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World Triathlon launches $250 million term loan at Libor plus 350 bps
By Sara Rosenberg
New York, June 26 – World Triathlon Corp. launched on Tuesday its $250 million term loan with price talk of Libor plus 350 basis points with a 1% Libor floor and an original issue discount of 99.5, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
The company’s $271 million of credit facilities also include a $21 million revolver.
UBS Investment Bank is the lead on the deal.
Commitments are due on July 9, the source added.
Proceeds will be used to refinance existing debt.
World Triathlon is an owner and operator of Ironman triathlon events.
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