Zebra Technologies firms $1.96 billion term B at Libor plus 325 bps

By Sara Rosenberg

New York, May 27 – Zebra Technologies Corp. finalized pricing on its $1,955,000,000 senior secured covenant-light term loan B due Dec. 27, 2021 at Libor plus 325 basis points, the low end of the Libor plus 325 bps to 350 bps talk, according to a market source.

The term loan still has a 0.75% Libor floor, an original issue discount of 99.75 and a repricing premium of 101 for six months. Optional prepayments will be made at par.

Morgan Stanley Senior Funding, Inc. and J.P. Morgan Securities LLC are the joint lead arrangers and bookrunners on the deal.

Proceeds will be used to reprice the company’s existing term loan B due in 2021.

Zebra is a Lincolnshire, Ill.-based provider of marking and printing technologies.

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