Zuffa lifts spread on $450 million term loan B to Libor plus 350 bps

By Sara Rosenberg

New York, Feb. 15 - Zuffa LLC raised pricing on its $450 million term loan B to Libor plus 350 basis points from the Libor plus 300 bps area and added a step-down to Libor plus 325 bps at 3.5 times secured leverage, according to a market source.

In addition, the offer price on the loan firmed at 991/2, the wide end of the 99½ to par talk, the source said.

The 1% Libor floor and 101 soft call protection for one year were unchanged.

The company's $510 million credit facility also includes a $60 million revolver.

Recommitments were due at 2 p.m. ET on Friday, and allocations are expected during the week of Feb. 18.

Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and BofA Merrill Lynch are the lead banks on the deal.

Proceeds will be used to refinance existing debt.

Zuffa is the Las Vegas-based company that owns the Ultimate Fighting Championship brand.

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