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MSX ups pricing on $220 million term loan B to Libor plus 500 bps
By Sara Rosenberg
New York, Aug. 12 – MSX International increased pricing on its $220 million term loan B to Libor plus 500 basis points from talk of Libor plus 425 bps to 450 bps, according to a market source.
Also, the 101 soft call protection on the term loan was changed to one year from six months, the source said.
The term loan still has a 1% Libor floor and an original issue discount of 99.
The company’s $255 million credit facility also includes a $35 million revolver.
Recommitments are due at noon ET on Wednesday, the source added.
RBC Capital Markets and SunTrust Robinson Humphrey Inc. are the joint lead arrangers on the deal.
Proceeds will be used to refinance existing debt.
MSX International is a service and technology solutions provider helping automotive and other organizations improve retail network performance, talent acquisition and management strategies.
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