PSAV launches $430 million term loan at Libor plus 375-400 bps

By Sara Rosenberg

New York, Sept. 19 – PSAV (AVSC Holding Corp.) launched with a lender call on Thursday a non-fungible $430 million incremental seven-year term loan B (B-) that is talked at Libor plus 375 basis points to 400 bps with a 1% Libor floor and an original issue discount of 98.5, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Commitments are due at 5 p.m. ET on Sept. 26, the source added.

Proceeds will be used to fund the acquisition of Encore Event Technologies Inc., a provider of event technology, staging and production services, and for general corporate purposes.

PSAV is a Long Beach, Calif.-based event technology provider.

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