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MediaOcean tightens $385 million add-on term loan to 99.75 OID
By Sara Rosenberg
New York, Aug. 2 – MediaOcean LLC changed the original issue discount on its fungible $385 million add-on first-lien term loan to 99.75 from 99.5, according to a market source.
Pricing on the add-on term loan is Libor plus 400 basis points with a 25 bps step-down based on leverage and a 0% Libor floor, in line with existing first-lien term loan pricing.
Macquarie Capital (USA) Inc. and Golub Capital are the leads on the deal.
Commitments continued to be due at noon ET on Monday, the source added.
Proceeds will be used to fund the acquisition of Flashtalking, an ad management platform.
Closing is expected in the third quarter.
MediaOcean is a New York-based software company for the advertising sector.
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