MediaOcean to launch $275 million term loan B on Thursday

By Sara Rosenberg

New York, Nov. 6 – MediaOcean LLC is scheduled to hold a lender call at noon ET on Thursday to launch a $275 million term loan B due August 2025, according to a market source.

Macquarie Capital (USA) Inc., BNP Paribas Securities Corp., Golub Capital and Jefferies LLC are the leads on the deal.

Proceeds will be used to help refinance/extend an existing term loan B.

The company is also getting a $30 million revolver due August 2023.

Last week, the company pulled $743 million of senior secured credit facilities (B2/B) from the primary market due to unfavorable conditions.

The withdrawn facilities consisted of a $50 million revolver, and a $693 million term loan talked at Libor plus 400 basis points to 425 bps with a 0% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

Proceeds from the pulled deal were going to be used to refinance existing debt and pay a dividend to the company’s sponsor.

MediaOcean is a New York-based software company for the advertising sector.

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