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MediaOcean launches $275 million term loan B at Libor plus 400 bps
By Sara Rosenberg
New York, Nov. 7 – MediaOcean LLC launched on Thursday its $275 million term loan B due August 2025 with price talk of Libor plus 400 basis points and an original issue discount of 99.5, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
The company’s $305 million of credit facilities (B2/B) also include a $30 million revolver due August 2023.
Macquarie Capital (USA) Inc., BNP Paribas Securities Corp., Golub Capital and Jefferies LLC are the leads on the deal.
Commitments are due at noon ET on Nov. 15, the source added.
Proceeds will be used with cash to help refinance/extend by three years an existing $293 million term loan B and revolver.
MediaOcean is a New York-based software company for the advertising sector.
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