MediaOcean revises $275 million term loan B discount to 99.75

By Sara Rosenberg

New York, Nov. 18 – MediaOcean LLC tightened the original issue discount on its $275 million term loan B due August 2025 to 99.75 from 99.5, according to a market source.

Pricing on the term loan remained at Libor plus 400 basis points but a step-down was added to Libor plus 375 bps if net leverage is less than 1.75x, the source said.

The term loan has 101 soft call protection for six months.

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.

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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