Linxens finalizes $545 million term loan at Libor plus 350 bps

By Sara Rosenberg

New York, Feb. 10 – Linxens firmed pricing on its $545 million first-lien term loan due October 2022 at Libor plus 350 basis points, the high end of the Libor plus 325 bps to 350 bps talk, according to a market source.

As before, the term loan has a step-down, a 1% Libor floor, a par issue price and 101 soft call protection for six months.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Proceeds will be used to reprice an existing first-lien term loan from Libor plus 400 bps with a step-down and a 1% Libor floor.

Linxens is a France-based designer and manufacturer of flexible connectors for smart cards.

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