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Cast & Crew increases first-lien term loan size to $366 million
By Sara Rosenberg
New York, Jan. 30 – Cast & Crew Payroll LLC upsized its first-lien term loan to $366 million from $346 million, according to a market source.
Pricing on the loan is Libor plus 350 basis points with a 1% Libor floor, and it has 101 soft call protection for six months.
RBC Capital Markets LLC is the lead bank on the deal.
Proceeds will be used to reprice an existing term loan down from Libor plus 400 bps with a 1% Libor floor, and the upsized amount will be used to add cash to the balance sheet.
Cast & Crew, a Silver Lake portfolio company, is a Burbank, Calif.-based provider of technology-enabled payroll, production accounting and related value-added services to the entertainment industry.
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