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OrthoLite launches $200 million term loan B at Libor plus 475-500 bps
By Sara Rosenberg
New York, Sept. 19 – OrthoLite launched on Monday its $200 million seven-year term loan B with price talk of Libor plus 475 basis points to 500 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.
The term loan B has 101 soft call protection for six months and amortization of 1% per annum, the source said.
The company’s $212 million senior secured credit facility (B2) also includes a $12 million revolver.
Goldman Sachs Bank USA and Antares Capital are the leads on the deal.
Commitments are due at noon ET on Oct. 3, the source added.
Proceeds will be used to refinance existing debt and to fund a dividend.
OrthoLite is an Amherst, Mass.-based supplier and manufacturer of open-cell foam insoles to branded footwear companies.
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