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Melissa & Doug firms $259 million loan at Libor plus 375 bps
By Sara Rosenberg
New York, Nov. 17 – Melissa & Doug (MND Holdings III Corp.) finalized pricing on its $259 million covenant-light first-lien term loan due June 2024 at Libor plus 375 basis points, the low end of the Libor plus 375 bps to 400 bps talk, according to a market source.
The term loan still has a 1% Libor floor and a par issue price.
Credit Suisse Securities (USA) LLC is the left lead arranger on the deal.
Proceeds will be used to reprice an existing term loan down from Libor plus 450 bps with a 1% Libor floor.
Melissa & Doug is a specialty toy brand with an educational focus.
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