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Melissa & Doug firms $258 million term loan at Libor plus 350 bps
By Sara Rosenberg
New York, June 8 – Melissa & Doug (MND Holdings III Corp.) finalized pricing on its $258 million covenant-light first-lien term loan due June 2024 at Libor plus 350 basis points, the high end of the Libor plus 325 bps to 350 bps talk, according to a market source.
The term loan still has a 1% Libor floor, a par issue price and 101 soft call protection for six months.
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 375 bps with a 1% Libor floor.
Melissa & Doug is a Wilton, Conn., specialty toy brand with an educational focus.
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