| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for MHS Holdings Inc. > News item |
MHS lifts pricing on $200 million add-on term B to Libor plus 500 bps
By Sara Rosenberg
New York, May 11 – MHS Holdings Inc. increased pricing on its fungible $200 million add-on covenant-light term loan B (B2/B) due May 1, 2024 to Libor plus 500 basis points from revised talk of Libor plus 425 bps and initial talk of Libor plus 375 bps, according to a market source.
As before, the add-on term loan has a 1% Libor floor, an original issue discount of 99.75 and 101 soft call protection for six months.
With the widening of the spread, MHS eliminated plans to reprice its existing $263 million term loan B (B2/B) down from Libor plus 500 bps with a 1% Libor floor, the source said.
The repricing had been offered at par.
RBC Capital Markets is the left lead arranger and bookrunner on the deal.
Proceeds from the add-on term loan will be used to fund a dividend.
Thomas H. Lee Partners LP is the sponsor.
MHS is a Louisville, Ky.-based provider of e-commerce infrastructure.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.