Octave Music firms $290 million term loan at Libor plus 525 bps

By Sara Rosenberg

New York, Feb. 26 – Octave Music Group Inc. finalized pricing on its $290 million term loan (B2/B) at Libor plus 525 basis points, the high end of the Libor plus 500 bps to 525 bps talk, according to a market source.

The term loan still has a 0% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

Citizens Bank is the left lead on the deal.

Proceeds will be used to refinance existing debt.

Octave Music, formerly known as TouchTunes Networks Interactive Inc., is a New York-based interactive entertainment platform.

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