Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for OverDrive > News item |
OverDrive finalizes $600 million term loan B at SOFR plus 425 bps
By Sara Rosenberg
New York, Dec. 8 – OverDrive firmed pricing on its $600 million first-lien term loan B (B2/B) at SOFR plus 425 basis points, the low end of the SOFR plus 425 bps to 450 bps talk, according to a market source.
In addition, the original issue discount on the term loan was revised to 99 from 98.5, the source said.
As before, the term loan has a 0% floor and 101 soft call protection for six months.
KKR Capital Markets, Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc., ING Capital, Truist Securities and Credit Agricole are the leads on the deal.
Proceeds will be used to refinance an existing term loan due August 2025.
OverDrive is a Cleveland-based provider of a digital catalog of e-books, audiobooks, magazines, video and other content to libraries and schools.
© 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.