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CCM Merger talks term loan B repricing at Libor plus 375-400 bps
By Sara Rosenberg
New York, April 17 - CCM Merger Inc. launched with a call on Wednesday a repricing of its roughly $531 million term loan B that is talked at Libor plus 375 basis points to 400 bps with a 1.25% Libor floor and a par offer price, according to a market source.
The repriced loan has 101 soft call protection for one year, the source said.
With this transaction, pricing on the term loan B is being taken down from Libor plus 475 bps with a 1.25% Libor floor.
Bank of America Merrill Lynch is the lead bank on the deal.
CCM is the owner of the MotorCity Casino Hotel in Detroit.
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