Cenveo ups B loan to $380 million, firms spread at Libor plus 475 bps

By Sara Rosenberg

New York, Dec. 14 - Cenveo Inc. increased its term loan B to $380 million from $375 million and set pricing at Libor plus 475 basis points, the tight end of the Libor plus 475 bps to 500 bps talk, according to a market source.

The 1.5% Libor floor, 101 soft call protection for one year and original issue discount of 99 were left unchanged.

The company's now $530 million credit facility (Ba3/BB-) also provides for a $150 million revolver.

Bank of America and Macquarie are the lead banks on the deal, with Bank of America the left lead.

Proceeds will be used to refinance existing debt. The additional term loan debt being raised will be used to help fund fees.

Cenveo is a Stamford, Conn.-based manager and distributor of print and related products and services.

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