will act as joint lead arrangers and joint book runners for the Term Loan
125bn term loan
B facility was issued at par and bears interest at a rate of LIBOR plus 2.
The extensions come as iHeart hasamended the private offers to lenders under itsTerm Loan D and Term Loan
The final maturity date of the term loans
is September 12, 2021, the firm said.
Additionally, the company amended its existing USD 50m unsecured term loan
, which matures in 2018, decreasing the interest rate by 20 basis points to LIBOR plus 175 basis points thereby matching the pricing grid of the new five-year unsecured term loan
The proceeds from the new term loans
were used to refinance the existing term loans
under Freescale's credit facility and to pay a portion of the related fees and expenses.
The financing was structured as a 15-year term loan
, with 15-year amortization, 65% LTV and a 1.
Therefore, after meeting with a term lender, he negotiated a term loan
for 85 per cent of the purchase price and subordinated debt for the difference.
Upon closing of this refinancing transaction, the new Tranche B 2024 term loan
will bear interest at LIBOR plus 2.
BANKING AND CREDIT NEWS-September 28, 2010--S&P rates Nalco's USD750m term loans
at BB+(C)2010 M2 COMMUNICATIONS http://www.
When AFRs are very low, clients should consider converting their demand loans into term loans
to lock in the low rates.
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 relating to the proposed new term loan