TITLE

Immucor Increases Coupon On $600M TL

AUTHOR(S)
Colter, Allison Bisbey
PUB. DATE
August 2011
SOURCE
High Yield Report;8/15/2011, p16
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the pricing on the 600 million U.S. dollars term loan (TL) B of Immucor intended to help in the funding of the buyout by TPG Capital. The coupon on the seven-year loan was increased to Libor plus 575 basic points (BPS) by JP Morgan, Citigroup and UBS, higher by 100 bps than the top end of the original price talk ranging from Libor plus 450 bps to Libor plus 475 bps. The higher interest rate puts the yield in line with similarly-rated bonds traded in the secondary market.
ACCESSION #
66187579

 

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