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Emerging Markets raises first-lien term loan to $110 million
By Sara Rosenberg
New York, May 6 - Emerging Markets Communications LLC upsized its six-year first-lien term loan to $110 million from $105 million and downsized its privately placed second-lien term loan, according to a market source.
Pricing on the first-lien term loan is still Libor plus 450 basis points, with a 1% Libor floor and an original issue discount of 99, and the debt still has 101 soft call protection for six months.
The company is also getting a $25 million six-year revolver priced at Libor plus 425
SunTrust Robinson Humphrey Inc., RBS Citizens and CapitalSource are leading the deal.
Proceeds will be used to refinance existing debt.
Emerging Markets Communications is a Miami-based provider of hybrid global satellite and terrestrial communications.
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