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Lantheus talks $274 million term loan at Libor plus 375-400 bps
By Sara Rosenberg
New York, Nov. 15 – Lantheus Medical Imaging Inc. launched on Wednesday its $274 million term loan (B+) with price talk of Libor plus 375 basis points to 400 bps with a 1% Libor floor and a par issue price, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
Citizens Bank and Wells Fargo Securities LLC are the leads on the deal. J.P. Morgan Securities LLC is the administrative agent.
Commitments are due on Nov. 22, the source added.
Proceeds will be used to reprice an existing term loan from Libor plus 450 basis points with a 1% Libor floor.
Lantheus Medical is a North Billerica, Mass.-based developer, manufacturer, seller and distributor of diagnostic imaging agents.
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