Moore to hold lender call Thursday for repricing of term B

By Sara Rosenberg

New York, July 23 - Moore Corp. is scheduled to hold a call at 11.15 a.m. ET on Thursday for existing lenders regarding a repricing of its term loan B, according to market sources. Deutsche Bank and Citigroup are the lead banks on the deal.

The company is seeking to lower pricing on its $500 million term loan B to Libor plus 250 basis points from Libor plus 300 basis points, sources said.

"I'm not sure if they're doing a new deal, in which case they would take out the B loan, or trying to get an amendment to reprice or change the spread, in which case they would just need approval," one source said.

Moore obtained its $850 million credit facility earlier this year. Besides the institutional tranche, the loan contains a $350 million five-year revolver with an interest rate of Libor plus 250 basis points.

Proceeds from the credit facility were used to help fund the acquisition of Wallace Computer Services Inc. and refinance substantially all of the debt of Moore and Wallace.

Moore is a Mississauga, Ont. manager and distributor of print information.

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