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Sesac to launch first-lien term loan repricing on Friday morning
By Sara Rosenberg
New York, Dec. 5 - Sesac is scheduled to hold a call at 10:30 a.m. ET on Friday to launch a repricing of its $233 million first-lien term loan, according to a market source.
Jefferies Finance LLC is leading the deal.
Price talk on the loan is Libor plus 400 basis points to 425 bps with a 1% Libor floor and a par offer price, the source said.
The repriced loan has 101 soft call protection for six months.
Through this repricing, the company would be taking the first-lien term loan down from Libor plus 475 bps with a 1.25% Libor floor.
Sesac is a Nashville, Tenn.-based performing rights organization that represents the interests of individual songwriters and publishers of music to ensure they are compensated for the public performance of their copyrighted material.
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