TKC Holdings launches $1.28 billion term loan at Libor plus 375 bps

By Sara Rosenberg

New York, June 4 – TKC Holdings Inc. launched on Monday a roughly $1.28 billion first-lien term loan that is talked at Libor plus 375 basis points 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.

Jefferies LLC is the lead bank on the deal.

Proceeds will be used to reprice an existing term loan down from Libor plus 425 bps with a 1% Libor floor.

Commitments are due at noon ET on Thursday, the source added.

TKC is a St. Louis-based provider of commissary, food service and related technology products to the corrections industry, and a provider of in-room coffee service to hotels and motels.

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