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Dutch LLC launches $200 million term loan B at Libor plus 500-525 bps
By Sara Rosenberg
New York, April 8 - Dutch LLC launched on Tuesday its $200 million six-year term loan B (B2/BB-) with price talk of Libor plus 500 basis points to 525 bps with a 1% Libor floor and an original issue discount of 99 to 991/2, according to a market source.
The loan has 101 soft call protection for six months and a maximum net leverage ratio.
Commitments are due on April 17, the source added.
Bank of America Merrill Lynch and RBC Capital Markets are the lead arrangers on the deal.
Proceeds will be used to refinance existing debt.
Dutch is a designer, manufacturer, marketer and wholesaler of apparel.
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