Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Chrysler Group LLC > News item |
Chrysler sets spread on $2.95 billion term loan at Libor plus 325 bps
By Sara Rosenberg
New York, June 20 - Chrysler Group LLC firmed pricing on its $2,947,000,000 term loan due May 24, 2017 at Libor plus 325 basis points, the wide end of the Libor plus 300 bps to 325 bps talk, according to a market source.
The term loan still has a 1% Libor floor, a par offer price and 101 soft call protection for six months.
The company's $4,247,000,000 credit facility also includes a $1.3 billion revolver due May 24, 2016.
Proceeds will be used to reprice an existing revolver and the term loan. Current pricing on the term loan is Libor plus 475 bps with a 1.25% Libor floor.
Citigroup Global Markets Inc., Morgan Stanley Senior Funding Inc., Bank of America Merrill Lynch and Goldman Sachs Bank USA are the lead banks on the deal, with Citi the left lead on the term loan and Morgan Stanley the left lead on the revolver.
Closing is expected to occur on Friday.
Chrysler is an Auburn Hills, Mich.-based automotive company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.