LSC Communications firms $313 million term B at Libor plus 550 bps

By Sara Rosenberg

New York, Nov. 15 – LSC Communications Inc. finalized pricing on its $313 million term loan B at Libor plus 550 basis points, the high end of the Libor plus 525 bps to 550 bps talk, according to a market source.

Also, the 101 soft call protection on the term loan was extended to one year from six months, the source said.

The term loan still has a 0.75% Libor floor and a par issue price.

Bank of America Merrill Lynch is the lead on the deal.

Proceeds will be used to reprice an existing term loan down from Libor plus 600 bps with a 1% Libor floor.

LSC is a Chicago-based provider of digital print, print-related services and office products.

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