Seminole Tribe finalizes $300 million term loan B at 99.75 OID

By Sara Rosenberg

New York, Aug. 15 – Seminole Tribe of Florida firmed the original issue discount on its fungible $300 million incremental term loan B (Baa2/BBB) due July 2024 at 99.75, the tight end of the 99.5 to 99.75 talk, according to a market source.

Pricing on the incremental term loan is Libor plus 175 basis points with a 0% Libor floor.

BofA Securities, Inc., Fifth Third, U.S. Bank, Capital One, PNC Capital Markets and Citizens Bank are the lead arrangers on the deal.

Proceeds will be used to refinance existing debt, fund project capital expenditures and finance future investments in projects.

Seminole Tribe of Florida is a Hollywood, Fla.-based Indian tribe that owns and operates gaming and resort facilities.

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