LEVERAGED LOANS

摘要

Auto racing and sports car body nascar has set price guidance on a US$1.41bn Term Loan B that will finance its acquisition of racetrack operator International Speedway. The seven-year first-lien term loan is being offered between 300bp-325bp over Libor, with a 0% floor, 99 OID and 101 soft-call protection for six months. Ticking fees worth 50% of the loan's margin will kick in during days 46-90 of the life of the loan before increasing to 100% of the margin from day 91 onwards. Corporate and first-lien term loan ratings are Ba2/BB.