Oct. 24 (Bloomberg) -- Com Hem AB cut the proposed price of euro-denominated term loans to 93 percent of face value from as much as 95 percent last month, according to a person with knowledge of the deal.
The Swedish cable company is selling the term loan B, for at least 300 million euros ($415 million), as part of the 7.1 billion-kronor ($1.1 billion) funding to back its July 21 takeover by BC Partners.
The loans are being marketed with initial interest of 500 basis points more than the euro interbank offered rate, said the person, who didn’t want to be identified because the terms are private. A basis point is 0.01 percentage point
About $500 million of institutional facilities have been preplaced by arrangers Goldman Sachs Group Inc., Morgan Stanley, Deutsche Bank AG, UBS AG, Nordea Bank AB and Bank of America Merrill Lynch, the person said.
BC Partners agreed to buy Stockholm-based Com Hem from U.S. buyout firms Carlyle Group and Providence Equity Partners.
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