Dec. 13 (Bloomberg) -- The price of 185 million-pounds ($287 million) of loans for Merlin Entertainments Group Ltd. that were distributed to lenders on Dec. 9 rose in their first two days of trading, according to prices from Markit Group Ltd.
The U.K. owner of Legoland and Madame Tussauds wax museum sold the debt at 97 cents on the dollar, according to a person with direct knowledge of the deal, and has since risen to a mid- price of 98.25 percent of face value for the euro tranche and 98 percent of face value for the dollar and pound portion, Markit prices show.
The add-on loan, which is due in July 2017, pays interest at 500 basis points more than the London interbank offered rate, said the person, who didn’t want to be identified as the deal is private. UniCredit SpA coordinated the deal, proceeds of which will be used to finance an unspecified acquisition.
A basis point is 0.01 percentage point.
--Editors: Faris Khan, Chapin Wright
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