MJH Life Sciences, a healthcare media company, was forced to change the terms of a $430 million loan to help finance its acquisition of a marketing firm.
In a bid to entice investors, the company hiked the yield on the offering, according to a person with knowledge of the matter. The interest rate on the loan was increasedBloomberg Terminal by as much as 1 percentage point to 3.5 to 3.75 over the benchmark, while the discounted price was changed to 96.5 to 97 cents on the dollar from 99 to 99.25, the person said.
MJH Life Sciences Hikes Yield on $430 Million Junk-Rated Loan
