by Calculated Risk on 7/19/2007 08:53:00 PM

From Reuters: Chrysler sweetens pricing on loans

Pricing has been sweetened on Chrysler Financial Services' $6 billion of first- and second-lien term loans, sources told Reuters Loan Pricing Corp. on Thursday.

The $4 billion first-lien loan pricing is being raised by 25 basis points to 300 basis points over the London interbank offered rate, while the $2 billion second-lien term loan is being raised by 50 basis points to 550 basis points over Libor, sources told Reuters LPC.

Call language on both term loans also is being tightened.
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The changes come on the heels of talk of revisions to the Chrysler Corp. deal earlier this week.

Also from Reuters: Tower Automotive sweetens pricing on loan

Pricing has been sweetened on Tower Automotive's $895 million of first and second-lien bank loans, sources told Reuters Loan Pricing Corp. on Thursday.

The first-lien term loan has been increased to 400 basis points over the London interbank offered rate from 325 basis points to 350 basis points over LIBOR, while the second-lien term loan is being raised to 750 basis points over LIBOR from 625 to 650 basis points over LIBOR, sources said.

The first-lien loan, which did not have call language earlier, now benefits from 101 soft-call and is being issued at 98.5.

Call language on the second-lien loan is being tightened ...