Nuance Communications' $355 million term loan broke at 101 1/4 in the secondary market last week. UBS and Credit Suisse lead the deal, priced at LIBOR plus 2%. The credit also consists of a $75 million revolver. Nuance is using the proceeds to back the acquisition of Dictaphone Corp. The company closed the acquisition March 31.
Moody's Investors Service assigned a B1 rating to the credit facility. James Arnold, cfo, did not return calls.