Online streaming/DVR provider Tivo refinanced its credit facility agented by Morgan Stanley Senior Funding, closing a $682 million term loan.

According to a related 8-K filing, borrowers used the proceeds of the term loan B Facility to repay existing loans under the existing credit agreement. Loans under the term loan B facility bear interest, at the borrowers’ option, at a rate equal to either the LIBOR rate, plus an applicable margin equal to 2.5% per annum (subject to a 0.75% LIBOR floor) or the prime lending rate, plus an applicable margin equal to 1.5% per annum.

The borrowers are permitted to make voluntary prepayments at any time without payment of a premium, except that a 1% premium would apply to a repayment in connection with a repricing of, or any amendment to the agreement resulting in a repricing that is six months following the January 26, 2017 closing date of the amendment.