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Bridgepoint Seeks Interest Cut on Loans for Road Racing Manager

Bridgepoint asked lenders to accept lower interest on a loan its marketing for the manager of the MotoGP motorcycling championship, a person with knowledge of the negotiations said.

The U.K. buyout firm asked funds investing in seven-year term loans to Dorna Sports SL for a 75 basis-point reduction in the interest margin to 425 basis points, said the person, who declined to be identified because the terms are private. It proposed banks cut the margin on a six-year term loan and revolving credit by 25 basis points, also to 425 basis points.