![]() ![]() 11 lender call to launch $2B term loan North American Bancard plans $300M add-on term loan for M&A lender call Jan. Primary leveraged loan market stories/links LBO/M&A Covis Pharma sets price talk on $350M term loan B commits due Jan. Existing pricing on the covenant-lite TLB is L+375, with a 1% Libor floor. launched its $431.5 million TLB due July 2024 at Sofr+325, plus a credit spread adjustment of 10/15/25, with a 0.5% floor. TRAC is a marine chassis pool manager and equipment provider that is backed by Stonepeak Infrastructure Partners.Ī couple more repricings were added to the queue today as well. The loan is offered at an OID in the range of 98-98.5. Price talk for the eight-year covenant-lite term loan is for a spread of 700 bps over Sofr, plus a credit spread adjustment of 10 bps, with a 0.5% floor. TRAC Intermodal LLC launched a $350 million second-lien term loan via lead arranger Credit Suisse that will be used to fund a distribution to its sponsor. Covis Pharma is a portfolio company of Apollo Global Management. The credit spread adjustment is 10 bps for a one-month rate, 15 bps for a three-month rate and 25 bps for a six-month rate. The facility will amortize at 5% per annum with a bullet at maturity. The five-year term loan is offered at a spread of 625 basis points over Sofr, plus a CSA, with a 0.75% floor and an OID in the range of 98-99. Lead arranger Barclays launched the $350 million TLB for Covis Pharma BV that will, along with $850 million of other secured debt, refinance the company's existing debt and refinance borrowings used to finance products acquired from AstraZeneca. Proceeds from the deal will be used to refinance the company's euro term loans due June 2024 and to partially refinance the dollar term loans due June 2024. ![]() Both feature 12 months of soft call protection. Also on offer is a €442 million tranche talked at E+400-425, with a 0% floor and a 99.5 OID. A $1.1 billion, five-year dollar-denominated TLB is talked at Sofr+375-400, with a credit spread adjustment, or CSA, (10/15/25) and a 0.5% floor. ![]() Morgan, HSBC, NatWest, Citi, BofA Securities and Goldman Sachs. In today's new business, Micro Focus International PLC launched a cross-border term loan B refinancing through bookrunners J.P. On Tuesday, Crocs will launch a $2 billion term loan B to finance its acquisition of HEYDUDE, Fluidra will set talk for a dollar- and euro-denominated refinancing, and incremental term loans are lined up for Arxada, North American Bancard and Summit Behavioral Healthcare. A fresh round of deal announcements to start the week added some bulk to the forward calendar today, courtesy of some large M&A financing and cross-border refinancings. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |