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Protection 1, Deltek, Zep, MRI Software, Authentic Brands, Lindblad Expeditions break
By Sara Rosenberg
New York, June 19 – Deals from Protection 1 (Apollo Security Services Borrower LLC), Deltek Inc., Zep Inc., MRI Software LLC and Authentic Brands Group LLC all surfaced in the secondary market on Friday.
And Lindblad Expeditions Inc. broke after its term loan was upsized and the spread and original issue discount were tightened.
The company increased the term loan to $175 million from $150 million, reduced pricing to Libor plus 450 bps from Libor plus 500 bps and revised the discount to 99.5 from 99.
Recommitments were due at noon ET on Friday, and once the loan found its way into the secondary market, levels were quoted at par bid, par ½ offered.
In other happenings, Tribune Media Co. set the spread on its repriced term loan at the high end of guidance and extended the call protection, Liquid Web changed the issue price on its term loan B and added a pricing step-down, and Consolidated Precision Products Corp. (WPP CPP Holdings LLC) upsized its add-on first-lien term loan and downsized its second-lien term loan.
Furthermore, Summit Materials LLC released price talk with launch, timing came out on SS&C Technologies Inc.’s credit facility, and Avast, Jackson Hewitt Tax Service and Dayton Superior Corp. emerged with new deal plans.
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