Platform Specialty breaks; Albertson’s, Endemol, St George’s University revisions surface

By Sara Rosenberg

New York, Aug. 4 – Platform Specialty Products Corp.’s (MacDermid Inc.) bank debt made its way into the secondary market on Monday with the add-on U.S. term loan B bid right around its original issue discount.

Over in the primary, Albertson’s Holdings LLC (Safeway Acquisition Merger Sub Inc.) widened price talk on its term loans and modified the offer price on the B-3 tranche, and Endemol Holdings NewCo modified pricing and the original issue discounts on all of its term loans for a second time.

Also, St. George’s University lowered the spread on its term loan and tightened the original issue discount, and Travelport LuxCo, Acosta Sales & Marketing and Bioplan/Arcade Marketing disclosed price talk with launch.

Platform Specialty Products’ bank debt broke for trading on Monday, with the $130 million add-on U.S. term loan B quoted at 99˝ bid, par offered, according to a trader.

Pricing on the U.S. loan is Libor plus 300 basis points with a 1% Libor floor and it was sold at an original issue discount of 99˝. There is 101 soft call protection for six months and a ticking fee of half the spread from days 31 to 90 and the full spread thereafter.

The company is also getting a €205 million term loan B priced at Euribor plus 325 bps with a 1% floor and issued at 99˝. This tranche also has 101 soft call protection for six months.

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