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U.S. Silica term loan B changes surface; Pretium Packaging holds steady after downgrade
By Sara Rosenberg
New York, March 17 – In the primary market on Friday, U.S. Silica Holdings Inc. finalized the original issue discount on its term loan B at the wide end of guidance, added CSA, sweetened the call protection and made some changes to documentation.
U.S. Silica set the original issue discount on its $950 million seven-year term loan B (B2/B+) at 97, the wide end of the 97 to 98 talk, added 10 basis points CSA and extended the 101 soft call protection to one year from six months, a market source remarked.
Meanwhile, in trading, Pretium Packaging LLC’s first-lien term loan was basically flat on the day after the company was hit with ratings downgrades by S&P Global Ratings.
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