Q Holding extended term loan B breaks; WS Audiology changes add-on loan discount

By Sara Rosenberg

New York, Aug. 20 – In the secondary market on Tuesday, Q Holding Co.’s amended and extended term loan B freed to trade in the afternoon.

And, over in the primary market, WS Audiology (Auris Luxembourg III SA) widened the original issue discount on its add-on term loan B-2 and extended the commitment deadline.

Q Holding’s $275 million term loan B due December 2023 freed up during the session, with levels quoted at 99½ bid, par offered, according to a trader.

Pricing on the term loan B is Libor plus 500 basis points with a 1% Libor floor.

During syndication, pricing on the extended term loan B was increased from talk in the range of Libor plus 450 bps to 475 bps.

WS Audiology widened the original issue discount on its $100 million add-on senior secured covenant-lite term loan B-2 (//B+) due February 2026 to 98.51 from 99.5, a market source remarked.

As before, pricing on the add-on term loan B-2 is Libor plus 375 bps with a 0% Libor floor, which matches existing term loan B-2 pricing.

Commitments are due at noon ET on Wednesday, extended from 5 p.m. ET on Tuesday, the source added.

Closing is expected during the week of Aug. 26.

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