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Vertafore, Travelport, Avantor, Creative Artists, First Eagle, TriMark, Americold break
By Sara Rosenberg
New York, June 17 – The secondary market on Friday saw a number of deals free up, including Vertafore (VF Holding Corp.), Travelport Finance (Luxembourg) SARL, Avantor Performance Materials, Creative Artists Agency LLC, First Eagle Holdings Inc., TriMark (TMK Hawk Parent Corp.) and Americold Realty Operating Partnership LP.
In more happenings, ExamWorks Group Inc. trimmed pricing on its first-lien term loan and firmed the original issue discount at the tight end of guidance, Prospect Medical Holdings Inc. reduced the size of its term loan B, raised the spread and widened the issue price, and Booz Allen Hamilton Inc., Ravago Holdings America, Headwaters Inc. and Belfor USA Group Inc. surfaced with new deal plans.
Vertafore’s credit facility began trading on Friday, with the $1.1 billion seven-year covenant-light first-lien term loan quoted at par bid, par ˝ offered, according to a market source.
Pricing on the term loan is Libor plus 375 basis points with a 1% Libor floor, and it was sold at an original issue discount of 99.5. The debt has 101 soft call protection for six months.
Recently, the spread on the term loan was reduced from talk of Libor plus 400 bps to 425 bps and the discount was changed from 99.
The company’s $1.2 billion credit facility (B2/B-) also includes a $100 million five-year revolver.
Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Morgan Stanley Senior Funding Inc. and Mizuho are leading the deal that will be used to help fund the buyout of the company by Bain Capital Private Equity and Vista Equity Partners from TPG Capital.
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