Vertex Aerospace frees to trade; Dave & Buster’s loan changes surface; Vistage sets talk

By Sara Rosenberg

New York, June 22 – Vertex Aerospace Services Corp. modified the issue price on its incremental term loan B and then the debt made its way into the secondary market on Wednesday afternoon.

Vertex Aerospace revised the original issue discount on its non-fungible $260 million incremental term loan B (B1/B+) due Dec. 6, 2028 to 95 from 96, according to a market source.

The term loan is still priced at SOFR+10 basis points CSA plus 400 bps with a 0.75% floor and has 101 soft call protection for six months.

Commitments were due at 12:30 p.m. ET on Wednesday and the incremental term loan began trading in the afternoon, with levels quoted at 95½ bid, 96½ offered, a trader added.

In other happenings, Dave & Buster’s Inc. widened the spread and original issue discount on its term loan B and sweetened the call protection, and Vistage Worldwide announced price talk on its first-lien term loan in connection with its lender call.

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