Cypress, Advanced Computer, Travel, BrightView, SiteOne break; RMmedia, Verscend updated

By Sara Rosenberg

New York, Aug. 10 – Cypress Semiconductor Corp. finalized pricing on its term loan B at the high side of talk, and Advanced Computer Software (ACS/Air Newco LP) outlined tranching on its U.S. and pound add-on term loan B debt and set the issue price on the U.S. piece at the tight end of guidance, and then both of these deals broke for trading on Friday.

Other deals to make their way into secondary market during the session included Travel Leaders Group LLC, BrightView Holdings Inc. and SiteOne Landscape Supply Inc.

In more happenings, RBmedia firmed the spread on its first-lien term loan at the low end of talk, Verscend Technologies Inc. updated size, spread, original issue discount and call protection on its term loan B, and Vantage Specialty Chemicals Inc. surfaced with new deal plans.

Cypress Semiconductor finalized pricing on its $477,573,191 (pro forma for a $25 million paydown) senior secured covenant-light term loan B due July 5, 2021 at Libor plus 200 basis points, the high end of the Libor plus 175 bps to 200 bps talk, and left the 0% Libor floor, par issue price and 101 soft call protection for six months unchanged, a market source remarked.

By late Friday, the term loan B began trading and levels were quoted at par 1/8 bid, par ½ offered, a trader added.

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