Vertex, Vantage Elevator, Parts Authority break; Carestream, Draslovka, System1 revise deals

By Sara Rosenberg

New York, Nov. 10 – Vertex Aerospace Services Corp. moved some fund between its first- and second-lien term loans, adjusted the issue price on the first-lien tranche and revised documentation, and then the debt made its way into the secondary market on Wednesday.

Also, Vantage Elevator Solutions set the spread on its first-lien term loan at the low end of talk and changed the original issue discount before breaking for trading, and Parts Authority’s (PAI Holdco Inc.) incremental first-lien term loan freed up as well.

In other news, Carestream Dental Equipment Inc. downsized its first- and second-lien term loans, revised price talk on the second-lien tranche and modified maturities on the debt, and Draslovka Holding (Manchester Acquisition Sub LLC) sweetened the spread, original issue discount and call protection on its term loan B, shortened the maturity and made some changes to documentation.

Additionally, System1 Inc. increased pricing on its term loan B, and revised issue price talk, call protection and maturity, EFS Cogen Holdings I LLC (Linden) withdrew the repricing of its term loan B from market, and Freeport LNG Investments LLLP accelerated the commitment deadline for its first-lien term loan.

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