Quikrete, Nuvei, Dole, ExGen Renewables break; Paya, E2open accelerate loan deadlines

By Sara Rosenberg

New York, June 11 – Quikrete Holdings Inc.’s term loan B-1 made its way into the secondary market on Friday, with levels quoted above its original issue discount, and deals from Nuvei Corp., Dole plc and ExGen Renewables IV LLC freed to trade as well.

Moving to the primary market, Paya Inc. and E2open accelerated the commitment deadlines for their term loan transactions.

Also, ArchKey Solutions (ArchKey Holdings Inc.), Aspen Dental Management, Milk Specialties Co. and BGIS (Brookfield Global Integrated Solutions) joined the near-term primary calendar.

Quikrete’s $1.7 billion seven-year incremental covenant-lite term loan B-1 broke for trading on Friday, with levels quoted at 99½ bid, 99¾ offered, according to a market source.

Pricing on the term loan B-1 is Libor plus 300 basis points with a 0% Libor floor, and it was sold at an original issue discount of 99.25. The debt has 101 soft call protection for six months and a ticking fee of half the margin from days 31 to 60 and the full margin plus Libor thereafter.

Meanwhile, Nuvei’s $300 million add-on term loan and repriced $212 million term loan also freed to trade, with levels quoted at par 3/8 bid, par ¾ offered, a trader said.

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