Ontic term loan frees to trade; Farfetch finalizes spread, widens issue price

By Sara Rosenberg

New York, Sept. 28 – Ontic (Bleriot US Bidco Inc.) finalized the issue price on its incremental first-lien term loan at the wide end of guidance and then the debt made its way into the secondary market on Wednesday.

Ontic set the original issue discount on its non-fungible $85 million incremental covenant-lite first-lien term loan (B2/B) due October 2026 at 95, the wide end of the 95 to 96 talk, according to a market source.

As before, the incremental term loan is priced at of SOFR+10 basis points CSA plus 450 bps with a 0% floor and has 101 soft call protection for six months.

Also, Generation Bridge II LLC’s incremental term loan was bid around its original issue discount price after freeing up at that level in the prior session.

And, in more happenings, Farfetch US Holdings Inc. firmed the spread on its first-lien term loan B at the high end of talk and revised the original issue discount.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.