Ontic term loan frees to trade; BrandSafway price talk emerges; CoAdvantage readies deal

By Sara Rosenberg

New York, July 18 – Ontic (Bleriot US Bidco Inc.) increased the size of its first-lien term loan B, lowered the spread and finalized the original issue discount at the tight end of guidance, and then the debt made its way into the secondary market on Tuesday.

Ontic lifted its covenant-lite first-lien term loan B due October 2028 to $957 million from $937 million, by increasing the incremental amount included in the tranche to $120 million from up to $100 million, trimmed pricing to SOFR plus 400 basis points from SOFR plus 425 bps and set the original issue discount at 99.5, the tight end of the 99 to 99.5 talk, a market source remarked.

In more happenings, BrandSafway released price talk on its first-lien term loan B in connection with its lender call, and CoAdvantage (AQ Carver Buyer Inc.) joined this week’s new issue calendar.

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