CDK accelerates commitment deadline; Kofax, Signature Aviation price talk emerges

By Sara Rosenberg

New York, June 6 – In the primary market on Monday, CDK Global Inc. opted to move up the commitment deadline for its first-lien term loan.

CDK accelerated the commitment deadline for its $3.35 billion seven-year first-lien term loan (B1/B+) to noon ET on Thursday from 5 p.m. ET on June 14, a market source remarked.

Talk on the term loan is SOFR plus 475 basis points to 500 bps with a 0.5% floor, an original issue discount of 95 to 96 and 101 soft call protection for six months.

The company’s $4 billion of credit facilities also include a $650 million revolver.

Also, Kofax disclosed price talk on its U.S. and euro first-lien term loans in connection with its lender call, and Signature Aviation plc (Brown Group Holding LLC) approached lenders with a term loan B-2.

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