Huntsworth modifies pricing; Blue Yonder accelerated; Emerald, BroadStreet reveal talk

By Sara Rosenberg

New York, July 29 – Huntsworth plc lifted pricing on its first-lien term loan on Wednesday, reduced the Libor floor and widened original issue discount guidance, and Blue Yonder moved up the commitment deadline for its term loan B.

In addition, Emerald Performance Materials LLC and BroadStreet Partners Inc. disclosed price talk on their term loans with launch.

Huntsworth reworked

Huntsworth raised pricing on its $300 million seven-year first-lien term loan B (B2/B-) to Libor plus 600 basis points from Libor plus 525 bps, changed the Libor floor to 0% from 0.5% and revised the original issue discount talk to a range of 93 to 94 from 96, a market source remarked.

As before, the term loan has 101 soft call protection for six months.

Commitments are now due at noon ET on Thursday, the source added.

RBC Capital Markets is leading the deal that will be used to support the £575 million buyout of the company by Clayton, Dubilier & Rice, which was completed in May.

The company also got a £75 million privately placed second-lien term loan for the buyout.

Huntsworth is a London-based provider of healthcare marketing and communication services.

Blue Yonder tweaks timing

Blue Yonder accelerated the commitment deadline for its $620 million 5.5-year term loan B to 5 p.m. ET on Wednesday from Thursday, a market source said.

Talk on the loan is Libor plus 300 bps to 325 bps with a 1% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.

J.P. Morgan Securities LLC is leading the deal that will be used to repay term loan borrowings.

Blue Yonder, formerly JDA Software Group, is a Scottsdale, Ariz.-based software and consultancy company.

Emerald sets guidance

Emerald Performance held its lender call on Wednesday and announced price talk on its $425 million five-year covenant-lite first-lien term loan at Libor plus 425 bps to 450 bps with a 1% Libor floor and an original issue discount of 98.5, according to a market source.

The term loan has 101 soft call protection for six months.

The company’s $500 million of credit facilities (B2/B) also include a $75 million revolver.

Commitments are due at 5 p.m. ET on Aug. 6.

Credit Suisse Securities (USA) LLC is the left lead on the deal that will be used to refinance existing debt.

Emerald Performance is a Vancouver, Wash.-based manufacturer and marketer of specialty chemicals.

BroadStreet proposed terms

BroadStreet Partners hosted a lender call at 2 p.m. ET, launching a non-fungible $175 million term loan B (B) due Jan. 20, 2027 talked at Libor plus 375 bps with a 1% Libor floor, an original issue discount of 97 and 101 soft call protection for six months, a market source said.

Commitments are due at noon ET on Aug. 5, the source added.

RBC Capital Markets LLC, BofA Securities Inc., Barclays, BMO Capital Markets, Bank of Nova Scotia and Truist are leading the deal that will be used to repay revolver borrowings and put cash on balance sheet.

The new loan is co-terminus with the company’s existing $1.108 billion term loan B.

BroadStreet is a Columbus, Ohio-based insurance broker.

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