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PPD shops loan; nThrive TSG, ERT, Women’s Care, Grab Holdings ready deals
By Sara Rosenberg
New York, Jan. 4 – In the bank-loan primary market on Monday, PPD Inc. approached lenders with a new term loan B and released price talk on the transaction.
Also, nThrive TSG (MedAssets Software Intermediate Holdings Inc.), ERT (eResearchTechnology Inc.), Women’s Care Holdings Inc. LLC and Grab Holdings Inc. joined this week’s new issue calendar.
PPD comes to market
PPD hosted a lender call at 1:30 p.m. ET on Monday to launch a $2.55 billion term loan B (Ba2/BB-) talked at Libor plus 225 basis points to 250 bps with a 0.5% Libor floor, an original issue discount of 99 and 101 soft call protection for six months, a market source said.
Commitments are due at noon ET on Thursday, the source added.
J.P. Morgan Securities LLC is the left lead on the deal that will be used to help refinance an existing term loan B due 2022.
PPD is a Wilmington, N.C.-based contract research organization focused on clinical development and laboratory services.
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