BlueTriton loan breaks; Brook accelerated; ICU, ScionHealth, Digital Room set talk

By Sara Rosenberg

New York, Dec. 2 – BlueTriton Brands (Triton Water Holdings Inc.) saw its incremental term loan B surface in the secondary market late in the day on Thursday, with levels quoted above its original issue discount.

In more happenings, Brook + Whittle (Merion Rose Merger Sub Inc.) moved up the commitment deadline for its first-lien term loan.

Furthermore, ICU Medical Inc., ScionHealth (Knight Health Holdings LLC), Generation Bridge II LLC, Digital Room and Liquid Tech Solutions LLC disclosed price talk with launch, and Plaskolite LLC and Anticimex Inc. joined the near-term new issue calendar.

BlueTriton’s fungible $250 million senior secured incremental covenant-lite term loan B due March 31, 2028 (B1/B) broke for trading on Thursday with levels quoted at 98 5/8 bid, 98 7/8 offered, according to a trader.

Pricing on the incremental term loan is Libor plus 350 basis points with step-downs and a 0.5% Libor floor, in line with existing term loan pricing, and the new debt was sold at an original issue discount of 98.56. The incremental and existing term loan are getting 101 soft call protection for six months.

Morgan Stanley Senior Funding Inc. is the left lead on the deal that will be used to fund a distribution to shareholders and pay related fees and expenses.

Closing is expected in mid-December.

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