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Globalfoundries firms loan terms; Wencor, Idera, Distribution International join calendar
By Sara Rosenberg
New York, May 24 – In the primary market on Friday, Globalfoundries finalized the spread on its downsized U.S. term loan B at the high end of guidance.
Additionally, Wencor (Jazz Acquisition Inc.), Idera Inc. and Distribution International surfaced with new deal plans.
Wencor set a bank meeting for 1 p.m. ET in New York on Wednesday to launch $605 million of credit facilities, according to a market source.
Idera scheduled a lender call for 10:30 a.m. ET on Wednesday to launch a fungible $100 million add-on first-lien term loan due 2024, a market source said.
Distribution International will hold a lender call at 2 p.m. ET on Tuesday to launch an amendment and extension of its $206 million first-lien term loan, according to a market source.
In other happenings, AlixPartners LLP’s euro term loan B made its way into the secondary market during the session.
AlixPartners’ €350 million covenant-lite term loan B (B2/B+) due April 2024 was quoted at 100¼ bid, 100¾ offered, a market source remarked.
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