Galderma term loan rises with private placement news; Dave & Buster’s changes emerge

By Sara Rosenberg

New York, June 28 – Galderma’s first-lien term loan headed higher in the secondary market on Wednesday in reaction to recent news that the company is doing a private placement of newly issued shares.

Galderma’s first-lien term loan rose to 99 bid, par offered on Wednesday from 98 bid, 98˝ offered on Tuesday as investors reacted to the company’s announcement from earlier this week of a roughly $1 billion private placement of newly issued shares, a trader remarked.

The private placement is being done with a group consisting of current shareholders, new investors and management and is expected to close in the coming weeks.

Meanwhile, in the primary market, Dave & Buster’s Inc. increased the size of its term loan B and firmed the original issue discount at the tight end of guidance after accelerating the commitment deadline in the morning.

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