Garda, Knot, Foley Products, East West break; Culligan updated; Del Monte accelerated

By Sara Rosenberg

New York, Feb. 11 – Garda World Security Corp. lifted the spread and original issue discount on its incremental term loan, and The Knot removed pricing step-downs from its first-lien term loan and made some changes to documentation, and then these deals freed to trade on Friday.

Other transactions to make their way into the secondary market during the session included Foley Products Co. LLC and East West Manufacturing.

In other news, Covis Pharma widened the original issue discount on its first-lien U.S. and euro term loans, Culligan International Co. added ticking fees to its new incremental funded term loan and launched an amendment to its existing term loans to move to SOFR, and Del Monte accelerated the commitment deadline for its term loan B.

Garda World Security raised pricing on its $700 million seven-year incremental term loan (B2/B/BB+) to SOFR plus 425 basis points from SOFR plus 400 bps and adjusted the original issue discount to 99 from 99.5, according to a market source.

The 0% floor and 101 soft call protection for six months on the term loan were unchanged.

Recommitments were due at 10 a.m. ET on Friday, and the term loan broke for trading in the afternoon, with levels quoted at 99 1/8 bid, 99 5/8 offered, another source added.

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