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Pro Mach brings incremental term loan to market, frees to trade; Hubbard holds steady
By Sara Rosenberg
New York, Dec. 19 – Pro Mach Group Inc. launched an incremental first-lien term loan B with a call in the morning and firmed pricing in the afternoon at talk, and then the debt made its way into the secondary market on Monday.
Pro Mach Group emerged in the morning with plans to hold a lender call at 11:30 a.m. ET to launch a non-fungible $100 million incremental covenant-lite first-lien term loan B (B1/B-) due Aug. 31, 2028 at talk of SOFR+10 basis points CSA plus 500 bps with a 0.5% floor, an original issue discount of 95 and 101 soft call protection for six months, a market source remarked.
In more happenings, Hubbard Radio LLC’s term loan held steady despite a ratings downgrade by Moody’s Investors Service.
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