Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for ON Semiconductor Corp. > News item |
Select Medical hits secondary; KAR Auction revises loan; ON Semiconductor releases guidance
By Sara Rosenberg
New York, March 3 – Select Medical Holdings Corp. firmed pricing on its $625 million term loan F (Ba2/B+) at Libor plus 500 basis points, the high end of the Libor plus 475 bps to 500 bps talk, set the original issue discount on at 98, the wide end of the 98 to 98.5 guidance, and extended the 101 soft call protection to one year from six months, according to a market source.
With final terms in place, the term loan F was quoted at 98¾ bid, 99¼ offered, a trader remarked.
In more happenings, KAR Auction Services Inc. came out with updates to its term loan B-3 that included a potential upsizing, a reduction in the spread and firming the issue price at the tight end of talk.
KAR Auction Services modified its seven-year term loan B-3 proposed amount to a range of $1.15 billion to $1.35 billion from just $1.15 billion, trimmed pricing to Libor plus 350 basis points from talk of Libor plus 375 bps to 400 bps and set the original issue discount at 99, the tight end of the 98.5 to 99 talk, a market source said.
Also, ON Semiconductor Corp. released price talk on its term loan B with launch, and Sears Holdings Corp. and Survey Sampling International LLC joined the new issue calendar.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.