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TMS revises OID; Truck Hero, PrimeSource, Life Time, Pike, Warner, PetVet, CityMD set talk
By Sara Rosenberg
New York, Jan. 11 – In the primary market on Monday, TMS International Corp. tightened the original issue discount on its incremental term loan B and accelerated the commitment deadline.
Specifically, TMS International changed the original issue discount on its non-fungible $150 million incremental term loan B due 2024 (B1/BB-) to 99 from talk in the range of 97 to 98, a market source remarked.
As before, the term loan is priced at Libor plus 275 basis points with a 1% Libor floor and has 101 soft call protection for six months.
Commitments are due at noon ET on Tuesday, moved up from 5 p.m. ET on Thursday, the source added.
J.P. Morgan Securities LLC is leading the deal that will repay a bridge loan used for the acquisition of the Stein Cos.
Also, Truck Hero Inc., PrimeSource (Park River Holdings Inc.), Life Time Inc., Pike Corp., Warner Music Group (WMG Acquisition Corp.), PetVet Care Centers LLC and CityMD (WP CityMD Bidco LLC) released price talk with launch.
Furthermore, Iridium Satellite LLC, Cole-Parmer Instrument Co. LLC (CPI HoldCo LLC), Ineos Quattro and Sotera Health Co. joined this week’s calendar.
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