Birkenstock breaks; Insulet, Press Ganey, Surgery Partners tweak deals; PQ moves deadline

By Sara Rosenberg

New York, April 27 – Birkenstock downsized its U.S. term loan B and firmed pricing at the low end of talk, upsized its euro term loan B and trimmed the spread, and tightened issue prices on both tranches, and then the U.S. loan freed to trade on Tuesday.

In more happenings, Insulet Corp. lowered pricing on its first-lien term loan B and updated the original issue discount, and Press Ganey (Azalea TopCo Inc.) reduced the spread on its new incremental first-lien term loan and set the issue price at the tight side of guidance, and added a repricing of its existing incremental first-lien term loan to the transaction.

Also, Surgery Partners Inc. (Surgery Center Holdings Inc.) raised the spread on its incremental first-lien term loan, reduced the Libor floor, set the original issue discount at the tight end of talk and extended the maturity, and added a maturity extension of its existing term loan to the mix.

Furthermore, PQ Performance Chemicals accelerated the commitment deadline for its first-lien term loan, USIC Holdings Inc. and Digital Media Solutions LLC announced price talk with launch, and ANI Pharmaceuticals Inc. and Cordis (Bayou Intermediate II LLC) joined this week’s primary calendar.

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