Blackstone Mortgage frees to trade; Uber gains with earnings; Tenneco, Starwood set talk

By Sara Rosenberg

New York, Nov. 1 – Blackstone Mortgage Trust Inc. increased the size of its add-on term loan B-4 and tightened the original issue discount before the debt broke for trading on Tuesday.

Blackstone raised its fungible add-on term loan B-4 due 2029 to $325 million from $250 million and adjusted the original issue discount to 97 from 96.5, according to a market source.

As before, pricing on the add-on term loan is SOFR plus 350 basis points with a 0.5% floor and no CSA, and the add-on loan as well as the existing $499 million term loan B-4 are getting 101 soft call protection for six months.

Also, Uber Technologies Inc.’s term loans headed higher in the secondary market following the release of favorable third quarter numbers.

And, in more happenings, Tenneco Inc. (Pegasus Merger Co.) and Starwood Property Mortgage LLC came out with price talk on their term loan transactions in connection with their lender calls.

© 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.