Emerald Performance updates emerge; Ascensus, GoDaddy, Tutor Perini, Windstream set talk

By Sara Rosenberg

New York, Aug. 6 – In the primary market on Thursday, Emerald Performance Materials LLC increased the size of its first-lien term loan, trimmed the spread and modified the original issue discount.

The company raised its five-year covenant-lite first-lien term loan to $450 million from $425 million, cut pricing to Libor plus 400 basis points from talk in the range of Libor plus 425 bps to 450 bps and changed the original issue discount to 99 from 98.5, according to a market source.

As before, the term loan has a 1% Libor floor and 101 soft call protection for six months.

The company’s now $525 million of credit facilities (B2/B) also include a $75 million revolver.

Commitments remained due at 5 p.m. ET on Thursday.

Additionally, Ascensus (AqGen Ascensus Inc.), GoDaddy Inc., Tutor Perini and Windstream Holdings Inc. came out with price talk on their loan transactions with launch.

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