First Brands, Vistage term loans free to trade; Mariner Wealth accelerates deadline

By Sara Rosenberg

New York, Dec. 12 – First Brands Group LLC increased the size of its non-fungible incremental senior secured first-lien term loan and finalized the original issue discount at the middle of guidance before breaking for trading on Monday, and Vistage Worldwide’s add-on first-lien term loan hit the secondary market too.

First Brands raised its non-fungible incremental senior secured first-lien term loan due March 30, 2027 to $425 million from $300 million and firmed the original issue discount at 93.5, the midpoint of the 93 to 94 talk, according to a market source.

As before, the incremental term loan is priced at SOFR+CSA plus 500 basis points with a 1% floor and has 101 soft call protection for six months. CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

In more happenings, Mariner Wealth Advisors moved up the commitment for its incremental first-lien term loan, and Walker & Dunlop Inc. came to market with an incremental term loan B-2.

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