Solenis frees to trade following OID change; Doosan Bobcat term loan updates surface

By Sara Rosenberg

New York, March 31 – Solenis tightened the original issue discount on its incremental term loan B and then freed to trade on Thursday above the new issue price.

Solenis revised the original issue discount on its $300 million incremental term loan B due November 2028 (B2/B-) to 98 from talk in the range of 97 to 97.5, according to a market source.

As before, the incremental term loan is priced at SOFR+10 basis points CSA plus 450 bps with a 0.5% floor and has 101 soft call protection for six months.

On Thursday afternoon, the incremental term loan broke for trading, with levels quoted at 98¼ bid, 99¼ offered, another source added.

Goldman Sachs and BofA Securities Inc. are leading the deal that will be used to pay down ABL borrowings and to add cash to balance sheet for general corporate purposes.

In other news, Doosan Bobcat trimmed the spread on its term loan B and modified original issue discount guidance.

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