Dell, Extended Stay, Jeld-Wen break; KAR, UFC set changes; B&G, Autodata, Virtu accelerated

By Sara Rosenberg

New York, Sept. 12 – Dell Technologies’ term loan B made its way into the secondary market on Thursday and was trading above its original issue discount, and deals from Extended Stay America Inc. (ESH Hospitality Inc.) and Jeld-Wen Inc. freed up as well.

Dell Technologies’ $4.75 billion term loan B (Baa3/BBB-/BBB-) due September 2025 began trading with levels quoted at par 3/8 bid, par 5/8 offered.

Extended Stay’s $631 million seven-year covenant-lite term loan B (Ba2/BB+) emerged with levels quoted at par bid, par ˝ offered.

Jeld-Wen’s fungible $125 million add-on covenant-lite term loan B due Dec. 14, 2024 broke with levels seen at par bid, par ˝ offered.

Moving to the primary market, KAR Auction Services Inc. lowered the spread on its term loan B to Libor plus 225 bps from talk in the range of Libor plus 250 bps to 275 bps. Meanwhile, UFC tightened the issue price on its add-on first-lien term loan B to par from talk in the range of 99.5 to 99.75.

Also, B&G Foods Inc., Autodata Group and Virtu Financial LLC (VFH Parent LLC) moved up the commitment deadlines for their term loans.

Furthermore, ZelisRedCard, Sotheby’s, Merrill Corp. and MeridianLink released price talk with launch, and Monotype Imaging Holdings Inc. joined the near-term primary calendar.

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