Aramark, JBS USA free to trade; Entercom updated; Hostess Brands accelerates deadline

By Sara Rosenberg

New York, Dec. 10 – Aramark Services Inc. set the spread on its first-lien term loan at the low end of guidance and tightened the original issue discount before freeing up for trading on Tuesday, and JBS USA Lux SA’s term loan hit the secondary market as well.

Specifically, Aramark finalized pricing on its $900 million seven-year first-lien term loan B-4 at Libor plus 175 basis points, the low end of the Libor plus 175 bps to 200 bps talk, and changed the original issue discount to 99.875 from 99.5. As before, the term loan has a 0% Libor floor and 101 soft call protection for six months.

Recommitments were due at noon ET on Tuesday and the term loan B-4 began trading in the afternoon, with levels quoted at par ¼ bid, par ½ offered.

JBS USA’s $1,891,000,000 senior secured term loan B (Ba2/BBB-) due May 1, 2026 broke for trading with levels quoted at par 3/8 bid, par ¾ offered. Pricing on the term loan is Libor plus 200 bps with a 0% Libor floor and it was issued at par.

In other happenings, Entercom set the issue price on its term loan B at the tight side of talk, Hostess Brands LLC moved up the commitment deadline for its add-on term loan and PCI Gaming Authority surfaced with new deal plans.

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