DTZ, Kellermeyer Bergensons update deals; Media General, Novetta Solutions reveal talk

By Sara Rosenberg

New York, Oct. 24 – DTZ (DTZ U.S. Borrower LLC and DTZ Aus HoldCo Pty Ltd.) on Friday set the original issue discount on its second-lien term loan at the wide end of revised talk, and Kellermeyer Bergensons Services LLC upsized its first-lien term loan as its second-lien term loan was downsized, and widened spreads and the original issue discounts on both tranches.

Also, Media General Inc. and Novetta Solutions came out with price talk on their deals with launch., and Southeast PowerGen LLC, Express Energy Services LLC and Abaco Energy Technologies LLC surfaced with new deal plans.

DTZ finalized on Friday the original issue discount on its $210 million eight-year second-lien term loan (B3/B-) at 98, the high end of revised talk of 98 to 98˝ and wide of initial talk of 99, according to a market source.

The second-lien term loan is priced at Libor plus 825 basis points, after flexing the other day from talk of Libor plus 725 bps to 750 bps, with a 1% Libor floor, and there is call protection of 102 in year one and 101 in year two.

The company’s $1.11 billion credit facility also includes a $150 million revolver (B1/B+), a $470 million seven-year first-lien term loan (B1/B+) and a $280 million delayed-draw term loan (B1/B+).

Pricing on the first-lien term loan and delayed-draw term loans is Libor plus 450 bps.

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