Ingenovis frees to trade; Sabre term loan gains on paydown news; Nielsen updates tranching

By Sara Rosenberg

New York, Nov. 21 – Ingenovis Health Inc. finalized the original issue discount on its incremental first-lien term loan at the wide end of guidance and then the debt made its way into the secondary market on Monday morning.

Ingenovis set the original issue discount on its non-fungible $85 million incremental covenant-lite first-lien term loan (B2/B) due March 6, 2028 at 95, the wide end of the 95 to 96 talk, market sources remarked.

As before, the incremental term loan is priced at SOFR+10 basis points CSA plus 425 bps with a 0.5% floor, and has 101 soft call protection for six months.

On Monday, the incremental term loan freed to trade, with levels quoted at 95½ bid, 97 offered, sources added.

Also, Sabre GLBL Inc.’s 2024 term loan headed higher in trading after the company announced plans to repay the debt in full with proceeds from a bond offering.

Furthermore, Nielsen Holdings plc (Neptune Bidco US Inc.) came out with an update on tranche sizes for its U.S. and euro term loan Bs.

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