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Cole-Parmer frees up; Flexitallic bid at OID; 84 Lumber, FleetCor disclose price guidance
By Sara Rosenberg
New York, Oct. 29 – Cole-Parmer Instrument Co. (Curie Merger Sub LLC) saw its first-lien term loan allocate and start trading on Tuesday, with levels quoted above its original issue discount, and Flexitallic Group’s (FGA Acquisition Corp.) term loan B continued to be bid in line with its issue price.
Over in the primary market, 84 Lumber Co. and FleetCor Technologies Inc. released price talk with launch, and Allsup’s, Air Canada and TRC Cos. Inc. joined this week’s primary calendar.
Cole-Parmer breaks
Cole-Parmer Instrument’s $770 million seven-year first-lien term loan (B2/B) began trading on Tuesday, with levels quoted at 99¾ bid, par ¼ offered, according to a market source.
Pricing on the first-lien term loan is Libor plus 425 basis points with a 25 bps step-down upon a first-lien leverage ratio of 0.5x inside of closing date leverage and a 0% Libor floor. The debt was sold at an original issue discount of 99.5 and has 101 soft call protection for six months.
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