ERT frees to trade atop par; Utz revises timing; PrimeSource, Truck Hero ready deals

By Sara Rosenberg

New York, Jan. 8 – ERT (eResearchTechnology Inc.) tightened the issue price on its incremental first-lien term loan, and then the debt made its way into the secondary market on Friday.

ERT modified the issue price on its fungible $750 million incremental first-lien senior secured term loan (B2/B-) due Feb. 4, 2027 to par from talk in the range of 98.79 to 99, a market source remarked.

And, in more happenings, Utz Brands Inc. accelerated the commitment deadline for its $720 million seven-year term loan B (B) to 5 p.m. ET on Tuesday from 2 p.m. ET on Thursday, a market source said.

Talk on the term loan is Libor plus 350 bps with a 0% Libor floor, an original issue discount of 99.25 to 99.5 and 101 soft call protection for six months.

Also, PrimeSource (Park River Holdings Inc.) and Truck Hero Inc. joined the near-term primary calendar.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.