JBS prices rich; oversubscribed Kestra upsizes; bank loan funds see 23rd straight outflow

By Paul A. Harris

Portland, Ore., April 26 – On Friday JBS USA Lux SA priced its $1.9 billion seven-year term loan B (Ba2) with a 250 basis points spread to Libor at 99.75, rich to earlier talk of 99.5.

Kestra Financial Inc. upsized its oversubscribed seven-year term loan to $425 million from $410 million and set the spread at the tight end of spread talk.

And the dedicated bank loan funds saw $237 million of cash outflows in the week to Wednesday’s close, according to a market source.

It was the 23rd consecutive weekly outflow, the source added.

Joining next week’s primary calendar, VeriFone Systems, Inc. set a lender call for 10:30 a.m. ET on Monday for a $300 million fungible, incremental first lien term loan due Aug. 20, 2025 (B1/B), according to a market source.

Mister Car Wash Holdings, Inc. has scheduled a lender call at 3:30 p.m. ET on Monday to launch a $775 million first-lien term loan, a $40 million delayed-draw first-lien term loan and a $250 million second-lien term loan, according to a market source.

The first-lien loans will have a term of seven years, and the privately placed second-lien loan will have a term of eight years.

The facility also includes a $75 million revolver.

© 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.