BroadStreet revises term loan B deadline; LogMeIn discloses first-lien loan guidance

By Sara Rosenberg

New York, Aug. 3 – In the primary market on Monday, BroadStreet Partners Inc. accelerated the commitment deadline for its term loan B, and LogMeIn Inc. released price talk on its first-lien term loan B in connection with its lender call.

Specifically, BroadStreet Partners moved up the commitment deadline for its non-fungible $175 million term loan B (B2/B) due Jan. 20, 2027 to noon ET on Tuesday from noon ET on Wednesday, a market source remarked.

Talk on the term loan is Libor plus 375 basis points with a 1% Libor floor, an original issue discount of 97 and 101 soft call protection for six months.

LogMeIn announced price talk on its $1.95 billion seven-year first-lien term loan B (B1/B-) at Libor plus 475 bps to 500 bps with a 0% Libor floor and an original issue discount of 97, according to a market source.

The first-lien term loan has 101 soft call protection for six months.

Commitments are due at noon ET on Aug. 14, the source added.

And, in more happenings, Veritas Technologies joined this week’s new issue loan calendar with a U.S. and euro term debt refinancing transaction.

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