FirstStudent, Terra Millennium, Creative Artists release guidance; BBB Industries on deck

By Sara Rosenberg

New York, June 16 – In the primary market on Thursday, FirstStudent & FirstTransit, Terra Millennium Corp. and Creative Artists Agency all came out with price talk on their term loan transactions in connection with their lender calls.

FirstStudent held its lender call on Thursday morning and announced price talk on its non-fungible $720 million incremental term loan B due July 21, 2028 and non-fungible $50 million incremental term loan C due July 21, 2028 at SOFR+10 basis points CSA plus 400 bps with a 0.5% floor and an original issue discount of 94 to 95, a market source remarked.

The term loan debt, which is being sold as a strip, has a 7.5 bps ESG permanent step-down based on outlined KPI, tested in June 2025, and 101 soft call protection for six months.

Furthermore, BBB Industries LLC emerged with plans to bring its buyout financing first-lien term loan B to market next week.

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