Belfor frees to trade; Packers Sanitation retreats some more; Clarios accelerates deadline

By Sara Rosenberg

New York, April 19 – Belfor Holdings Inc. tightened the original issue discount on its add-on term loan and then the debt made its way into the secondary market on Wednesday, with levels quoted above the revised issue price.

Belfor adjusted the original issue discount on its fungible $300 million add-on term loan (B1) due 2026 to 99.75 from talk in the range of 99 to 99.5, a market source said.

Pricing on the add-on term loan is SOFR plus 425 basis points with a 0.5% floor.

Also, Packers Sanitation Services Inc.’s (PSSI) term loan continued to slide in trading on Wednesday in reaction to news reports that Cargill Inc. has canceled its contracts with the company.

Meanwhile, in other happenings, Clarios Global LP moved up the commitment deadline for its term loan B, and Tekni-Plex Inc. (Trident TPI Holdings Inc.), Tank Holding Corp., Talen Energy Supply LLC and Signant Health (Bracket Intermediate Holding Corp.) joined this week’s new issue 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.