Victra changes surface; Solenis, Doosan Bobcat disclose price talk; Perrigo joins calendar

By Sara Rosenberg

New York, March 28 – In the primary market on Monday, Victra (LSF9 Atlantis Holdings LLC) increased the size of its term loan B, firmed the spread at the high end of guidance, widened the original issue discount, revised the call protection and made some changes to documentation.

Victra raised its seven-year term loan B to $620 million from $600 million, finalized pricing at SOFR plus 725 basis points, the high end of the SOFR plus 700 bps to 725 bps talk, adjusted the original issue discount to 96 from 98 and changed the call protection to a 101 hard call for one year from a 101 soft call for one year, according to a market source.

Furthermore, amortization was revised to 5% per annum, MFN was modified to 50 bps for life with no carve-outs, Serta/J Crew/Chewy protections were added, and certain baskets were tightened, including the incremental facilities, the source said.

The term loan still has a 0.75% floor.

Also, Solenis and Doosan Bobcat released price talk on their term loan transactions with launch, and Perrigo Co. plc 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.