Entain sets talk on amend and extend transaction; Altice, BJ’s Wholesale ready deals

By Sara Rosenberg

New York, Nov. 28 – In the loan market on Monday, Entain plc came to market with a U.S. add-on term loan B and a euro term loan B that will repay and extend portions of its existing euro term loan B.

Entain held a lender call at 11 a.m. ET on Monday, launching a fungible $250 million add-on term loan B (Ba1) due October 2029 at talk of SOFR+10 basis points CSA plus 350 bps with a 0.5% floor and an original issue discount of 98, market sources remarked. Call protection on the add-on is the same as the call protection on the existing U.S. term loan B.

The company also launched a €500 million term loan B (Ba1) due June 2028 at talk of Euribor plus 375 bps with a 0% floor, a discount of 97 and 101 soft call protection for one year.

Also, Altice International joined this week’s primary calendar with an amendment and extension transaction for U.S. and euro term loans, and BJ’s Wholesale Club Inc. emerged with plans for an amended and extended first-lien term loan.

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