RelaDyne modifies issue price, frees to trade; Howden quick-to-market term loan breaks

By Sara Rosenberg

New York, March 24 – RelaDyne Inc. (AIP RD Buyer Corp.) widened the original issue discount on its add-on first-lien term loan B-2, and then the debt made its way into the secondary market on Friday, with levels quoted above the revised discount price.

RelaDyne changed the original issue discount on its fungible $350 million add-on first-lien term loan B-2 (B2) due December 2028 to 95 from talk in the range of 96.5 to 97, according to a market source.

Like the existing $250 million term loan B-2 due December 2028, the add-on term loan B-2 is SOFR plus 500 basis points with a 0.5% floor and no CSA.

Also, Howden Group Holdings Ltd. (Hyperion Refinance Sarl) held a lender call in the morning to launch an incremental first-lien term loan B, and the debt allocated and started trading in the afternoon.

© 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.