Extended Stay America, Sensata Technologies updated; ADT revises commitment deadline

By Sara Rosenberg

New York, Sept. 10 – Extended Stay America Inc. (ESH Hospitality Inc.) modified the original issue discount on its term loan B on Tuesday, and Sensata Technologies Inc. revealed that it intends to reduce the size of its amended and extended term loan B.

Extended Stay adjusted the original issue discount on its $631 million seven-year covenant-lite term loan B (Ba2/BB+) to 99.75 from 99.5. As before, the term loan is priced at Libor plus 200 basis points with a 0% Libor floor and has 101 soft call protection for six months.

Sensata anticipates trimming its seven-year covenant-lite senior secured term loan B to $472 million from roughly $913 million. Talk on the term loan is Libor plus 175 bps with a 0% Libor floor, an original issue discount of 99.5 to 99.75 and 101 soft call protection for six months.

In more primary happenings, ADT Inc. (Prime Security Services Borrower LLC) accelerated the commitment deadline for its $3.025 billion to $3.275 billion seven-year senior secured term loan B (Ba3/BB-) to noon ET on Thursday from noon ET on Friday.

Also, Inmarsat plc, Cumulus Media Inc., ALKU LLC, B&G Foods Inc., Virtu Financial LLC (VFH Parent LLC) and Wells Enterprises Inc. released price talk with launch, and ZelisRedCard, Merrill Corp. and MeridianLink emerged with new deal plans.

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