International Textile, Ferro, BCP Renaissance break; NAI, ProAmpac, Apergy tweak deals

By Sara Rosenberg

New York, April 20 – Deals from International Textile Group Inc. and Ferro Corp. freed to trade on Friday, and BCP Renaissance Parent LLC’s (Blackstone) term loan emerged in the secondary market after an upsizing and pricing finalizing at the high end of guidance.

International Textile’s term loans began trading on Friday, with the $585 million six-year first-lien term loan quoted by one trader at par bid, 100½ offered and by a second trader at 99¾ bid, 100¼ offered, and the $125 million seven-year second-lien term loan quoted by both traders at 97 bid, 98 offered.

Ferro’s term loans emerged in the secondary market too, with the $355 million covenant-light term loan B-1 due February 2024, $235 million covenant-light term loan B-2 due February 2024 and $230 million covenant-light term loan B-3 due February 2024 all quoted at 100¼ bid, 100¾ offered, according to a trader.

Also, NAI Entertainment Holdings LLC trimmed the spread on its term loan B and tightened the original issue discount, ProAmpac modified the issue price on its add-on term loan, and Apergy Corp. increased the size of its term loan B, lowered the spread and revised the original issue discount.

Furthermore, Frontera Generation Holdings LLC moved up the commitment deadline on its credit facilities, and Alliant Holdings Intermediate LLC and Jo-Ann Stores LLC joined the near-term primary calendar.

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