Westinghouse term loan hits secondary; Allspring comes to market; Flow Control readies deal

By Sara Rosenberg

New York, May 23 – Westinghouse (Brookfield WEC Holdings Inc.) finalized the original issue discount on its incremental term loan at the wide end of revised guidance and then the debt freed to trade on Monday.

Westinghouse firmed the original issue discount on its $550 million incremental term loan due August 2025 (B2/B/B+) at 96, the wide end of revised talk of 96 to 96.5 and wider than initial talk of 97, a market source remarked.

The incremental term loan is priced at SOFR plus 375 basis points with a 0.5% floor.

On Monday, the incremental term loan made its way into the secondary market, with levels quoted at 96 bid, 97 offered, another source added.

In more happenings, Allspring Global Investments (Allspring Buyer LLC) approached lenders with an incremental term loan B and Flow Control Group (FCG Acquisitions Inc.) joined this week’s primary calendar.

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