Belfor, Oregon Clean Energy, Alera loan changes surface; Neustar discloses guidance

By Sara Rosenberg

New York, Feb. 14 – In the primary market on Thursday, Belfor finalized the spread on its first-lien term loan at the low side of guidance, added a step-down and modified the original issue discount, and Oregon Clean Energy LLC increased the size of its first-lien term loan and lowered pricing.

Belfor set pricing on its $585 million seven-year first-lien term loan (Ba3/B) at Libor plus 400 basis points, the low end of the Libor plus 400 bps to 425 bps talk, added a 25 bps step-down at 4.5 times net total leverage and changed the original issue discount to 99.5 from 99, according to a market source.

Oregon Clean Energy raised its seven-year first-lien term loan to $530 million from $500 million and cut the spread to Libor plus 375 bps from Libor plus 400 bps, a market source remarked.

Also, Alera Group revised the issue price on its add-on term loan B, Neustar Inc. released price talk on its term loan with launch, and New Fortress Energy joined the near-term primary calendar.

New Fortress Energy set a lenders’ presentation for 1 p.m. ET on Tuesday to launch a $750 million senior secured term loan B, according to a market source.

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