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ION Corporates term loan frees to trade; GoDaddy updates surface; Ontic accelerated
By Sara Rosenberg
New York, July 13 – ION Corporates (Helios Software Holdings Inc.) saw its first-lien term loan B make its way into the secondary market on Thursday, with levels quoted above its original issue discount.
ION Corporates’ $500 million first-lien term loan B due July 2030 broke for trading on Thursday, with levels quoted at 96½ bid, 97¼ offered, a market source said.
The term loan is priced at SOFR plus 425 basis points with a 0% floor and it was sold at an original issue discount of 96. The debt has 101 soft call protection for six months and 50 bps MFN for six months.
Meanwhile, in the primary market, GoDaddy Inc. lowered the spread on its term loan B-5 and removed a pricing step-down, and Ontic (Bleriot US Bidco Inc.) moved up the commitment deadline for its first-lien term loan B.
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