Castlelake, Conduent, Wrench Group break; RugsUSA, Loyalty, Florida Food, USNR revised

By Sara Rosenberg

New York, Oct. 8 – Castlelake Aviation Ltd. firmed the spread on its first-lien term loan B at the low side of guidance before freeing up for trading on Friday, and deals from Conduent Inc. and Wrench Group LLC made their way into the secondary market as well.

In other happenings, RugsUSA (Runner Buyer Inc.) raised pricing on its term loan B and sweetened the call protection, and Loyalty Ventures Inc. (LoyaltyOne) lifted pricing on its term loan B and set the original issue discount at the wide end of talk.

Also, Florida Food Products reworked its first- and second-lien term loan sizes, spreads, Libor floor and issue prices, USNR Wood Fiber raised pricing on its term loan B, and EyeCare Partners LLC moved up the commitment deadline for its term loans.

Furthermore, Anthology, Heubach Group, Filtration Group and AdThrive (CMI Marketing Inc.) joined the near-term primary calendar.

In its deal, Castlelake Aviation finalized pricing on its $1.18 billion five-year senior secured first-lien term loan B (Ba3/BB/BB+) at Libor plus 275 basis points, the low end of the Libor plus 275 bps to 300 bps talk, according to a market source.

The term loan still has a 0.5% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

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