Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Thryv Inc. > News item |
Science Applications frees to trade; Duff & Phelps updates terms; Thryv shelves deal
By Sara Rosenberg
New York, March 5 – Science Applications International Corp. lifted pricing on its incremental term loan B and widened the original issue discount, and then the debt made its way into the secondary market on Thursday.
Pricing on the $600 million seven-year incremental senior secured covenant-lite term loan B (Ba1/BB+) was raised to Libor plus 225 basis points from Libor plus 200 bps, a market source remarked.
In the morning the original issue discount talk on the term loan was changed to a range of 99 to 99.5 from 99.5, and in the afternoon the discount finalized at 99, the source continued.
As before, the term loan has a 0% Libor floor and 101 soft call protection for six months.
On Thursday afternoon, the loan began trading with levels quoted at 99¼ bid, 99¾ offered, another source added.
In other news, Duff & Phelps set the spread on its U.S. term loan at the low end of revised talk and the spread on its euro term loan at the high end of revised talk, and extended the call protection on both tranches, and Thryv Inc. postponed its credit facilities transaction.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.