iHeartCommunications sets discount; Huntsworth reveals talk; First Brand deadline emerges

By Sara Rosenberg

New York, July 15 – In the primary market on Wednesday, iHeartCommunications Inc. firmed the original issue discount on its term loan at the middle of guidance, and Huntsworth plc released price talk on its first-lien term loan with launch.

iHeartCommunications finalized the original issue discount on its $450 million senior secured term loan due 2026 (B1/B+) at 95.5, the middle of the 95 to 96 talk, according to a market source.

As before, the term loan is priced at Libor plus 400 basis points with a 0.75% Libor floor and has 101 soft call protection for one year.

Huntsworth held its lender call and announced talk on its $300 million seven-year first-lien term loan B (B2) at Libor plus 525 bps with a 0.5% Libor floor, an original issue discount of 96 and 101 soft call protection for six months, a market source remarked.

Furthermore, First Brands Group LLC announced the commitment deadline for its incremental first-lien term loan, and Tosca Services LLC joined this week’s new issue loan calendar.

© 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.