Guidehouse frees to trade; SRS Distribution changes emerge; Buckeye gives price talk

By Sara Rosenberg

New York, Oct. 7 – Guidehouse LLP’s credit facilities freed up for trading on Monday, with the $640 million incremental covenant-lite first-lien term loan (B1/B-) due May 2025 quoted at 99 1/8 bid, 99½ offered and the $200 million incremental covenant-lite second-lien term loan (Caa1/CCC) due May 2026 quoted at 98½ bid, 99½ offered.

Pricing on the fungible incremental first-lien term loan is Libor plus 450 basis points with a 0% Libor floor and it was sold at an original issue discount of 99. The debt has 101 soft call protection for six months.

Moving to the primary market, SRS Distribution Inc. raised pricing on its non-fungible $250 million incremental term loan (B3/B) to Libor plus 450 bps from talk in the range of Libor plus 400 bps to 425 bps and changed the original issue discount to 98 from 99.

Additionally, Buckeye Partners LP announced price talk on its $1.75 billion seven-year covenant-lite first-lien term loan at Libor plus 300 bps to 325 bps with a 0% Libor floor and an original issue discount of 99.5.

Also, Upstream Rehabilitation, Berry Global Group Inc. and Aimbridge Hospitality joined this week’s primary calendar.

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