Informatica tweaks deal; Authentic Brands discloses talk; Huntsworth readies loan

By Sara Rosenberg

New York, July 9 – In the primary market on Thursday, Informatica LLC modified the original issue discount on its incremental second-lien term loan.

Informatica tightened the original issue discount on its fungible $50 million incremental covenant-lite second-lien term loan due February 2025 to 99.875 from talk in the range of 99 to 99.5, according to a market source.

As before, pricing on the incremental second-lien term loan is a fixed rate of 7.125% and the debt is non-callable until Feb. 25, 2021, then callable at 102 for a year and at 101 for a year, all of which matches existing second-lien loan terms.

Recommitments were due at 5 p.m. ET on Thursday and allocations are targeted for Friday morning, the source added.

Nomura is leading the deal that will be used to repay revolver borrowings and to fund cash to the balance sheet.

Closing is expected during the week of July 13.

Also, Authentic Brands Group LLC released price guidance on its incremental term loan with its launch, and Huntsworth plc joined the near-term new issue calendar.

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