TransDigm, Xerox, Cloud Software break; Buckeye, Iqvia, Fairbanks, System One revised

By Sara Rosenberg

New York, Nov. 15 – TransDigm Group Inc. tightened the original issue discount on its first-lien term loan J and moved up the commitment deadline, and Xerox Corp. upsized its first-lien term loan and modified the issue price, and then both of these deals freed to trade on Wednesday.

Also, Cloud Software Group Inc. launched an add-on term loan B in the morning, upsized it and set the original issue discount at the tight end of talk in the afternoon, and broke the debt for trading late in the session.

In more happenings, Buckeye Partners LP set the spread on its term loan B at the low end of guidance and changed the issue price, Iqvia Inc. raised the size of its term loan B, and Fairbanks Morse Defense (Arcline FM Holding LLC) increased the size of its incremental first-lien term loan and revised the original issue discount.

Furthermore, System One revised the issue price on its add-on term loan B, and Tekni-Plex Inc. (Trident TPI Holdings Inc.) accelerated the commitment deadline for its incremental first-lien term loan B-4.

TransDigm changed the original issue discount on its $1 billion first-lien term loan J due February 2031 (Ba3/B+) to 99.75 from talk in the range of 99 to 99.5, according to a market source.

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