WHP Global breaks for trading after size change; Cobham strengthens; RelaDyne accelerated

By Sara Rosenberg

New York, Jan. 11 – WHP Global (WH Borrower LLC) increased the size of its non-fungible covenant-lite first-lien term loan B and then the debt freed to trade on Wednesday above its original issue discount.

WHP Global raised its non-fungible covenant-lite first-lien term loan B (B2/B) due Feb. 15, 2027 to $175 million from $150 million, and kept pricing at SOFR plus 550 basis points with a 0.5% floor and an original issue discount of 96, according to a market source.

As before, the term loan has call protection of 105 for life that is required on all mandatory and optional prepayments, and 0 bps CSA.

Also, Cobham plc’s U.S. term loan B was higher in the secondary market as the company is offering to prepay some of the debt with asset sale proceeds and the market in general was stronger.

And, in more happenings, RelaDyne Inc. moved up the commitment deadline for its incremental first-lien term loan B to this week from next week.

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