| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for STG Logistics > News item |
STG Logistics revises incremental term loan issue price; Hemisphere Media reveals talk
By Sara Rosenberg
New York, July 28 – In the primary market on Thursday, STG Logistics modified the original issue discount on its incremental first-lien term loan.
Also, Hemisphere Media Holdings LLC came out with price talk on its term loan B in connection with its lender call.
STG updated
STG Logistics changed the original issue discount on its fungible $45 million incremental first-lien term loan to 96.75 from 96.5, a market source remarked.
Like the existing term loan, the incremental term loan is priced at SOFR+CSA plus 600 basis points with a 0.75% floor and has 101 soft call protection that expires in March 2023. CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.
Recommitments were due at noon ET on Thursday, the source added.
Antares Capital is leading the deal.
STG is a Bensenville, Ill.-based provider of facilities-based containerized logistics services.
Hemisphere guidance
Hemisphere Media held its lender call in the afternoon and announced price talk on its $370 million seven-year covenant-lite term loan B (B2/B) at SOFR plus 575 bps to 600 bps with a 0.5% floor and an original issue discount of 90 to 91, according to a market source.
The term loan has 101 soft call protection for one year.
Commitments are due at noon ET on Aug. 11.
Wells Fargo Securities LLC, Truist Bank, Fifth Third Bank and Deutsche Bank Securities Inc. are leading the deal that will be used to help fund the acquisition by Gato Investments LP of the 61% of Hemisphere Media that it does not currently own for $7.00 per share.
Closing is expected in the third quarter, subject to customary conditions, including approval by Hemisphere Media stockholders and regulatory approvals.
Hemisphere Media is a Coral Gables, Fla.-based pure-play media company targeting the U.S. Hispanic and Latin American markets.
© 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.