American Airlines, Veritiv, IVC, Flutter, Instructure, Iqvia, 84 Lumber, IMA loans break

By Sara Rosenberg

New York, Nov. 17 – American Airlines Inc. upsized its term loan B, finalized the spread at the low end of talk and tightened the original issue discount, Veritiv Corp. (Verde Purchaser LLC) reduced the size of its term loan B and added call protection, and IVC Evidensia downsized its U.S. term loan B and upsized its euro term loan B, firmed spreads on the U.S. and euro tranches and set the issue price on its sterling term loan B, and then these deals freed to trade on Friday.

Also, Flutter Entertainment plc upsized its term loan B and finalized the original issue discount at the tight end of revised guidance before breaking for trading, and deals from Instructure Holdings Inc., Iqvia Inc., 84 Lumber Co. and IMA Financial Group all hit the secondary market as well.

In other news, Northeast Grocery Inc. released price talk on its term loan B in connection with its lender call.

American Airlines raised its 5.5-year term loan B (Ba2/BB/BB-) to $1.1 billion from $750 million, set pricing at SOFR plus 350 basis points, the low end of the SOFR plus 350 bps to 375 bps talk, and modified the original issue discount to 99 from 98.5, a market source remarked.

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