Avis Budget, Ellucian disclose talk; SPX Flow, Imprivata, Belfor Holdings ready deals

By Sara Rosenberg

New York, March 7 – In the primary market on Monday, Avis Budget Group Inc. held a lender call, launching a $500 million seven-year term loan C (Ba1/BB+) talked at SOFR+10 basis points CSA plus 275 bps to 300 bps with a 0% floor, an original issue discount of 98.5 and 101 soft call protection for six months, according to a market source.

Commitments are due at the end of the day on March 14, the source added.

Ellucian also hosted a call and launched to investors a non-fungible $325 million senior secured incremental first-lien term loan (B-) due October 2027 talked at SOFR plus 400 bps to 425 bps with a 0.5% floor, an original issue discount of 99 and 101 soft call protection for six months, a market source remarked.

The term loan has no CSA.

Commitments are due at 1 p.m. ET on Thursday, the source added.

In addition, SPX Flow Inc., Imprivata and Belfor Holdings Inc. all joined this week’s new issue calendar.

© 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.