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Cinemark term loan B frees to trade; Inmar sets talk; Phinia, Emerald Expositions on deck
By Sara Rosenberg
New York, May 22 – Cinemark Holdings Inc.’s first-lien term loan B made its way into the secondary market on Monday, with levels quoted above its original issue discount.
Cinemark’s $650 million seven-year first-lien term loan B (Ba2/BB) freed to trade on Monday, with levels quoted at 98¾ bid, 99¼ offered, according to a market source.
Pricing on the term loan is SOFR plus 375 basis points with a 0.5% floor, and it was sold at an original issue discount of 98.5. The debt has 101 soft call protection for one year.
Meanwhile, in the primary market, Inmar Inc. approached lenders with a new first-lien term loan to help refinance its existing capital structure, and Phinia Inc. and Emerald Expositions (Emerald X Inc.) joined this week’s new issue calendar.
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