GFL Environmental term loan breaks; Entegris trades up; Nord Anglia accelerates deadline

By Sara Rosenberg

New York, Jan. 20 – GFL Environmental Inc. set the spread on its amended and extended first-lien term loan at the low end of talk and finalized the original issue discount at the tight side of guidance before freeing up for trading on Friday.

GFL Environmental firmed pricing on its roughly $1.287 billion senior secured first-lien term loan due May 31, 2027 at SOFR plus 300 basis points, the low end of the SOFR plus 300 bps to 325 bps talk, and set the original issue discount at 99.5, the tight end of the 98.5 to 99.5 talk, a market source said.

As before, the term loan has 10 bps CSA, a 0.5% floor and 101 soft call protection for six months.

On Friday, the term loan made its way into the secondary market, with levels quoted at 99 5/8 bid, par 1/8 offered, another source added.

Also, Entegris Inc. saw its term loan move a little higher in the secondary market as the company announced plans to sell its QED Technologies International Inc. business.

In more happenings, Nord Anglia Education (Fugue Finance) moved up the commitment deadline for its term loans, and Brazos Midstream (Brazos Delaware II LLC), EisnerAmper (Eisner Advisory Group LLC) and Caesars Entertainment Inc. joined the near-term primary calendar with plans for new term loans.

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