E.W. Scripps breaks; Hostess, Applied revised; WIRB-Copernicus, Liaison tweak timing

By Sara Rosenberg

New York, Dec. 11 – E.W. Scripps Co.’s $761 million covenant-lite term loan B-1 due May 1, 2026 broke for trading on Wednesday, with levels quoted at par 1/8 bid, par 5/8 offered, according to a market source.

Pricing on the term loan is Libor plus 250 basis points with a 0% Libor floor and it was issued at par. The debt has 101 soft call protection for six months.

Wells Fargo Securities LLC is the left lead on the deal that will be used to reprice an existing term loan B-1 down from Libor plus 275 bps.

In other news, Hostess Brands LLC tightened the original issue discount on its add-on term loan, Applied Systems Inc. modified issue prices on its incremental first- and second-lien term loans, and Generac Power Systems Inc. set the issue price on its term loan B at the tight end of talk.

Also, WIRB-Copernicus Group and Liaison (LI Group Holdings Inc.) accelerated the commitment deadlines for their term loans, and NFP Corp. and Refinitiv joined this week’s primary calendar.

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