Life Time Fitness, Cushman, Eze Software, WME hit secondary; Vencore, West, Ennis reworked

By Sara Rosenberg

New York, June 8 – Life Time Fitness Inc. (LTF Merger Sub Inc.) changed the original issue discount on its fungible $100 million incremental covenant-light term loan B due June 2022 to 99 from the 98.625 area, a market source said on Wednesday.

As before, pricing on the incremental loan is Libor plus 325 basis points with a 1% Libor floor, in line with existing term loan pricing.

Commitments were due at noon ET on Wednesday, and then the debt freed up for trading with levels seen at 99 1/8 bid, 99 5/8 offered, a trader added.

Cushman & Wakefield (DTZ) increased the size of its add-on term loan and finalized the issue price in the middle of guidance before breaking for trading on Wednesday, and deals from Eze Software Group and WME IMG LLC also freed up.

In more happenings, Vencore Inc. upsized its first-lien term loan and modified the issue price, downsized its second-lien term loan and accelerated the commitment deadline on the debt, West Corp. adjusted its term loan B-12 and term loan A-2 sizes, added a term loan B-14 to its transaction and trimmed the spread on its B-12 loan, and Ennis-Flint tightened the spread and original issue discount on its term loan B.

Also, Vertafore (VF Holding Corp.), Linden Cogeneration (EFS Cogen Holdings I LLC), ExamWorks Group Inc. and Prime Security Services Borrower LLC (ADT) came out with price talk with launch.

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