Allison Transmission cancels amendment request; LPL firms spread; TaxACT reveals price talk

By Sara Rosenberg

New York, Nov. 19 – In primary happenings on Thursday, Allison Transmission Inc. withdrew the amendment request to its existing term loan B-3 and removed the proposed soft call protection from its add-on term loan B-3 that remained in market.

Although the amendment was withdrawn, Allison Transmission is still seeking a fungible $189 million add-on senior secured covenant-light term loan B-3 due Aug. 23, 2019 talked at Libor plus 250 bps with a 1% Libor floor and an original issue discount of 99.5, a market source said.

Also, LPL Financial Holdings Inc. finalized pricing on its incremental term loan and extension of its existing term loan B at the wide end of guidance.

LPL Financial finalized pricing on its $700 million incremental term loan (Ba3/BB-) due 2022 at Libor plus 400 bps. Pricing on the extension of the company’s existing roughly $1.06 billion term loan B to March 2021 from March 2019 firmed at Libor plus 350 bps.

In addition, TaxACT Holdings Inc. released price talk on its term loan B in connection with its launch, and ViaWest Inc. emerged with new loan plans.

TaxACT launched on Thursday its $425 million credit facility (B1), comprised of a $25 million five-year revolver and a $400 million seven-year first-lien term loan B, according to a market source.

ViaWest surfaced with plans to hold a lender call on Monday to launch a $170 million add-on term loan B, according to a market source.

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