Applied Systems, Focus Financial, Parkway Generation term loans free to trade

By Sara Rosenberg

New York, Nov. 18 – Applied Systems Inc. added a new money first-lien term loan to its amendment and extension transaction, finalized sizes on the extended first-and second-lien term loans and reduced pricing on the extended second-lien tranche before freeing up for trading on Friday.

Applied Systems added to its amendment and extension proposal a new money covenant-lite first-lien term loan due September 2026 to its transaction, that was talked with a size of $190 million in the morning and was increased to $215 million in the afternoon, a market source remarked.

The new money loan will repay $174.1 million of non-extended first lien term loan borrowings and $40.9 million of non-extended second-lien term loan borrowings.

Other deals to make their way into the secondary market during the session included Focus Financial Partners LLC and Parkway Generation LLC.

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