Formula 1, SS&C Technologies, Aristocrat Leisure break; TransDigm dips with amendment

By Sara Rosenberg

New York, Feb. 24 – Deals from Formula One (Delta Topco Ltd.), SS&C Technologies Inc. and Aristocrat Leisure Ltd. freed up for trading on Friday, and TransDigm Group Inc.’s term loans were a little lower after details surfaced on an amendment request.

Moving to the primary market, Salient CRGT Inc. raised pricing on its term loan, widened the original issue discount and sweetened the call protection, and Ranpak Corp. increased the spread on its add-on first-lien term loan, tightened issue price talk and eliminated plans for a repricing of its existing first-lien term debt.

In addition, VIP Cinema tightened the original issue discount on its first-lien term loan and added a pricing step-down, and Gavilan Resources LLC modified size, spread and issue price on its second-lien term loan.

Also, SRAM LLC approached lenders with a new term loan B, and Cole-Parmer Instrument Co. came out with timing on the launch of its credit facility.

SRAM hosted a lender call on Friday to launch a $570 million term loan B (B2/B) due 2024 talked at Libor plus 350 bps with a 1% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months, a source said.

Cole-Parmer Instrument set a bank meeting for 10:30 a.m. ET on Wednesday, according to a market source.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.