Smart Foodservice breaks; Victory Capital, Blackstone CQP, United Planet changes surface

By Sara Rosenberg

New York, June 6 – Smart Foodservice (Sage Borrowco LLC) increased the size of its term loan B, firmed the spread at the low end of guidance and made a number of documentation changes, and then the debt freed up for trading on Thursday.

Smart Foodservice raised its seven-year covenant-lite term loan B to $425 million from $405 million and finalized pricing at Libor plus 475 basis points.

Recommitments for Smart Foodservice’s term loan were due at 1 p.m. ET on Thursday and, late in the afternoon, the debt emerged in the secondary market with levels quoted at 99½ bid, par offered before moving up to 99¾ bid, 100¼ offered, a trader said.

In more happenings, Victory Capital Holdings Inc. reduced the size of its term loan B and lowered pricing, and Blackstone CQP Holdco LP upsized its term loan B and modified the original issue discount.

Also, United Planet Fitness Partners (United PF Holdings LLC) shifted some funds between its funded and delayed-draw first-lien term loans and updated pricing and call premiums on its first- and second-lien debt, and Imperial Dade (BCPE Empire Holdings Inc.) moved up the commitment deadline for its first-lien term loan.

Furthermore, Vast Broadband announced price talk with launch, and Justrite Safety Group, Vitech Systems Group and RCN (Radiate Holdco LLC) emerged with new deal plans.

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