MetroNet frees to trade atop OID; Aristrocrat Technologies, Refresco changes surface

By Sara Rosenberg

New York, May 4 – MetroNet firmed the original issue discount on its add-on first-lien term loan B within the guidance range, and the debt made its way into the secondary market on Wednesday.

MetroNet finalized the original issue discount on its fungible $65 million add-on first-lien term loan B (B2/B) due June 2028 at 98.75, within the 98.57 to 99 talk, according to a market source.

Pricing on the add-on term loan is SOFR+CSA plus 375 basis points with a 0.75% floor, in line with the existing term loan, with CSA being 11 bps one-month rate, 26 bps three-month rate and 43 bps six-month rate.

During the session, the add-on term loan B freed to trade, with levels quoted at 98 7/8 bid, 99 3/8 offered, another source added.

In other news, Aristocrat Technologies lowered pricing on its term loan B and tightened the issue price, and Refresco Group BV updated spreads on its U.S. and euro term loans, and margin step-downs and original issue discounts on its U.S., euro and pound loans.

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