MKS Instruments, Precyse, Micron set deal revisions; PQ, Russell, SiteOne, AmWINS launch

By Sara Rosenberg

New York, April 14 – In the primary market on Thursday, MKS Instruments Inc. reduced the size of its term loan B, lowered pricing and revised the issue price, and Precyse Acquisition Corp. tightened the spread and original issue discount on its first-lien term loan while also extending the call protection.

Also, Micron Technology Inc. increased the size of its term loan B and accelerated the commitment deadline, and PQ Corp. released details on its new loan financing in connection with its New York bank meeting.

Additionally, Russell Investments and SiteOne Landscape Supply disclosed price talk on their term loans, AmWINS Group Inc. came to market with an add-on transaction, and NBTY Inc. emerged with new deal plans.

Russell Investments came out with talk of Libor plus 450 bps to 475 bps with a 1% Libor floor, an original issue discount of 98.5 and 101 soft call protection for six months on its $650 million seven-year covenant-light term loan B, a source remarked.

SiteOne Landscape Supply held its bank meeting in the afternoon, launching its $250 million six-year first-lien term loan with talk of Libor plus 600 bps with a 1% Libor floor, an original issue discount of 98 and 101 soft call protection for six months, according to a market source.

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