TMF, Garrett, ImageFirst, BroadStreet break; Signature, Titan, Signant changes emerge

By Sara Rosenberg

New York, April 27 – TMF Group (TMF Sapphire Bidco BV) firmed the original issue discount on its U.S. term loan B at the tight end of guidance, and upsized its euro term loan B while also revising the spread and the issue price, and Garrett Motion Inc. widened the spread and issue price on its term loan B, sweetened the call protection and shortened the maturity, and then both of these deals freed to trade on Thursday.

ImageFirst Holdings LLC added a delayed-draw term loan to its capital structure and modified the issue price on its funded incremental term loan before breaking for trading, and loans from BroadStreet Partners Inc. and GMS Inc. (GYP Holdings III Corp.) made their way into the secondary market.

Hertz Corp.’s strip of term loan B and term loan C debt was a little stronger in trading as the company announced first quarter numbers that revealed better-than-expected revenue and net income numbers.

Signature Aviation plc tightened the original issue discount on its add-on term loan B-2 after accelerating the commitment deadline, and Titan Acquisition Holdings upsized its first-lien term loan B, trimmed the spread, added a leverage-based step-down and changed the issue price.

Signant Health (Bracket Intermediate Holding Corp.) increased the size of its funded first-lien term loan and canceled plans for a delayed-draw first-lien term loan.

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