TransDigm, Entain term loans free to trade; Travel + Leisure, American Axle ready deals

By Sara Rosenberg

New York, Dec. 2 – TransDigm Inc. lowered pricing on its first-lien term loan H and finalized the issue price at the tight side of talk, and Entain plc modified the original issue discount on its U.S. add-on term loan B and set the discount on its euro term loan B at the tight end of revised guidance, and then both of these deals broke for trading on Friday.

TransDigm trimmed the spread on its $1.725 billion amended and extended first-lien term loan H due February 2027 to SOFR plus 325 basis points from SOFR plus 350 bps and firmed the original issue discount at 98, the tight end of the 97.5 to 98 talk, according to a market source.

The term loan still has 0 bps CSA, a 0% floor and 101 soft call protection for one year.

Recommitments were due at 12:30 p.m. ET on Friday and the debt began trading late in the day, with levels quoted at 98½ bid, 99¼ offered, another source added.

In more happenings, Travel + Leisure Co. and American Axle & Manufacturing Inc. joined the near-term primary calendar with debt refinancing transactions.

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