Generation Brands, Albany Molecular update deals; primary activity continues to blossom

By Sara Rosenberg

New York, June 6 – Generation Brands Holdings Inc. on Monday lowered pricing on its $180 million six-year first-lien term loan (B1/B) to Libor plus 500 basis points from Libor plus 550 bps and pushed out the 101 soft call protection to one year from six months, according to a market source.

As before, the first-lien term loan has a 1% Libor floor and an original issue discount of 99.

The company’s $310 million credit facility also includes a $50 million ABL revolver and an $80 million 6.5-year second-lien term loan (Caa1/CCC+).

Pricing on the second-lien term loan was unchanged at Libor plus 1,000 bps with a 1% Libor floor and a discount of 97.

Also on Monday, Albany Molecular Research Inc. firmed the original issue discount on its add-on term loan at the tight end of talk.

Also, AlliedUniversal (USAGM Holdco LLC), RadNet Management Inc., World Kitchen (WKI Holding Co. Inc.), Verso Corp., Petco Animal Supplies Inc., SRS Distribution Inc. and PolyOne Corp. disclosed price talk with launch, and Life Time Fitness Inc. (LTF Merger Sub Inc.) came out with original issue discount guidance on its incremental term loan.

In addition, Vertafore (VF Holding Corp.), NRG Energy Inc., Linden Cogeneration (EFS Cogen Holdings I LLC), Microsemi Corp., Forterra (Stardust Finance Holdings Inc.), Global Healthcare Exchange LLC, US Foods Inc. and Extreme Reach Inc. joined this week’s primary calendar.

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