Entain term loan on deck; Twitter buyout may be back on track; secondary gains continue

By Sara Rosenberg

New York, Oct. 4 – In the primary market on Tuesday, Entain Holdings (GVC Finance LLC) emerged with plans to approach investors with a new term loan B this week.

Entain Holdings set a lender call for 10 a.m. ET on Thursday to launch a $750 million seven-year covenant-lite term loan B (Ba1/BB/BB+), according to a market source.

The term loan has 101 soft call protection for one year.

Meanwhile, in other news, an entity wholly owned by Elon Musk disclosed that it intends to complete its acquisition of Twitter Inc., reversing prior plans to try and cancel the acquisition agreement through court proceedings.

Also, the secondary market as a whole was better, possibly on continued increased activity from CLOs following quarter end amortization payments.

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