SPX Flow, Imprivata, Belfor price talk surfaces; Restaurant Technologies readies deal

By Sara Rosenberg

New York, March 8 – In the primary market on Tuesday, SPX Flow Inc., Imprivata and Belfor Holdings Inc. disclosed price talk with launch, and Restaurant Technologies Inc. joined this week’s new issue calendar.

SPX Flow announced talk on its $1.54 billion seven-year covenant-lite first-lien term loan B at SOFR plus 450 bps with a 0.5% floor, an original issue discount of 98 to 98.5 and 101 soft call protection for six months, according to a market source. The company’s $1.74 billion of senior secured credit facilities (B2/B-) also include a $200 million five-year revolver.

Imprivata came out with talk of SOFR plus 400 bps with a 0.5% floor, an original issue discount of 98.5 and 101 soft call protection for six months on its non-fungible $383 million incremental first-lien term loan B (//BB-) due December 2027 that launched with a call in the morning, a market source said.

Belfor launched its fungible $250 million add-on first-lien term loan B due April 2026 with original issue discount talk of 99.026. Pricing is Libor plus 400 bps with a 25 bps step-down at 3.5x total net leverage and a 0% Libor floor.

Restaurant Technologies set a lender call for 10:30 a.m. ET on Wednesday to launch its $910 million of senior secured credit facilities, which consist of a $100 million revolver and an $810 million green first-lien term loan B.

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