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STG Logistics revises incremental term loan issue price; Hemisphere Media reveals talk
By Sara Rosenberg
New York, July 28 – In the primary market on Thursday, STG Logistics modified the original issue discount on its fungible $45 million incremental first-lien term loan to 96.75 from 96.5, a market source remarked.
Like the existing term loan, the incremental term loan is priced at SOFR+CSA plus 600 basis points with a 0.75% floor and has 101 soft call protection that expires in March 2023. CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.
Also, Hemisphere Media Holdings LLC held its lender call in the afternoon and announced price talk on its $370 million seven-year covenant-lite term loan B (B2/B) at SOFR plus 575 bps to 600 bps with a 0.5% floor and an original issue discount of 90 to 91, according to a market source.
The term loan has 101 soft call protection for one year.
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