Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Z > Headlines for Zest Holdings LLC > News item |
Goodpack, United Site, Guggenheim, St. George’s, Zest break; Orion, Element updated
By Sara Rosenberg
New York, Aug. 5 – Goodpack Ltd. (IBC Capital) moved some funds between its first- and second-lien term loans, updated pricing and discounts and then freed up for trading on Tuesday, and United Site Services Inc. (USS Parent Holding Corp.), Guggenheim Partners Investment Management Holdings LLC, St. George’s University and Zest Holdings LLC hit the secondary too.
In more happenings, Orion Engineered Carbons SA widened talk on its term loans, Element Materials Technology set the spread and offer price on its term loan at the low end of talk, Terex Corp. moved up the commitment deadline on its credit facility and Datapipe Inc. emerged with new deal plans.
Goodpack lifted its seven-year first-lien covenant-light term loan to $550 million from $520 million, set the spread at Libor plus 375 basis points, the low end of the Libor plus 375 bps to 400 bps talk, and moved the original issue discount to 99¼ from 99, according to market sources.
In addition, the eight-year second-lien covenant-light term loan was trimmed to $170 million from $200 million, pricing was reduced to Libor plus 700 bps from talk of Libor plus 725 bps to 750 bps and the discount was modified to 99¼ from 99, sources said.
The term loans have a ticking fee of half the spread for 30 days from Sept. 12 and the full spread thereafter, but, the expected closing date is Sept. 8, sources continued.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.