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Peraton frees to trade; Belfor revises add-on loan; Nestle Skin Health price talk surfaces
By Sara Rosenberg
New York, July 1 – Peraton Corp. finalized the original issue discount on its fungible $40 million add-on term loan at 99.25, and then the debt made its way into the secondary market on Monday.
The original issue discount came at the tight end of the 99 to 99.25 talk, according to a market source.
The add-on term loan is priced at Libor plus 525 basis points with a 1% Libor floor.
After terms firmed up, the add-on loan freed to trade and levels were quoted at 99¼ bid, 99¾ offered, the source said.
Macquarie Capital (USA) Inc. is leading the deal that will be used for mergers and acquisitions.
Peraton is a Herndon, Va.-based provider of satellite and terrestrial communications.
In other happenings, Belfor Holdings Inc. modified the issue price on its add-on term loan B to par from 99.75 and accelerated the commitment deadline to 5 p.m. ET on Monday from noon ET on Tuesday.
The add-on term loan is priced at Libor plus 400 bps with a 0% Libor floor.
Also, Nestle Skin Health disclosed price talk on its U.S. and euro equivalent term loans, and Mannington Mills joined the near-term primary calendar.
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