Dollar Tree, Citgo Holding, Acadia, US Farathane, Orica Chemicals changes emerge

By Sara Rosenberg

New York, Feb. 5 – In the primary market on Thursday, Dollar Tree Inc. reduced the size of its term loan B as its term loan A and bond offering were upsized, and the term loan B also underwent some modifications to pricing, offer price and call protection.

Also, Citgo Holding Inc. increased pricing on its term loan B while widening the original issue discount, Acadia Healthcare Co. Inc. tightened the spread and offer price on its term loan B, and US Farathane Corp. firmed pricing on its term loan at the wide end of guidance, modified the original issue discount and sweetened the call protection.

In addition, Orica Chemicals (Chemstralia Pty Ltd.) upsized its term loan, lifted pricing, revised the discount and extended the call protection, and DBRS and BATS Global Markets released talk on their new deals with launch.

Dollar Tree trimmed its seven-year term loan B on Thursday to $3.95 billion from $5.2 billion, reverse flexed pricing to Libor plus 350 basis points from talk at launch of Libor plus 375 bps to 400 bps, tightened the original issue discount to 99½ from 99, and extended the 101 soft call protection to one year from six months, according to a market source.

The term loan B still has a 0.75% Libor floor.

Another change made was that the five-year term loan A was lifted to $1 billion from $500 million, while pricing on the tranche remained at Libor plus 225 bps, the source said.

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