| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers I > Headlines for Invenergy Thermal Operating I LLC > News item |
Veeam Software frees to trade; Kissner Group, Invenergy, Micro Focus price talk emerges
By Sara Rosenberg
New York, Feb. 19 – Veeam Software tightened the issue price on its term loan B for a second time as the book was 3.5 times oversubscribed, and the debt made its way into the secondary market on Wednesday to trade above par.
The company changed the issue price on the $1.25 billion seven-year term loan B (B1/B-) to par from revised talk of 99.75 and initial talk of 99.5, a market source remarked.
As before, pricing on the term loan is Libor plus 325 basis points with a 25 bps step-down at 0.5x inside closing net first-lien leverage and a 0% Libor floor, and the debt has 101 soft call protection for six months.
Previously in syndication, the spread on the term loan was lowered from Libor plus 375 bps.
On Wednesday afternoon, the term loan B broke for trading and was quoted at par ¼ bid, par ¾ offered, a trader added.
In more happenings, Kissner Group Holdings LP (SCIH Salt Holdings Inc.) and Invenergy Thermal Operating I LLC released price talk with launch, and Micro Focus International plc, Bausch Health Americas Inc., Tosca Services LLC, Minimax Viking and Hornblower Holdings joined this week’s primary calendar.
© 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.