Smart Start, Conservice deal changes surface; LogMeIn accelerates commitment deadline

By Sara Rosenberg

New York, Aug. 12 – In the primary market on Wednesday, Smart Start Inc. lowered the spread on its term loan B and revised the original issue discount, Conservice Midco LLC increased the size of its incremental first-lien term loan and tightened the issue price, and LogMeIn Inc. moved up the commitment deadline for its first-lien term loan B.

Smart Start trimmed pricing on its $350 million term loan B (B2/B) to Libor plus 500 bps from talk in the range of Libor plus 525 bps to 550 bps and changed the original issue discount to 98.5 from talk in the range of 97 to 98, according to a market source.

Conservice raised its fungible incremental covenant-lite first-lien term loan due May 2027 to $75 million from $50 million and modified the original issue discount to 98 from talk in the range of 97 to 97.5, a market source said.

LogMeIn accelerated the commitment deadline for its $1.95 billion seven-year first-lien term loan B (B1/B-/BB-) to 5 p.m. ET on Thursday from noon ET on Friday, a market source remarked.

Also, UPC/Sunrise launched U.S. and euro term loans to investors, AmeriLife Holdings LLC released original issue discount talk on its incremental term loan, and PetVet Care Centers LLC came to market with an incremental term loan B-3.

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