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National Veterinary brings add-on debt to market; Dell, Zekelman bank meeting plans surface
By Sara Rosenberg
New York, May 20 – National Veterinary Associates (NVA Holdings Inc.) approached lenders with add-on first- and second-lien term loans during Friday’s market hours.
National Veterinary Associates hosted a lender call at 11 a.m. ET on Friday to launch $100 million of fungible add-on covenant-light term loans, split between a $70 million add-on first-lien term loan B-1 due Aug. 14, 2021 and a $30 million add-on second-lien term loan due Aug. 14, 2022, a market source said.
Also, Dell Inc. came out with timing on the launch of its multi-billion term loan B, and Zekelman Industries joined the near-term new issue calendar.
Dell plans to hold a bank meeting at 9:30 a.m. ET in New York on Tuesday to launch its $5 billion seven-year term loan B that is being talked with a 0.75% Libor floor and 101 soft call protection for six months, according to a market source.
Spread and original issue discount talk on the term loan B is not yet available, the source said.
Zekelman Industries scheduled a bank meeting for 10 a.m. ET in New York on Monday to launch an $800 million term loan B, a market source remarked.
Goldman Sachs & Co. and J.P. Morgan Securities LLC are leading the deal.
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