Avantor breaks; Landry’s, Versum Materials, LANDesk, SIG Combibloc, Windstream update deals

By Sara Rosenberg

New York, Sept. 19 – Avantor Performance Materials saw its credit facility make its way into the secondary market on Monday, with the strip of incremental and delayed-draw term loan debt quoted above their original issue discount.

Avantor Performance Materials’ $665 million incremental first-lien term loan due 2022 and $170 million delayed-draw first-lien term loan due 2022 were quoted at par bid, 100˝ offered, according to a market source.

Moving to the primary market, Landry’s Inc. modified the original issue discount on its term loan, Versum Materials LLC trimmed the spread on its term loan B, and LANDesk Software shifted some funds to its first-lien term loan from its second-lien term loan.

Also, SIG Combibloc (Onex Wizard US Acquisition Inc./SIG Combibloc Purchase Co. Sarl) extended the call protection on its term loans, and Windstream Services LLC increased the size of its term loan B-6 while tightening the spread and issue price.

Furthermore, OrthoLite, Nielsen Finance LLC, Multi Packaging Solutions International Ltd. and Misys released price talk with launch.

Additionally, Focus Brands Inc., ON Semiconductor Corp., Vertiv (Cortes NP Acquisition Corp.), Mohegan Tribal Gaming Authority, Fort Dearborn Co. (Fortress Merger Sub Inc.), Jo-Ann Stores Inc., Confie Seguros Holdings II Co. and Vivid Seats LLC joined this week’s new issue calendar.

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