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Duff & Phelps incremental term loan wraps par; New Fortress Energy discloses price talk
By Sara Rosenberg
New York, Feb. 19 – Duff & Phelps’ (Deerfield Dakota Holding LLC) incremental first-lien term loan was seen trading wrapped around par on Tuesday, which is above the debt’s original issue discount that finalized tighter than talk due to demand.
Duff & Phelps’ non-fungible $280 million incremental first-lien term loan (B3/B) due Feb. 13, 2025 was quoted at 99¾ bid, 100¼ offered on Tuesday, according to a market source.
The debt broke late Friday but was not quoted, the source added.
Meanwhile, in the primary market, New Fortress Energy (NFE Atlantic Holdings LLC) released price talk on its term loan B with launch, and Tivity Health Inc. joined this week’s new issue calendar.
New Fortress Energy announced talk of Libor plus 500 bps with a step-down to Libor plus 450 bps upon a Ba3 corporate rating, a 0% Libor floor and an original issue discount of 98 on its $750 million seven-year senior secured term loan B (B2), a market source remarked.
Commitments are due on March 1, the source added.
Tivity Health set a bank meeting for 10 a.m. ET in New York on Wednesday to launch $1,305,000,000 of credit facilities split between a $125 million revolver, a $400 million five-year first-lien term loan A and a $780 million seven-year first-lien term loan B, according to a market source.
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