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Aramark, ArcLight NGPL free up; Oldcastle BuildingEnvelope, Confluent Health term loans rise
By Sara Rosenberg
New York, June 13 – Aramark increased the size of its term loan B, reduced the spread and tightened the original issue discount, and ArcLight NGPL Holdings LLC (AL NGPL Holdings LLC) finalized the issue price on its term loan at the tight end of guidance, and then both of these deals broke for trading on Tuesday.
Aramark raised its seven-year term loan B to $1.1 billion from $750 million, trimmed pricing to SOFR plus 250 basis points from talk in the range of SOFR plus 275 bps to 300 bps and adjusted the original issue discount to 99 from 98.5, a market source said.
Also in the secondary market, Oldcastle BuildingEnvelope’s first-lien term loan B headed higher as some buying interest was seen in the name, and the market in general was stronger on the day, and Confluent Health LLC’s term loan B gained ground as well.
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