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Polyconcept, R1 RCM term loans free to trade; Lightstone reveals extended loan amounts
By Sara Rosenberg
New York, May 12 – Polyconcept firmed the spread on its term loan B (B3/B) at the high end of guidance and raised the floor and then broke for trading on Thursday, and R1 RCM Inc.’s term loan B emerged in the secondary market as well.
Polyconcept set pricing on its $800 million seven-year covenant-lite term loan B (B3/B) at SOFR plus 550 basis points, the high end of the SOFR plus 525 bps to 550 bps talk, and revised the floor to 0.75% from 0.5%, a market source remarked.
As before, the term loan has an original issue discount of 98 and 101 soft call protection for six months.
On Thursday, the term loan freed to trade, with levels quoted at 98 bid, 98¾ offered, another source added.
The company is also getting a $125 million five-year ABL revolver.
In more happenings, Lightstone Holdco LLC finalized sizes for its extended term loan B and extended term loan C.
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