Genesee & Wyoming updated; eResearch, Terrapure, Polyconcept guidance surfaces

By Sara Rosenberg

New York, Nov. 5 – Genesee & Wyoming Inc. on Tuesday lowered the spread on its first-lien term loan and allocations are expected to go out on Wednesday.

Specifically, Genesee trimmed pricing on its $2.55 billion seven-year covenant-lite first-lien term loan to Libor plus 200 basis points from talk in the range of Libor plus 250 bps to 275 bps.

eResearchTechnology Inc. held its bank meeting Tuesday and announced talk on its $1.155 billion seven-year first-lien term loan B at Libor plus 425 bps to 450 bps with a 0% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

Terrapure Environmental (Terra Bidco B.C. Ltd.) came out with talk of Libor plus 500 bps with a 0% Libor floor, an original issue discount of 99 and 101 soft call protection for six months on its C$580 million U.S. dollar equivalent seven-year first-lien term loan.

Polyconcept launched its fungible $183 million incremental first-lien term loan due August 2023 at talk of Libor plus 425 bps to 450 bps with a 1% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

Also, Outfront Media Inc., Univar Inc., DRW Holdings LLC and EPIC Y-Grade Services LP joined the near-term primary calendar.

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