BJ’s Wholesale, PowerSchool loans break for trading; iSolved changes surface

By Sara Rosenberg

New York, Oct. 4 – BJ’s Wholesale Club Inc. firmed the spread on its term loan B at the low end of guidance before freeing up for trading on Wednesday.

BJ’s set pricing on the $400 million covenant-lite term loan B (Ba2/BBB-) due February 2029 at SOFR plus 200 basis points, the low end of the SOFR plus 200 bps to 225 bps talk, according to a market source.

The term loan still has a 0% floor, a par issue price and 101 soft call protection for six months.

PowerSchool Holdings Inc.’s (Severin Acquisition LLC) first-lien term loan broke as well.

Meanwhile, in more happenings, iSolved increased the size of its first-lien term loan and lowered the spread, while leaving the floor and original issue discount unchanged.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.