Four Seasons, SolarWinds term loans free to trade; Focus Financial revised again

By Sara Rosenberg

New York, Nov. 17 – Four Seasons Hotels and Resorts finalized the issue price on its first-lien term loan B at the tight end of revised talk, and SolarWinds Inc. set the spread on its first-lien term loan at the low end of guidance and modified the original issue discount, and then both of these deals broke for trading on Thursday.

Four Seasons Hotels and Resorts set the original issue discount on its $850 million seven-year senior secured first-lien term loan B (Ba3/BB+) at 98.5, the tight end of revised talk of 98 to 98.5 and tighter than initial talk of 97, according to a market source.

The term loan is priced at SOFR+10 basis points CSA plus 325 bps with a 0.5% floor, and has 101 soft call protection for six months.

In other happenings, Focus Financial Partners LLC shifted some fund to its term loan B from its term loan A for a second time and revised the issue price on the term B debt, and Amynta Group approached lenders with an incremental term loan B.

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