MKS Instruments allocates; Edgewater Generation, Inmar set bank meetings for week ahead

By Paul A. Harris

Portland, Ore., Jan. 18 – In Friday's leveraged loan market the MKS Instruments Inc. Libor plus 225 basis points seven-year incremental first-lien term loan B (Ba1/BB+) priced at 99 and allocated.

Meanwhile Edgewater Generation and Inmar, Inc. disclosed plans to kick off institutional tranches on Tuesday.

And the dedicated bank loan funds saw $220 million of outflows on Thursday, the most recent session for which data was available at press time, according to a trader.

Edgewater Generation set a lender call for 3 p.m. ET on Tuesday to launch a $100 million incremental covenant-light first-lien term loan due Dec. 13, 2025 (Ba3/BB), according to a market source.

Credit Suisse is the lead arranger.

The 375 bps spread to Libor and the 0% Libor floor are the same as the existing loan, as is the 101 soft call protection until June 10, 2019.

Commitments are due at noon ET on Jan. 25.

Separately, Inmar set a bank meeting for noon ET on Tuesday to kick off its $415 million covenant-light first-lien term loan due May 1, 2024, according to a market source.

Credit Suisse, Jefferies, Wells Fargo and Deutsche Bank are the arrangers.

The spread and issue price remain to be determined.

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