GPS term loan frees to trade atop OID; Tecta America, Safe Fleet deal revisions surface

By Sara Rosenberg

New York, Nov. 27 – GPS Hospitality saw its credit facilities hit the secondary market on Tuesday, with the term loan B quoted above its original issue discount.

Meanwhile, in the primary market, Tecta America Corp. sweetened the spread, original issue discount and call protection on its first-lien term loan and eliminated the second-lien term loan from its proposed capital structure.

Furthermore, Safe Fleet Holdings LLC widened the spread and issue price on its term loan, added call protection and reworked the debt to be a stand-alone piece instead of a fungible add-on tranche, and Sorenson Holdings LLC pulled its term loan from market.

Also, Plaskolite LLC, Knowlton Development Corp., FR BR Holdings, Elo Touch Solutions and Apollo Infrastructure Equity Portfolio released price talk with launch, and Latham Pool Products Inc. and Priority Payment Systems are getting ready to bring new deals to market.

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