BrightSpring, Brooks free up; Millennium, ISS, Orchid, Mirion, Avison reveal price talk

By Sara Rosenberg

New York, Feb. 12 – BrightSpring Health Services (Phoenix Guarantor Inc.) added a delayed-draw term loan to its capital structure and finalized the spread on its first-lien term loan B at the low end of talk, and Brooks Automation Inc. firmed pricing on its term loan B at the wide side of guidance and tightened the issue price, and then both of these deals broke for trading on Tuesday.

BrightSpring added a $150 million delayed-draw covenant-light term loan and finalized the spread on its $1.65 billion seven-year covenant-light term loan B at Libor plus 450 bps.

By late day, the strip of term loan B and delayed-draw term loan debt were quoted at 99 bid, 99½ offered, a trader said.

Brooks Automation set the spread on its $349,125,000 million senior secured covenant-light term loan B due Oct. 4, 2024 at Libor plus 300 bps, the high end of the Libor plus 275 bps to 300 bps talk, and changed the original issue discount to 99 from talk in the range of 98 to 98.5, a market source remarked.

The loan had levels quoted at 99½ bid, 100¼ offered, a trader added.

In more happenings, Millennium Trust Co. (Minotaur Acquisition Inc.), Institutional Shareholder Services Inc. (ISS), Orchid Orthopedic Solutions, Mirion Technologies Inc. and Avison Young Inc. released price talk with launch.

© 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.