ADT, UFC free up; B&G revised; ION, Cineworld, Excel, MKS, ECi, QualTek join calendar

By Sara Rosenberg

New York, Sept. 13 – ADT Inc. (Prime Security Services Borrower LLC) firmed the size of its term loan B within the range of talk, set the spread at the high end of guidance and revised the Libor floor before breaking for trading on Friday, and UFC’s add-on term loan B surfaced in the secondary too.

Specifically, ADT set its seven-year senior secured term loan B (Ba3/BB-) at $3.11 billion from talk in the range of $3.025 billion to $3.275 billion, firmed pricing at Libor plus 325 basis points, the wide end of the Libor plus 300 bps to 325 bps talk, and changed the Libor floor to 1% from 0%.

UFC’s fungible $465 million add-on first-lien term loan B (B2/B) due April 2026 began trading with levels quoted at par 1/8 bid, par ½ offered.

In more happenings, B&G Foods Inc. firmed the spread on its $450 million seven-year covenant-lite term loan B (Ba2/BB) at Libor plus 250 bps, the tight end of the Libor plus 250 bps to 275 bps talk, and adjusted the original issue discount to 99.5 from 99.

Also, ION Corporates, Cineworld Group plc, Excel Fitness Holdings Inc., MKS Instruments Inc., ECi Software Solutions and QualTek USA LLC emerged with new loan plans.

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