Upstream, Ontic, Garda break; Monotype revised; Cole-Parmer, Ellie Mae, GoodRx accelerated

By Sara Rosenberg

New York, Oct. 24 – Upstream Rehabilitation’s credit facilities freed up for trading on Thursday, with the first- and second-lien term loan debt quoted above their original issue discounts, and Ontic (Bleriot US Bidco Inc.) and Garda World Security Corp. broke as well.

Specifically, Upstream’s $555 million seven-year covenant-lite first-lien term loan quoted at par bid, par ½ offered and the $140 million eight-year covenant-lite second-lien term loan quoted at par bid, 101 offered.

Ontic’s credit facilities freed to trade with the strip of $480 million seven-year covenant-lite first-lien term loan B (B2/B-) and $75 million covenant-lite delayed-draw first-lien term loan B debt quoted at 99½ bid, par ¼ offered, and the $175 million eight-year covenant-lite second-lien term loan quoted at 98½ bid, 99½ offered.

Garda World’s $1,438,000,000 seven-year term loan B emerged in the secondary market with levels seen at 98¼ bid, 98¾ offered.

Moving to the primary market, Monotype Imaging Holdings Inc. once again widened the original issue discount on its first-lien term loan, and Cole-Parmer Instrument Co. (Curie Merger Sub LLC), Ellie Mae Inc. and GoodRx accelerated the commitment deadlines for their first-lien term loans.

Furthermore, Genesee & Wyoming Inc. and National Seating & Mobility Inc. disclosed price talk on their proposed loan transactions with launch.

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