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Segra breaks for trading; Chefs’ Warehouse, Douglas Dynamics ready loan transactions
By Sara Rosenberg
New York, May 27 – Segra (MTN Infrastructure TopCo Inc.) set the original issue discount on its term loan at the tight end of guidance and then freed to trade on Wednesday afternoon.
Specifically, Segra firmed the original issue discount on its $275 million term loan (B) at 96, the tight end of revised talk of 95.5 to 96 and tighter than initial talk in the range of 94 to 95, according to a market source.
As before, pricing on the term loan is Libor plus 400 basis points with a 1% Libor floor and the debt has 101 soft call protection for six months.
The term loan made its way into the secondary market in the afternoon, with levels quoted at 96½ bid, 97¼ offered on the break, another source remarked. Shortly thereafter, the loan traded up to 96¾ bid, 97¾ offered.
In more happenings, Chefs’ Warehouse Inc. and Douglas Dynamics Inc. joined this week’s loan calendar.
Chefs’ Warehouse set a lender call for 10 a.m. ET on Thursday to launch a three-year extension of its first-lien term loan to June 22, 2025 from June 22, 2022, a market source said.
Douglas Dynamics will hold a lender call on Thursday to launch a $250 million term loan (B2).
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