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iHeartCommunications sets discount; Huntsworth reveals talk; First Brand deadline emerges
By Sara Rosenberg
New York, July 15 – In the primary market on Wednesday, iHeartCommunications Inc. firmed the original issue discount on its term loan at the middle of guidance, and Huntsworth plc released price talk on its first-lien term loan with launch.
iHeartCommunications finalized the original issue discount on its $450 million senior secured term loan due 2026 (B1/B+) at 95.5, the middle of the 95 to 96 talk, according to a market source.
As before, the term loan is priced at Libor plus 400 basis points with a 0.75% Libor floor and has 101 soft call protection for one year.
Huntsworth held its lender call and announced talk on its $300 million seven-year first-lien term loan B (B2) at Libor plus 525 bps with a 0.5% Libor floor, an original issue discount of 96 and 101 soft call protection for six months, a market source remarked.
Furthermore, First Brands Group LLC announced the commitment deadline for its incremental first-lien term loan, and Tosca Services LLC joined this week’s new issue loan calendar.
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