Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Asplundh Tree Expert LLC > News item |
GoDaddy, Emerald Performance loans free to trade; Asplundh Tree Expert readies deal
By Sara Rosenberg
New York, Aug. 7 – GoDaddy Inc. accelerated the commitment deadline for its $750 million seven-year covenant-lite first-lien term loan B (Ba1/BB) to 1 p.m. ET on Friday from noon ET on Monday and, after the new deadline passed, the original issue discount was modified to 99.5 from talk in the range of 98.5 to 99, a market source remarked.
As before, pricing on the term loan is Libor plus 250 basis points with a 0% Libor floor and the debt has 101 soft call protection for six months.
Recommitments were due at 3 p.m. ET on Friday and the term loan freed to trade late in the day, with levels quoted at 99¾ bid, par ¼ offered, a trader added.
Emerald Performance Materials LLC’s $450 million five-year covenant-lite first-lien term loan also began trading on Friday, with levels quoted at 99½ bid, par offered, according to a market source.
Pricing on the term loan is Libor plus 400 bps with a 1% Libor floor and it was sold at an original issue discount of 99. The debt has 101 soft call protection for six months.
And, more happenings, Asplundh Tree Expert LLC joined the near-term new issue loan calendar.
© 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.