Foundation, Pretium, Navitas, Rackspace, Parexel break; ION, Idera, Kloeckner updated

By Sara Rosenberg

New York, Feb. 3 – Foundation Building Materials Inc. upsized the delayed-draw portion of its first-lien term loan, reduced the spread, added a step-down and tightened the original issue discount, and Pretium Packaging (Pretium Pkg Holdings Inc.) increased the size of its incremental first-lien term loan, and then these deals freed to trade on Wednesday.

Also, Navitas Midstream Midland Basin LLC upsized its incremental term loan B before breaking for trading, and deals from Rackspace Technology Global Inc. and Parexel International Corp. hit the secondary market as well.

In more happenings, ION Analytics moved some funds between its U.S. and euro term loans, cut pricing on the debt, added a step-down, tightened the issue price on the U.S. tranche and modified original issue discount guidance on the euro tranche.

Furthermore, Idera Inc. finalized the spread on its first-lien term loan debt at the low end of guidance, trimmed pricing on its second-lien term loan and revised original issue discounts, and Kloeckner Pentaplast set its U.S. term loan size and pricing.

Additionally, Advisor Group Holdings Inc. firmed pricing on its first-lien term loan at the wide end of talk, LogMeIn Inc. upsized its incremental first-lien term loan B and finalized the issue price at the midpoint of talk, and Rent-A-Center Inc. increased the size of its term loan B.

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