Quest Software, Golden Nugget, Cano Health, Hudson River Trading disclose price talk

By Sara Rosenberg

New York, Jan. 5 – On the new-issue front on Wednesday, Quest Software, Golden Nugget LLC, Cano Health LLC and Hudson River Trading LLC all released price talk in connection with their lender calls.

Additionally, SRS Distribution Inc., RV Retailer, TricorBraun Holdings Inc. and Vaco Holdings LLC joined this week’s primary calendar.

Quest Software held its lender call on Wednesday morning and announced price talk on its $2.71 billion seven-year first-lien term loan B (B2/B-) and $865 million eight-year second-lien term loan (Caa2/CCC+), according to a market source.

Talk on the first-lien term loan is SOFR plus 400 basis points to 425 bps with a 25 bps step-down at 0.5x inside closing date first-lien leverage and a 25 bps step-down upon an initial public offering, a 0.5% floor and an original issue discount of 99 to 99.5, and talk on the second-lien term loan is SOFR plus 725 bps to 750 bps with a 0.5% floor and a discount of 98.5 to 99, the source said.

The first-lien term loan has 101 soft call protection for six months, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

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