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Entain, Heritage Grocers, Ineos Enterprises, Nord Anglia term loans free to trade
By Sara Rosenberg
New York, June 23 – Entain plc increased the size of its U.S. and euro add-on term loans, set amounts on the tranches and tightened the original issue discount on both pieces, and then the debt made its way into the secondary market on Friday.
Entain lifted its total amount of U.S. and euro senior secured covenant-lite term loans (Ba1/BB/BB+) to £500 million equivalent from £400 million equivalent and finalized the split as a fungible $385 million add-on term loan B-2 due October 2029 and a fungible €230 million add-on term loan B due June 2028, from a previous description of to be determined, according to a market source.
Other deals to break for trading during the session included Heritage Grocers Group, Ineos Enterprises Holdings Ltd. and Nord Anglia Education (Fugue Finance LLC).
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