Trac, Power Stop break; MJH Life Sciences changes emerge; RelaDyne accelerates deadline

By Sara Rosenberg

New York, Jan. 24 – Trac (Stonepeak Tarus Lower Holdings LLC) finalized the original issue discount on its second-lien term loan at the tight end of guidance and Power Stop LLC removed one of two leverage-based step-downs from its first-lien term loan, and then both of these deals freed to trade on Monday.

In other news, MJH Life Sciences trimmed price talk on its term loan B, updated original issue discount guidance and made some changes to documentation, and RelaDyne Inc. moved up the commitment deadline for its first-lien term loan.

Furthermore, McAfee Corp. came out with price talk on its U.S. and euro term loans in connection with its lender call, and White Cap Supply Holdings LLC, Tricor Group (Thevelia (US) LLC), Ankura Consulting Group LLC, Conterra Ultra Broadband and WHP Global joined this week’s primary calendar.

Trac set the original issue discount on its $350 million eight-year second-lien term loan (Caa1/B+) at 98.5, the tight end of the 98 to 98.5 talk, according to a market source.

As before, the term loan is priced at SOFR+CSA of 10 basis points plus 700 bps with a 0.5% floor, and has call protection of 102 in year one and 101 in year two.

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