Ineos Enterprises tables term loan B; Tricor/Vistra U.S. and euro term loan talk surfaces

By Sara Rosenberg

New York, March 20 – In the primary market on Monday, Ineos Enterprises Holdings Ltd. withdrew its U.S. and euro term loan B from syndication due to the recent volatility.

Ineos Enterprises shelved its €820 million equivalent U.S. and euro seven-year senior secured term loan B (BB) since the company was in “no rush to price in a volatile market”, a market source said. The split of U.S. and euro term loan debt was still to be determined.

Talk on the U.S. term loan was SOFR+10 basis points CSA plus 400 bps to 425 bps with a 0% floor and an original issue discount of 98.5, and talk on the euro term loan was Euribor plus 425 bps to 450 bps with a 0% floor and a discount of 98.5. Both term loans were being offered with 101 soft call protection for six months.

Also, Tricor/Vistra (Thevelia (US) LLC) released price talk on its U.S. and euro incremental senior secured first-lien covenant-lite term loan B.

© 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.