Associated Materials breaks for trading; Restaurant Technologies, Renaissance set talk

By Sara Rosenberg

New York, March 9 – Associated Materials (New AMI I LLC) finalized the spread on its term loan B at the high end of guidance and widened the original issue discount before freeing up for trading on Wednesday.

Associated Materials firmed pricing on the $550 million seven-year term loan B (B2/B) at SOFR plus 600 basis points, the high end of the SOFR plus 575 bps to 600 bps talk, and changed the original issue discount to 96 from 98.5, a market source remarked.

As before, the term loan has a 0.5% floor and 101 soft call protection for six months.

The term loan B broke for trading later in the day, with levels quoted at 96 bid, 97 offered, a trader added.

In more happenings, Restaurant Technologies Inc. and Renaissance Learning Inc. released price talk on their loan transactions with launch.

Additionally, Forefront Dermatology (Dermatology Intermediate Holdings III Inc.) and Owens & Minor Inc. joined this week’s new issue calendar.

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