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Five Star revises commitment deadline; Syniverse, Montana Renewables disclose price talk
By Sara Rosenberg
New York, April 25 – In the primary market on Monday, Five Star Holding Corp. moved up the commitment deadline for its first-lien term loan.
Five Star accelerated the commitment deadline for its $630 million seven-year first-lien term loan (B2/B) to noon ET on Wednesday from noon ET on Thursday, a market source remarked.
Talk on the first-lien term loan is SOFR plus 450 basis points with 25 bps step-downs at 0.5x and 0.75x inside closing date first-lien net leverage, a 0.5% floor, an original issue discount of 98 to 98.5 and 101 soft call protection for six months.
The company is also getting a $250 million privately placed second-lien term loan (Caa2/CCC+).
Furthermore, Syniverse Holdings LLC and Montana Renewables LLC released price talk with launch, and Gaming Capital Group (GCG Holdings LLC) emerged with plans to bring a new term loan B to market.
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