Allspring Global accelerates term loan deadline; Flow Control Group releases price talk

By Sara Rosenberg

New York, May 24 – In the primary market on Tuesday, Allspring Global Investments (Allspring Buyer LLC) moved up the commitment deadline for its incremental term loan B.

Allspring Global Investments accelerated the commitment deadline for its non-fungible $250 million incremental senior secured covenant-lite term loan B due Nov 1, 2028 (BB-) to noon ET on Wednesday from 5 p.m. ET on Wednesday, a market source said.

Talk on the term loan is SOFR plus 400 basis points with 25 bps step-downs at 3.75x first-lien net leverage and upon the consummation of a qualified initial public offering, a 0.5% floor, an original issue discount of 96 to 97 and 101 soft call protection for six months.

Additionally, Flow Control Group (FCG Acquisitions Inc.) disclosed price talk on its incremental first-lien term loan in connection with its lender call.

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