Optiv first-lien term loan frees to trade above OID; TMF Group price talk surfaces

By Sara Rosenberg

New York, April 18 – Optiv Parent Inc. reduced the size of its first-lien term loan and finalized the spread at the wide end of guidance, and increased the size of its second-lien PIK toggle facility, before freeing up for trading on Tuesday.

Optiv trimmed its first-lien term loan (B3/B-) due August 2026 to $650 million from $725 million and set pricing at SOFR plus 525 basis points, the high end of the SOFR plus 500 bps to 525 bps talk, according to a market source.

With the term loan downsizing, the company lifted its privately placed second-lien PIK toggle facility to $260 million from $185 million, the source said.

In more happenings, TMF Group (TMF Sapphire Bidco BV) disclosed price talk on its U.S. and euro term loans in connection with its lender call, and Titan Acquisition Holdings joined this week’s primary calendar with a leveraged buyout financing transaction.

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