Starwood Property, Ineos Group free to trade; AerCap softens with market heaviness

By Sara Rosenberg

New York, Nov. 3 – Starwood Property Mortgage LLC increased the size of its term loan B and lowered the spread before breaking for trading during Thursday’s session, and Ineos Group Holdings’ U.S. term loan B freed up as well.

Starwood Property raised its five-year first-lien senior secured sustainability term loan B to $600 million from $400 million and trimmed pricing to SOFR plus 325 basis points from talk in the range of SOFR plus 350 bps to 375 bps, a market source remarked.

As before, the term loan has 0 bps CSA, a 0.5% floor, an original issue discount of 97 and 101 soft call protection for six months.

In addition, AerCap Holdings NV’s term loan was a little softer in the secondary market despite the release of favorable third quarter numbers as the market in general was weaker.

© 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.