JBS, Delta Air Lines break; Townsquare Media reveals discount talk; Anaren joins calendar

By Sara Rosenberg

New York, Aug. 18 – JBS USA LLC’s term loan made its way into the secondary market on Tuesday, with levels quoted above its original issue discount, and Delta Air Lines Inc. finalized the issue price on its term loan B at the tight end of guidance, and then it too freed up for trading during the session.

JBS’ $1.2 billion first-lien term loan due August 2022 (Ba1/BB+) began trading with levels quoted at 99¾ bid, par offered, according to a market source.

Delta firmed the original issue discount on its $500 million seven-year term loan B at 99.5, the tight end of the 99 to 99.5 talk, according to a market source.

Recommitments were due at noon ET on Tuesday, and with final terms in place, the debt made its way into the secondary market in the afternoon, with the term loan B quoted at 99¾ bid, 100¼ offered, a trader added.

In more happenings, Townsquare Media Inc. released original issue discount talk on its add-on term loan with launch, and Anaren Inc. emerged with new deal plans.

In other news, PowerTeam Services allocated its fungible $40 million add-on first-lien term loan that is priced at Libor plus 325 bpswith a 1% Libor floor, in line with existing first-lien term loan pricing, and was sold at an original issue discount of 99.026, according to a market source.

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