Zekelman, TransDigm, MKS Instruments, Generation Brands, Victory Capital free to trade

By Sara Rosenberg

New York, June 7 – Zekelman Industries increased the size of its senior secured term loan B due 2021 to $825 million from $800 million, firmed pricing at Libor plus 500 basis points, added a step-down to Libor plus 475 bps at net first-lien leverage of 2.5 times and modified the original issue discount to 99 from 98.5 before breaking for trading on Tuesday.

In addition, the incremental “freebie” was reduced to $125 million from $150 million due to the term loan B upsizing, according to a market source.

Deals from TransDigm Inc., MKS Instruments Inc., Generation Brands Holdings Inc. and Victory Capital Operating LLC hit the secondary market as well.

In more happenings, Leidos Holdings Inc./Abacus Innovations Corp. set pricing on their term loan B at the low end of talk, removed the Libor floor and tightened the original issue discount, J.D. Power upsized its first-lien term loan and revised the spread and issue price on its first- and second-lien tranches, and Eze Software Group firmed pricing on its term loan at the tight end of guidance while modifying the original issue discount.

Also, US Foods Inc., NRG Energy Inc., Microsemi Corp., Alorica Inc. and Six Flags Entertainment Corp. revealed price talk with launch, and Prime Security Services Borrower LLC (ADT), Pomeroy Group and ExamWorks Group Inc. joined this week’s new deal calendar.

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