WatchGuard Technologies, Asurion, BCP Renaissance term loans free to trade

By Sara Rosenberg

New York, Aug. 17 – WatchGuard Technologies Inc. firmed the original issue discount on its first-lien term loan at the tight end of revised guidance and Asurion LLC set the spread on its term loan B-10 at the low side of talk, and then both of these deals made their way into the secondary market on Wednesday.

Also, BCP Renaissance Parent LLC allocated a fungible add-on term loan B-3, which started trading as part of one tranche with the existing term loan B-3.

In its deal, WatchGuard finalized the original issue discount on its $550 million seven-year first-lien term loan (B2/B-) at 93.5, the tight end of revised talk of 93 to 93.5 and tighter than initial talk of 92 to 93, a market source remarked.

Meanwhile, Asurion firmed pricing on its $1.184 billion term loan B-10 due 2028 (Ba3/B+) at SOFR plus 400 bps, the low end of the SOFR plus 400 bps to 425 bps talk, according to a market source.

As before, the term loan B-10 has a 0% floor, 10 bps CSA, an original issue discount of 95 and 101 soft call protection for one year.

BofA Securities Inc. is the left lead on the deal.

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