Xperi tweaks deal; Micro Focus revises deadline; AssuredPartners, Douglas Dynamics set talk

By Sara Rosenberg

New York, May 28 – Xperi Corp. widened original issue discount talk on its term loan B on Thursday, and Micro Focus International plc accelerated the commitment deadline for its U.S. and euro term loans.

Xperi revised original issue discount talk on its $1.1 billion covenant-lite term loan B (Ba3/BB-) to a range of 90 to 92 from 96, a market source said.

As before, pricing on the term loan is Libor plus 400 basis points with a 0% Libor floor.

Micro Focus moved up the commitment deadline for its $400 million five-year senior secured term loan B (B1//BB) to 5 p.m. ET on Thursday from 10 a.m. ET on Friday and on its €400 million five-year senior secured term loan B (B1//BB) to 5 a.m. ET on Friday from 10 a.m. ET on Friday, according to a source.

Price talk on the U.S. term loan is Libor plus 450 bps with a 1% Libor floor and an original issue discount of 95, and talk on the euro term loan is Euribor plus 450 bps with a 0% floor and a discount of 97. The term loans are non-callable for one year, then at 102 in year two.

In other news, AssuredPartners Inc. and Douglas Dynamics Inc. released price talk on their term loans in connection with their lender calls.

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