thyssenkrupp Elevator shifts funds between loans; RSA finalizes terms; MHS shops loan

By Sara Rosenberg

New York, June 29 – In the primary market on Monday, thyssenkrupp Elevator increased the size of its U.S. term loan B and cancelled plans for a term loan A.

Specifically, thyssenkrupp Elevator lifted the U.S. seven-year first-lien term loan B (B1/B/B+) by €500 million equivalent to $2.815 billion and terminated plans for the €500 million term loan A, according to market sources.

The company is still getting a €1 billion euro seven-year first-lien term loan B (B1/B/B+).

Talk on the U.S. and euro term loans remained at Libor/Euribor plus 425 basis points with a 0% floor, an original issue discount of 96 to 97 and 101 soft call protection for one year.

Commitments continue to be due at 10 a.m. ET on Tuesday, the source added.

The company is also issuing $1.655 billion of senior secured notes, which were upsized by €250 million equivalent, €1 billion of senior secured notes, which were upsized by €250 million, €500 million of floating-rate notes, which were downsized by €500 million, about $440 million of senior notes and €650 million of senior notes for the transaction.

Also, RSA revealed that it firmed the original issue discount on its first-lien term loan at the tight end of guidance and added a pricing step-down, and MHS Holdings Inc. came to market with an incremental term loan B.

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