Hunterstown Generation hits secondary after size change; FR BR Holdings term loan on deck

By Sara Rosenberg

New York, Nov. 21 – Hunterstown Generation LLC (Kestrel Acquisition LLC) trimmed the size of its incremental term loan B and then freed up for trading on Wednesday afternoon.

The company cut its incremental term loan B due June 30, 2025 to $50 million from $150 million, and left pricing at Libor plus 425 basis points with a 1% Libor floor and an original issue discount of 99.5, according to a market source.

The incremental term loan still has 101 soft call protection for six months.

Final consents were due at 12:30 p.m. ET on Wednesday, and the loan began trading later in the session, with levels quoted at 99½ bid, par offered, a trader added.

In other happenings, FR BR Holdings joined the near-term primary calendar with a planned term loan offering.

The company set a bank meeting for 1 p.m. ET in New York on Tuesday to launch a $500 million senior secured term loan B, a market source remarked.

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