Sotera term loan B rises with settlement news; RelaDyne, Ciena price guidance surfaces

By Sara Rosenberg

New York, Jan. 10 – Sotera Health Co.’s term loan B rose by a few points in the secondary market on Tuesday following news that its subsidiary, Sterigenics, entered into agreements to settle ethylene oxide cases in Illinois.

Sotera’s term loan B moved higher in trading after the company announced that its subsidiaries have reached agreements to settle the more than 870 ethylene oxide cases pending against Sterigenics in the Circuit Court of Cook County, Illinois, and US District Court for the Northern District of Illinois, a market source said.

The term loan B was quoted at 96 bid, 97 offered, up from 93¼ bid, 94¼ offered, the source added.

Meanwhile, in the primary market, RelaDyne Inc. released price talk on its incremental first-lien term loan B in connection with its lender call, and Ciena Corp. disclosed pricing guidance on its term loan B with launch.

RelaDyne held its lender call on Tuesday morning and announced talk on its non-fungible $200 million incremental first-lien term loan B due December 2028 at SOFR plus 500 basis points to 525 bps with a 0.5% floor, an original issue discount of 96 and 101 soft call protection for six months, a market source remarked. There is no CSA on the loan.

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