Patagonia Holdco seeks term loan B; STG Logistics joins calendar with incremental plans

By Sara Rosenberg

New York, July 18 – In the primary market on Monday, Patagonia Holdco (Lumen Latin America) approached lenders with a term loan B for the acquisition of Lumen Technologies’ Latin American business.

The company launched an $800 million seven-year term loan B talked at SOFR plus 575 basis points with a 0.5% floor, an original issue discount of 90 and 101 soft call protection for six months, a market source remarked.

There is a recorded lender presentation for investors, and there will be a question-and-answer call at 10 a.m. ET on Wednesday to discuss the transaction, the source added.

Commitments are due at 5 p.m. ET on July 26.

Furthermore, STG Logistics emerged with plans to bring an incremental first-lien term loan to market this week.

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