Bayer Environmental, ETC Group accelerate; Corporation Service discloses talk

By Sara Rosenberg

New York, Aug. 1 – In the primary market on Monday, Bayer Environmental Science (Discovery Purchaser Corp.) and ETC Group (EOS Finco) moved up the commitment deadlines for their loan transactions.

Bayer Environmental Science changed the commitment deadline for its $1.346 billion seven-year first-lien term loan (B3/B-) and $300 million eight-year second-lien term loan (Caa2/CCC) to noon ET on Wednesday from 5 p.m. ET on Thursday, according to a market source.

Talk on the first-lien loan is SOFR plus 437.5 basis points with a 0.5% floor, an original issue discount of 90 and 101 soft call protection for six months, and talk on the second-lien loan is SOFR plus 700 bps with a 0.5% floor, a discount of 85.5 and call protection of non-callable for one year, then at 102 in year two and 101 in year three.

Furthermore, Corporation Service Co. (CSC) released price talk on its term loan B in connection with its lender call.

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