Filtration Group, Wyndham, XPO, PG&E, Cinemark, Golden Entertainment, TTM set talk

By Sara Rosenberg

New York, May 15 – It was a relatively busy day in the primary market on Monday, with deals from Filtration Group Corp., Wyndham Hotels & Resorts Inc., XPO Inc., PG&E Corp., Cinemark Holdings Inc., Golden Entertainment Inc. and TTM Technologies Inc. all releasing price talk on their term loans in connection with lender calls.

Filtration Group surfaced in the morning with the intention to hold a lender call at 11:30 a.m. ET on Monday to launch a $1.227 billion first-lien term loan due October 2028 and a €409 million first-lien term loan due October 2028, a market source remarked.

The U.S. term loan is talked at SOFR+CSA plus 375 basis points to 400 bps with a 0.5% floor and an original issue discount of 99, and the euro term loan is talked at Euribor plus 425 bps to 450 bps with a 0.5% floor and a discount of 98, the source continued.

CSA on the U.S. loan is 11 bps one-month rate, 26 bps three-month rate and 43 bps six-month rate, and both loans have 101 soft call protection for six months.

Also, Solenis scheduled a lender call for its previously announced incremental term loan B and Protective Industrial Products Inc. (PIP) joined this week’s new issue calendar.

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