US LevFin Wrap — BBB squeezes through, 888 takes the weekend

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US LevFin Wrap — BBB squeezes through, 888 takes the weekend

Will Caiger-Smith's avatar
William Hoffman's avatar
  1. Will Caiger-Smith
  2. +William Hoffman
5 min read

Another week, another 10 point discount: this time on the term loan backing BBB Industries’ buyout by Clearlake Capital. A day after the original commitment deadline, the JPMorgan-led bank group added five points of OID to squeeze the deal through before the July 4 holiday.

British gambling company 888 Holdings also ran up against that holiday scheduling, pushing back syndication of debt for its acquisition of William Hill. The book for the US dollar loan (added to the structure late in the process) was 2/3 full as of Thursday morning.

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