Ascend Performance Materials completes $1.086B term loan repricing; terms

Investors have received allocations of Ascend Performance Materials Operations LLC's $1.086 billion repriced term loan B due August 2026 that wrapped tight of talk at L+475 with a 0.75% Libor floor, and was issued at par via lead arranger BofA Securities, according to sources. The term loan was quoted at 100.75/101 following allocations. The transaction lowers the spread on the covenant-lite term loan from L+525 with a 1% Libor floor. Houston-based Ascend Performance Materials, backed by SK Capital, is a manufacturer of plastics, fibers and chemicals. Terms: