Two big names in the consumer space made the most out of the tight spreads in the primary this week, even as new issuance in the US leveraged finance market continued to slow down.

Yogurt maker Chobani tapped the market with a USD 1.35bn term loan due 2032 priced at SOFR+ 225bps via TD Securities to refinance existing debt. The Norwich-based company upsized the loan from USD 1.275bn and tightened pricing from talks of SOFR+ 250bps.