PetSmart LLC has launched a $1.7 billion leveraged loan for debt refinancing. The loan’s pricing is discussed at up to 4.25 percentage points over the benchmark and at a discounted price of 99 cents on the dollar. Lender commitments are due by Aug. 11. Proceeds will be used to refinance $5.65 billion outstanding debt.

This offering is one of 12 leveraged-loan transactions launched on Monday. Over $135 billion of deals entered the market in the prior two weeks. Other offerings include a $1.4 billion loan to help purchase 15 all-inclusive resorts from Hyatt Hotels Corp. The loan will refinance a term loan due in 2028 and separate bonds maturing in 2028 and 2029.

Read more at Yahoo Finance: PetSmart Plans to Sell $4.7 Billion of Debt to Fund Refinancing