Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Civitas Solutions Inc. > News item |
StandardAero tightens pricing; Civitas Solutions sets talk; loans recoup year-end losses
By Paul A. Harris
Portland, Ore., Jan. 23 – The leveraged loan index has taken back the ground it gave up during the volatile month of December, a trader said on Wednesday.
The index returned 2.39% for 2019 to Tuesday’s close, essentially recouping its 2.31% December decline, the source said.
The index is presently priced at 96.43, not quite two dollars off its low of $94.47, on Jan. 2, the trader added.
The cash flows of the dedicated bank loan funds remain negative, however, the trader said.
The loan funds sustained $330 million of outflows on Tuesday, the most recent session for which data was available at press time.
That left the funds in the red year-to-date to the tune of negative $1.8 billion.
There was activity in the new issue market on Wednesday.
StandardAero Aviation Holdings Inc. (Dynasty Acquisition Co. Inc.) tightened pricing and trimmed the discount on its $2,145,000,000 seven-year covenant-light first-lien term loan.
The spread to Libor flexed to 400 basis points to 425 bps. The discount was set at 99.5, from discount talk of 98 to 98.5.
And Civitas Solutions, Inc. set pricing on an $855 million seven-year first-lien term loan.
The deal is coming with a 450 bps spread to Libor, with a 0% Libor floor, at 98.5.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.