Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for CHG Healthcare Services Inc. > News item |
PetSmart, TransDigm, Arcade/Bioplan break; Aria, Ranpak update deals; CHG tweaks deadline
By Sara Rosenberg
New York, May 13 – PetSmart Inc.’s repriced term loan B freed up for trading during Wednesday’s market hours, with levels seen above par, and TransDigm Inc. and Arcade Marketing/Bioplan emerged in the secondary market as well.
Meanwhile, in the primary market, Aria Energy Operating LLC trimmed pricing on its term loan B, Ranpak Corp. finalized the spread on its euro term loan at the low end of guidance and CHG Healthcare Services Inc. moved up the commitment deadline on its add-on term loan.
Also, LegalShield (Pre-Paid Legal Services Inc.) disclosed price talk with its launch and Valeant Pharmaceuticals International Inc., ClubCorp, Varsity Brands Inc. and Connolly Inc. joined this week’s calendar.
PetSmart frees up
PetSmart’s $4.3 billion senior secured covenant-light term loan B due March 10, 2022 hit the secondary market on Wednesday, with levels quoted at par 1/8 bid, par 3/8 offered, according to a trader.
Pricing on the loan is Libor plus 325 basis points, after flexing during syndication from Libor plus 300 bps. The debt has a 1% Libor floor and 101 soft call protection for one year, and was issued at par.
Citibank is the administrative agent on the deal that will be used to reprice an existing term loan B from Libor plus 400 bps with a 1% Libor floor.
With the repricing, existing lenders are being paid out at 101 due to current call protection.
Closing is expected on Friday.
PetSmart is a Phoenix-based specialty pet retailer.
© 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.