Hilex, Ipreo break; Emerald Expo updates deal; Key Safety, Dave & Buster’s shutting early

By Sara Rosenberg

New York, July 16 – Hilex Poly LLC’s credit facility freed up for trading on Wednesday with the term loan quoted above its original issue discount, and Ipreo Holdings LLC hit the secondary market as well.

Switching to the primary, Emerald Expositions Holding Inc. extended the call protection on its term loan, and Key Safety Systems Inc. and Dave & Buster’s Inc. accelerated the commitment deadlines on their credit facilities.

Amaya Gaming Group Inc. (Amaya BV and Amaya (US) Co-Borrower LLC), Styrolution, Ceridian LLC, Chrysaor Ltd. and QSR (QSRH Borrowing Co. pty Ltd. and US Finco LLC) released price talk with their launches, and Portillo Restaurant Group Inc. set timing on its deal and updated the structure.

Hilex Poly’s credit facility broke for trading on Wednesday, with the $470 million seven-year covenant-light term loan quoted at par bid, par ½ offered, according to a trader.

Pricing on the term loan is Libor plus 400 basis points with a 1% Libor floor and it was sold at an original issue discount of 99½. There is 101 soft call protection for one year.

Recently, pricing on the term loan was reduced from Libor plus 425 bps, the call protection was extended from six months and the MFN sunset was eliminated.

The Hartsville, S.C.-based manufacturer of plastic bags is also getting an $85 million five-year revolver as part of its $555 million senior credit facility (B2/B).

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