Cision, Nexeo deal changes emerge; MultiPlan, Cypress, U.S. Farathane, CIBT launch loans

By Sara Rosenberg

New York, May 16 – Cision on Monday returned its first-lien term loan to an all U.S. dollar tranche, as a recently added euro carve-out was eliminated, and widened spreads as well as original issue discounts on its first-and second-lien term loan debt.

Also on the primary front, Nexeo Solutions Holdings LLC tightened pricing and original issue discount on its term loan B while also accelerating the commitment deadline, and MultiPlan Inc., Cypress Semiconductor Corp., U.S. Farathane LLC and CIBT Holdings Inc. released price talk with launch.

In addition, AdvancePierre Foods Inc., Allnex (Allnex Sarl/Allnex USA Inc.), CHG Healthcare Services Inc., Learfield Communications Inc., Electrical Components International Inc. and Vencore joined this week’s new issue calendar.

Moving to the secondary market, a $275 million Bid Wanted In Competition surfaced, with bids due at 11 a.m. ET on Tuesday, and a $59 million BWIC was announced, with bids due at 1 p.m. ET on Tuesday, according to traders.

In other news, the acquisition of Cable & Wireless Communications plc (Sable International Finance Ltd.) by Liberty Global plc in a transaction valued at about $7.4 billion on an enterprise value basis has been completed, according to a news release.

As part of the transaction, Cable & Wireless Communications got $800 million of seven-year covenant-light term loan B debt (Ba2/BB-).

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