C.H.I. Overhead frees to trade; Ardent Legacy, PLZ Aeroscience, Asurion revisions surface

By Sara Rosenberg

New York, July 28 – C.H.I. Overhead Doors Inc. moved some funds between its first- and second-lien term loans while tightening spreads and original issue discounts, and then the debt made its way into the secondary market on Tuesday, with the first-lien term loan quoted at par 3/8 bid, par ¾ offered and the second-lien term loan quoted at par ¼ bid, 101¼ offered.

In more happenings, Ardent Legacy Acquisitions Inc. trimmed pricing on its term loan, and PLZ Aeroscience Corp. reduced the size of its U.S. revolver, as a standalone Canadian revolver is now being obtained, and pricing and original issue discount on the U.S. revolver and term loan was modified.

Asurion LLC upsized its first-lien term loan to up to $2,715,000,000 from $700 million, as it is now contemplating refinancing term loan B-1 borrowings.

Also, Knowledge Universe Education LLC, Alion Science & Technology Corp. (Dysart Merger Sub Inc.), PODS LLC, Emdeon Inc., Graton Economic Development Authority and ICON Health & Fitness disclosed talk with launch.

Additionally, Party City Holdings Inc., PetroChoice Holdings Inc. and Jet Support Services Inc. emerged with new deal plans.

Party City will launch a $1.34 billion seven-year term loan B and is also obtaining a $540 million asset-based revolver, while PetroChoice plans to launch a $365 million credit facility. Jet Support will launch a $175 million term loan.

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