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Alterra breaks; U.S. Silica revised; GGP, Alliant, Jo-Ann, USIC, HydroChemPSC set talk
By Sara Rosenberg
New York, April 23 – Alterra Mountain Co. (Intrawest Resorts Holdings Inc.) firmed pricing on its term loan B at the high end of guidance and then the debt surfaced in the secondary market on Monday with levels quoted above its issue price.
Alterra Mountain set pricing on its $1.56 billion covenant-light term loan B due July 2024 at Libor plus 300 basis points, the wide end of the Libor plus 275 bps to 300 bps talk, according to a market source.
After terms finalized, the loan broke for trading and levels were seen at 100 3/8 bid, 100¾ offered, the source said.
In more happenings, U.S. Silica Holdings Inc. raised the spread on its term loan B, and GGP Inc., Alliant Holdings Intermediate LLC, Jo-Ann Stores LLC, USIC Holdings Inc., NES Global Talent Finance US LLC and HydroChemPSC revealed price talk with launch.
Also, BI-LO LLC, Plastipak Holdings Inc., Foundation Building Materials Holdings Co. LLC, Lumos Networks, AlixPartners LLP and CityMD (WP CityMD Bidco LLC) joined this week’s primary calendar.
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