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Published on 6/17/2014 in the Prospect News CLO Daily and Prospect News High Yield Daily.

Alstom first-lien, Brickman, Seventy Seven break; primary sees deal changes surface

By Sara Rosenberg

New York, June 17 – Alstom Auxiliary Components saw its first-lien bank debt make its way into the secondary market on Tuesday, but its second-lien loan won’t allocate until later this week as changes just emerged on that tranche, and Brickman Group Ltd. LLC and Seventy Seven Energy Inc. freed up as well.

In more happenings, DaVita Healthcare Partners Inc. trimmed pricing on its term loan B, and Shearer’s Foods LLC lowered spreads on its first- and second-lien loans, while adding a step-down and tightening the offer price on its first-lien tranche.

Also, Wayne Fueling Systems LLC (Alfred Fueling Systems) reduced pricing on its first-lien term loan and added a step-down and firmed the spread on its second-lien loan at the high end of guidance while sweetening the call protection.

Furthermore, V.Group shifted some funds between its first- and second-lien term loans and updated pricing and original issue discounts on the tranches, Custom Sensors & Technologies upsized its first-lien term loan as its second-lien loan was eliminated, and adjusted pricing and call protection on the first-lien debt, and Seadrill Ltd. moved up the commitment deadline on its add-on term loan.

Additionally, the Winebow Group LLC, Landmark Aviation and Tribune Publishing Co. released price talk with launch, Altisource Solutions Sarl disclosed original issue discount talk, Solenis International LP (Ashland Water Technologies) guidance surfaced, and TI Automotive, Novitex Acquisition LLC (Pitney Bowes Management Services), Learfield Communications Inc. and Amneal Pharmaceuticals LLC emerged with new deal plans.


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