Expro, Packaging Coordinators, Bowlmor AMF, Preferred Proppants break; Ocwen, Hertz retreat

By Sara Rosenberg

New York, Aug. 12 – Expro Oilfield Services plc reduced its term loan B size, firmed the spread and original issue discount at the wide end of revised talk, extended the call protection and freed up for trading on Tuesday, and Packaging Coordinators Inc., Bowlmor AMF Corp. and Preferred Proppants (Preferred Sands LLC) broke as well.

Also in the secondary market, Ocwen Financial Corp.’s term loan softened following news that a restatement of recent financial results is necessary, and Hertz Corp.’s term loans were a bit weaker as the company revealed that it will be unable to file its quarterly report by the deadline.

In other happenings, Charter Communications Operating LLC tightened the offer price on its term loan G, and Bioplan/Arcade Marketing lifted pricing on its first- and second-lien term loans and adjusted original issue discounts.

Additionally, Safe-Guard (SG Acquisition Inc.) increased pricing and added a covenant to its term loan, and NGB Home widened spread and original issue discounts on its first- and second-lien term loans, sweetened the first-lien call protection and upsized its revolver.

Furthermore, MSX International raised the spread and extended the call premium on its term loan B, and Medley LLC increased pricing on its term loan, modified the call protection and shortened the maturity.

Expro Oilfield trimmed its covenant-light term loan B to $1.3 billion from $1,435,000,000, according to a market source.

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