York Risk, Templar, Intrawest break; Rite Aid softens; Ranpak, Crowne, Auxilium revised

By Sara Rosenberg

New York, Sept. 18 – York Risk Services Group, Templar Energy LLC and Intrawest Resorts Holdings Inc. all freed up for trading on Thursday, and Rite Aid Corp.’s term loans softened following the release of quarterly results in which it was revealed that full-year guidance was lowered.

Moving to the primary, Ranpak Holdings Inc. modified sizes, spreads and offer prices on its term loans, Crowne Group LLC raised pricing on its first-lien term loan and added a financial covenant, and Auxilium Pharmaceuticals Inc. tightened the discount on its add-on term loan.

Also, Mannington Mills moved up the commitment deadline on its term loan B, and Zebra Technologies Corp., Pilot Travel Centers LLC and Halyard Health Inc., Sage Automotive Holdings Inc. came out with price talk with launch.

York Risk Services’ credit facility hit the secondary market on Thursday, with the $555 million seven-year covenant-light term loan B and $60 million delayed-draw term loan strip quoted at 99 5/8 bid, par 1/8 offered, according to a trader.

Pricing on the term loan debt is Libor plus 375 basis points with a 1% Libor floor and it was sold at an original issue discount of 99¼.

Recently, pricing on the B loan was trimmed from Libor plus 400 bps, the discount firmed at the midpoint of the 99 to 99½ talk, the call protection was extended from six months and the delayed-draw term loan was added.

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