Novetta, Navex break; NN, Universal Fiber disclose deal updates; Concordia, Sucampo set talk

By Sara Rosenberg

New York, Oct. 1 – Novetta’s credit facility made its way into the secondary market on Thursday, with the first-lien term loan quoted above its original issue discount and the second-lien term loan bid in line with its issue price, and Navex Global’s add-on term debt freed up as well.

Moving to the primary market, NN Inc. widened the spread and original issue discount on its term loan, and Universal Fiber Systems LLC firmed pricing on its first-lien term loan at the high end of revised guidance.

Also, Concordia Healthcare Corp. and Sucampo Pharmaceuticals Inc. released price talk with launch, and timing emerged on B&G Foods Inc.’s term loan.

In other news, Beacon Roofing Supply Inc. completed its acquisition of Roofing Supply Group in a cash and stock transaction valued at around $1.1 billion.

To help fund the transaction, Beacon got a new $1.15 billion credit facility consisting of a $700 million five-year ABL revolver and a $450 million seven-year covenant-light senior secured term loan B (B2/BB+).

Berry Plastics Corp. LLC closed on its acquisition of Avintiv for about $2.45 billion. To help fund the transaction, Berry got a new $2.1 billion first-lien term loan.

Hanson Building Products (Stardust Finance Holdings Inc.) closed on its acquisition of Cretex Concrete Products Inc., according to a news release. Funding for the acquisition came from a fungible $240 million incremental first-lien term loan.

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