Indivior breaks; Research Now, Surgical Care updated; E.W. Scripps, Wabash modify deadlines

By Sara Rosenberg

New York, March 11 – Indivior plc’s credit facility made its way into the secondary market on Wednesday, with the U.S. term loan B seen trading above its original issue discount.

Switching to the primary, Research Now Group Inc. upsized its revolver and first-lien term loan B, tightened spreads and offer prices on its first- and second-lien term debt, and extended the call protection on the first-lien loan, and Surgical Care Affiliates Inc. firmed the original issue discount on its term loan at the tight end of revised guidance.

Also, E.W. Scripps Co. and Wabash National Corp. moved up the commitment deadlines on their loan deals, Hyperion Insurance Group Ltd. disclosed price talk with launch, Blackboard Inc. came to market with an add-on term loan B-3, and ViaWest emerged with new deal plans.

Indivior’s roughly $644 million U.S. 4¾-year term loan B broke for trading on Wednesday, with levels quoted at 94½ bid, 95½ offered, according to a trader.

Pricing on the U.S. term loan B, as well as on a €100 million 4¾-year term loan B, is Libor/Euribor plus 600 basis points with a 1% floor, and the debt was sold at an original issue discount of 94. There is 101 soft call protection for one year.

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