Endurance International, MultiPlan, International Seaways reveal price talk with launch

By Sara Rosenberg

New York, May 30 – Endurance International Group (EIG Investors Corp.), MultiPlan Inc. and International Seaways Operating Corp. all came out with price talk on transactions that they presented to investors during Tuesday’s market hours.

And, Securus Technologies Holdings Inc., Penn Engineering & Manufacturing Corp. and American Airlines Inc. joined this week’s primary calendar.

Securus Technologies nailed down timing on the launch of its previously announced $1.3 billion of credit facilities, with the bank meeting for the transaction scheduled to take place at for 2 p.m. ET in New York on Thursday, a market source said.

The facilities consist of a $150 million super-priority revolver, an $870 million seven-year covenant-light first-lien term loan and a $280 million eight-year covenant-light second-lien term loan.

Penn Engineering & Manufacturing set a lender call for Wednesday to launch a $540 million seven-year term loan B talked at Libor plus 300 bps with a 1% Libor floor, an original issue discount of 99.75 and 101 soft call protection for six months, according to a market source.

The company will also launch a €118 million seven-year term loan C talked at Euribor plus 275 bps with a 1% floor, a discount of 99.75 and 101 soft call protection for six months, the source said.

And American Airlines surfaced with plans to hold a lender call at 2 p.m. ET on Wednesday to launch a new loan deal, a market source remarked.

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