Belcan restructures deal; Peacock Engineering, Precyse Solutions, Recorded Books set talk

By Sara Rosenberg

New York, July 9 – In the primary loan market on Thursday, Belcan Corp. (Propulsion Acquisition LLC) widened the spread and original issue discount on its term loan, sweetened the call protection and the excess cash flow sweep, and shortened the maturity.

The company raised pricing on its $190 million term loan by 50 basis points to 600 bps. It also shorted maturity by a year to six years.

Additionally, Peacock Engineering, Precyse Solutions LLC and Recorded Books came out with price talk on their loans with launch.

Peacock is launching its $320 million credit facility with price talk of Libor plus 425 bps. It is also getting a privately placed $55 million term loan.

Precyse is eying Libor plus 475 bps for its $130 million credit facility consisting of a $20 million five-year revolver and a $110 million seven-year term loan.

Recorded Books’ $107.5 million term loan is being talked at Libor plus 450 bps to 475 bps. The credit facility includes a $20 million revolver and a $32.5 million term loan that was pre-placed and priced at Libor plus 85 bps.

Ascena Retail Group Inc. and C.H.I. Overhead Doors revealed bank meeting timing, with both meetings to be held Tuesday. And MediaOcean LLC and PLZ Aeroscience Corp. joined next week’s calendar.

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