Isagenix breaks; SunSource, GTT modify deals; Jordan Health, Greenway set price talk

By Sara Rosenberg

New York, April 26 – Isagenix International LLC reduced pricing on its term loan, tightened the original issue discount and adjusted the call protection, and then the debt made its way into the secondary market on Thursday.

Isagenix International cut pricing on its $375 million seven-year first-lien term loan (B2/BB-) to Libor plus 575 basis points from Libor plus 600 bps, moved the original issue discount to 99 from 98 and modified the 101 call protection for one year to a hard call from a soft call, according to a market source.

Recommitments were due at noon ET on Thursday, and later in the day the term loan freed up for trading, with levels quoted at 99½ bid, 100½ offered, a trader added.

In more happenings, SunSource (STS Operating Inc.) shifted some funds between its first- and second-lien term loans and lifted the spread on the second-lien tranche, and GTT Communications Inc. upsized its term loans, trimmed pricing on the U.S. tranche and firmed pricing on the euro tranche at the low end of guidance.

Jordan Health Services (BW NHHC HoldCo Inc.) and Greenway Health LLC announced price talk with launch, and Odyssey Logistics & Technology Corp., Vistra Group and GFL Environmental Inc. joined the near-term primary calendar.

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