FullBeauty firms discounts, breaks; GTT Communications, Quincy Newspapers changes emerge

By Sara Rosenberg

New York, Oct. 15 – FullBeauty Brands finalized terms on its credit facility and then freed up for trading. The original issue discount on its $820 million seven-year first-lien term loan (B1/B-) firmed at 93, the tight end of revised talk of 92 to 93 but wide of initial talk of 99, and the discount on its $345 million eight-year second-lien term loan (Caa1/CCC) finalized at 87, basically in line with revised talk in the 87 area and wide of initial talk of 98 to 98.5, according to a market source.

Pricing on the first-lien term loan is Libor plus 475 basis points with a 1% Libor floor, and the debt has 101 soft call protection for one year. Pricing on the second-lien term loan is Libor plus 900 bps with a 1% Libor floor, and the tranche is non-callable for one year, then at 102 in year two and 101 in year three.

In more happenings, GTT Communications Inc. lifted pricing on its term loan B and widened the original issue discount, and Quincy Newspapers Inc. raised the spread on its B loan, revised the issue price and extended the call protection.

Also, Computer Sciences Government Services Inc., First Eagle Investment Management Inc. and eBay Enterprise Omni-Channel Logistics and Solutions Inc. released price talk with launch, Numericable-SFR SA approached lenders with U.S. and euro term loans, and Jarden Corp. joined the near-term calendar.

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