U.S. Security, Booz Allen free to trade; Alliant Insurance, Plaskolite loans come to market

By Sara Rosenberg

New York, July 7 – U.S. Security Associates Inc.’s credit facility made its way into the secondary market on Thursday, with the term loan B quoted above its issue price, and Booz Allen Hamilton Inc.’s loan transaction freed up as well.

U.S. Security Associates’ $450 million seven-year senior secured term loan B was quoted at 99¾ bid, 100¾ offered, according to a market source.

Booz Allen Hamilton’s $400 million seven-year term loan B (Ba2/BB) had levels quoted at 100 1/8 bid, without any offers, a trader remarked.

Switching to the primary market, Alliant Insurance Intermediate LLC released price talk with launch, and Plaskolite LLC disclosed original issue discount guidance on its add-on first-lien term loan.

Alliant Insurance held its lender call on Thursday morning, launching its $280 million senior secured incremental first-lien covenant-light term loan B due Aug. 14, 2022 with talk of Libor plus 400 bps with a 1% Libor floor, an original issue discount of 98 and 101 soft call protection for six months, a market source said.

Plaskolite came out with original issue discount talk of 99 to 99.5 on its fungible $70 million add-on first-lien term loan (B) that launched with an afternoon lender call, a source remarked.

Also, Realogy Group LLC came out with timing and structure on its refinancing transaction, and Texas Competitive Electric Holdings Co. LLC joined the near-term new issue calendar.

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