Mattress Firm frees to trade; Vizient tweaks loan; Vivid Seats details surface with launch

By Sara Rosenberg

New York, Feb. 3 – Mattress Firm Holding Corp.’s incremental first-lien term loan made its way into the secondary market during Wednesday’s session, and the debt was seen bid right around its original issue discount.

Mattress Firm’s $665 million senior secured incremental first-lien term loan (Ba3/B+) due Oct. 20, 2021 was quoted at 97 bid, 97½ offered, according to a trader.

Also in trading, Central Security Group Inc.’s fungible $50 million incremental first-lien term loan due Oct. 6, 2020 (B2/B-) was quoted at 97 bid, 98 offered, in line with where it broke for trading on Tuesday, a trader remarked.

Moving to the primary market, Vizient Inc. reduced the size of its term loan due to an increase in the amount of bonds it is issuing, Vivid Seats Ltd. released price talk on its term loan with launch, and MedRisk LLC surfaced with new deal plans.

Vizient cut its seven-year secured covenant-light term loan to $1,375,000,000 from $1,475,000,000 in connection with upsizing its notes offering to $500 million from $400 million, a market source said.

Vivid Seats held its bank meeting on Wednesday morning, at which time lenders were presented with a $240 million seven-year first-lien term loan.

MedRisk set a bank meeting for 2 p.m. ET in New York on Monday to launch a $227.5 million senior credit facility, a market source remarked.

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