NRG, ABB/Con-Cise, PolyOne break; U.S. Foods, Microsemi, Affinity Gaming, Forterra revised

By Sara Rosenberg

New York, June 14 – NRG Energy Inc.’s term loan B made its way into the secondary market on Tuesday, with levels bid right around the original issue discount, and deals from ABB/Con-Cise Optical Group LLC and PolyOne Corp. freed up as well.

In more trading happenings, Toys ‘R’ Us Inc.’s term loan B-4 was stronger on plans to refinance the company’s notes and Neiman Marcus Group LLC’s term loan B was down with the release of third fiscal quarter numbers.

Moving to the primary market, U.S. Foods Inc. downsized its term loan B, finalized pricing at the low end of talk, added a step-down and revised the issue price, and Microsemi Corp. lowered the spread on its term loan B and widened the original issue discount talk.

Furthermore, Affinity Gaming set pricing on its term loan at the tight end of talk and modified the issue price, and Forterra (Stardust Finance Holdings Inc.) upsized its incremental first-lien term loan.

Also, Bombardier Recreational Products Inc., Patterson Medical, Mediware Information Systems Inc., Grocery Outlet Inc. (GOBP Holdings Inc.) and Service King Collision Repair Centers released price talk on their deals with launch, and Royal Oak Enterprises LLC joined this week’s new issue calendar.

NRG Energy set pricing on its $1.9 billion seven-year senior secured covenant-light term loan B (BB+) at Libor plus 275 basis points, the high end of the Libor plus 250 bps to 275 bps talk. The loan then freed up for trading on Tuesday, with levels seen at 99½ bid, 99 7/8 offered, according to a trader.

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