Revlon frees to trade above OID; PrimeLine changes emerge; UFC, WCA Waste release price talk

By Sara Rosenberg

New York, July 22 – Revlon Consumer Products Corp.’s credit facility emerged in the secondary market on Friday, with the term loan B seen trading above its original issue discount.

Revlon’s $1.8 billion seven-year covenant-light term loan B (Ba3/B+) was quoted at 99¾ bid, 100¼ offered, according to a trader.

Meanwhile, in the primary market, PrimeLine Utility Services LLC increased the size of its well oversubscribed add-on term loan B and modified the original issue discount.

Also, UFC and WCA Waste Corp. came out with price talk on their deals with launch, and Truck Hero Inc. joined the near-term new issue calendar.

UFC held its bank meeting on Friday, launching its $1.3 billion seven-year senior secured covenant-light term loan B (B1/B+) with talk of Libor plus 450 bps to 475 bps with a 1% Libor floor, a market source remarked.

WCA Waste released talk of Libor plus 300 bps with a 1% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months on its $300 million term loan B, according to a market source.

Truck Hero set a bank meeting for Tuesday to launch a $525 million seven-year term loan B that is talked at Libor plus 475 bps to 500 bps with a 1% Libor floor, a market source said.

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