Global Eagle Entertainment, Las Vegas Sands term loans free to trade above issue prices

By Sara Rosenberg

New York, Dec. 22 – Global Eagle Entertainment Inc.’s credit facility made its way into the secondary market on Thursday, with its first-lien term loan quoted above its original issue discount, and Las Vegas Sands LLC broke for trading too.

Global Eagle Entertainment’s $500 million six-year first-lien term loan was quoted at 97¼ bid, 98¼ offered, according to a trader.

Las Vegas Sands’ repriced roughly $2.19 billion term loan B began trading as well, with levels seen at 100¼ bid, 100 5/8 offered, a trader said.

Over in the primary market, timing on the launch of Optiv Security Inc.’s proposed credit facility surfaced. Optiv Security set a bank meeting for 10:30 a.m. ET on Jan. 5 to launch its previously announced proposed credit facility, according to a market source.

The facility consists of an ABL revolver, a covenant-light first-lien term loan and a covenant-light second-lien term loan, with tranche sizes not yet available, the source said.

In other news, DigitalGlobe Inc. completed its $1,475,000,000 credit facility (Ba3/BB+) that includes a $200 million revolver and a $1,275,000,000 seven-year term loan B, a news release said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.