ClubCorp term loan lower on buyout; Liquidnet, Archroma release final loan terms

By Sara Rosenberg

New York, July 10 – In the secondary market on Monday, ClubCorp’s term loan was softer following news that the company is being acquired by Apollo Global Management LLC.

ClubCorp’s term loan was quoted at 100 3/8 bid, 100¾ offered, down from 100 5/8 bid, 100 7/8 offered, a trader said.

Moving to the primary market, Liquidnet Holdings Inc. trimmed pricing on its first-lien term loan, and Archroma updated pricing on its U.S. and euro first-lien term loans.

Liquidnet Holdings lowered pricing on its $200 million seven-year senior secured first-lien term loan (B1/B+) to Libor plus 425 basis points from talk of Libor plus 475 bps to 500 bps, according to a market source.

Archroma finalized pricing on its $225 million first-lien term loan B-2 (B1/B) at Libor plus 425 bps, the low end of the Libor plus 425 bps to 450 bps talk, a market source remarked. As for its $455 million seven-year euro equivalent covenant-light first-lien term B-1 (B1/B), pricing was cut to Euribor plus 400 bps from talk of Euribor plus 425 bps to 450 bps.

Also, Hayward Industries Inc., YRC Worldwide Inc., Asurion LLC, Toledo Molding & Die Inc. and Sky Betting & Gaming released price talk with launch.

In addition, Global Tel*Link Corp. Inc., HD Supply Waterworks Ltd., eResearchTechnology Inc., U.S. Security Associates Inc., ASG Technologies Group Inc. and Arterra Wines Canada Inc. joined this week’s calendar.

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