Hyperion, Marriott Ownership, Sabert, DRW, STV Group free up; Playtika changes surface

By Sara Rosenberg

New York, Nov. 26 – Hyperion Insurance Group Ltd. modified the original issue discount on its incremental term loan B to 99.5 from 99 and Marriott Ownership Resorts Inc. set the issue price on its term loan B at par, the tight end of the 99.75 to par talk, and then both of these loans freed to trade on Tuesday.

Recommitments for Hyperion’s loan were due at 2 p.m. ET on Tuesday and the incremental loan was quoted in the afternoon at par 1/8 bid, par 5/8 offered. The incremental term loan is priced at Libor plus 350 basis points with a 1% Libor floor and has 101 soft call protection for six months.

Marriott’s term loan emerged in the secondary market with levels quoted at par 1/8 bid, par 5/8 offered. The term loan is priced at Libor plus 175 bps with a 0% Libor floor and has 101 soft call protection for six months.

Also, Sabert Corp. increased pricing on its term loan B before breaking for trading, and deals from DRW Holdings LLC and STV Group emerged in the secondary market as well.

In more happenings, Playtika Holding Corp. raised the spread on its term loan B, increased the Libor floor, widened the original issue discount and extended the call protection, and WIRB-Copernicus Group joined the post-Thanksgiving primary calendar.

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