Atlantic Power breaks; Reynolds, iHeart tweak deals; EyeCare accelerates deadline

By Sara Rosenberg

New York, Jan. 29 – Atlantic Power Corp. firmed the issue price on its term loan B at the tight end of revised and initial talk, and then the debt freed to trade on Wednesday.

Specifically, the company set the issue price at par, the tight end of revised talk of 99.75 to par and the tight end of initial talk of 99.875 to par, according to a market source.

The term loan is still priced at Libor plus 250 basis points with a step-down to Libor plus 225 bps at 2.75x consolidated total leverage and a 1% Libor floor, and still has 101 soft call protection for six months.

The term loan broke for trading with levels quoted at par 1/8 bid, par 5/8 offered in the afternoon, another source added.

In more happenings, Reynolds Consumer Products LLC finalized the spread on its term loan at the low end of guidance and tightened the original issue discount.

Also, iHeartCommunications Inc. raised pricing on its term loan, and EyeCare Partners LLC moved up the commitment deadline for its first-lien term loan.

Furthermore, Spring Education Group and Dynatrace LLC disclosed price talk with launch, and Zotec Partners, Floor & Decor and Inovalon emerged with new deal plans.

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