AssuredPartners dips on buyout news; Vistra Group, Jackson Hewitt, V. Group revise deals

By Sara Rosenberg

New York, July 20 – AssuredPartners Inc. saw its first-lien term loan move a bit lower in the secondary market on Monday after news surfaced that the company is being acquired.

The first-lien term loan was quoted at par bid, 100½ offered, down from 100 1/8 bid, 100 5/8 offered, a trader said.

Switching to the primary market, Vistra Group lowered the spread on its first-lien term loan, firmed pricing on its second-lien term loan at the low end of guidance and tightened original issue discounts on both tranches. Jackson Hewitt Tax Service Inc. reduced the size of its term loan B to $200 million from $250 million, according to a market source.

In addition, V. Group adjusted the issue price on its add-on first-lien term loan, and C.H.I. Overhead Doors Inc. moved up the commitment deadline on its $475 million credit facility to noon ET on Friday from July 28.

V. Group tightened the issue price on its fungible $90 million add-on first-lien term loan (B1) to par from talk of 99 to 99.5 and moved up the commitment deadline to Tuesday from Wednesday, a market source said.

Also, Charter Communications Inc., Jarden Corp. and Ardent Legacy Acquisitions Inc. released talk with launch, and Navistar International Corp., Global Healthcare Exchange LLC, Water Pik Inc. and The Mohegan Tribal Gaming Authority joined this week’s new issue calendar.

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