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PrimeLine breaks; Micro Focus dips on repricing; Diamond, UPC, Penn Engineering launch
By Sara Rosenberg
New York, July 25 – PrimeLine Utility Services LLC saw its add-on term loan B free up for trading on Monday above its original issue discount price, and Micro Focus International plc’s term loan B headed lower with the launch of a repricing transaction.
PrimeLine’s fungible $160 million add-on term loan B was quoted at 100 1/8 bid, 100 5/8 offered by late day, according to a trader.
Micro Focus’ term loan B fell to par bid, 100˝ offered from 100˝ bid, 101 offered, a trader remarked.
In more happenings, Diamond Resorts International Inc. and UPC Financing Partnership released pricing guidance with launch, and Penn Engineering & Manufacturing Corp. came out with original issue discount talk on its tack-on term loan.
Also, Gulf Finance LLC, Engility Corp., Milk Specialties Global and CAMP Systems International joined this week’s new issue calendar.
Gulf Finance scheduled a lender presentation for 10 a.m. ET on Wednesday to launch a $1.2 billion senior secured term loan B.
Engility surfaced with plans to hold a bank meeting at 2 p.m. ET in New York on Tuesday to launch $800 million of senior secured term loans.
Milk Specialties scheduled a bank meeting for 2 p.m. ET in New York on Tuesday to launch a $525 million credit facility (B2).
And CAMP Systems International is planning to hold a bank meeting at 10:30 a.m. ET in New York on Thursday to launch a new senior secured credit facility.
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