Endemol, Lonestar Generation, Cision, Multi Packaging break; Mueller accelerates deadline

By Sara Rosenberg

New York, Nov. 14 – Endemol increased the total size of its add-on term loan debt, finalized the breakdown of the U.S. and euro pieces, updated original issue discounts and then freed up for trading on Friday, and deals from Lonestar Generation LLC, Cision Inc. and Multi Packaging Solutions Inc./Chesapeake MPS Merger Ltd. emerged in the secondary as well.

In more happenings, Mueller Water Products Inc. moved up the commitment deadline on its term loan, Global Cash Access Inc. released guidance with launch, Novolex, formerly Hilex Poly, disclosed price talk on its in market deal, and Dealogic and Westmoreland Coal Co. joined the near-term calendar.

Endemol increased on Friday its add-on term loan due Aug. 13, 2021 to the equivalent of about $330 million from $300 million, set the U.S. tranche size at $265 million and the euro tranche size at €50 million, firmed the original issue discount on the U.S. piece at 97, the low end of the 96 to 97 talk, and finalized the discount on the euro piece at 97, compared to initial talk in the 97 area, according to a market source.

Pricing on the U.S. portion is Libor plus 575 basis points with a 1% Libor floor, and pricing on the euro tranche is Euribor plus 600 bps with a 1% Euribor floor. Both tranches have 101 hard call protection expiring August 2015, like the company’s existing term loans.

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