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Phoenix Services shutting early; U.S. Farathane, Electrical Components rework issue prices
By Sara Rosenberg
New York, May 19 – In the primary market on Thursday, Phoenix Services (Metal Services LLC) moved up the commitment deadline on its incremental term loan and amendment and extension of a portion of its existing term loan, and U.S. Farathane LLC and Electrical Components International Inc. modified the original issue discounts on their incremental term loans.
Phoenix Services accelerated the commitment deadline to noon ET on Monday from 5 p.m. ET on Tuesday on its incremental first-lien term loan due June 30, 2019 and amendment and extension of a portion of its June 30, 2017 term loan to June 30, 2019, a market source remarked.
U.S. Farathane changed the original issue discount on its fungible $80 million incremental term loan B due Dec. 23, 2021 to 99.25 from 99, and left pricing at Libor plus 475 bps with a 1% Libor floor, a market source said.
Electrical Components revised the original issue discount on its fungible $40 million incremental term loan B (B+) due May 2021 to 99.25 from 99, according to a market source.
Additionally, CHG Healthcare Services Inc. and Generation Brands Holdings Inc. came out with price talk with launch, and AmWINS Group LLC approached lenders with a repricing transaction.
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