Leidos/Abacus, J.C. Penney, J.D. Power, Ennis-Flint, Cinemark, Ferrara Candy free to trade

By Sara Rosenberg

New York, June 9 – Leidos Holdings Inc./Abacus Innovations Corp.’s credit facility hit the secondary market on Thursday with the term loan B quoted above its original issue discount, and J.C. Penney Co. Inc., J.D. Power, Ennis-Flint and Cinemark USA Inc. freed up too.

J.C. Penney’s $1,688,000,000 seven-year term loan levels were quoted at par bid, par ½ offered, according to a trader.

The term loan is priced at Libor plus 425 bps with a 1% Libor floor and was issued at a discount of 99.5. Included in the debt is 101 soft call protection for six months.

J.D. Power’s $565 million credit facility provides for a $35 million revolver.

Ennis-Flint’s $442 million seven-year senior secured first-lien term loan B was seen at par bid, 101 offered, a trader remarked.

Cinemark’s repriced $664 million covenant-light term loan B due May 8, 2022 was quoted at par bid, par 3/8 offered.

Also, Ferrara Candy Co. Holdings Inc. lifted its seven-year senior secured first-lien covenant-light term loan B to $535 million from $500 million, cut pricing to Libor plus 450 bps from Libor plus 475 bps and moved the original issue discount to 99.5 from 99, a market source remarked.

Furthermore, Strategic Partners Acquisition Corp., MW Industries (MWI Holdings Inc.), Pomeroy Group and Northstar Travel Group released price talk with launch, and TriMark (TMK Hawk Parent Corp.) emerged with new deal plans.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.