Gulf Finance term loan rises on amendment request news; Juice Plus slips with downgrade

By Sara Rosenberg

New York, Dec. 20 – Gulf Finance LLC’s term loan B was stronger by a few points in trading on Tuesday as the company went out to investors with an amendment proposal that would result in some of the debt being paid down.

Gulf Finance’s senior secured term loan B rose to 90 bid, 92 offered on Tuesday from 85 bid, 87 offered on Monday due to an amendment request, according to a trader.

The trader said that the company is seeking an amendment to allow for an asset sale and would use some of the proceeds from the sale to repay a portion of the outstanding term loan B.

Meanwhile, Juice Plus (JP Intermediate LLC) saw its term loan soften in the secondary market following a downgrade by Moody’s Investors Service of its corporate family and senior secured debt ratings.

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