Ineos Styrolution, Golden Nugget break; IP&S, Smart & Final, HD Supply revisions emerge

By Sara Rosenberg

New York, Sept. 15 – Ineos Styrolution Group GmbH reduced the size of its first-lien term loan B, trimmed the spread, tightened the original issue discount and then freed up for trading on Thursday, and Golden Nugget Inc.’s repriced term loan debt broke as well.

Ineos’ $420 million term loan B was quoted at 99 5/8 bid, 100 3/8 offered on the break, and then it moved up to 100¼ bid, 100 7/8 offered, a source remarked.

Golden Nugget’s $457.6 million term loan debt was quoted at par bid, 100½ offered, a market source said.

Also in trading, Michaels Stores Inc.’s term loan B-1 and term loan B-2 softened after investors were told that the company would be launching a transaction to extend the maturities of the debt and fold them into a single term loan tranche.

Returning to the primary market, Intellectual Property & Science (IP&S) (Camelot Finance LP) upsized its first-lien term loan and lowered pricing, and Smart & Final Stores LLC increased the size of its term loan B.

In addition, HD Supply Inc. added a step-down to its incremental term loan B, and Avantor Performance Materials and Camping World Good Sam moved up the commitment deadlines on their loan deals.

Furthermore, Press Ganey Inc., inVentiv Health Inc. and Beasley Broadcast Group Inc. disclosed price talk with launch, and American Builders & Contractors Supply Co. Inc. and Bioclinica joined the near-term new issue calendar.

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