Charter term G dips with acquisition worries; DJO Finance, Horizon Pharma changes emerge

By Sara Rosenberg

New York, April 23 – Charter Communications Operating LLC’s term loan G softened in the secondary market on Thursday as a result of potential roadblocks to its transaction with Comcast Corp.

Over in the primary, DJO Finance LLC increased the size of its first-lien term loan and reduced pricing on the funded and delayed-draw debt, and Horizon Pharma plc lowered the size of its term loan and tightened the spread and the original issue discount.

Also, RadNet Inc., Flying Fortress Inc. and Metaldyne Performance Group Inc. released talk with launch, and Prestige Brands Inc., Sterigenics International Inc., Black Knight InfoServ LLC, Victory Capital Management and Delachaux joined the near-term calendar.

Charter Communications’ term loan G fell to 100¼ bid, 100 5/8 offered from 100 5/8 bid, 101 1/8 offered on chatter that the Federal Communications Commission is suggesting that a hearing be held regarding the merger of Comcast and Time Warner Cable, according to a trader.

Moving to the primary market, DJO Finance lifted its funded first-lien term loan (Ba3) due June 2020 to $1,035,000,000 from $1,005,000,000 and cut pricing on the funded tranche, as well as on a $20 million delayed-draw term loan (Ba3) due June 2020, to Libor plus 325 basis points from talk of Libor plus 350 bps to 375 bps, according to a market source.

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