Gigamon, CenseoHealth/Advance Health, Royal Oak free to trade; Go Wireless changes surface

By Sara Rosenberg

New York, Dec. 19 – A few deals surfaced in the second market during Tuesday’s session, including Gigamon Inc., CenseoHealth/Advance Health (Chloe Ox Parent LLC) and Royal Oak Enterprises LLC (Ozark Holdings LLC).

Moving to the primary market, Go Wireless decreased the size of its senior secured term loan and officially increased the spread.

Gigamon’s credit facilities freed up in the morning, with the $400 million seven-year covenant-light first-lien term loan (B2/B/BB-) quoted at 99½ bid, par ½ offered and the $150 million privately placed eight-year second-lien term loan (Caa2/CCC/CCC+) quoted at 99 bid, 101 offered, according to a trader.

Pricing on the first-lien term loan is Libor plus 450 basis points with a 1% Libor floor, and it was sold at an original issue discount of 99. The debt has 101 soft call protection for six months.

The second-lien term loan is priced at Libor plus 850 bps and was issued at a discount of 98.5.

CenseoHealth/Advance Health’s credit facilities also hit the secondary market, with the $260 million seven-year covenant-light first-lien term loan seen at par bid, par ¾ offered, a trader remarked.

Pricing on the term loan is Libor plus 500 bps with a 1% Libor floor, and it was sold at an original issue discount of 99.

Late last week, the spread on the term loan was reduced from Libor plus 525 bps.

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