Sonneborn, American Bath break; Royal Adhesives, Alere, U.S. Shopping revisions emerge

By Sara Rosenberg

New York, June 10 – Sonneborn LLC and American Bath Group saw their deals hit the secondary market on Wednesday, and Green Plains Processing LLC’s recently allocated add-on term loan headed higher in trading.

Over in the primary market, Royal Adhesives & Sealants LLC moved some funds between its first- and second-lien term loans, lowered pricing on the tranches and tightened the original issue discount on the second-lien debt.

Also, Alere Inc. revised its term loan A and term loan B sizes and updated pricing and issue price on the B tranche, and U.S. Shipping Corp. upsized its first-lien term loan B while tightening the spread and original issue discount, and downsizing its second-lien term loan.

Furthermore, Cirque du Soleil revealed price talk with launch, and Jeld-Wen Inc., AmeriLife Group, Spencer Spirit, TI Automotive Ltd. and Too Faced Cosmetics Inc. joined the near-term primary calendar.

Finally, the purchase of Life Time Fitness Inc. (LTF Merger Sub Inc.) by Leonard Green & Partners and TPG closed on Wednesday.

To help fund the buyout, Life Time Fitness arranged for a new $1.5 billion credit facility consisting of a $250 million revolver and a $1.25 billion seven-year covenant-light term loan B.

© 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.