SAI, Eastern Power break; Axalta, American, Montreign, RE/MAX, Intermedia, Priority revised

By Sara Rosenberg

New York, Dec. 7 – Deals from SAI Global and Eastern Power LLC (TPF II Power LLC) made their way into the secondary market on Wednesday, and Alere Inc.’s term loan softened following news that Abbott Laboratories filed a complaint to terminate its proposed acquisition of Alere but then the debt rebounded to end the day unchanged.

Over in the primary market, Axalta Coating Systems reduced its U.S. term loan B size, increased its euro term loan B size, lowered pricing on the euro tranche and tightened the issue price on both the U.S. and the euro pieces, and American Airlines Inc. revised size and original issue discount on its term loan B.

Also, Montreign Operating Co. LLC upsized its term loan B and firmed the spread at the midpoint of guidance and added a term loan A to its capital structure, and RE/MAX LLC reduced pricing on its term loan, set the issue price at the tight side of talk and extended the call protection.

In addition, Intermedia.net Inc. and Priority Payment Systems (Priority Holdings LLC) lifted spreads on their first-lien term loans, and RCN Grande (Radiate Holdco LLC) and Oberthur Technologies Group SAS accelerated the commitment deadlines on their loans deals.

Furthermore, Rackspace Hosting Inc., Virgin Media, Global Eagle Entertainment Inc., MediaOcean LLC and Equinix Inc. disclosed price talk with launch, and LegalShield (Pre-Paid Legal Services Inc.) surfaced with new deal plans.

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