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Energy Transfer Equity falls with CFO news; MedRisk, Caliber Collision price talk emerges
By Sara Rosenberg
New York, Feb. 8 – Energy Transfer Equity LP’s term loan B and term loan C headed lower in the secondary market during Monday’s session following news that the company is replacing its chief financial officer.
One trader had Energy Transfer Equity’s term loan B quoted at 74 bid, 77 offered, down from 76¾ bid, 78¾ offered on Friday, and the term loan C quoted at 76 bid, 79 offered, down from 79½ bid, 81 offered.
A second trader, meanwhile, had the term loan B quoted at 74 bid, 77 offered, down from 77 bid, 79 offered, and the term loan C quoted at 76 bid, 79 offered, down from 80 bid, 81 offered.
Over in the primary market, MedRisk LLC disclosed guidance on its credit facility with launch, Caliber Collision released price talk on its in-market add-on term loan, and GCA Services Group Inc. joined this week’s new issue calendar.
MedRisk launched its $25 million five-year revolver and a $202.5 million seven-year term loan with price talk of Libor plus 500 basis points and an original issue discount of 99.
Caliber Collision came out with price talk of Libor plus 475 bps with a leveraged-based step-up to Libor plus 500 bps, a 1% Libor floor and an original issue discount of 99 on its $111 million add-on term loan due November 2019.
GCA Services Group set a bank meeting for Wednesday to launch $615 million credit facility, market sources said.
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