Filtration Group frees up; CGG revised; Alliant, AlixPartners, Quality Distribution set talk

By Sara Rosenberg

New York, July 15 – Filtration Group Corp.’s add-on first-lien term loan made its way into the secondary market on Wednesday, with levels quoted above its original issue discount.

Moving to the primary market, CGG Holding (U.S.) Inc. widened the spread and original issue discount on its term loan, while also adding a financial covenant and a springing maturity.

In more news, Alliant Insurance Services Inc. (Alliant Holdings I LP), AlixPartners LLP and Quality Distribution Inc. came out with price talk in connection with their bank meetings.

Alliant’s $1.54 billion senior secured credit facility includes a $200 million five-year revolver talked at Libor plus 375 basis points with leverage-based step-downs and no Libor floor and a $1.34 billion seven-year covenant-light term loan B talked at Libor plus 400 bps with a 1% Libor floor.

AlixPartners launched its $1.1 billion seven-year term loan with talk of Libor plus 375 bps with a 1% Libor floor.

And Quality Distribution disclosed price talk on its $400 million first-lien term loan at Libor plus 400 bps to 425 bps and on its $135 million second-lien term loan (Caa1/CCC) at Libor plus 825 bps to 850 bps, both with a 1% Libor floor.

Also, Sitel Worldwide Corp., Invenergy Thermal Operating I LLC, Cast & Crew Entertainment Services, Prolamina Corp./Ampac Holdings LLC (Intermediate Holdco (US)) and V. Group joined the near-term new issue calendar.

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