Circor, Cast & Crew, Trade Me, HelpSystems deal updates surface; Grosvenor reveals talk

By Sara Rosenberg

New York, Feb. 21 – In the loan market on Friday, Circor International Inc. lifted pricing on its term loan B and added a step-down, and Cast & Crew Entertainment Services increased the size of its add-on first-lien term loan and modified the new money issue price.

Specifically, Circor raised pricing to Libor plus 325 basis points from talk in the range of Libor plus 275 bps to 300 bps and added a 25 bps step-down upon an upgrade of the corporate family rating to B1 from Moody’s.

Cast & Crew raised its fungible add-on first-lien term loan B to $175 million from $125 million and changed the issue price to par from 99.75. In addition, the issue price for the repricing of the company’s existing $759 million first-lien term loan B due Feb. 7, 2026 was adjusted to par for new money from 99.75. The issue price for existing money remained at par.

Also, Trade Me Group Ltd. (Titan Acquisitionco) set the spread on its first-lien term loan at the high end of guidance, and HelpSystems (HS Purchaser LLC) finalized the original issue discount on its incremental first-lien term loan at the tight end of talk.

In addition, Grosvenor Capital Management announced price talk with launch, and Duravant LLC (Engineered Machinery Holdings Inc.) and Alkermes Inc. joined the near-term primary calendar.

© 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.