Autoparts, Syncsort, Minimax Viking break; Global Eagle Entertainment changes surface

By Sara Rosenberg

New York, Dec. 21 – Autoparts Holdings (Fram Group Holdings Inc.) finalized the spread on its first-lien term loan at the wide end of talk and then freed up for trading on Wednesday, and Syncsort Inc. and Minimax Viking broke as well.

Autoparts set pricing on its $215 million five-year first-lien term loan at Libor plus 675 basis points, the high end of the Libor plus 650 bps to 675 bps talk, and left the 1% Libor floor, original issue discount of 98 and 101 soft call protection for one year unchanged, according to a market source.

With final terms in place, the term loan made its way into the secondary market on Wednesday, and levels were quoted at 98½ bid, 99½ offered, the source said.

Syncsort’s $290 million six-year first-lien term loan (B2/B+) was seen at 99 bid, par offered, and the $65 million seven-year second-lien term loan (Caa2/CCC+) was seen at 98½ bid, 100½ offered, a trader said.

Minimax Viking’s $357.8 million term loan B was quoted at 100¾ bid, 101¼ offered, a trader remarked.

Also during the session, Global Eagle Entertainment Inc. increased the size of its first-lien term loan, widened the spread as well as the original issue discount, sweetened the call protection and eliminated plans for a second-lien term loan.

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