Asurion term loans rise; Greatbatch, FullBeauty, SiteOne, Technicolor price talk surfaces

By Sara Rosenberg

New York, Sept. 22 – Asurion LLC’s term loan B-1 was stronger in trading on Tuesday as talk of an upcoming lender call hit the market and some buyers started to fill in following about two weeks of selling pressure.

Moving to the primary market, Greatbatch Ltd., FullBeauty Brands, SiteOne Holding LLC (renamed from JDA Holding LLC) and Technicolor released price talk on their new loan deals with launch, and Sirius Computer Solutions Inc. and DigiCert joined this week’s calendar.

Asurion’s term loans rose in the secondary market on Tuesday as buyers surfaced with investors getting more comfortable with trading levels after about two weeks of pressure, and lenders were told that the company would be hosting a lender call on Thursday, according to traders.

The term loan B-1 was quoted by one trader at 94 bid, 95½ offered, up around half a point on the day.

A second trader had the B-1 quoted at 95 bid, 96 offered, up from 94 bid, 95 offered, and the B-4 loan quoted at 94½ bid, 95½ offered, up from 92¾ bid, 93¾ offered.

The debt started to come under attack earlier this month when Apple announced a new plan to directly finance iPhone purchases so consumers don’t have to go through wireless carriers, which in turn caused lenders to panic that this would adversely affect Asurion’s business.

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