HD Supply, Amaya Gaming Group term loans free to trade; Alion Science revisions surface

By Sara Rosenberg

New York, Aug. 7 – HD Supply Inc.’s $850 million senior secured six-year covenant-light term loan B (B1/BB-) made its way into the secondary market on Friday, and Amaya Gaming Group Inc.’s add-on term loan began trading as well.

Levels on HD Supply’s term loan were seen by one trader at 99 5/8 bid, par offered, and by a second trader at 99½ bid, 99¾ offered.

Pricing on the term loan is Libor plus 275 basis points with a 1% Libor floor, and it was sold at an original issue discount of 99.5. There is 101 soft call protection for six months.

During syndication, the spread on the term loan was reduced from Libor plus 300 bps.

Moving to the primary market, Alion Science & Technology Corp. (Dysart Merger Sub Inc.) lowered pricing on its $300 million six-year term loan (B1) to Libor plus 450 bps from talk of Libor plus 500 bps to 550 bps, modified the original issue discount to 99.5 from 99 and shortened the 101 soft call protection to six months from one year, according to a market source.

The term loan still has a 1% Libor floor.

Commitments were due on Friday, the source added.

Additionally, SRS Distribution Inc. released price talk on its in-market term loan, and JBS USA LLC and Delta Air Lines Inc. joined the near-term new issue 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.