Vantiv, Henniges break; Alstom, Gates Global, Hillman, American Tire revisions surface

By Sara Rosenberg

New York, June 11 – Vantiv Inc.’s term loan B made its way into the secondary market on Wednesday, with the debt seen trading above its original issue discount price, and Henniges Automotive Holdings Inc.’s credit facility began trading as well.

Over in the primary, Alstom Auxiliary Components increased the spread on its first-lien term loan, Gates Global LLC reduced pricing on its U.S. and euro term loans, Hillman Group Inc. reduced the size of its term loan B, tightened the spread and original issue discount, added a leverage-based step-down and shortened the call protection, and American Tire Distributors Inc. revised the offer price on its loan.

Also, Healogics Inc., New Albertson’s Inc., Internet Brands, Liberty Cablevision of Puerto Rico LLC, Spencer Spirit Holdings Inc. and World Triathlon Corp. released talk with launch, and Equinox Holdings Inc. disclosed original issue discount guidance on its loan.

In addition, timing and structure surfaced on Wencor Group LLC’s (Jazz Acquisition Inc.) buyout deal, and TeamViewer joined next week’s calendar.

Vantiv’s $1.4 billion seven-year term loan B freed up on Wednesday, with one trader quoting the debt at par ¼ bid, par ¾ offered.

Pricing on the loan is Libor plus 300 basis points with a step-down to Libor plus 275 bps at 3.75 times leverage. There is a 0.75% Libor floor and 101 soft call protection for six months, and the debt was sold at an original issue discount of 99½.

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