TGI Fridays, LA Fitness, New Albertson’s, Bayonne Energy, Akorn, World Triathlon break

By Sara Rosenberg

New York, June 24 – TGI Fridays Restaurants’ credit facility emerged in the secondary market on Tuesday with both the first- and second-lien term loans quoted above their original issue discounts, and LA Fitness International LLC, New Albertson’s Inc., Bayonne Energy Center LLC, Akorn Inc. and World Triathlon Corp. began trading as well.

Moving to the primary, Verdesian Life Sciences LLC widened the spread and original issue discount on its term loan B while also sweetening the call protection, amortization and excess cash flow sweep.

Also, Landmark Aviation lifted the size of its incremental first-lien term loan and tightened the offer price on its first- and second-lien tranches, and Creative Circle LLC revised spread and original issue discount on its second-lien loan and extended the call protection on its first-lien loan.

Additionally, American Energy – Marcellus LLC, QoLmeds/Genoa Healthcare and Ciena Corp. disclosed price talk with launch, and 4L Technologies Inc. released original issue discount guidance.

TGI Fridays’ credit facility freed up for trading on Tuesday, with the $440 million six-year first-lien term loan (B1/BB-) quoted on the open at 99 7/8 bid, par 3/8 offered and the $180 million seven-year second-lien term loan (Caa1/B-) quoted at 99 bid, par offered, according to one market source. Then, shortly after the break, another source saw the first-lien loan at par bid, par ½ offered and the second-lien loan at 99¼ bid, par ¼ offered.

© 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.