Rhode Island State Energy breaks; Petco rises with buyout news; Hawaiian Telcom pulls deal

By Sara Rosenberg

New York, Nov. 23 – Rhode Island State Energy Center LP’s credit facility freed up for trading during Monday’s session, and Petco Animal Supplies Inc.’s term loan gained some ground following news that the company is being acquired by CVC Capital Partners and Canada Pension Plan Investment Board.

Rhode Island State Energy Center’s $325 million seven-year term loan B was quoted at 99½ bid, par offered, according to a trader.

Petco’s term loan was quoted at 99 7/8 bid, 100 1/8 offered, up from 99½ bid, par offered, the trader said.

Lannett Co. Inc.’s $275 million five-year term loan A was quoted at 93 bid, 94 offered and its $635 million seven-year term loan B was quoted at 91 bid, 92 offered, in line with where the debt broke for trading late in the day Friday, a trader said.

Moving to the primary, Hawaiian Telcom withdrew its term loan B from market due to unreceptive market conditions, and ViaWest Inc. came out with price talk on its add-on term loan in connection with its lender call.

ViaWest launched its $170 million add-on term loan B with talk of Libor plus 350 bps with a 1% Libor floor, an original issue discount of 99 and 101 soft call protection for six months, a market source said.

Commitments are due on Dec. 8, the source added.

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