Nord Anglia sets lender call; Anchor Glass firms tight-to-talk pricing; loans see inflows

By Paul A. Harris

Portland, Ore., Nov. 21 – Cash flows into the dedicated bank loan accounts continue to be robust as investors seek exposure to secured floating-rate debt, a trader said on Monday.

Against a backdrop of substantial daily and weekly outflows from fixed-rate high-yield bonds, loan funds saw $384 million of daily inflows on Friday. By comparison, the high-yield funds saw $497 of outflows on the day.

In the bank loan primary market Nord Anglia Education Inc. scheduled a lender call for 11 a.m. ET on Nov. 29 for an $888 million repricing of its term loan.

And Anchor Glass Container Corp. firmed tight-to-talk pricing on $800 million of term loans.

A $650 million seven-year first-lien term loan (B1/B) firmed at Libor plus 325 bps with no step down, with a 1% Libor floor, at 99.5.

A $150 million eight-year second-lien term loan (Caa1/CCC+) firmed at Libor plus 775 bps atop a 1% Libor floor at 99.

Vestcom International Inc. scheduled a meeting with lenders on the morning of Nov. 29 in New York for its $375 million credit facility, according to a market source.

CHG Healthcare Services Inc. firmed pricing on its $140 million add-on first-lien term loan at 99.5, according to a market source.

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