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American Casino frees to trade; Protection 1, Zep, Media General deal updates surface
By Sara Rosenberg
New York, June 18 – American Casino & Entertainment Properties LLC’s credit facility broke for trading on Thursday, with the $295 million first-lien term loan quoted above its original issue discount that came at the tight end of guidance.
Over in the primary, Protection 1 (Apollo Security Services Borrower LLC) moved some funds between its first-and second-lien term loans and changed the original issue discount to 99.5 from 99.
Zep Inc. trimmed pricing on its $360 million seven-year term loan B to Libor plus 475 basis points from Libor plus 500 bps and changed the original issue discount to 99.5 from 99.
Media General Inc. finalized the spread on its repriced term loan B at Libor plus 300 bps, the high end of guidance.
Also, Belcan Corp. (Propulsion Acquisition LLC) and Univar Inc. released price talk with launch, and Summit Materials LLC and Hamilton Lane Advisors LLC joined the near-term primary calendar.
Finally, Alere Inc. completed its $1.95 billion credit facility, which is comprised on a $250 million five-year revolver, a $650 million five-year term loan A and a $1.05 billion seven-year covenant-light term loan B. During syndication the term loan B was downsized from $1.1 billion, while the term loan A was upsized from $600 million.
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