Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Ocwen Financial Corp. > News item |
Hargray Communications breaks; Ocwen, Walter Investment improve; DTZ flexes higher
By Sara Rosenberg
New York, Oct. 23 – Hargray Communications’ term loan hit the secondary market on Thursday, and Ocwen Financial Corp. and Walter Investment Management Corp. both saw their term loans gain back some of their recent losses that resulted from an investigation into Ocwen’s dating of letters to mortgage borrowers.
Switching to the primary, DTZ (DTZ U.S. Borrower LLC and DTZ Aus HoldCo Pty Ltd.) widened spreads and original issue discounts on its first-and second-lien term loans.
Furthermore, TransFirst Inc., AMAG Pharmaceuticals Inc., Block Communications Inc. and Emcore Photovoltaics disclosed price talk with launch, Ability Network Inc. released original issue discounts on its incremental loans, and Media General Inc. and Novetta Solutions joined the near-term calendar.
Hargray Communications’ fungible $53 million first-lien tack-on term loan due June 2019 broke for trading on Thursday, with levels quoted at 99˝ bid, par ˝ offered, according to a trader.
Pricing on the tack-on term loan is Libor plus 425 basis points with a 1% Libor floor and it was sold at an original issue discount of 99. There is 101 soft call protection for one year.
With the tack-on, the company is lifting pricing on its existing $301 million first-lien term loan to Libor plus 425 bps with a 1% Libor floor from Libor plus 375 bps with a 1% Libor floor, and the existing term loan is getting the same 101 soft call protection for one year.
Credit Suisse Securities (USA) LLC is leading the deal.
© 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.