Dollar Tree, Acadia Healthcare, US Farathane break; Citgo, AssuredPartners changes emerge

By Sara Rosenberg

New York, Feb. 6 – Dollar Tree Inc.’s credit facility made its way into the secondary market on Friday, with its term loan B quoted above its original issue discount, and Acadia Healthcare Co. Inc. and US Farathane Corp. began trading as well.

Moving to the primary, Citgo Holding Inc. widened the spread on its term loan for a second time and shortened the maturity, and AssuredPartners Capital Inc. upsized its incremental term loan, increased pricing, tightened the original issue discount and made the debt fungible with the existing loan.

Also, Waste Industries USA Inc. and Arctic Glacier LLC launched their deals to investors, PetSmart Inc. revealed timing on the bank meeting for its credit facility and Constantia Flexibles is getting ready to bring its new loan to market.

Dollar Tree’s credit facility broke for trading on Friday, with the $3.95 billion seven-year term loan B quoted by one trader at par ½ bid, par ¾ offered and by a second trader at par 3/8 bid, par 5/8 offered.

Pricing on the term loan B is Libor plus 350 basis points with a 0.75% Libor floor, and it was sold at an original issue discount of 99½. There is 101 soft call protection for one year.

The company’s $6.2 billion credit facility also includes a $1.25 billion five-year revolver and a $1 billion five-year term loan A, both priced at Libor plus 225 bps.

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