Imagine! Print breaks; Valeant partially rebounds; ON Semiconductor changes surface

By Sara Rosenberg

New York, March 16 – Imagine! Print Solutions LLC’s credit facility emerged in the secondary market on Wednesday, with the term loan B quoted above its original issue discount, and Valeant Pharmaceuticals International Inc.’s term loans improved a bit from recent losses.

Imagine! Print Solutions’ credit facility began trading on Wednesday, with the $325 million six-year term loan B quoted at 99½ bid, 100¼ offered, according to a trader.

Valeant Pharmaceuticals’ term loans regained some of the losses they experienced during the previous session as the secondary market in general was a little better, sources remarked.

The term loan E was quoted at 93½ bid, 94 offered, up from 92 bid, 92¾ offered, the term loan F was quoted at 93½ bid, 94 offered, up from 92¼ bid, 93 offered, and the C and D term loans were quoted at 94½ bid, 95 offered, up from 92½ bid, 93½ offered, one trader said.

The loans had dropped on Tuesday after the company released preliminary unaudited fourth quarter numbers, and cut guidance for the first quarter of 2016 and full-year 2016.

Meanwhile, in the primary market, ON Semiconductor Corp. raised the size of its term loan B, modified the original issue discount and extended the call protection, and Sensus USA Inc. came out with price talk on its term loan in connection with its bank meeting.

© 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.