Firth Rixson up on buyout; Landmark, Husky break; primary sees a number of deal changes

By Sara Rosenberg

New York, June 26 – Firth Rixson Ltd.’s U.S. term loan was stronger in the secondary market on Thursday following news that the company is being purchased by Alcoa, and Husky International Ltd. and Landmark Aviation freed up for trading.

Switching to the primary market, Mauser Holdings reduced its U.S. first-lien term loan size in favor of more euro first-lien term loan debt, trimmed its second-lien term loan amount, updated spreads on all of the tranches and tightened first-lien offer prices.

Also, Internet Brands Inc. increased the size of its first-lien term loan while cutting the spread and extending the call protection, and decreased the size of its second-lien term loan, and Winebow Group LLC lowered pricing on its first-lien term loan, set the spread on its second-lien loan at the low end of guidance and tightened the original issue discount on both tranches.

Furthermore, GST AutoLeather Inc. widened pricing on its term loan B and sweetened the call premium, Ascend Learning modified the offer price on its add-on first-lien term loan, 4L Technologies Inc. accelerated its commitment deadline, Amsurg Corp. disclosed timing on the launch of its credit facility, and structure and timing surfaced on Advantage Sales & Marketing LLC’s buyout deal.

Firth Rixson’s U.S. term loan was quoted at par bid, par ½ offered, up from 99 1/8 bid, 99 5/8 offered, the source said.

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