TransUnion upsized loan hits secondary; Amaya dips; Huntsman, Global Payments revise deals

By Sara Rosenberg

New York, March 23 – TransUnion LLC came to market with an incremental term loan B-2, upsized the offering and then freed up for trading on Wednesday afternoon, and Amaya Inc.’s first-lien term loan traded lower as news surfaced that the company’s chairman and chief executive officer is being charged with insider trading.

TransUnion went out to investors Wednesday morning with a $100 million incremental covenant-light term loan B-2 (BB-) due April 2021, and then upsized the loan to $150 million before allocating later in the day, according to a market source.

Commitments were due at 3 p.m. ET on Wednesday, and following the deadline, the incremental loan broke for trading with levels quoted at 99 bid, 99¾ offered, another source added.

Amaya’s first-lien term loan was quoted anywhere from 92½ to 93 bid, and 94½ to 95 offered, down from Tuesday’s levels in the 94½ to 95 bid area and 95 5/8 to 96¼ offered area, a source said.

In more happenings, Huntsman International LLC modified the original issue discount on its term loan B, added a springing maturity and moved up the commitment deadline, and Global Payments Inc. removed the Libor floor from its term loan B.

Furthermore, Atlantic Power LP (APLP Holdings LP) released price talk on its term loan B in connection with its bank meeting.

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