Alere dips on subsidiary problems; Calpine breaks; DTZ updates deal; Bass extends deadline

By Sara Rosenberg

New York, Nov. 4 – Alere Inc.’s term loan fell in trading on Friday after the company revealed that one of its subsidiaries is having its Medicare enrollment revoked, Calpine Corp.’s term loan freed to trade, and levels on Infoblox Inc.’s second-lien term loan surfaced.

Alere’s term loan was quoted at 97 bid, 98½ offered, down from 99¼ bid, 99¾ offered, a source said.

Calpine’s $550 million 364-day senior secured covenant-light term loan was seen at 99¼ bid, 99¾ offered, according to a trader.

Infoblox’s $250 million eight-year covenant-light second-lien term loan (Caa1/CCC/CCC+) was quoted at 98 bid, 99 offered on Friday morning, after allocating late Thursday, a trader remarked.

Moving to the primary market, DTZ (DTZ U.S. Borrower LLC and DTZ AUS Holdco Pty Ltd.) finalized the original issue discount on its add-on first-lien term loan, and Bass Pro Group LLC extended the commitment deadline on its term loan B.

In addition, Genesys, Fantasy Springs Resort Casino (East Valley Tourist Development Authority), Conduent Inc. and Cheddar’s Scratch Kitchen joined the near-term new issue calendar.

In other news, ServiceMaster Global Holdings Inc.’s allocated its $1.95 billion credit facility that includes a $300 million revolver due 2019 and a $1.65 billion term loan B due 2023, a news release said.

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