Solar Winds, Neustar set talk; Aecom upsizes; PSAV tightens

By Paul A. Harris

Portland, Ore., Feb. 22 – The cash flows of the dedicated bank loan funds have generally returned to the green, according to a bank loan trader who added that the funds were basically flat on Wednesday, with inflows of $10 million on the day.

As the market awaited the weekly report on the cash flows of the fund from Lipper US Fund Flows, the expectation was for weekly inflows of $115 million, the source said.

Flows had been mixed earlier in the month, mainly because of selling in the high-yield market causing some managers to have to raise cash.

In some cases, in order to achieve that managers had to relinquish higher quality assets such as bank loans, the trader said.

In Thursday's primary market SolarWinds Inc. disclosed price talk on its $1.93 billion first-lien term loan due February 2024.

Neustar Inc. set talk for a $1.23 billion credit facility in two term loan B tranches.

And PSAV increased its seven-year first-lien term loan to $1,105,000,000 from $1.03 billion and decreased its 7.5-year second-lien term loan to $210 million from $285 million, and tightened talk.

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