Vivid Seats, MedRisk emerge in secondary; Caliber Collision trades higher; Solera revised

By Sara Rosenberg

New York, Feb. 26 – Vivid Seats Ltd. ended up upsizing its first-lien term loan and widening the spread and original issue discount, and then, on Friday, the debt made its way into the secondary market above the revised issue price.

In more happenings, MedRisk Inc.’s credit facility freed up as well during the session, following a pricing increase on the term loan and a downsizing of the revolver, and Caliber Collision’s term loan strengthened from its recent breaking levels.

Furthermore, Solera Holdings Inc. upsized its term loan B, set pricing at the high end of guidance, widened the issue price and sweetened the call protection, and HCA Holdings Inc. surfaced with plans to bring a term loan B-6 to market during the week of Feb. 29.

Vivid Seats upsized its six-year first-lien term loan (B2/B+) to $253 million from $240 million, raised pricing to Libor plus 600 basis points from talk of Libor plus 550 bps to 575 bps and changed the original issue discount to 93 from 98 before wrapping syndication, according to a market source.

As before, the loan has a 1% Libor floor and 101 soft call protection for six months.

Do to all the revisions, the term loan was oversubscribed by the close of syndication, the source said.

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