Energy & Exploration breaks; Ipreo adjusts loan size, pricing; Meritas moves deadline

By Sara Rosenberg

New York, July 15 – Energy & Exploration Partners LLC’s term loan B made its way into the secondary market on Tuesday with levels quoted right around the original issue discount.

Switching to the primary, Ipreo Holdings LLC increased the size of its term loan B while tightening the spread and original issue discount, and Meritas School Holdings LLC moved up the commitment deadline on its second-lien term loan.

Also, Endemol Holdings NewCo, Mallinckrodt International Finance SA, inVentiv Health Inc., Orbotech Ltd., United Site Services Inc. (USS Parent Holding Corp.) and Capsugel FinanceCo SCA released pricing guidance with launch.

Furthermore, Sterigenics International LLC (STHI Holding Corp.) timing and price talk surfaced, and Formula One Group (Delta 2 (Lux) S.a.r.l), Houston Fuel Oil Terminal Co. (formerly Buffalo Gulf Coast Terminals LLC) and U.S. Shipping Corp. emerged with new deal plans.

Energy & Exploration’s $775 million 4˝-year senior secured term loan B began trading on Tuesday, with levels quoted at 98˝ bid, 99˝ offered, according to a trader.

Pricing on the loan is Libor plus 675 basis points with a 1% Libor floor and it was sold at an original issue discount of 98˝ after widening the other day from 99. There is hard call protection of 102 in year one and 101 in year two.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Global Hunter Securities are leading the deal.

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