Sucampo breaks; Valeant dips on numbers; Electronic Funds rises; Weight Watchers skyrockets

By Sara Rosenberg

New York, Oct. 19 – Sucampo Pharmaceuticals Inc.’s term loan B began trading on Monday, with levels quoted above its original issue discount, and Valeant Pharmaceuticals International Inc.’s term loans C, D and E moved lower with the release of quarterly numbers.

Sucampo’s $250 million senior secured term loan B (B3/B) was quoted at 97¼ bid, 97¾ offered, according to a trader.

Valeant Pharmaceuticals’ term loan C and D were quoted at 97 3/8 bid, 97 5/8 offered, down from 97 5/8 bid, 98 1/8 offered, and the term loan E was quoted at 97 3/8 bid, 97 5/8 offered, down from 97½ bid, 98 offered, a trader said. The company’s term loan F was seen at 97 7/8 bid, 98 1/8 offered, relatively unchanged from Friday’s levels of 97 7/8 bid, 98 3/8 offered.

Also in the secondary market, Electronic Funds Source LLC’s term loans were stronger as the company revealed that it is being acquired by WEX Inc. and Weight Watchers International Inc.’s term loans headed higher with news of an equity investment by Oprah Winfrey.

Moving to the primary market, Concordia Healthcare Corp. set pricing on its U.S. and sterling term loans at the high end of guidance, widened original issue discount talk on the tranches and extended the call protection, Raycom TV upsized its add-on term loans, and American Commercial Lines Inc. released details on its debt financing with launch.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.