BWAY, Terex, National Veterinary break; Albertson’s, International Market, Bowlmor revised

By Sara Rosenberg

New York, Aug. 8 – BWAY Holding Co. increased the size of its term loan B while widening the spread and original issue discount and then freed up for trading on Friday, and Terex Corp. and National Veterinary Associates (NVA Holdings Inc.) made their way into the secondary market, too.

In more loan happenings, Albertson’s Holdings LLC (Safeway Acquisition Merger Sub Inc.) moved some funds between its term loans, set spreads at the high end of revised talk, modified offer prices and sweetened call premiums.

Also, International Market Centers LP (IMC OP LP) raised pricing on its term loans and updated offer prices, and Bowlmor AMF Corp. lifted the spread on its term loan, reworked the original issue discount and extended the call protection.

In addition, HCP Global Ltd. and QSR (QSRH Borrowing Co. Pty. Ltd. and US Finco LLC) withdrew their credit facilities from market, and Media General Inc. launched an add-on term loan.

BWAY upsized its six-year term loan B to $1.22 billion from $1.1 billion, increased pricing to Libor plus 450 basis points from Libor plus 425 bps and modified the original issue discount to 99 from 99½, according to a market source.

The term loan B still has a 1% Libor floor and 101 soft call protection for one year.

With final terms in place, the loan broke for trading on Friday, with levels seen at 99¼ bid, 99 5/8 offered on the open and then it moved up to 99½ bid, 99 7/8 offered, a trader remarked.

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