TI Auto, VeriFone, Confie Seguros break; AmSurg, TeamViewer, Novitex tweak deals

By Sara Rosenberg

New York, July 1 – TI Automotive Ltd.’s term loan B made its way into the secondary market on Tuesday and traded above its original issue discount price, VeriFone Inc. and Confie Seguros freed up, and Healogics Inc. saw levels surface on its first-and second-lien debt.

Moving to the primary, AmSurg Corp. trimmed the size of its term loan B due to an increase to its bond amount, and TeamViewer upsized its U.S. first-lien term loan, widened spreads and the original issue discounts on all of its term loans while sweetening the call protection on its second-lien tranche.

Also, Novitex Acquisition LLC (Pitney Bowes Management Services) decreased the size of its first-lien term loan while lifting pricing, setting the offer price at the wide end of guidance and extending the call protection, and the company also upsized its second-lien term loan, while Academi Holdings LLC downsized its first-lien term loan as pricing flexed higher and added a second-lien term loan tranche.

TI Automotive’s $1.25 billion term loan B broke for trading on Tuesday, with levels quoted at 99 7/8 bid, par 3/8 offered, according to a trader.

The term loan B is priced at Libor plus 325 basis points with a 1% Libor floor and an original issue discount of 99˝. There is 101 soft call protection for one year.

Recently, pricing on the loan was reduced from talk of Libor plus 350 bps to 375 bps.

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