Promontory frees up; Granite Energy, Simply Good changes emerge; Genesee accelerated

By Sara Rosenberg

New York, Oct. 31 – Promontory Interfinancial Network LLC’s first-lien term loan made its way into the secondary market on Thursday with levels quoted above its original issue discount.

Specifically, the $630 million seven-year covenant-lite first-lien term loan freed to trade first thing in the morning, with levels quoted at par bid, par ½ offered.

Pricing on the first-lien term loan is Libor plus 375 basis points with a 0% Libor floor and it was sold at an original issue discount of 99.5. The debt has 101 soft call protection for six months.

Moving to the primary market, Granite Energy LLC set pricing on its $1.4 billion seven-year first-lien term loan B at Libor plus 375 bps, the high end of the Libor plus 350 bps to 375 bps talk, and modified the Libor floor to 1% from 0%.

Also, Simply Good Foods Co. (Atkins Nutritional Holdings Inc.) trimmed pricing on its incremental first-lien term loan B, tightened the original issue discount, extended the call protection and made the tranche fungible with the existing term loan B.

In addition, Genesee & Wyoming Inc. moved up the commitment deadline for its credit facilities, TransUnion LLC, TRC Cos. Inc. and Tacala Cos. released price talk with launch, and Houghton Mifflin Harcourt surfaced with new deal plans.

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