WASH, ConvergeOne break; TTM Technologies, Leighton, Cinemark deal revisions surface

By Sara Rosenberg

New York, May 4 – WASH Multifamily Laundry Systems LLC’s credit facility hit the secondary market on Monday, with the first- and second-lien term loans quoted above their original issue discounts, and ConvergeOne Holdings Corp. freed up as well.

WASH’s credit facility broke for trading, with the $505 million seven-year first-lien covenant-light term loan B quoted at par ½ bid, 101 offered and the $120 million eight-year second-lien covenant-light term loan quoted at par ½ bid, 101½ offered, according to a trader.

ConvergeOne’s $50 million tack-on first-lien term loan due June 2020 began trading too, with levels quoted at par bid, par ¾ offered, a trader said.

Switching to the primary market, TTM Technologies Inc. moved some funds between its first- and second-lien term loans while tightening the original issue discount and extending the call protection on the first-lien debt, and Leighton Services (LS Deco LLC) trimmed pricing on its U.S. and Australian term loans.

Also, Cinemark USA Inc. lowered the upfront fee on its term loan B maturity extension request, Learning Care Group and PSAV Presentation Services released talk with launch, and Physio-Control International Inc., Horizon Global Corp. and JBS USA LLC joined this week’s calendar.

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