NEW Asurion, Trader, Truck Hero, Oasis break; Valeant gains; SolarWinds, WaveDision tweaked

By Sara Rosenberg

New York, Aug. 10 – In the secondary market on Wednesday, deals from NEW Asurion Corp., Trader Corp., Truck Hero Inc. and Oasis Outsourcing Holdings Inc. freed to trade.

NEW Asurion’s $550 million five-year HoldCo unsecured PIK contingent covenant-light term loan (Caa1/CCC+) broke for trading on Wednesday, with levels quoted at 101 bid, 102 offered, according to a trader.

Trader Corp.’s C$510 million seven-year first-lien term loan B (B2/B) was quoted at 99¾ bid, 100½ offered, a trader remarked.

Truck Hero’s $525 million seven-year term loan B (B2/B) also emerged in the secondary market, with levels quoted at 99½ bid, par offered, according to a trader.

Oasis Outsourcing’s fungible $75 million incremental first-lien term loan due Dec. 31, 2021 began trading as well, with levels seen at par bid, 100½ offered, a trader remarked.

Also in trading, Valeant Pharmaceuticals International Inc.’s term loans gained a bit more ground as details on the company’s amendment proposal were announced in connection with a lender call taking place during the session, traders remarked.

And, over in the primary market, SolarWinds Inc. increased the size of its U.S. term loan B and cancelled plans for a euro term loan B, WaveDivision Holdings LLC tightened the original issue discount on its add-on first-lien term loan, and Eastern Power LLC and Builders FirstSource Inc. brought repricing transactions to market.

© 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.