Midcontinent Communications, CHG Healthcare break; Ocwen revises commitment deadline

By Sara Rosenberg

New York, Nov. 29 – Midcontinent Communications’ credit facility hit the secondary market on Tuesday, with the term loan B quoted above its original issue discount, and CHG Healthcare Services Inc.’s add-on first-lien term loan freed up for trading too.

Midcontinent Communications’ $285 million seven-year term loan B was quoted at par bid, 100½ offered on the break, and then it moved up to 100¼ bid, 100¾ offered, a market source said.

CHG Healthcare Services’ $140 million add-on first-lien term loan also broke, with levels quoted at 100¼ bid, 100¾ offered, according to a trader.

Over in the primary market, Ocwen Financial Corp. accelerated the commitment deadline on its term loan B, and RCN Grande (Radiate Holdco LLC), Zodiac Pool Solutions SAS, AdvancePierre Foods Holdings Inc., Masergy Communications, Vestcom International Inc., ContextMedia and BWAY Holding Co. disclosed price talk with launch.

Also, Wilsonart LLC, Axalta Coating Systems, Aptean Inc., Cinemark USA Inc., Quikrete Co., Eastern Power LLC (TPF II Power LLC), Mister Car Wash, Signode Industrial, Casa Systems and American Airlines Inc. emerged with new deal plans.

In other news, TricorBraun allocated its $735 million credit facility (B2/B) that includes a $75 million revolver, a $600 million covenant-light term loan and a $60 million delayed-draw term loan, a market source said.

© 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.