Sensis, Service King break; Platform, Mannington Mills revised; TPF, Mister Car up deadlines

By Sara Rosenberg

New York, Sept. 19 – Sensis raised the size of its term loan and began trading on Friday above its original issue discount price, and Service King Collision Repair Centers also hit the secondary following some modifications.

In more happenings, Platform Specialty Products Corp. (MacDermid Inc.) modified the offer price on its add-on term loan, Mannington Mills lifted the spread on its term loan and extended the call protection, and TPF II and Mister Car Wash accelerated the commitment deadlines on their credit facilities.

Sensis increased its five-year term loan (B2/B) to $450 million from $400 million, while leaving pricing at Libor plus 700 basis points with a 1% Libor floor and an original issue discount of 99 and keeping the 101 soft call protection for one year intact, according to a market source.

Following the size change, the term loan made its way into the secondary market, with levels seen at par 1/8 bid, par 5/8 offered, a trader remarked.

Bank of America Merrill Lynch, Macquarie Capital and Credit Suisse Securities (USA) LLC are leading the deal that will be used to refinance existing debt and fund a dividend.

Service King Collision Repair Centers set pricing on its $355 million covenant-light term loan B and $40 million covenant-light delayed-draw term loan at Libor plus 375 bps, the low end of the Libor plus 375 bps to 400 bps talk.

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