GCA Services first-lien term loan gains on buyout news; U.S. Renal Care revisions surface

By Sara Rosenberg

New York, Nov. 16 – GCA Services Group Inc.’s first-lien term loan headed higher in the secondary market on Monday following an announcement that the company is being acquired by Goldman Sachs and Thomas H. Lee Partners LP.

Post-news, the first-lien term loan was quoted at 99 5/8 bid, par offered, up from 99 bid on Friday, a trader said.

Also in trading, a roughly $271 million Bid Wanted In Competition emerged with bids from market players due at noon ET on Wednesday, a trader remarked.

Switching to the primary market, U.S. Renal Care Inc. finalized pricing on its first-lien term loan at the wide end of guidance, extended first-lien call protection and revised some documentation items, and Cable & Wireless Communications plc, Access CIG LLC and US LBM Holdings LLC emerged with new deal plans.

Cable & Wireless Communications surfaced with plans to hold a lender call on Tuesday to launch $800 million of seven-year term loan debt, split between a $440 million term loan B-1 and a $360 million term loan B-2, a source remarked.

Access CIG set a lender call for 11:30 a.m. ET on Tuesday to launch a $60 million add-on first-lien covenant-light term loan due October 2021.

US LBM scheduled a lender call for 10 a.m. ET on Tuesday to launch a $50 million tack-on first-lien term loan, according to a market source.

© 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.