LightSquared, Goodyear, U.S. Shipping, Mauser, Survey Sampling break; Academy, MRI revised

By Sara Rosenberg

New York, June 15 – LightSquared’s first-lien term loan emerged in the secondary market on Monday, with levels quoted above its original issue discount, and Goodyear Tire & Rubber Co., U.S. Shipping Corp., Mauser Group and Survey Sampling International LLC freed up as well.

LightSquared’s $1.5 billion five-year first-lien term loan started trading on Monday, with levels quoted at 97½ bid, 98 offered.

Goodyear’s repriced $1 billion covenant-light second-lien term loan due April 2019 also broke, with levels quoted at 100¼ bid, 100¾ offered.

U.S. Shipping’s $220 million six-year first-lien term loan B was seen at 99¾ bid, 100¼ offered.

Mauser’s term debt freed up as well, with the $102 million add-on first-lien covenant-light term loan due 2021 seen at 99½ bid, par offered, and the amended covenant-light second-lien term loan due 2022 seen at 99 bid, par offered.

Switching to the primary market, Academy Ltd. (Academy Sports + Outdoors) increased pricing on its term loan B and extended the soft call protection, MRI Software LLC modified the original issue discount on its first-lien term loan, and American Casino & Entertainment Properties LLC accelerated the commitment deadline on its deal.

In addition, Jeld-Wen Inc. and TI Automotive Ltd. revealed price talk with launch, and First Advantage (STG-Fairway Acquisitions Inc.), Bluestem Brands Inc., Amneal Pharmaceuticals LLC, Liberty Tire Recycling, Constantia Flexibles and AgroFresh joined this week’s primary calendar.

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