LifeMiles term loan B rises with earnings; Sabre holds at post-downgrade lower levels

By Sara Rosenberg

New York, May 12 – LifeMiles Ltd.’s first-lien term loan B headed higher in the secondary market on Friday as the company released earnings results to lenders that were viewed positively.

LifeMiles’ first-lien term loan B moved up to 95¾ bid, 97¾ offered on Friday from 94 bid, 95½ offered on Thursday in reaction to the release to lenders of good quarterly earnings numbers, according to a trader.

The financials showed a roughly 20% increase in revenues in the quarter when compared to the same period last year, and year-over-year EBITDA numbers were good as well, the trader added.

Also, Sabre GLBL Inc.’s term loan B held steady after falling about a point in the prior session due to a ratings downgrade by Moody’s Investors Service.

Meanwhile, in the primary market, Golden Entertainment Inc. joined the near-term calendar with plans for a new term loan B that will help refinance its existing term loan.

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