Mattress Firm dips with acquisition news; Cable & Wireless, Premiere, Cypress update deals

By Sara Rosenberg

New York, Nov. 30 – Mattress Firm Holding Corp.’s term loan was a bit lower in the secondary market on Monday following the company’s announcement that it will be taking on additional debt to fund the acquisition of Sleepy’s.

Over in the primary market, Cable & Wireless Communications plc (Sable International Finance Ltd.) widened the spread and original issue discount on its term loan B debt, and extended the call protection.

Also, Premiere Global Services Inc. upsized its first-lien term loan while revising pricing, discount and call protection and removed a second-lien term loan from its capital structure, and Cypress Semiconductor Corp. switched up its financing plans as it removed its term loan B from market and instead will launch a term loan A.

Additionally, Konecranes Terex plc released price talk with launch, and Microsemi Corp., Kraton Polymers LLC, Edelman Financial Center LLC, United Site Services, Albertsons Cos. LLC and ClubCorp joined this week’s calendar.

In other news, Lannett Co. Inc. completed its acquisition of Kremers Urban Pharmaceuticals Inc., the U.S. specialty generic pharmaceuticals subsidiary of biopharmaceuticals company UCB SA, for $1.23 billion plus potential contingency payments, a news release said.

For the transaction, Lannett got a new $1,035,000,000 senior secured credit facility (B1/BB-) that includes a $125 million five-year revolver, a $275 million five-year term loan A and a $635 million seven-year term loan B.

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