Constellation Brands Canada, Alliant Holdings, Calpine reveal price talk on loan deals

By Sara Rosenberg

New York, Nov. 1 – Constellation Brands Canada Inc., Alliant Holdings Intermediate LLC and Calpine Corp. released price talk on their loan transactions in connection with their lender calls/presentations on Tuesday.

Alliant Holdings launched its $1,602,550,000 senior secured covenant-light term loan due Aug. 14, 2022 with talk of Libor plus 325 bps with a 1% Libor floor, a par issue price and 101 soft call protection for six months, according to a market source.

Constellation Brands Canada came out with talk of Libor plus 400 bps to 425 bps with a 1% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months on its $260 million seven-year covenant-light term loan B, a source said.

Calpine launched a $550 million 364-day senior secured covenant-light term loan talked at Libor plus 175 bps with no Libor floor, an original issue discount of 99 and 101 soft call protection for six months, a market source remarked.

And, in more primary happenings, NXT Capital Inc. set a bank meeting for 2 p.m. ET in New York on Monday to launch a $350 million senior secured credit facility, according to a market source.

Meanwhile, in the secondary market, Expera Specialty Solutions LLC’s $285 million seven-year term loan B was quoted at 99¾ bid, par ¾ offered on Tuesday after allocating on Monday, a trader said.

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