Dell Software, Neustar, Dexter Axle break; Nielsen resized again; Focus revises deadline

By Sara Rosenberg

New York, Sept. 27 – Dell Software Group’s credit facility freed up for trading on Tuesday, with its first-lien term loan quoted above its original issue discount, and deals from Neustar Inc. and Dexter Axle hit the secondary market as well.

Dell Software’s $1.35 billion six-year covenant-light first-lien term loan was quoted at 99¼ bid, 99¾ offered, according to a trader.

Neustar’s $498,893,750 term loan A (Ba2/BB+) due Jan. 22, 2019 began trading too, with levels quoted at 99¾ bid, 100¾ offered, a trader said.

Dexter Axle’s $80 million add-on term loan (B1/B+) also freed up, with levels seen at par bid, 101 offered, according to a market source.

Meanwhile, in the primary market, Nielsen Finance LLC increased the size of its term loan B-3 for a second time, and Focus Brands Inc. moved up the commitment deadline on its credit facility.

In addition, Vizient Inc., Casella Waste Systems Inc. and SRS Distribution Inc. released price talk on their new deals with launch.

Also in the primary, Ancestry.com Operations Inc. revealed that its $550 million eight-year second-lien term loan includes hard call protection of 102 in year one and 101 in year two, a market source remarked. The second-lien term loan and a $1.35 billion seven-year first-lien term loan B were launched to investors with a lender call in the afternoon.

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