TruGreen, Insight Global break atop OIDs; Quorum Health, NAPA Management revise deals

By Sara Rosenberg

New York, April 8 – TruGreen Holdings Inc. lowered pricing on its term loan B, set the issue price at the tight end of talk and extended the call protection, and Insight Global (IG Investment Holdings LLC) finalized the original issue discount on its tack-on extended term loan B at the tight end of guidance, and then both deals freed up for trading on Friday.

By late Friday afternoon, TruGreen’s term loan B was quoted at 99¼ bid, par offered, a trader said.

Insight Global firmed the original issue discount on its fungible $37.5 million tack-on extended term loan B due Oct. 31, 2021 at 99, the tight end of the 98.79 to 99 talk, according to a market source.

With terms finalized, the tack-on was seen at 99½ bid, par offered, a trader said.

In more happenings, Quorum Health Corp. widened the spread and issue price on its term loan, NAPA Management Services Corp. (NMSC Holdings Inc.) upsized its term loan B, tightened pricing and original issue discount and sweetened the call premium, and Micron Technology Inc. emerged with new deal plans.

In other news, Sears Holdings Corp. closed on Friday on its $750 million incremental senior secured ABL term loan (B) due July 20, 2020, according to a news release.

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