Albertsons, Aspen Dental break for trading; Cypress Semiconductor reworks term loan B

By Sara Rosenberg

New York, June 1 – Albertsons Cos. LLC’s term loan B-6 and repriced loans made their way into the secondary market on Wednesday above their original issue discounts, and Aspen Dental Management Inc.’s add-on and repriced loans began trading as well.

Moving to the primary market, Cypress Semiconductor Corp. reduced the size of its term loan B, increased pricing, set the issue price at the wide end of guidance, extended the call protection and shortened the maturity.

In more happenings, Vencore Inc., St. George’s University, ABB/Con-Cise Optical Group LLC, Ennis-Flint, Kindred Healthcare Inc. and Eze Software all came out with price talk on their new loan transactions with launch.

Additionally, Avantor Performance Materials, Harland Clarke Holdings Corp., Affinity Gaming, Cvent Inc., Bob’s Discount Furniture Inc., Strategic Partners and Berry Plastics emerged with new deal plans.

Also, West Corp. held the bank meeting to launch its $470 million seven-year term loan B-12, and lenders are being asked to get their orders in by June 8, a market source said.

In other news, the buyout of Russell Investments by TA Associates and Reverence Capital Partners from London Stock Exchange Group plc in a transaction valued at $1.15 billion has been completed, a news release said. To help fund the transaction, Russell got a new $700 million credit facility (Ba2/BB/BB) that includes a $50 million five-year revolver and a $650 million seven-year covenant-light term loan B.

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