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Oregon Clean Energy, Belfor free to trade; XPO loan softens; Hornblower joins calendar
By Sara Rosenberg
New York, Feb. 15 – Oregon Clean Energy LLC’s credit facilities began trading on Friday, with the first-lien term loan quoted above its original issue discount, and Belfor’s bank debt made its way into the secondary market as well.
Oregon Clean Energy’s $530 million seven-year first-lien term loan was quoted at 99¼ bid, par offered, according to a market source.
Belfor’s $585 million seven-year first-lien term loan (Ba3/B) was quoted at 99¾ bid, 100½ offered, a trader remarked.
Also in trading, XPO Logistics Inc.’s term loan was weaker following the release of disappointing fourth quarter numbers, adjusted 2019 guidance and the disclosure that a large customer has reduced its business with the company.
XPO Logistics’s term loan was quoted at 97¾ bid, 98¾ offered on Friday, down from 98¾ bid, 99 1/8 offered pre-numbers release on Thursday.
Meanwhile, in the primary market, Hornblower Holdings set a bank meeting for 2:30 p.m. ET in New York on Thursday to launch a $300 million incremental term loan, a market source said.
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