Alliant Insurance, Douglas Dynamics free up; Uber rises; Pomeroy, Imagine! changes emerge

By Sara Rosenberg

New York, July 8 – Alliant Insurance Intermediate LLC changed the original issue discount on its incremental term loan and sweetened the call protection, and then the debt made its way into the secondary market on Friday.

Alliant Insurance tightened the original issue discount on its $280 million senior secured incremental first-lien covenant-light term loan B due Aug. 14, 2022 to 99 from 98 and pushed out the 101 soft call protection to one year from six months, a source said.

By late afternoon the debt had freed up for trading, with levels quoted at 99½ bid, par offered, a trader added.

Also, Douglas Dynamics Inc. tightened the issue price on its incremental term loan before breaking, and Uber Technologies Inc.’s term loan headed higher from where it freed up late in the previous session.

Douglas Dynamics’ $130 million incremental term loan (B2) was seen at 99¾ bid, 100½ offered, a source said.

Uber Technologies’ $1.15 billion seven-year covenant-light term loan rose to 99 bid, 99½ offered, after freeing up really late in the day on Thursday at 98½ bid, 99 offered, according to a trader.

In more happenings, Pomeroy Group lifted the spread on its term loan and finalized the original issue discount at the wide end of guidance, Imagine! Print Solutions LLC modified the issue price on its add-on term loan B, and Cast & Crew Entertainment Services and Printpack Inc. surfaced with new deal plans.

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