Innovative XCessories, First Data, HealthSun free to trade; TricorBraun revisions surface

By Sara Rosenberg

New York, Nov. 23 – Innovative XCessories & Services LLC finalized price on its term loan B at the low end of guidance and then the debt made its way into the secondary market on Wednesday, and First Data Corp. and HealthSun began trading too.

Innovative XCessories & Services’ $400 million six-year term loan B (B2/B) freed up for trading on Wednesday at par bid, 101 offered after pricing on the debt firmed at Libor plus 475 basis points, the low end of the Libor plus 475 bps to 500 bps talk, according to a market source.

First Data’s $2,783,000,000 first-lien term loan due July 10, 2022 was seen at 100¼ bid, 100½ offered, a market source said.

HealthSun’s $457 million six-year covenant-light term loan B was quoted at 94½ bid, 95½ offered, according to a market source.

In more happenings, TricorBraun firmed the spread and original issue discount on its funded and delayed-draw term debt at the wide side of talk, extended the call protection and reworked some of the delayed-draw terms, and GTT Communications Inc. scheduled a bank meeting for its previously announced credit facility.

GTT Communications set a bank meeting for 2 p.m. ET in New York on Tuesday to launch its $775 million credit facility, a market source said.

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