RevSpring breaks atop OID; CHG adjusts issue price; Zebra, Catalent launch repricings

By Sara Rosenberg

New York, Nov. 28 – RevSpring saw its credit facility free up for trading on Monday following a widening of both spread and original issue discount on the first-lien term loan.

RevSpring’s $207 million seven-year first-lien term loan (B2/B) was quoted at 98½ bid, 99½ offered, according to a market source.

Pricing on the first-lien term loan is Libor plus 550 basis points with a 1% Libor floor, and it was sold at an original issue discount of 98. The debt has 101 soft call protection for six months.

The spread was increased from talk of Libor plus 475 bps to 500 bps, and the discount was revised from 99 before syndication wrapped up, the source said.

In more happenings, CHG Healthcare Services Inc. tightened the original issue discount on its add-on first-lien term loan, Zebra Technologies Corp. and Catalent Pharma Solutions Inc. brought repricing transactions to market, and Ansira Partners Inc. began circulating price talk on its upcoming credit facility.

Additionally, RCN Grande (Radiate Holdco LLC), Albertsons Cos. LLC, Lightstone Generation LLC, Oberthur Technologies Group SAS, AdvancePierre Foods Inc., WirePath Home Systems LLC, Q Holding Co. and Rouse’s joined this week’s new issue calendar.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.