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Global Eagle Entertainment, Las Vegas Sands term loans free to trade above issue prices
By Sara Rosenberg
New York, Dec. 22 – Global Eagle Entertainment Inc.’s credit facility made its way into the secondary market on Thursday, with its first-lien term loan quoted above its original issue discount, and Las Vegas Sands LLC broke for trading too.
Global Eagle Entertainment’s $500 million six-year first-lien term loan was quoted at 97¼ bid, 98¼ offered, according to a trader.
Las Vegas Sands’ repriced roughly $2.19 billion term loan B began trading as well, with levels seen at 100¼ bid, 100 5/8 offered, a trader said.
Over in the primary market, timing on the launch of Optiv Security Inc.’s proposed credit facility surfaced. Optiv Security set a bank meeting for 10:30 a.m. ET on Jan. 5 to launch its previously announced proposed credit facility, according to a market source.
The facility consists of an ABL revolver, a covenant-light first-lien term loan and a covenant-light second-lien term loan, with tranche sizes not yet available, the source said.
In other news, DigitalGlobe Inc. completed its $1,475,000,000 credit facility (Ba3/BB+) that includes a $200 million revolver and a $1,275,000,000 seven-year term loan B, a news release said.
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