Windstream breaks; Neiman up with earnings; Valeant falls on numbers, guidance changes

By Sara Rosenberg

New York, March 15 – Windstream Services LLC upsized its term loan B-6, trimmed the spread and finalized the original issue discount guidance at the midpoint of talk, and then the debt made its way into the secondary market.

Windstream’s B-6 loan was quoted at 98 bid, 98½ offered, a trader said.

Also in trading, Neiman Marcus Group LLC’s term loan moved up by a couple of points after the company released fiscal second quarter numbers, and Valeant Pharmaceuticals International Inc.’s term loans softened as preliminary unaudited fourth quarter results were announced and guidance for 2016 was lowered.

Neiman Marcus’ term loan jumped to 93¾ bid, 94¼ offered early on in the day, and then, by late afternoon, levels came back in a bit to 93 bid, 93¾ offered, according to a trader.

Valeant’s term loan E was quoted at 92 bid, 92¾ offered, down from 94½ bid, 95 offered; the term loan F was quoted at 92¼ bid, 93 offered, down from 94 5/8 bid, 95 1/8 offered; and the C and D term loans were quoted at 92½ bid, 93½ offered, down from 95 bid, 95¾ offered, a trader said.

Back in the primary market, Western Digital Corp., Blount International Inc., API Technologies Corp. and DYK Automotive/AAHC disclosed price talk with launch.

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