Ascena dips with sales results; Valeant up on asset sale plans; Synchronoss revises deadline

By Sara Rosenberg

New York, Jan. 10 – Ascena Retail Group Inc.’s term loan softened in the secondary market on Tuesday with disappointing sales news, and Valeant Pharmaceuticals International Inc.’s term loans inched their way higher after the company announced two asset sale agreements that will result in the repayment of some existing term loan borrowings.

Ascena’s term loan was quoted at 94½ bid, 95½ offered, down from 96½ bid, 97¼ offered on Monday, a source said.

One trader had Valeant’s term loan C and D quoted at 100 1/8 bid, 100½ offered, up from par bid, 100 3/8 offered; the term loan E at 100¼ bid, 100 5/8 offered, up from 100 1/8 bid, 100 3/8 offered; and the term loan F at 100 3/8 bid, 100¾ offered, up on the offer side from 100 3/8 bid, 100 5/8 offered previously.

Switching to the primary market, Synchronoss Technologies Inc. accelerated the commitment deadline on its first-lien term loan B, and AmWINS Group LLC, Leidos Innovations Corp., Gemini HDPE LLC, PolyOne Corp., Presidio Inc., CityCenter Holdings LLC and Tribune Media Co. disclosed price talk with launch.

Furthermore, US LBM Holdings LLC released original issue discount guidance on its incremental first-lien term loan, and Blue Nile Inc., Brown Jordan International Inc., Prestige Brands Inc., TransUnion LLC, KIK Custom Products Inc., TransDigm Group Inc. and Americold Realty Operating Partnership LP joined this week’s primary calendar.

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