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Veritas, Tutor Perini, Smart Start, AmeriLife break; LogMeIn, Hudson River revise deals
By Sara Rosenberg
New York, Aug. 14 – A number of loan deals made their way into the secondary market on Friday, including Veritas Technologies, Tutor Perini, Smart Start Inc. and AmeriLife Holdings LLC.
Veritas Technologies’ $1.325 billion five-year term loan B broke for trading, with levels quoted at 98¼ bid, 98¾ offered, according to a market source.
Tutor Perini’s $425 million seven-year first-lien term loan B (Ba3/BB-/BB+) began trading too, with levels quoted by one trader at 99 bid, 99¾ offered, and by a second trader at 98¾ bid.
Smart Start’s $350 million term loan B (B2/B) also freed to trade, with levels quoted at par bid, par ¼ offered, according to a market source.
AmeriLife’s fungible $95 million incremental covenant-lite first-lien term loan due March 18, 2027 broke as well, with levels quoted at 99 bid, 99½ offered, a market source remarked.
Meanwhile, over in the primary market, LogMeIn Inc. reduced the size of its first-lien term loan, finalized the spread at the low end of guidance, tightened the original issue discount and sweetened the call protection.
Also, Hudson River Trading LLC upsized its add-on term loan and firmed the issue price at the tight end of talk.
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