MHS Holdings, RSA Security free to trade; thyssenkrupp softens; Angus Chemical updated

By Sara Rosenberg

New York, July 1 – MHS Holdings Inc. (Deliver Buyer Inc.) increased the size of its incremental first-lien term loan B before freeing up for trading late in the day on Wednesday, and the debt was quoted above its original issue discount.

Specifically, the company lifted its non-fungible incremental first-lien term loan B (B3/B-) due May 1, 2024 to $145 million from $125 million, a market source said.

As before, the term loan is priced at Libor plus 625 basis points with a 1% Libor floor and an original issue discount of 97, and has 101 hard call protection for one year.

Late Wednesday, the incremental broke for trading and was quoted at 98½ bid, a trader added.

RSA Security’s (Redstone Buyer LLC) $1.05 billion seven-year covenant-lite first-lien term loan (B1/B/BB+) began trading on Wednesday too, with levels quoted at 98¼ bid, 99 offered, and thyssenkrupp Elevator’s $2.875 billion seven-year first-lien term loan B (B1/B/B+) was quoted by one trader at 98 bid, 98½ offered and by a second trader at 98 bid, 98 1/8 offered, down from 98¼ bid, 98¾ offered when the debt freed to trade late Tuesday.

In more happenings, Angus Chemical Co. raised its U.S. and euro term loan to about $530 million equivalent from around $500 million equivalent, and set the breakdown as a $251 million U.S. piece and a €248 million euro piece, a market source remarked.

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