Technimark frees to trade; AIS HoldCo changes surface; Boyd accelerates deadline

By Sara Rosenberg

New York, Aug. 6 – Technimark LLC trimmed the spread, added a step-down and tightened the original issue discount on its term loan before the debt made its way into the secondary on Monday. Meanwhile two Bid Wanted In Competitions hit the market.

In more happenings, AIS HoldCo LLC (Affinion Insurance Solutions) revised pricing on its first-lien term loan, added a step-up and made a number of documentation changes, and Boyd Corp. moved up the commitment deadline on its term loans.

Furthermore, Penn National Gaming Inc., Del Frisco’s Restaurant Group Inc., Travel Leaders Group LLC and Leidos Innovations Corp. released price talk with launch and Bay Club (Bulldog Purchaser Inc.), Cypress Semiconductor Corp. and Hoffmaster Group Inc. joined this week’s primary calendar.

Technimark revised, trades

Technimark cut pricing on its $275 million seven-year covenant-light term loan to Libor plus 375 basis points from Libor plus 400 bps, added a step-down to Libor plus 350 bps at the earlier of corporate credit ratings of B2/B or less than 4 times total net leverage and moved the original issue discount to 99.875 from 99.5, according to a market source.

On Monday afternoon, the term loan freed to trade and levels were quoted at par 1/8 bid, par 5/8 offered, the source added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.