Epic Crude Services, Trico Group free to trade; Tallgrass Energy floats price guidance

By Sara Rosenberg

New York, Feb. 21 – Epic Crude Services made a number of documentation changes to its term loan B before breaking for trading on Thursday, and Trico Group LLC’s first-lien term loan debt emerged in the secondary market too.

Epic Crude Services’ term loan B was quoted at 98¾ bid, 99¾ offered, a source said.

Trico Group’s $255 million incremental first-lien term loan due February 2024 and rolled $464 million first-lien term loan were seen at 96¼ bid, 97¼ offered, a market source remarked.

In more happenings, Tallgrass Energy LP disclosed price talk on its term loan with launch.

Tallgrass Energy held its bank meeting on Thursday morning and announced price talk of Libor plus 525 bps with a 0% Libor floor and an original issue discount of 98.5 on its $1,155,000,000 seven-year first-lien term loan (B1/B+/BB-), according to a market source.

The term loan has 101 soft call protection for one year.

Commitments are due at 5 p.m. ET on March 7.

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