MyEyeDr. updates pricing; Alion accelerated; Epicor, Tosca Services guidance surfaces

By Sara Rosenberg

New York, July 16 – MyEyeDr. (MED ParentCo. LP) trimmed the spread on its first-lien term loan on Thursday and finalized the original issue discount at the tight end of talk, and Alion Science & Technology Corp. moved up the commitment deadline for its first-lien term loan.

Also, Epicor Software Corp. came out with price talk on its first- and second-lien term loans in connection with its lender call, and Tosca Services LLC released pricing guidance on its first-lien term loan.

MyEyeDr. revised

MyEyeDr. reduced pricing on its $80 million senior secured first-lien term loan due August 2026 to Libor plus 625 basis points from Libor plus 650 bps and set the original issue discount at 98, the tight end of the 97 to 98 guidance, a market source said.

As before, the term loan has a 1% Libor floor and hard call protection of 102 in year one and 101 in year two.

Order confirmations were due at the close of business on Thursday, the source added.

Jefferies LLC, Nomura, Golub Capital, KKR Capital Markets and Macquarie Capital (USA) Inc. are leading the deal that will be used for general corporate purposes.

MyEyeDr. is an optometry platform. The company is affiliated with Capital Vision Services LP, which provides management services to MyEyeDr. optometrists and its practices with financial, marketing, human resources and account services, along with managed care credentialing and claims processing.

Alion changes deadline

Alion Science & Technology accelerated the commitment deadline for its $360 million four-year first-lien term loan (B1/BB-) to noon ET on Monday from Wednesday, a market source remarked.

Allocations are expected on Monday afternoon, the source added.

The first-lien term loan is talked at Libor plus 400 bps with a 1% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

The company is also getting a $40 million revolver (Ba1/BB).

UBS Investment Bank and KKR Capital Markets are leading the deal that will be used with cash on hand to refinance an existing first-lien term loan and mezzanine tranche.

Alion, a portfolio company of Veritas Capital, is a McLean, Va.-based provider of advanced engineering, intelligence surveillance and reconnaissance, research development test and evaluation, live virtual and constructive training, electronic warfare, and cybersecurity solutions primarily to U.S. Department of Defense and Intelligence Community customers.

Epicor discloses talk

Epicor Software held its lender call on Thursday and announced price talk on its $2.75 billion of term loans, according to a market source.

Talk on the $1.925 billion first-lien term loan (B-) is Libor plus 425 bps with a 1% Libor floor and an original issue discount of 97.5 to 98, and talk on the $825 million second-lien term loan (CCC) is Libor plus 775 bps to 800 bps with a 1% Libor floor and a discount of 98, the source said.

Included in the first-lien term loan is 101 soft call protection for one year, and the second-lien term loan is non-callable for one year, then at 102 in year two and 101 in year three.

Commitments are due at 5 p.m. ET on Wednesday, the source added.

KKR Capital Markets, Barclays, Nomura, Jefferies LLC, Macquarie Capital (USA) Inc. and Stone Point are leading the deal that will be used for a dividend recapitalization.

Epicor is an Austin, Tex.-based provider of enterprise business software services.

Tosca proposed terms

Tosca Services came out with talk of Libor plus 475 bps to 500 bps with a 1% Libor floor and an original issue discount of 97 on its $526.5 million seven-year first-lien term loan (B) that launched with a call in the morning, a market source remarked.

The term loan has 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on July 29.

Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., UBS Investment Bank, Goldman Sachs Bank USA, Rabobank, KKR Capital Markets and Mizuho are leading the deal that will be used to fund the acquisition of Contraload NV, an Aartselaar, Belgium-based provider of upstream reusable plastic pallets and containers, and to refinance existing debt.

Tosca, an Apax Partners portfolio company, is an Atlanta-based provider of reusable packaging supply chain solutions.

© 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.