Creganna-Tactx, Navex break; B/E Aerospace, Parq, Tecomet, Camping World update deals

By Sara Rosenberg

New York, Nov. 20 – Creganna-Tactx Medical’s credit facility emerged in the secondary market during Thursday’s session with the first-lien term loan quoted above its issue price, and Navex Global started trading as well.

Switching to the primary, B/E Aerospace Inc. and Parq Resort & Casino (Parq Ltd. Holdings Partnership) tightened the spreads and original issue discounts on their term loans, and Tecomet Inc. sweetened spreads, issue prices and call protection on its first- and second-lien term loans.

Also, Camping World Inc. firmed the original issue discount on its add-on term loan at the tight end of talk, and Abaco Energy Technologies LLC reduced the size of its term loan.

Furthermore, Compuware Corp., Varsity Brands and Catalent Pharma Solutions Inc. launched new loans, and First Advantage and Distribution International Inc. surfaced with deal plans.

Creganna-Tactx’s credit facility broke for trading on Thursday with the $185 million first-lien term loan (B1/B) quoted at 99 7/8 bid, par ¼ offered, according to a trader.

Pricing on the first-lien term loan is Libor plus 425 basis points with a 1% Libor floor and it was sold at an original issue discount of 99¼. There is 101 soft call protection for six months.

The company’s $300 million credit facility also includes a $25 million revolver (B1/B) and a $90 million second-lien term loan (Caa1/CCC+).

The second-lien term loan is priced at Libor plus 800 bps with a 1% Libor floor.

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