Quality Distribution, Linxens, Recorded Books, Ravn break; Prolamina, Electrical accelerated

By Sara Rosenberg

New York, July 31 – Quality Distribution Inc.’s credit facility freed up for trading on Friday, with the first-lien term loan quoted above its original issue discount.

The company’s $415 million seven-year covenant-light first-lien term loan was quoted at 99½ bid, par offered, according to a trader.

Linxens, Recorded Books and Ravn Air Group hit the secondary as well.

Linxens’ $550 million seven-year first-lien covenant-light term loan was quoted at 99¾ bid, par ¼ offered, and the $200 million eight-year second-lien covenant-light term loan was quoted at 99¼ bid, par offered.

Recorded Books’ credit facility started trading, with the $107.5 million six-year first-lien term loan seen at 99¾ bid, par ¾ offered, a trader said.

And Ravn Air Group’s credit facility hit the secondary, with the $95 million six-year term loan quoted at 99¾ bid, par ¾ offered.

Moving to the primary market, Prolamina Corp./Ampac Holdings LLC (Intermediate Holdco (US)) and Electrical Components International Inc. accelerated the commitment deadlines on their loans, and Patterson Medical, C Spire and HD Supply Holdings Inc. joined the near-term calendar.

In other news, the buyout of PLZ Aeroscience Corp. by Pritzker Group Private Capital has been completed.

For the transaction, PLZ got a new $22.5 million five-year U.S. revolver, a $315 million seven-year covenant-light term loan and a $7.5 million-equivalent standalone Canadian revolver that is permitted by, but separate from, the U.S. revolver and term loan.

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