PODS, Garda break; Pharmaceutical Products, Emdeon revise deals; Graton accelerates deadline

By Sara Rosenberg

New York, Aug. 4 – PODS LLC’s $459 million senior secured term loan B due 2022 freed up for trading on Tuesday, with levels quoted at par ½ bid, 101 offered, and Garda World Security Corp.’s add-on term loan, decreased to $75 million from $100 million, began trading, with levels seen at 98 7/8 bid, 99 3/8 offered.

Moving to the primary market, Pharmaceutical Product Development LLC (Jaguar Holding Co. II) trimmed pricing on its term loan and added a leverage-based step-down, Emdeon Inc. tightened the issue price on its incremental term B, and Graton Economic Development Authority moved up the commitment deadline on its term loan.

In addition, Hudson’s Bay Co., KIK Custom Products Inc., AMAG Pharmaceuticals Inc., Patterson Medical, Smart Start Inc. and C Spire released talk with launch.

SRS Distribution Inc. set a lender call for Thursday to launch a $325 million first-lien covenant-light term loan, while Duff & Phelps Corp. scheduled a lender call for Wednesday to launch $151 million in new term loan debt split between a $41 million incremental first-lien term loan due 2020 and a $110 million six-year second-lien term loan.

In other news, MediaOcean LLC allocated its $335 million credit facility that includes a $20 million five-year revolver, a $225 million seven-year first-lien covenant-light term loan and a $90 million eight-year second-lien term loan that was pre-placed.

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