Citgo, Emerald Performance, iParadigms, Dave & Buster’s break; Gemini tweaks deal

By Sara Rosenberg

New York, July 23 – Citgo Petroleum Corp. finalized pricing on its term loan B at the low end of guidance and then freed up for trading on Wednesday, and Emerald Performance Materials LLC, iParadigms Holdings LLC, Dave & Buster’s Inc. and Osmose Holdings Inc. broke as well.

In more happenings, Gemini HDPE LLC modified the original issue discount price on its term loan, and Capsugel FinanceCo SCA moved up the commitment deadline on its term loan.

Additionally, Expro Oilfield Services plc, Portillo’s Holdings LLC, MSX International and Regent Energy Group Ltd. disclosed price talk with launch.

Furthermore, International Market Centers (IMC OP LP), United Air Lines Inc. (United Continental Holdings) and NGB Home joined this week’s calendar.

Citgo Petroleum set pricing on its $650 million senior secured term loan B (B1/NA/BB+) at Libor plus 350 basis points, the tight end of the Libor plus 350 bps to 375 bps talk, and left the 1% Libor floor, original issue discount of 99 and 101 soft call protection for one year unchanged, according to a market source.

With final terms in place, the loan made its way into the secondary market in the afternoon, with levels quoted at par bid, par ¾ offered, a trader remarked.

Deutsche Bank Securities Inc., ABN Amro Inc., BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc., Mizuho Securities USA Inc., Natixis and SMBC are leading the deal.

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