Energy Future, Peak 10, Gray Television, Deltek break; Brickman moves deadline

By Sara Rosenberg

New York, June 10 – Energy Future Intermediate Holding Co. LLC’s (EFIH Finance Inc.) debtor-in-possession term loan emerged in the secondary market on Tuesday with levels seen above its issue price, and Peak 10 Inc., Gray Television Inc., Arizona Chemical Inc. and Deltek Inc. began trading as well.

Moving to the primary, Brickman Group Ltd. LLC moved up the commitment deadline on its loan transaction, VeriFone Inc. and Alion Science and Technology Corp. disclosed price talk with launch, and Mauser Holdings announced guidance on its upcoming deal.

Furthermore, Overseas Shipholding Group Inc., LA Fitness International LLC, Akorn Inc. and Equinox Holdings Inc. joined this week’s calendar, and Spencer Spirit Holdings Inc. revealed size on its proposed loan.

Energy Future Intermediate Holding’s $1,325,000,000 24-month super-priority first-lien debtor-in-possession term loan (Ba3/BB) broke for trading on Tuesday, with levels quoted at par ¼ bid, par 5/8 offered on the open and then it moved up to par 5/8 bid, par 7/8 offered, according to a market source.

Pricing on the loan is Libor plus 325 basis points with a 1% Libor floor and it was issued at par, after tightening the other day from 99.

Deutsche Bank Securities Inc., Citigroup Global Markets Inc., Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc., RBC Capital Markets and Union Bank are leading the deal that will be used to fund Chapter 11 expenses and to refinance existing first-lien notes.

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