EP Energy strengthens in second day of trading; Amplify, Veresen emerge with loan changes

By Sara Rosenberg

New York, Aug. 22 – In what was described as a generally light day of trading, EP Energy LLC saw its new term loan gain some ground in the secondary market on Monday compared to where it freed up at the end of last week.

EP Energy’s roughly $582 million covenant-light term loan (B3/B+) due June 30, 2021 was quoted at 97˝ bid, 99 offered by late in the session on Monday, up from 96˝ bid, 98˝ offered where it broke for trading on Friday, according to a trader.

Also in trading, Liquid Web’s $55 million fungible incremental term loan due July 2021 was quoted with indicative levels of 99 bid, par offered on Monday, after allocating late last week, a market source said.

Meanwhile, in the primary market, Amplify Snack Brands Inc. lifted pricing on its term loan and extended the call protection, and Veresen Midstream reduced the size of its incremental term loan B and adjusted the original issue discount.

In other news, Global Healthcare Exchange LLC allocated last week its fungible $10 million add-on first-lien term loan at initial talk of Libor plus 425 basis points with a 1% Libor floor and an original issue discount of 99.75, according to a market source.

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