Air Canada, Raley’s break; Epicor, Merrill, Flint, Hubbard, American Gaming, CHG set talk

By Sara Rosenberg

New York, May 12 – Air Canada Inc.’s credit facility made its way into the secondary market on Tuesday, with the $300 million term loan B due Sept. 26, 2019 quoted at par ¼ bid, par ¾ offered, according to a trader.

And Raley’s saw its $200 million seven-year term loan free up as well, with the debt quoted at 99 bid, a trader remarked.

Moving to the primary market, Epicor Software Corp. held its bank meeting and released talk on its $1.4 billion seven-year covenant-light first-lien term loan at Libor plus 400 bps with a 1% Libor floor, an original issue discount of 99.5 for new money, an issue price of par for existing money and 101 soft call protection for six months, according to a market source.

Merrill Communications LLC also came out with talk of Libor plus 475 bps with a 1% Libor floor and an original issue discount of 99 on its $510 million seven-year covenant-light first-lien term loan.

Flint Group (Colouroz Investment), Hubbard Radio LLC, American Gaming Systems and CHG Healthcare Services Inc. also disclosed price talk with launch.

Additionally, Lightsquared released pricing guidance on its first-lien term loan in preparation for its upcoming bank meeting, and LegalShield and American Rock Salt joined this week’s calendar.

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