RedPrairie retreats with earnings; Creganna-Tactx accelerates deadline; Great Wolf revised

By Sara Rosenberg

New York, Nov. 17 – RedPrairie Corp. saw its first- and second-lien term loans slide lower in the secondary market on Monday as lenders were disappointed with the company’s third-quarter earnings results.

Moving to the primary, Creganna-Tactx Medical moved up the commitment deadline on its credit facility, and Great Wolf Resorts Holdings Inc. lifted the size of its first-lien term loan and widened pricing while also cancelling its planned second-lien term loan.

Additionally, on the primary front, Survey Sampling International LLC, Sonneborn LLC and Equinox Holdings Inc. joined this week’s calendar.

RedPrairie’s term loans weakened in trading on Monday in reaction to privately released third-quarter results, according to a trader.

The first-lien term loan was quoted at 92 bid, 93 offered, down from 93 bid, 95 offered, and the second-lien term loan was quoted at 87˝ bid, 89˝ offered, down from 88 bid, 90˝ offered, the trader said.

Switching to the primary, Creganna-Tactx Medical accelerated the commitment deadline on its $300 million credit facility to Tuesday from Thursday, a market source remarked.

The facility consists of a $25 million revolver (B1/B), a $185 million first-lien term loan (B1/B) and a $90 million second-lien term loan (Caa1/CCC+).

RBC Capital Markets, Morgan Stanley Senior Funding Inc., Bank of Ireland and Societe Generale are leading the deal.

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