Catalent breaks; Hudson’s Bay weakens; Tibco, C&J, Packers, Global Cash, Equinox revised

By Sara Rosenberg

New York, Nov. 24 – Catalent Pharma Solutions Inc.’s add-on term loan hit the secondary market on Monday with the U.S. tranche quoted above its original issue discount, and Hudson’s Bay Co.’s first-lien term loan was softer on paydown news.

Moving to the primary, Tibco Software Inc. lifted sizes on its term loan B and asset-sale bridge loan, widened the spread and original issue discount on the B tranche and firmed the discount on the asset-sale tranche at the low end of talk.

Also, C&J Energy Services Inc. restructured its deal to get a single term loan B tranche, and Packers Holdings LLC (PSSI) lowered pricing on its term loan B, added a step-down and set the offer price at the tight end of guidance.

In addition, Global Cash Access Inc. increased pricing on its term loan B, modified the original issue discount, shortened the maturity and added a covenant, Equinox Holdings Inc. lifted the spread on its add-on term loan, removed a step-down and extended the call protection, and Terra-Gen Finance Co. LLC moved up the commitment deadline on its loan.

Furthermore, First Advantage and Distribution International Inc. came out with talk with launch, Siemens Audiology Systems (Auris Luxembourg III Sarl) and Eye-Mart joined the near-term calendar, and timing emerged on New Media Investment Group Inc.’s incremental term loan and TASC Inc.’s incremental debt.

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