Charter, AlixPartners, Kenan Advantage break; Hostess, Alliant Insurance revise deadlines

By Sara Rosenberg

New York, July 23 – Charter Communications Inc.’s term loans freed up for trading during Thursday’s market hours, with the loans quoted above their original issue discounts, and AlixPartners LLP and Kenan Advantage Group Inc. began trading too.

Switching to the primary market, Hostess Brands LLC and Alliant Insurance Services Inc. (Alliant Holdings I LP) accelerated the commitment deadlines on their credit facilities, with Hostess moving up its deadline to Monday from July 30 and Alliant accelerating its deadline to Friday from Wednesday.

Also, Prolamina Corp./Ampac Holdings LLC (Intermediate Holdco (US)) came out with price talk with its bank meeting on Thursday.

The company’s $400 million seven-year first-lien term loan is talked at Libor plus 375 bps to 400 bps with a 1% Libor floor and an original issue discount of 99, and its $110 million eight-year second-lien term loan is talked at Libor plus 800 bps to 825 bps with a 1% Libor floor and a discount of 98.5 to 99.

Furthermore, Water Pik Inc. announced pricing details on its add-on term loans. The company launched a fungible $75 million add-on first-lien term loan at Libor plus 475 bps with a 1% Libor floor and a fungible $35 million add-on second-lien term loan at Libor plus 875 bps with a 1% Libor floor.

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