Global Payments, Huntsman, First Data hit secondary; Quorum Health, TruGreen on deck

By Sara Rosenberg

New York, March 24 – Global Payments Inc.’s term loan B emerged in the secondary market on Thursday, with levels quoted above its original issue discount, and Huntsman International LLC’s term loan B freed to trade as well.

Global Payments’ $1,045,000,000 seven-year covenant-light term loan B (Ba2/BBB-) was quoted at par bid, 100 3/8 offered, according to a trader.

Huntsman’s $550 million seven-year senior secured term loan B was seen at par bid, 100½ offered, a trader remarked.

Also, First Data Corp. finalized the size of its extended term loan, firmed the original issue discount at the tight end of talk, and then it too broke for trading.

First Data’s extended term loan was quoted at 99¾ bid, par offered, a source said.

In more happenings, a bank meeting date emerged on Quorum Health Corp.’s credit facility, and, with timing announced, price talk was released on the term loan, and TruGreen Holdings Inc. joined the near-term calendar.

Quorum Health set a bank meeting for 1 p.m. ET in New York on Tuesday to launch a $980 million credit facility (B1) that includes a $100 million five-year revolver and an $880 million six-year first-lien term loan, according to a market source.

TruGreen scheduled a bank meeting for Tuesday to launch a $706 million credit facility, a market source said.

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