Diamond Resorts, US LBM break; Pinnacle Foods term loan softens; Swissport revisions surface

By Sara Rosenberg

New York, Nov. 24 – Diamond Resorts Corp. and US LBM Holdings LLC saw their tack-on first-lien term loans free up for trading on Tuesday, and Pinnacle Foods Inc.’s term loan G was a little lower after the company revealed that it would be taking on additional debt for an acquisition.

Diamond Resorts’ $150 million tack-on first-lien term loan (B+) due May 2021 was quoted at 98½ bid, 99½ offered on the open, and then levels tightened to 98½ bid, 99 offered, according to a trader.

Pinnacle Foods’ term loan G fell to 99 bid, 99½ offered from 99¼ bid, 99¾ offered, a trader said.

Meanwhile, in the primary market, Swissport Group restructured its transaction, cancelling a U.S. term loan B, expanding a euro term loan B and adding a notes offering.

Additionally, TierPoint nailed down timing on the launch of its incremental bank debt, and Apco Holdings Inc., MB Aerospace, PLZ Aeroscience Corp. and ProQuest are getting ready to bring new deals to market.

Apco Holdings set a bank meeting for Dec. 2 to launch a $210 million credit facility, MB Aerospace emerged with plans to hold a bank meeting on Dec. 1 to launch a $185 million credit facility, PLZ Aeroscience scheduled a lender call for Dec. 1 to launch $155 million in incremental debt financing, and ProQuest will hold a bank meeting on Dec. 1 to launch a $275 million first-lien term loan.

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