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Academy, Spectrum Brands, Retail Solutions, Methanol break; Cengage withdraws repricing
By Sara Rosenberg
New York, June 16 – Academy Ltd. (Academy Sports + Outdoors), Spectrum Brands Inc. and Retail Solutions Group all freed up for trading on Tuesday, and Methanol Holdings (Trinidad) Ltd. broke after reducing the size of its term loan B, setting the spread at the high end of talk and widening the original issue discount.
In other news, Cengage Learning Acquisitions Inc. pulled its repricing proposal from market, saying that the repricing market had softened in the past few weeks. The company had planned to price its $2.03 billion first-lien term loan due 2020 via Credit Suisse.
In addition, Protection 1 (Apollo Security Services Borrower LLC) and Lindblad Expeditions Inc. moved up the commitment deadlines on their deals. Both companies moved their deadlines to Thursday from June 23.
Furthermore, First Advantage (STG-Fairway Acquisitions Inc.) and CareCentrix Inc. released pricing guidance with launch, Bluestem Brands Inc. disclosed original issue discount talk on its incremental term loan, and Six Flags Entertainment Corp. and Belcan Corp. (Propulsion Acquisition LLC) emerged with new deal plans.
Belcan’s bank meeting to launch its $225 million credit facility was set for Thursday, while Six Flags plans to hold a lender call on Wednesday for a $950 million credit facility.
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