Avaya up on asset sale buzz; Mattress Firm rises; Oasis Outsourcing, Truck Hero tweak deals

By Sara Rosenberg

New York, Aug. 8 – Avaya Inc.’s term loans rose by a number of points in trading on Monday in response to chatter about a potential sale of its call center business and Mattress Firm Holding Corp.’s term loan was better as the company revealed that it is being acquired by Steinhoff International Holdings NV.

Moving to the primary market, Oasis Outsourcing Holdings Inc. modified the original issue discount on its incremental first-lien term loan, Truck Hero Inc. set the spread on its term loan B at the low end of talk and extended the call protection, and Polyconcept and NEW Asurion Corp. accelerated the commitment deadlines on their term loans.

Also, Dayton Power & Light Co. and Boyd Gaming Corp. released price talk with the launches of their deals, Ziggo came to market with a refinancing transaction and M/A-COM Technology Solutions Holdings Inc. (Macom) launched an add-on term loan.

Furthermore, OpenLink International Inc. approached lenders with an extension of its credit facility, and Amplify Snack Brands Inc., Veresen Midstream and Western Digital Corp. joined this week’s primary calendar.

Avaya saw its term loans gain considerably in the secondary market on Monday as rumors circulated that the company may be selling its call center business, according to a trader.

The term loan B-3 was quoted at 88 bid, 90 offered, up from 80 bid, 82 offered, the term loan B-6 was quoted at 85 bid, 87 offered, up from 78 bid, 79 offered, and the term loan B-7 was quoted at 79½ bid, 81 offered, up from 74½ bid, 75½ offered, the trader said.

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