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Aristocrat dips on repricing; Texas Competitive, UFC tweak deals; Engility, Inteva set talk
By Sara Rosenberg
New York, July 26 – Aristocrat Leisure Ltd.’s term loan B headed lower in the secondary market on Tuesday following news that the company is planning on approaching lenders with a repricing transaction this week.
Aristocrat Leisure’s term loan B dropped to par bid, 100˝ offered from 100˝ bid, 101 offered, according to market sources.
Moving to the primary market, Texas Competitive Electric Holdings Co. LLC lowered pricing on its term loans and set the original issue discount at the tight side of guidance, and UFC Holdings LLC decided to add a second-lien term loan to its proposed capital structure in place of issuing notes.
Additionally, Engility Corp. and Inteva Products LLC disclosed price talk with launch, Polyconcept and Trader Corp. came out with timing on their term loans, and Leslie’s Poolmart Inc. and Air Medical Group Holdings Inc. surfaced with new deal plans.
Polyconcept set a bank meeting for 10 a.m. ET in New York on Thursday to launch its previously announced $435 million seven-year first-lien term loan B, a market source said.
Trader Corp. scheduled a bank meeting for 2 p.m. ET in New York on Thursday to launch its C$510 million seven-year first-lien term loan B, according to a market source.
Air Medical set a lender call for 1 p.m. ET on Wednesday to launch a $175 million senior secured incremental first-lien term loan B, according to a market source.
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