T-Mobile breaks above OID; NXP revises deadline; Avago, Shoes for Crews reveal price talk

By Sara Rosenberg

New York, Nov. 3 – T-Mobile USA Inc.’s term loan B freed up for trading on Tuesday, with levels quoted above par, and First Data Corp.’s 2017 tem loan was steady as the company approached lenders with a partial refinancing transaction.

T-Mobile USA’s $2 billion seven-year covenant-light term loan B (Baa3/BBB-) was quoted at 100 3/8 bid, 100 5/8 offered, according to a trader.

Also in trading, First Data’s 2017 term loan was unchanged at 99 7/8 bid, 100 1/8 offered, a trader remarked.

The company’s 2021 term loan was also flat at 100 1/8 bid, 100½ offered, its March 2018 term loan was slightly higher at 99½ bid, 99¾ offered, versus 99¼ bid, 99½ offered on Monday, and its September 2018 term loan was seen at 99 3/8 bid, 99¾ offered, compared to prior levels of 99¼ bid, 99 5/8 offered, the trader said.

Switching to the primary market, NXP BV moved up the commitment deadline on its term loan B, and Avago Technologies Cayman Finance Ltd. and Shoes for Crews released price talk with launch.

Additionally, timing emerged on the launch of Premiere Global Services Inc.’s credit facility, and Americold Realty Operating Partnership LP joined this week’s calendar.

In other news, Quanex Building Products Corp. completed its $410 million senior secured credit facility that includes a $100 million five-year asset-based revolver and a $310 million seven-year term loan B (B2/BB).

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