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Avaya term loans slide; Berry Plastics, HealthPort, Universal Fiber Systems set launches
By Sara Rosenberg
New York, Sept. 8 – Avaya Inc.’s term loans weakened in trading on Tuesday as sellers outweighed buyers in the market, and Media General Inc.’s term loan held firm after word emerged that the company is buying Meredith Corp.
Avaya’s term loan B-3 was quoted 90¼ bid, 91¼ offered, down from 91 bid, 92 offered, its term loan B-6 was quoted at 91 bid, 92 offered, down from 91¾ bid, 92¾ offered, and its term loan B-7 was quoted at 82 bid, 84 offered, down from 83 bid, 85 offered, a trader said.
Media General’s term loan was unchanged in trading at 99¾ bid, 100 1/8 offered.
Switching to the primary market, Berry Plastics Corp. LLC, HealthPort Inc. (CT Technologies Intermediate Holdings and Smart Holdings Corp.) and Universal Fiber Systems LLC joined this week’s new issue calendar.
Berry Plastics set a bank meeting for 10 a.m. ET in New York on Wednesday to launch a $1.9 billion first-lien term loan due in 2022.
HealthPort scheduled a lender call for 10:30 a.m. ET on Wednesday to launch a $117 million incremental first-lien term loan due December 2021.
Universal Fiber Systems emerged with plans to hold a bank meeting at 10 a.m. ET on Thursday to launch a $240 million credit facility.
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