Chief Power, Eyemart, Capella break; Astoria Energy, TASC, Caraustar rework deals

By Sara Rosenberg

New York, Dec. 16 – Chief Power Finance LLC upsized its term loan B, set pricing at the high end of talk and then emerged in the secondary market during Tuesday’s session, and Eyemart Express LLC and Capella Healthcare Inc. began trading, too.

In more happenings, Astoria Energy LLC increased pricing on its term loan B, and TASC Inc. widened the spread and discount on its incremental first-lien term loan and adjusted the ticking fee.

Also, Caraustar Industries Inc. lifted pricing on its add-on term loan, modified the offer price and sweetened the call protection, and Liberty Cablevision of Puerto Rico LLC revised the original issue discount on its tack-on first-lien term loan and firmed the issue price on its tack-on second-lien term loan at the tight end of guidance.

Chief Power Finance lifted its six-year term loan B to $351 million from $325 million and firmed pricing at Libor plus 475 bps, the wide end of the Libor plus 450 bps to 475 bps talk, according to a market source, who said the 1% Libor floor, original issue discount of 99 and 101 soft call protection for one year were unchanged.

The company’s now $391 million senior secured credit facility also includes a $40 million five-year revolver.

With final terms in place, the deal began trading, with the term loan B quoted at 99 bid, 99½ offered, a trader remarked.

Closing is expected on Dec. 31, the source added.

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