Informatica, Internet break; Life Time, U.S. Shipping, ConvaTec, Technicolor, Dell updated

By Sara Rosenberg

New York, June 3 – Informatica Corp.’s credit facility emerged in the secondary market on Wednesday, with the U.S. dollar term loan B seen trading above par, and Internet Brands Inc.’s incremental first-lien term loan broke as well.

Moving to the primary market, Life Time Fitness Inc. (LTF Merger Sub Inc.) increased the size of its term loan B and reduced price talk, and U.S. Shipping Corp. lowered price talk on its first-lien term loan B and accelerated the commitment deadline as a result of strong demand.

Also, ConvaTec Inc. finalized pricing on its term loans at the low end of revised guidance and tightened issue prices, Technicolor (Tech Finance & Co. SCA) firmed the spreads on its term loans at the wide end of talk, updated original issue discounts and extended the call protection, and Dell Inc. upsized its U.S. and euro term loans while firming pricing at the wide end of talk.

Furthermore, Spectrum Brands Inc., Alere Inc. and Zep Inc. disclosed price talk with launch, and VAT and Lindblad Expeditions Inc. surfaced with new deal plans.

VAT set a lender call for 11 a.m. ET on Thursday to launch a $344 million first-lien covenant-light term loan due 2021.

Lindblad Expeditions scheduled a bank meeting for 2 p.m. ET in New York on Monday to launch a $150 million seven-year first-lien term loan.

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