Cision, Nexeo break; Gates Global trades up; Pilot Travel revised; Repricing activity swells

By Sara Rosenberg

New York, May 17 – Cision (GTCR Valor Cos. Inc.) and Nexeo Solutions Holdings LLC saw their term loan B’s free up for trading on Tuesday, with levels quoted above their original issue discounts, and Gates Global LLC’s term loan B was stronger with the release of earnings results.

Cision’s $1.1 billion seven-year first-lien term loan B (B1/B+) was quoted at 96¼ bid, 97¼ offered, according to a market source.

Nexeo Solutions’ $655 million seven-year covenant-light term loan B (B3/B) was quoted at 99 7/8 bid, 100 1/8 offered, a trader said.

Gates Global’s term loan B was quoted at 96 bid, 97 offered, up from 95 bid, 96 offered, a trader said.

In more happenings, Pilot Travel Centers LLC upsized its term loan B, and a number of companies emerged with refinancing/repricing proposals, including Riverbed Technology Inc., B/E Aerospace Inc., Team Health Inc. and Acadia Healthcare Co. Inc.

Also, Cengage Learning Inc. released details on its term loan B with launch, and Learfield Communications Inc. came out with original issue discount guidance on its incremental term loan.

Furthermore, Genex Holdings Inc. approached investors with an add-on transaction, and Generation Brands Holdings Inc. and Western Refining Inc. joined this week’s new issue calendar.

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