Tallgrass, Wynn, ConvergeOne, Tivity, Quorum break; Hornblower, Main Event updated

By Sara Rosenberg

New York, March 7 – Tallgrass Energy LP lowered the spread on its term loan, added a pricing step-down, tightened the original issue discount and shortened the call protection, and Wynn Resorts Ltd. firmed the issue price on its add-on term loan at the tight side of guidance, and then both of these deals freed up for trading on Thursday.

Other deals to make their way into the secondary market during the session included ConvergeOne Holdings Inc. (PVKG Merger Sub Inc.), Tivity Health Inc., Quorum Business Solutions (QBS Parent Inc.) and Avison Young Inc.

In more news, Hornblower Holdings upsized its add-on first-lien term loan and modified the original issue discount, and Main Event Entertainment carved a delayed-draw tranche out of its term loan and set pricing at the high end of talk.

Furthermore, Carbonite Inc., Ascensus Inc., Chromaflo Technologies, Parts Town (PT Holdings LLC) and Ocwen Financial Corp. released price guidance with launch, and Tank Holding Corp. and NSO Group joined the near-term primary calendar.

In its deal, Tallgrass Energy cut pricing on its $1,155,000,000 seven-year first-lien term loan (B1/B+/BB-) to Libor plus 475 basis points from Libor plus 525 bps and changed the original issue discount to 99.25 from 98.5, according to a market source.

The term loan still has a 0% Libor floor.

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