ESH Hospitality, Gulf Finance, Omnova, Bowlmor, Aclara, XPO break; Dayton changes emerge

By Sara Rosenberg

New York, Aug. 17 – ESH Hospitality Inc.’s credit facility made its way into the secondary market on Wednesday, with the term loan B quoted above its original issue discount, and Gulf Finance LLC and Omnova Solutions Inc. began trading too.

ESH Hospitality’s $1.3 billion seven-year covenant-light term loan B quoted at par bid, 100½ offered, according to a market source.

Gulf Finance’s $1.15 billion seven-year senior secured term loan B was quoted at 97 bid, 97¾ offered, a trader said.

Omnova Solutions’ $350 million seven-year term loan B (B1/B+) was seen at 99 bid, 99½ offered, a market source remarked.

Also, Bowlmor AMF (AMF Bowling Center Inc.) saw its credit facility break for trading following revisions to the second-lien term loan that included lifting pricing, changing the original issue discount and modifying the call protection.

Furthermore, Aclara Technologies LLC’s (Meter Readings Holding LLC) term loan freed up after pricing finalized at the wide end of guidance, and XPO Logistics Inc. upsized its term loan B before breaking late in the session.

Continuing on the topic of secondary happenings, Chesapeake Energy Corp.’s term loan was noticeably higher from where it freed to trade late in the previous session.

Returning to the primary market, Dayton Power & Light Co. tightened the spread and issue price on its term loan B.

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