National Financial, Sinclair, Wausau Paper, CCS break; Amaya, iParadigms, Key Safety revised

By Sara Rosenberg

New York, July 22 – National Financial Partners Corp., Sinclair Television Group Inc., Wausau Paper Corp. and Correct Care Solutions (CCS Intermediate Holdings LLC) all saw their loans hit the secondary market on Tuesday.

Meanwhile, in the primary, Amaya Gaming Group Inc. (Amaya BV and Amaya (US) Co-Borrower LLC) added a euro tranche to its first-lien term loan and reduced its U.S. tranche so that the total size of the loan was unchanged.

Also, iParadigms Holdings LLC increased its first- and second-lien term loan sizes, tightened the offer price on its first-lien tranche and lowered the spread on its second-lien tranche, Key Safety Systems Inc. revised its first-lien tranche sizes, eliminated its second-lien loan and adjusted first-lien term loan pricing, and Citgo Petroleum Corp. accelerated the commitment deadline on its term loan.

Furthermore, Goodpack Ltd. (IBC Capital), Platform Specialty Products Corp. (MacDermid Inc.), Element Materials Technology and Zest Holdings LLC released price talk with launch, and Regent Energy Group Ltd. and Orion Engineered Carbons joined the near-term calendar.

National Financial Partners’ $867 million covenant-light term loan B due July 2020 freed up for trading on Tuesday, with levels quoted at par 1/8 bid, par 5/8 offered, according to a market source.

Pricing on the loan is Libor plus 350 basis points with a 1% Libor floor and it was issued at par. There is 101 soft call protection for six months.

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