ExGen breaks; Scientific Games, Aecom, DPx, PGT reworked; Answers, Victory set talk

By Sara Rosenberg

New York, Sept. 16 – ExGen Texas Power LLC downsized its term loan, increased the spread, set the original issue discount at the high end of talk, extended the call protection and then hit the secondary market on Tuesday.

In more happenings, Scientific Games Corp. lifted the size of its term loan B-2 while also widening the spread, and Aecom Technology Corp. reduced pricing on its term loan and sweetened the call protection.

Also, DPx Holdings BV carved out a euro tranche from its term loan and firmed the offer price on the U.S. piece at the wide end of guidance, and PGT Inc. trimmed pricing on its term loan B, pushed out the call protection and moved up the commitment deadline.

Furthermore, Answers Corp. and Victory Capital Management revealed price talk on their deals with launch, and Zebra Technologies Corp., Halyard Health Inc. and Sedgwick Inc. joined this week’s calendar.

ExGen Texas Power cut its seven-year covenant-light term loan B (B1/BB-) to $675 million from $700 million, raised pricing to Libor plus 475 basis points from talk of Libor plus 400 bps to 425 bps, set the original issue discount at 99, the wide end of the 99 to 99½ talk, and extended the 101 soft call protection to one year from six months, according to a market source, who said the 1% Libor floor was unchanged.

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