MKS breaks; Vistra, Virgin Media, GTT Communications, Masergy, Mister Car Wash revise deals

By Sara Rosenberg

New York, Dec. 12 – MKS Instruments Inc.’s repriced term loan B surfaced in the secondary market on Monday, with levels quoted well above its issue price.

MKS Instruments’ $628 million covenant-light term loan B due April 29, 2023 was quoted at 101 bid, 102 offered, according to a trader.

Over in the primary market, Vistra Operations Co. LLC tightened the spread, Libor floor and original issue discount on its term loan B-2, and Virgin Media set pricing on its term loan I at the low end of guidance and modified the issue price.

Also, GTT Communications Inc. trimmed pricing on its term loan B and revised the original issue discount, and Masergy Communications Inc. increased the size of its first-lien term loan and updated first- and second-lien pricing.

In addition, Mister Car Wash upsized its add-on term loan while tightening the spread and issue price and adding a leverage-based step-down, and Calpine Corp. and Vertafore (VF Holding Corp.) emerged with repricing transactions.

Furthermore, Consolidated Communications Inc. and Halyard Health Inc. released price talk on their loans with launch, and Sinclair Television Group Inc. joined this week’s primary calendar.

Sinclair Television Group set a lender call for Tuesday to launch an extension of its term loan B debt due April 9, 2020 and July 31, 2021 into one term loan B tranche due January 2024.

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