Calpine, Blue Coat break; Roundy’s gains, Neiman weakens in trading; Avago, Veritas revised

By Sara Rosenberg

New York, Nov. 12 – Calpine Corp. set the original issue discount on its term loan B-6 at the tight end of talk and then surfaced in the secondary market on Thursday, and Blue Coat Systems Inc.’s add-on term loan freed to trade as well.

Additionally, Roundy’s Inc.’s term loan rallied in trading on the heels of news that the company is being acquired by The Kroger Co. and Neiman Marcus Group LLC’s term loan came under pressure.

In more happenings, Avago Technologies Cayman Finance Ltd. upsized its U.S. term loan B while firming the spread at the wide end of talk and adding a new euro term B, and Veritas Technologies Corp. reduced the size of its U.S. term loan B, added a tranche that underwriters will hold and widened spread talk and original issue discount on its U.S. and euro term debt.

Furthermore, Michigan Power LP LLC, West Corp., Allison Transmission Inc. and Oasis Outsourcing launched their deals to investors, and Azelis Group is getting ready to bring new loans to market.

In other news, PolyOne Corp. completed its $550 million seven-year senior secured covenant-light term B (Ba1/BB+), a news release said.

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