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PODS, Angus break; Advanced Computer, Global Knowledge update deals; Acadia sets talk
By Sara Rosenberg
New York, Jan. 28 – PODS LLC’s credit facility emerged in the secondary market on Wednesday with both the first- and second-lien term loans quoted above their original issue discounts, and Angus Chemical Co. saw its loan free up as well.
Over in the primary market, Advanced Computer Software Group widened spreads as well as offer prices and sweetened call premiums on its U.S. dollar-equivalent first- and second-lien term loans, and Global Knowledge Training LLC modified the original issue discount on its first-lien term loan.
Also, Acadia Healthcare Co. Inc. released talk with launch, Select Staffing (Koosharem LLC) revealed original issue discount talk on its in-market tack-on term loan, and AssuredPartners Capital Inc. joined this week’s calendar.
PODS’ credit facility broke for trading on Wednesday with the $410 million seven-year first-lien covenant-light term loan B (B1/B+) quoted at par bid, par ½ offered and the $150 million eight-year second-lien covenant-light term loan (Caa1/CCC+) quoted at par ¼ bid, 101¼ offered, according to one trader.
A second trader had the first-lien term loan at par ¼ bid, par ¾ offered and the second-lien loan at 101 bid.
Pricing on the first-lien term loan is Libor plus 425 basis points with a 1% Libor floor and it was sold at an original issue discount of 99½. There is 101 soft call protection for one year.
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