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Alliant Insurance, Universal Services, Numericable break; Hostess, Jarden changes revealed
By Sara Rosenberg
New York, July 27 – Alliant Insurance Services Inc. (Alliant Holdings I LP) cut pricing on its term loan B, modified the issue price, extended the call protection and then freed up for trading on Monday, and Universal Services of America and Numericable surfaced in the secondary too.
Universal Services of America’s $835 million seven-year first-lien covenant-light term loan and $245 million eight-year second-lien covenant-light term loan were seen at 99˝ bid, par offered, according to a trader.
Numericable’s term debt also hit the secondary market, with the $550 million seven-year first-lien covenant-light term loan (Ba3/B+) quoted at 99 7/8 bid, 100 1/8 offered, a market source said.
In more happenings, Hostess moved some funds between its first- and second-lien term loans, firmed spreads at the low end of guidance and tightened original issue discounts, and Jarden Corp. increased its term debt amount, set tranche sizes and finalized issue prices.
Also, Garda World Security Corp. details emerged with launch, and CPI Card Group, Albany Molecular Research Inc., Emdeon Inc., ICON Health & Fitness, Electrical Components International Inc., PODS LLC and Graton Resort & Casino joined this week’s calendar.
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