Navios, Hyland, Royal Adhesives, Ascend Learning break; Spectrum, Mauser update deals

By Sara Rosenberg

New York, June 12 – Navios Maritime Midstream Partners LP firmed pricing on its $205 million five-year term loan B at the wide end of talk, added an interest covenant of 3.75 times and then freed up for trading on Friday, and Hyland Software Inc., Royal Adhesives & Sealants LLC and Ascend Learning broke as well.

In more happenings, Spectrum Brands Inc. finalized pricing on its $1.45 billion seven-year covenant-light term loan at Libor plus 300 bps, the wide end of talk, added a 25 bps step-down at 2 times net first-lien leverage and modified the original issue discount to 99.75 from 99.5, according to a market source.

Additionally, the spread on its €300 million seven-year covenant-light term loan firmed at Euribor plus 275 bps, the low end of the Euribor plus 275 bps to 300 bps guidance, while pricing on its C$75 million seven-year covenant-light term loan finalized at BA plus 350 bps, the low end of the BA plus 350 bps to 375 bps talk.

In other news, Mauser Group set the original issue discount on its €89 million U.S. dollar-equivalent add-on term loan at 99.5, the tight end of guidance.

Also, ION Trading Technologies Sarl released talk on its add-on term loan, Minerals Technologies Inc. launched a refinancing/repricing transaction, and Tribune Media Co. and Daseke Inc. joined the near-term primary calendar.

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