Invenergy Thermal, Integro free to trade; Sirius Computer, Greatbatch deal revisions surface

By Sara Rosenberg

New York, Oct. 9 – Invenergy Thermal Operating I LLC’s first-lien term loan B emerged in the secondary market on Friday, with levels quoted above its original issue discount, and Integro Ltd.’s credit facility began trading as well.

Invenergy’s $340 million seven-year term loan B traded with levels seen at 98½ bid, 99½ offered, according to a trader.

Integro’s first-lien term debt was quoted at 96¼ bid, 97¼ offered, and the second-lien term debt was quoted at 98 bid, par offered, a trader said.

Moving to the primary market, Sirius Computer Solutions Inc. lifted spreads on its first- and second-lien term loans while also widening original issue discounts and extended the call protection on the first-lien tranche.

Also, Greatbatch Ltd. raised pricing on its term loan B and upsized its term loan A, and timing emerged on the launch of Lannett Co. Inc.’s credit facility.

Greatbatch widened pricing on its $1,025,000,000 seven-year term loan B to Libor plus 425 bps from Libor plus 375 bps, a market source remarked.

Additionally, the company upsized its six-year term loan A to $375 million from $300 million as its proposed bond offering was downsized to $360 million from $435 million, the source continued.

Lannett set a bank meeting for 11 a.m. ET in New York on Tuesday to launch its previously announced $1,285,000,000 senior secured credit facility, a market source said.

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