Ascend Learning hits secondary; Invenergy reveals talk; Jarden, 888, Ardent set launches

By Sara Rosenberg

New York, July 17 – Ascend Learning tightened the original issue discount on its add-on term loan, and then the debt freed up for trading during Friday’s market hours above the revised issue price.

In more happenings, Invenergy Thermal Operating I LLC released talk on its term loan, Jarden Corp. came out with timing on the launch of its incremental term debt, and 888 Holdings Ltd. plc and Ardent Legacy Acquisitions Inc. emerged with new deal plans.

At a bank meeting on Friday, Invenergy’s $537 million term loan was talked at Libor plus 525 basis points to 550 bps with a 1% Libor floor.

Jarden has scheduled a lender call for Monday to launch new term loan debt, although loan details were not yet available.

888 Holdings will launch a $650 million-equivalent credit facility, split into a $600 million term loan with dollar and euro tranches and a $50 million multi-currency revolver, with bank meetings scheduled for Tuesday and Wednesday.

And Ardent will hold a lender call on Monday to launch a $250 million term loan.

In other news, right leads on Lightower Fiber Networks’ proposed $829 million add-on term loan were announced. The add-on term loan is scheduled to launch with a lender call on Tuesday.

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