Vistra Group breaks; Kenan Advantage accelerates deadline; CGG terminates term loan plans

By Sara Rosenberg

New York, July 21 – Vistra Group’s credit facility freed up for trading on Tuesday, and Numericable’s term loan debt was slightly lower to unchanged following word that the company is seeking additional term loan borrowings.

Vistra’s $257.5 million seven-year first-lien covenant-light term loan (B1) was quoted at par bid, 100¾ offered, and the €238 million seven-year first-lien covenant-light term loan (B1) was quoted at 100¼ bid, 101 offered, according to a trader.

In addition, the company’s $100 million eight-year second-lien term loan (B2) and its €78.5 million eight-year second-lien term loan (B2) were seen at par bid, the trader said.

Numericable’s term loan B-1 and B-2 debt was quoted by some traders as a little weaker on the day and by others as unchanged after the company launched a new €800 million-equivalent U.S. dollar and euro seven-year first-lien covenant-light term loan.

Meanwhile, in the primary market, Kenan Advantage Group Inc. moved up the commitment deadline on its credit facility, and CGG Holding (U.S.) Inc. withdrew its term loan from market.

Also, Cast & Crew Entertainment Services, Hill-Rom Holdings Inc. and 888 Holdings Ltd. plc came out with price talk with launch, Lightower Fiber Networks and Mohegan Tribal Gaming Authority circulated original issue discount guidance on their add-on term loans, and Asurion LLC and Antares Capital surfaced with new deal plans.

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