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Vizient, Keurig break; TransDigm weakens with numbers; Fieldwood Energy drops on downgrade
By Sara Rosenberg
New York, Feb. 9 – Vizient Inc.’s credit facility freed up for trading on Tuesday, with the term loan quoted above its original issue discount, and Keurig Green Mountain Inc.’s U.S. term loan B hit the secondary too once size and issue price firmed up.
Vizient’s $1,275,000,000 seven-year secured term loan was quoted at 97¾ bid, 98¾ offered, according to a trader.
Keurig’s $1,875,000,000 U.S. seven-year covenant-light term loan B was seen at 98¼ bid, 98¾ offered, a trader remarked.
In more trading news, TransDigm Group Inc.’s term loan C was softer with disappointing first quarter earnings results, and Fieldwood Energy LLC’s term debt retreated on the back of a ratings downgrade.
TransDigm’s term loan C was quoted at 97 bid, 97¾ offered, down from 97½ bid, 98 offered, the trader said.
Fieldwood Energy’s first-lien term loan was quoted at 59 bid, 61 offered, down from 63 bid, 65 offered, and the second-lien term loan was quoted at 15½ bid, 17½ offered, down from 16 bid, 18 offered, a trader said.
Switching to the primary market, Endurance International Group Holdings Inc. (EIG Investors Corp.) withdrew syndication of its $735 million incremental seven-year first-lien term loan as a result of poor market conditions, and Solera Holdings Inc. disclosed price talk on its term loan B in connection with its bank meeting.
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