Party City better with earnings; Imagine! Print reworks deal; Travel Leaders OID emerges

By Sara Rosenberg

New York, March 10 – Party City Holdco Inc.’s term loan B headed higher in the secondary market on Thursday following the company’s release of favorable fourth quarter earnings results.

Party City’s term loan B was quoted at 98 bid, 99 offered, up from 97˝ bid, 98 offered, a trader said.

Moving to the primary market, Imagine! Print Solutions LLC upsized its term loan B, set the spread at the low end of guidance and tightened the original issue discount as the tranche was oversubscribed by investors.

Imagine! Print Solutions lifted its six-year term loan B to $325 million from $320 million, firmed pricing at Libor plus 600 basis points, the tight end of the Libor plus 600 bps to 625 bps talk, modified the original issue discount to 98.5 from 97 and extended the 101 soft call protection to one year from six months, a source remarked.

Additionally, Travel Leaders Group LLC released original issue discount talk on its add-on term loan with launch, and Western Digital Corp. set a bank meeting for pro rata lenders.

Travel Leaders Group held its bank meeting on Thursday, and original issue discount talk on its fungible $25 million add-on term loan (B+) was announced as 98.75, a market source said.

Western Digital scheduled a bank meeting for Tuesday to launch the pro rata portion of its credit facility, according to a market source.

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