Advanced Integration Technology, Plaskolite free to trade; Burlington on deck with repricing

By Sara Rosenberg

New York, July 15 – Advanced Integration Technology LP’s credit facility made its way into the secondary market on Friday, with levels on the term loan quoted above its original issue discount, and Plaskolite LLC’s add-on first-lien term loan broke too.

Advanced Integration Technology’s $225 million five-year first-lien term loan was quoted at 99¼ bid, 99¾ offered, according to a market source.

Plaskolite’s fungible $70 million add-on first-lien term loan (B) had levels seen at 99 7/8 bid, 100 3/8 offered, a trader remarked.

Prior to the add-on loan breaking, the existing term loan was quoted in the morning at those same 99 7/8 bid, 100 3/8 offered levels, the trader added.

Meanwhile, in the primary market, Burlington Stores Inc. is getting ready to bring a term loan repricing transaction to market, and talk is that WireCo WorldGroup Inc.’s recently launched credit facility has already seen strong interest from investors.

Burlington Stores scheduled a lender call for 10 a.m. ET on Monday to launch a repricing of its $1,115,000,000 term loan due 2021 that is talked at Libor plus 275 bps to 300 bps with a 0.75% Libor floor, according to a market source.

WireCo’s $410 million senior secured seven-year term loan B (B2/B+) is heard to already be oversubscribed well ahead of its commitment deadline at noon ET on July 22, according to a market source.

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