K&N Engineering, CommScope break; Tweddle Group, Horizon Pharma deal changes surface

By Sara Rosenberg

New York, Oct. 19 – K&N Engineering Inc. upsized its first-lien term loan B (B2/B+), downsized its second-lien term loan, firmed the spread on both tranches at the high end of guidance and then freed up for trading on Wednesday, and CommScope Inc. set the spread on its term loan B at the low end of talk before hitting the secondary market as well.

K&N Engineering’s first-lien term loan was quoted at 99¼ bid, and its second-lien term loan was quoted at 98 bid, a source said.

CommScope’s loan was quoted at 100 1/8 bid, 100 3/8 offered, according to a source.

In more happenings, Tweddle Group lifted pricing on its term loan B, revised the original issue discount, sweetened the call protection, shortened the maturity and made a number of other changes, and Horizon Pharma Inc. modified spread and original issue discount talk on its incremental term loan B.

Also on the new deal front, Harsco Corp., Infoblox Inc. and Expera Specialty Solutions LLC released price talk with launch, and Strike LLC came out with guidance on its term loan B ahead of its lender meeting.

Furthermore, American Casino & Entertainment Properties and CSRA Inc. joined this week’s primary calendar, and Tessera Technologies Inc. and Western Generation Partners (WGP Acquisition LLC) firmed timing on the bank meetings for their new loan deals.

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