Lyons Magnus frees up; NSO Group changes surface; Ultimate Software Group revises timeline

By Sara Rosenberg

New York, April 2 – Lyons Magnus Inc.’s add-on term loan made its way into the secondary market on Tuesday afternoon and was seen trading above its original issue discount.

Lyons Magnus’ fungible $75 million add-on term loan began trading on Tuesday, with levels quoted at 99 1/8 bid, 99˝ offered, a trader remarked.

Pricing on the add-on term loan is Libor plus 400 basis points with a 1% Libor floor, and it was sold at an original issue discount of 99.

RBC Capital Markets is leading the deal that will be used to fund an acquisition.

In connection with this transaction, pricing on the company’s existing term loan is being increased to Libor plus 400 bps from Libor plus 375 bps.

Paine Schwartz Partners is the sponsor.

Lyons Magnus is a developer, manufacturer and marketer of fruit and flavor solutions for the foodservice, health care and industrial dairy channels.

Meanwhile, in the primary market, NSO Group raised the spread, widened the issue price and sweetened the call protection on its term loan, and Ultimate Software Group Inc. moved up the commitment deadline on its first-lien term loan by a week.

Additionally, Momentive Performance Materials Inc. (MPM Holdings Inc.) and Wrench Group LLC released price talk with launch, and Hexion International Holdings BV and Neovia Logistics joined the near-term new issue calendar.

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