Medical Solutions, Excel Fitness, MDVIP free to trade; DuBois tweaks loan amounts

By Sara Rosenberg

New York, Oct. 3 – Medical Solutions reworked its incremental first- and second-lien term loan sizes and firmed the spread on the first-lien debt at the high end of guidance before breaking for trading on Thursday, and deals from Excel Fitness Holdings Inc. and MDVIP LLC surfaced in the secondary market too.

Specifically, Medical Solutions raised its fungible incremental first-lien term loan due June 2024 to $291 million from $270 million and set pricing at Libor plus 450 basis points, the high end of the Libor plus 425 bps to 450 bps talk.

With the first-lien upsizing, the non-fungible incremental second-lien term loan due June 2025 was scaled back to $75 million from $100 million.

Medical Solutions’ loans broke for trading with the incremental first-lien term loan quoted at 99¼ bid, 99¾ offered and the incremental second-lien term loan quoted at 98 bid, par offered.

Excel Fitness’ $260 million first-lien term loan started trading with levels seen at 99 bid, par offered, and MDVIP’s fungible $45 million incremental first-lien term loan broke with levels quoted at 99 bid, par offered.

In more happenings, DuBois Chemicals Inc. downsized its first- and second-lien term loans, Iridium Satellite LLC, ProQuest LLC, Syncsort Inc., Flexitallic and Delek US Holdings Inc. disclosed price talk with launch, and Buckeye Partners LP joined the near-term primary calendar.

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