Intertape loan partially rebounds; Belfor updated; ITP Aero sets talk on term loan

By Sara Rosenberg

New York, Oct. 24 – Intertape Polymer Group Inc. (Iris Holdings Inc.) saw its term loan move higher in the secondary market on Tuesday, recouping some of the losses it experienced in the prior session following a ratings downgrade by S&P Global Ratings.

Intertape Polymer’s first-lien term loan was quoted at 89 bid, 92 offered on Tuesday, up from Monday’s closing levels of 86 bid, 88 offered but down from Monday morning levels of 93½ bid, 94½ offered, according to a market source.

Meanwhile, in the primary market, Belfor set the spread on its U.S. term loan B at the low end of talk, firmed pricing on its euro term loan B at the high end of guidance and widened the original issue discount on the euro tranche, and ITP Aero (Propulsion (BC) Newco LLC) released original issue discount talk on its add-on term loan B.

Also, Ryan LLC joined this week’s new issue calendar with a new funded and delayed-draw first-lien term loan transaction, Amneal Pharmaceuticals emerged with plans for a term loan B amendment and extension proposal, and A-Gas FinCo Inc. is coming to market this week with a buyout financing term loan.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.