AmWINS, Regal Cinemas, B/E Aerospace, AdvancePierre, CHG, Presidio break; Cengage revised

By Sara Rosenberg

New York, May 26 – Deals from AmWINS Group LLC, Regal Cinemas Corp. and B/E Aerospace Inc. began trading on Thursday, and AdvancePierre Foods Inc.’s term loan B hit the secondary market after an upsizing and the cancellation of plans for an amended second-lien term loan.

Also, CHG Healthcare Services Inc. trimmed the spread on its term loan B, modified the issue price and extended the call protection, and Presidio Inc. increased the size of its incremental first-lien term loan and tightened the original issue discount, and then both of these deals broke for trading as well.

Furthermore, Cengage Learning Inc. raised the size of its term loan B and lowered the spread, and Aspen Dental Management Inc. moved up the commitment deadline on its add-on term loan B and repricing.

In addition, St. George’s University, West Corp., Ferrara Candy Co. Holdings Inc., Prospect Medical Holdings Inc. and ABB Optical Group all surfaced with new loan plans.

AmWINS Group’s $902 million first-lien covenant-light term loan due September 2019 began trading on Thursday, with levels quoted at par ˝ bid, 101 offered, according to a trader.

Pricing on the loan is Libor plus 375 basis points with a 1% Libor floor and it was issued at par. The debt has 101 soft call protection for six months.

Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. and Barclays are leading the deal that is being used to reprice the existing first-lien term loan from Libor plus 425 bps with a 1% Libor floor.

AmWINS is a Charlotte, N.C.-based specialty insurance broker.

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