Long-Term Fallout Seen from SBA 7(a) Program's Latest Shutdown

By John Reosti

Small-business lenders and experts are beginning to debate whether the weeklong shutdown will underscore the program's bipartisan support — or give its critics more ammunition to argue that it is too vulnerable to politics.

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HD Supply Plans $850M Loan Refinancing

– The Atlanta-based industrial distributor announced plans for the new loan Monday, and met with lenders to establish price talk at Libor plus 300 bps with a 99.5-cent OID. The company will be refinancing the balance of a $1 billion loan issued in 2012.

C Spire Launches $250M Refi Offer

– Privately held wireless service provide C Spire is meeting with lenders today to discuss a proposed $250 million term loan B-1 refinancing. The new loan will replace an existing $250 million term loan that was issued in May 2013.

Pharmaceutical Product Development Prices $1.125B Bonds

– The proceeds will be combined with a refinanced senior secured credit facility to redeem existing debt.

Prolamina/Ampac Deadline Moved to Tuesday

– A deadline for lenders to commit to a new $560 million loans offering for the proposed merger of packaging companies Prolamina and Ampac has been accelerated to Tuesday.

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Carl 'Pepper' Whitbeck

Head of US Fixed Income

Firm: AXA Investment Managers

In the news: AXA IM’s Whitbeck: HY Poised for ‘One of the Largest New Issue Years to Date’

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