High Yield Calendar: $240 million and €640 million deals being marketed

July 13 Week

GC EOS BUYER, INC., doing business as BBB INDUSTRIES: $240 million five-year senior secured notes; UBS (left lead), BMO, Credit Suisse (joint books); Rule 144A and Regulation S for life; callable after two years at par plus 50% of coupon (10% of notes callable annually at 103 during non-call period); to repay funded bridge facility and fully repay funded ABL draw; Daphne, Ala.-based re-manufacturer of alternators and starters; investor call 11:30 a.m. July 14; pricing late July 13 week.

GAMMA BIDCO S.P.A (GAMENET GROUP): €640 million two-part senior secured notes due 2025: €340 million floating-rate notes callable after one year at 101, price talk Euribor plus 575 to 600 bps at 98, and €300 million fixed-rate notes callable after two years at par plus 50% of coupon, price talk 6¼% to 6½%; Credit Suisse (lead left books, global coordinator), Barclays, UniCredit (global coordinators), Banca IMI, BNP Paribas (joint books); Rule 144A and Regulation S; to refinance debt of Gamenet Group and Gamma Bidco; Rome-based online gaming company; books close Thursday.

On The Horizon

CINCINNATI BELL INC.: $493 million senior bridge loans, commitment from Goldman Sachs; also $1.6 billion credit facilities via Goldman Sachs, Regions, SG; to help fund acquisition of Cincinnati Bell by Macquarie Infrastructure Partners in transaction valued at $2.9 billion, expected to close first half of 2021; Cincinnati-based provider of integrated communications solutions; details from March 19 PRER14A filed with SEC.

ELANCO ANIMAL HEALTH INC.: $2.75 billion bridge loans and $3.75 billion credit facilities, debt commitment from Goldman Sachs; to help fund its acquisition of Bayer AG’s animal health business, targeted to close in mid-2020; Greenfield, Ind.-based animal health company; disclosed in 8-K document filed Aug. 20 with SEC.

GRAHAM PACKAGING CO. INC.: $1.9 billion split among unsecured notes, term loan and revolver; to repay existing debt at parent company Reynolds Group Holdings Ltd.; Graham Packaging is a York, Pa.-based supplier of food, beverage, household and automotive containers; disclosed in July 9 news release.

MARTIN MIDSTREAM PARTNERS LP: $400 million senior secured notes due 2025; Rule 144A and Regulation S; to refinance 7¼% senior notes due 2021 and for general partnership purposes; Kilgore, Tex.-based master limited partnership focused on marine transportation, terminalling, distribution and logistical services for producers and suppliers of hydrocarbon products, specialty chemicals and other liquids, primarily operating in the Gulf Coast region of the United States; announced in March press release.

Roadshows

Pricing late July 13 week: BBB INDUSTRIES $240 million; UBS.

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