High Yield Calendar: $2.4 billion being marketed

January 10 Week

FERTITTA ENTERTAINMENT, LLC, formerly known as GOLDEN NUGGET, LLC: $2.1 billion notes, downsized from $3.7 billion: $850 million seven-year senior secured first-lien notes (B1/B+) downsized from $1.85 billion, early guidance 4¾% area, increased from 4½% area, and $1.2 billion eight-year senior unsecured notes (Caa2/CCC+) downsized from $1.85 billion, early guidance 6½% to 6¾%, increased from 6¼% area; Jefferies, Capital One, Citigroup, Citizens, Deutsche Bank, KeyBanc, Morgan Stanley, Rabo, Truist (joint); Rule 144A and Regulation S for life; both tranches non-callable for three years; proceeds plus upsized $3.45 billion first-lien term loan (from $1.85 billion) to refinance debt and for general corporate purposes; Las Vegas-based entertainment and hospitality company; pricing Thursday.

MIWD HOLDCO II LLC: $400 million eight-year senior notes (B3//BB-); RBC (left books, bill and deliver), Credit Suisse, KeyBanc, M&T Securities (joint books); Rule 144A and Regulation S for life; callable after three years at par plus 50% of the coupon; to repay $293 million of the term loan B and fund a distribution to MIWD Holding Co. LLC to redeem $100 million in face value of its preferred units; parent of MI Windows and Doors, LLC, Gratz, Pa.-based supplier of windows and doors; investor call Tuesday; roadshow Tuesday through Thursday; pricing later in Jan. 10 week; initial guidance low 6% area.

TEREOS FINANCE GROUPE SA: €300 million senior notes due April 2027 (expected ratings B+/B+); BNP Paribas (global coordinator, bill and deliver), Natixis, Rabobank (global coordinators), Commerzbank, Credit Agricole CIB, CIC, ING (co's); Rule 144A and Regulation S; callable after two years at par plus 50% of coupon; proceeds plus balance sheet cash to fund tender for 4 1/8% notes due 2023, and to repay bank debt; cooperative conglomerate, primarily active in the processed agricultural raw materials, including the sugar, alcohol and starch markets, based in Moussy-le-Vieux, France; roadshow through Jan. 13.

On The Horizon

ENTEGRIS INC.: Up to $895 million 364-day senior unsecured bridge loan, and up to $4 billion term loan B; Morgan Stanley; proceeds plus cash on hand to fund the cash portion of the acquisition of CMC Materials Inc., expected to close in the second half of 2022, also refinance certain CMC and Entegris debt, to fund working capital and for general corporate purposes; Billerica, Mass.-based Entegris and Aurora, Ill.-based CMC Materials supply products and services to the semiconductor industry; financing disclosed in 8-K filed with SEC on Dec. 16.

MCAFEE CORP.: $2.32 billion senior unsecured bridge facility, which may be replaced with senior notes; also $7.66 billion credit facilities; debt commitment from JPMorgan, BofA, Credit Suisse, Barclays, Citigroup, HSBC, RBC, CPPIB, UBS, PSP; to help fund its acquisition by an investor group led by Advent International Corp., Permira Advisers LLC, Crosspoint Capital Partners, Canada Pension Plan Investment Board, GIC Private Ltd. and Abu Dhabi Investment Authority, expected to close in first half of 2022; San Jose, Calif.-based provider of online protection for consumers; information from 8-K filed with SEC on Nov. 8.

PRINCE INTERNATIONAL CORP.: $1.26 billion senior notes and $2.27 billion credit facilities, debt commitment from Barclays and Credit Suisse; proceeds plus $200 million of equity to help fund its acquisition of Ferro Corp., expected to close in the first quarter of 2022; Prince is a Houston-based supplier of specialty products for niche applications in the construction, electronics, consumer products, agriculture, automotive, oil & gas, industrial and other end markets; disclosed in PREM14A filed with SEC.

SPX FLOW INC.: $570 million senior unsecured bridge loan expected to be replaced by senior notes issue; also $1.74 billion senior secured credit facilities; debt commitment from Citigroup, BofA, RBC, Truist, BNP Paribas, Deutsche Bank; to help fund buyout by Lone Star Funds, expected to close in first half of 2022, to refinance debt and for general corporate purposes; Charlotte, N.C.-based provider of process solutions for the nutrition, health and industrial markets; disclosed in PREM14A filed on Jan. 11 with SEC.

Roadshows

Pricing Jan. 13: GOLDEN NUGGET $2.1 billion; Jefferies

Jan. 11-13: MIWD HOLDCO II $400 million; RBC

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