Bank Loan Calendar: $11.198 billion deals being marketed

June Bank Meetings

KOFAX: Lender call June 6; $1.373 billion of term loans; JPMorgan, Credit Suisse, UBS, Jefferies, Blackstone, PSP Investments, Wells Fargo, Antares, Security Benefit, BMO, Goldman Sachs, KKR, Stone Point and Brinley; $1.025 billion seven-year first-lien term B (B2/B/BB-); $348 million privately placed second-lien term loan (Caa2/CCC+/CCC+); also €300 million seven-year first-lien term B (B2/B/BB-); help fund buyout by Clearlake Capital Group LP and TA Associates from Thoma Bravo; Irvine, Calif., provider of intelligent automation software to facilitate digital workflow transformations.

Upcoming Closings

CDK GLOBAL INC.: $4 billion credit facilities; Credit Suisse, Goldman Sachs, BMO, Barclays, Deutsche Bank, RBC, TD Securities, Wells Fargo, BofA Securities, BNP Paribas, CIBC, Scotia, Credit Agricole, MUFG, Societe Generale and Golub; $650 million revolver; $3.35 billion seven-year first-lien term loan (B1/B+) talked at SOFR plus 475 bps to 500 bps, 0.5% floor, OID 95 to 96, 101 soft call for six months; help fund buyout by Brookfield Business Partners; Hoffman Estates, Ill., automotive retail technology company.

IMPERIAL DADE (BCPE EMPIRE HOLDINGS INC.): $650 million incremental first-lien term loan (B3/B-) due June 11, 2026 talked at SOFR+10 bps CSA plus 462.5 bps, 0.5% floor, OID 95, 101 soft call for six months; Credit Suisse, Goldman Sachs, Barclays, BMO, Citizens, Stifel and Brinley Partners; repay revolver borrowings and help fund the acquisition of a 45% equity stake by Advent International from Bain Capital Private Equity; Jersey City, N.J., distributor of foodservice disposables and janitorial sanitation products.

INTERTAPE POLYMER GROUP INC. (IRIS HOLDING INC.): $1.75 billion credit facilities; Credit Suisse, Deutsche Bank, Goldman Sachs, Jefferies and BMO; $250 million ABL revolver (Ba3); $1.5 billion six-year first-lien term loan (B2/B) talked at SOFR+10 bps CSA plus 475 bps, 0.5% floor, OID 93 to 94, 101 soft call for six months; help fund buyout by Clearlake Capital Group LP; Montreal and Sarasota, Fla.-based provider of packaging and protective solutions.

MATERIAL HANDLING SYSTEMS (PROJECT CASTLE): $1.425 billion seven-year term B (B3/B-) talked at SOFR plus 500 bps, 25 bps step-down upon an IPO, 0.5% floor, OID 96 to 97, 101 soft call for six months; JPMorgan, Morgan Stanley, RBC, UBS, Credit Suisse, Stifel, SMBC, KeyBanc and Citizens; help fund merger with Fortna; provider of parcel, warehouse and distribution, and lifecycle services.

MAXAR TECHNOLOGIES INC.: $2 billion credit facilities (B2/B); RBC; $500 million five-year revolver; $1.5 billion seven-year term B talked at SOFR+CSA plus 400 bps to 425 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, OID 96, 101 soft call for six months; help refinance an existing term B and notes; Westminster, Colo., provider of comprehensive space solutions and secure, precise, geospatial intelligence.

On The Horizon

BBB INDUSTRIES LLC: New debt financing; JPMorgan; help fund buyout by Clearlake Capital Group LP; Daphne, Ala., sustainable manufacturer of automotive replacement parts.

BETTCHER INDUSTRIES: $200 million incremental first-lien term loan; UBS, KKR and Jefferies; help fund acquisition of Frontmatec from Axcel; Birmingham, Ohio, developer and manufacturer of precision cutting and trimming tools for food processing and industrial applications.

CITRIX SYSTEMS INC.: $8.05 billion senior secured credit facilities; BofA Securities, Credit Suisse, Goldman Sachs, Barclays, Citigroup, Deutsche Bank, KKR, Mizuho, Morgan Stanley and RBC; $1 billion revolver; $7.05 billion term loan; help fund buyout by Vista Equity Partners and Evergreen Coast Capital Corp. and merger with Tibco Software; Fort Lauderdale, Fla., provider of secure, unified digital workspace technology.

CORPORATION SERVICE CO. (CSC): $2.35 billion term B (B1/BB-/BBB-); BofA Securities, Jefferies and Wells Fargo; also €1 billion term A (B1/BB-/BBB-); help fund acquisition of Intertrust NV; Wilmington, Del., provider of corporate, legal, tax and digital brand services.

COVETRUS: $2.25 billion credit facilities; Deutsche Bank, UBS, BMO and Mizuho; $300 million revolver; up to $1.525 billion of first-lien term loans; $425 million second-lien term loan; help fund buyout by Clayton, Dubilier & Rice and TPG Capital; Portland, Maine, animal-health technology and services company.

DAVE & BUSTER’S ENTERTAINMENT INC.: Up to $1.35 billion senior secured credit facilities; Deutsche Bank, JPMorgan and BMO; up to $500 million five-year revolver; up to $850 million seven-year covenant-lite term B expected at SOFR plus 425 bps, 0.5% floor, 101 soft call for six months; help fund acquisition of Main Event from Ardent Leisure Group Ltd. and RedBird Capital Partners; Coppell, Tex., owner and operator of entertainment and dining venues.

DSM ENGINEERING MATERIALS: €2.9 billion equivalent term loan; Goldman Sachs, Barclays, UBS and BNP Paribas; help fund acquisition by Advent International and Lanxess from Royal DSM; supplier of engineering and high-performance polymers.

EPIC STAFFING GROUP: New debt financing; Truist and Wells Fargo; help fund acquisition by The Pritzker Organization LLC; El Segundo, Calif., provider of outsourced employment to the biopharmaceutical and healthcare industries.

HEMISPHERE MEDIA GROUP INC.: $395 million credit facilities; Wells Fargo, Truist, Fifth Third and Deutsche Bank; $35 million revolver; $360 million first-lien term loan; help fund buyout by Gato Investments LP; Coral Gables, Fla., pure-play media company targeting the U.S. Hispanic and Latin American markets.

KAMAN CORP.: New debt financing; help fund acquisition of Parker-Hannifin Corp.’s aircraft wheel & brake division; Bloomfield, Conn., provider of products and systems related to bearings, mechanical and electrical power transmission, automation & control, material handling, and fluid power for the MRO and OEM markets.

MAXLINEAR INC.: $3.5 billion senior secured credit facilities; Wells Fargo; $250 million five-year revolver expected at SOFR plus 225 bps, 0% floor; $3.25 billion seven-year covenant-lite term B expected at SOFR+CSA plus 300 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, 101 soft call for six months; help fund acquisition of Silicon Motion; Carlsbad, Calif., provider of radio frequency, analog and mixed-signal integrated circuits for broadband, connectivity, and infrastructure markets.

MONEYGRAM INTERNATIONAL INC.: Up to $850 million senior secured credit facilities; Goldman Sachs, Deutsche Bank, Barclays and Wells Fargo; up to $150 million revolver; $700 million first-lien term loan; help fund buyout by Madison Dearborn Partners LLC; Dallas-based digital P2P payments company.

NIELSEN HOLDINGS PLC: $9.15 billion secured credit facilities; BofA Securities, Barclays, Mizuho, Credit Suisse, Citigroup, HSBC, KKR, Nomura, Ares, BMO, Goldman Sachs, Jefferies, Macquarie, Morgan Stanley, RBC, Truist, BNP Paribas, CIBC, Fifth Third and MUFG; $650 million revolver; $6.35 billion first-lien term loan; $2.15 billion privately placed second-lien term loan help fund buyout by Evergreen Coast Capital Corp. and Brookfield Business Partners LP; New York-based provider of audience measurement, data and analytics.

RIPIC HOLDINGS: $2.25 billion credit facilities; UBS, RBC, BNP Paribas, BMO, Mizuho and Natixis; $300 million revolver; $1.95 billion of term loans; help fund acquisition of a 51% interest in Roper Technologies Inc.’s industrial businesses by Clayton, Dubilier & Rice LLC.

TEGNA INC.: $4 billion senior secured credit facilities; RBC, BofA Securities, Goldman Sachs, Truist, BNP Paribas, Credit Suisse, Jefferies, Mizuho, TD Securities, Barclays, Deutsche Bank, MUFG, Citizens and SMBC; $500 million revolver; $3.5 billion term loan; help fund buyout by Standard General; Tysons, Va., media company.

TENNECO: $3 billion senior secured credit facilities; $600 million revolver; $2.4 billion first-lien term loan; help fund buyout by Apollo; Lake Forest, Ill., designer, manufacturer and marketer of automotive products for original equipment and aftermarket customers.

TWITTER INC.: $7 billion credit facilities; Morgan Stanley, BofA Securities, Barclays, MUFG, BNP Paribas, Mizuho and Societe Generale; $500 million five-year revolver expected at SOFR plus 450 bps, 0% floor; $6.5 billion seven-year covenant-lite term loan expected at SOFR plus 475 bps, 0.5% floor, 101 soft call for six months; help fund acquisition by Elon Musk; San Francisco-based free online social networking microblogging service.

VERTEX CO.: Up to $360 million of incremental loans; RBC, Stifel, MUFG and Citizens (on term loan), Ally Bank on ABL; up to $260 million incremental term loan; up to $100 million incremental ABL facility; refinance debt at Vectrus Inc. in connection with merger, redeem certain preferred stock of Vertex, and working capital and general corporate purposes; provider of integrated solutions and critical service offerings.

© 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.