Bank Loan Calendar: $5.74 billion deals being marketed

Upcoming Closings

A-GAS FINCO INC.: $520 million seven-year senior secured covenant-lite term B (B2/B) talked at SOFR plus 500 bps, 25 bps step-downs at 0.5x and 1x inside opening senior secured net leverage, 0% floor, OID 96 to 97, 101 soft call for six months; Citigroup, HSBC, Guggenheim and Truist; help fund acquisition of a majority stake by TPG from KKR; U.K.-based supplier and lifecycle manager of refrigerant and industrial gases, fire suppressants and blowing agents.

AMERICAN AIRLINES INC.: Expected closing Dec. 4; $1.1 billion 5.5-year term B (Ba2/BB/BB-) at SOFR plus 350 bps, 0% floor, OID 99, 101 soft call for six months; Citigroup, BofA Securities, Morgan Stanley, Barclays, Deutsche Bank, Goldman Sachs, JPMorgan, SMBC, BNP Paribas, Credit Agricole, MUFG, US Bank and Bank of Texas; help refinance notes; Fort Worth airline company.

AUGUSTA SPORTSWEAR BRANDS: $390 million senior secured credit facilities; Antares; $50 million revolver; $340 million six-year covenant-lite term loan talked at SOFR plus 600 bps, 1% floor, OID 98, hard call 102, 101; support buyout by Platinum Equity; Grovetown, Ga., supplier of team uniforms and off-field performance wear.

CULLIGAN INTERNATIONAL CO. (AI AQUA MERGER SUB INC.): Expected closing Dec. 29; $1.15 billion senior secured incremental covenant-lite first-lien term B (including $200 million unfunded delayed-draw tranche) due July 30, 2028 (B3/B) at SOFR plus 425 bps, 25 bps step-down at 4.75x net first-lien leverage, 0.5% floor, OID 97, 101 soft call for six months; Morgan Stanley, JPMorgan, BofA Securities and Goldman Sachs; fund acquisition of Primo Water Corp.’s international businesses (Primo Europe), repay revolver borrowings and add cash to the balance sheet; Rosemont, Ill., provider of water treatment products and services.

EVERISE: $425 million seven-year covenant-lite term B (B3/B-) talked at SOFR plus 550 bps to 575 bps, 0% floor, OID 97, 101 soft call for six months; BMO, Standard Chartered, ING, Scotia and Societe Generale; fund acquisition of a roughly 47% equity stake in the company by Warburg Pincus from Brookfield Asset Management and other shareholders; Plantation, Fla., health care services outsourcing company.

GREENWAY HEALTH LLC: $375 million 5.25-year first-lien term loan (B3/B-) talked at SOFR plus 575 bps to 600 bps, 0% floor, OID 97, 101 soft call for one year; Jefferies; refinance existing debt; Tampa, Fla., provider of software solutions to office-based physician practices and community health centers.

NORTHEAST GROCERY INC.: $550 million five-year term B (B+/BB+) talked at SOFR plus 750 bps, 1% floor, OID 96 to 97, non-call one, 103, 101; Deutsche Bank, UBS and BofA Securities; refinance existing debt; Schenectady, N.Y., traditional food retailer.

NORTHSTAR GROUP SERVICES INC.: $835 million credit facilities; Macquarie; $125 million four-year ABL revolver; $710 million five-year covenant-lite first-lien term loan (B2/B+) talked at SOFR plus 525 bps, 0% floor, OID 97.5 to 98, 101 soft call for six months; refinance existing credit facilities; New York-based provider of diversified infrastructure and environmental services.

PREMISTAR: $75 million add-on covenant-lite first-lien term loan due August 2028 talked at SOFR plus 450 bps, 0.75% floor, OID 99.03; Truist; general corporate purposes, including acquisitions; Deerfield, Ill., provider of commercial heating, ventilation and air conditioning services.

TRANSNETWORK LLC: $320 million term B (B2/B) at SOFR plus 550 bps, 0.5% floor, OID 98, 101 soft call for six months; Truist; fund acquisition of PNC Payment Holdings Inc. and refinance existing debt; Houston-based payment processor.

On The Horizon

APOTEX PHARMACEUTICAL HOLDINGS INC.: New debt financing; RBC, Scotia, HSBC and Truist; help fund buyout by SK Capital Partners LP; Toronto-based pharmaceutical company.

CEDAR FAIR/SIX FLAGS: New debt financing; Goldman Sachs; $800 million of revolving credit commitments; refinance some existing debt in connection with merger of Cedar Fair and Six Flags Entertainment Corp.; Charlotte, N.C., amusement park operator.

CSG ELEVATE II INC.: New debt financing; JPMorgan; help fund acquisition of Vista Outdoor Inc.’s Sporting Products business by Czechoslovak Group; Anoka, Minn., ammunition manufacturer.

DAVIS-STANDARD LLC: New debt financing; Wells Fargo, BMO, UBS, Deutsche Bank, Stifel and Citizens; fund acquisition of the Extrusion Technology Group from Nimbus; Pawcatuck, Conn., provider of extrusion equipment and services.

HERSHA HOSPITALITY TRUST: New debt financing; Wells Fargo and Citigroup; help fund buyout by KSL Capital Partners LLC; Harrisburg, Pa. real estate investment trust that owns luxury and lifestyle hotels.

HILTON GRAND VACATIONS INC.: $900 million seven-year senior secured term loan (Ba2); BofA Securities, Deutsche Bank, Barclays and JPMorgan; help fund acquisition of Bluegreen Vacations; Orlando, Fla., timeshare company.

ROSEN GROUP: New debt financing; Barclays; help fund buyout by Partners Group; provider of solutions in all areas of the integrity process chain.

TEMPUR SEALY INTERNATIONAL INC.: New debt financing; help fund acquisition of Mattress Firm Group Inc. and repay Mattress Firm’s outstanding debt; Lexington, Ky., designer, manufacturer, distributor and retailer of bedding products.

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