E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 2/22/2012 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $26.1359 billion deals being marketed

February Bank Meetings

CENTAUR LLC: Ban meeting Feb. 23; $240 million credit facility; Credit Suisse; $15 million revolver talked at Libor plus 575 bps; $225 million six-year term loan talked at Libor plus 575 bps, 1.25% Libor floor, OID 98, 101 soft call; refinance existing debt; Indianapolis-based casino operator.

GRAPHIC PACKAGING INTERNATIONAL INC.: Bank meeting Feb. 24; $2 billion credit facility; Bank of America, SunTrust, Citigroup, Goldman Sachs and JPMorgan; $800 million revolver; $800 million term A; $400 million term B; refinance existing debt; Marietta, Ga., provider of packaging services.

RCN: Bank meeting Feb. 23; $125 million add-on term loan B due August 2016 talked at Libor plus 450 bps, 2% Libor floor; SunTrust and GE Capital; fund a dividend; Herndon, Va., broadband services provider.

SEMTECH CORP.: Bank meeting Feb. 23; $350 million in five-year term loans; Jefferies; $100 million term A; $250 million term B; help fund acquisition of Gennum Corp.; Camarillo, Calif., supplier of analog and mixed-signal semiconductors.

TI GROUP AUTOMOTIVE LLC: Bank meeting Feb. 23; $550 million six-year term B; JPMorgan; refinance existing term loan and fund a dividend; Auburn Hills, Mich., automotive supplier focused on fluid storage, transfer and delivery technology.

WCA WASTE CORP.: Bank meeting Feb. 23; $375 million credit facility; Credit Suisse and Macquarie; $100 million five-year revolver talked at Libor plus 500 bps, 1.25% Libor floor, OID 981/2; $275 million six-year term loan talked at Libor plus 500 bps, 1.25% Libor floor, OID 981/2, 101 soft call; refinance debt in connection with buyout by Macquarie Infrastructure Partners II; Houston-based non-hazardous solid-waste services company.

WEIGHT WATCHERS INTERNATIONAL INC.: Bank meeting Feb. 28; $3 billion credit facility; JPMorgan and Credit Suisse; $300 million revolver talked at Libor plus 225 to 250 bps; $1.6 billion term A talked at Libor plus 225 to 250 bps; $1.1 billion term B talked at Libor plus 275 bps to 300 bps, 1% Libor floor, OID 99; fund repurchase of common stock and amend and existing loan; New York-based provider of weight-management services.

Upcoming Closings

ACCO BRANDS CORP.: $920 million senior secured credit facility (Ba2/BB+/BB+); Barclays, Bank of America and BMO; $250 million five-year revolver talked at Libor plus 300 bps; $300 million five-year term A talked at Libor plus 300 bps; $370 million seven-year term B at Libor plus 325 bps, 1% Libor floor, OID 99, 101 soft call; help fund merger with MeadWestvaco Corp.'s consumer & office products business and refinance existing debt; Lincolnshire, Ill., office supply manufacturer.

AFFYMETRIX INC.: $190 million five-year senior secured credit facility; GE Capital, Silicon Valley Bank and CIT; $170 million term A talked at Libor plus 600 bps, 1.5% Libor floor, OID 98; $20 million revolver talked at Libor plus 600 bps, 1.5% Libor floor, OID 98; help fund purchase of eBioscience Holding Co. Inc. and for general corporate purposes; Santa Clara, Calif., provider of technology used by pharmaceutical, diagnostic and biotechnology companies and research institutes.

ASPEN DENTAL MANAGEMENT INC.: $127.4 million term B (B2/B) due Oct. 6, 2016 talked at Libor plus 525 bps to 550 bps, 1.5% Libor floor, OID 981/2; UBS and GE; fund a dividend; East Syracuse, N.Y., provider of denture and dental care services.

ASSOCIATED ASPHALT: $280 million credit facility (B2/B+); KeyBanc, Nomura and Fifth Third; $90 million five-year revolver; $170 million six-year term B talked at Libor plus 550 bps to 575 bps, 1.5% Libor floor, OID 98; $20 million six-year delayed-draw for six months term B talked at Libor plus 550 bps to 575 bps, 1.5% Libor floor, OID 98; help fund buyout by Goldman Sachs Capital Partners; Roanoke, Va., supplier of liquid asphalt to the paving industry.

ATP OIL & GAS CORP.: $140 million incremental senior secured first-lien term loan talked at Libor plus 750 bps, 1.5% Libor floor, OID 99; Credit Suisse; general corporate purposes; Houston-based offshore oil and gas development and production company.

BI-LO LLC: $700 million senior secured asset-based revolver talked at Libor plus 200 bps; Citigroup and Deutsche Bank; help fund acquisition of Winn-Dixie Stores Inc.; Greenville, S.C., operator of supermarkets.

BRAGG COMMUNICATIONS INC.: Roughly C$1.75 billion senior secured credit facility (BB); TD Securities, BMO, CIBC and RBC; C$150 million five-year revolver talked at BA plus 300 bps; C$1.2 billion five-year term A talked at BA plus 300 bps; $400 million six-year term B talked at Libor plus 325 bps, 1% Libor floor, OID 99; refinance existing debt and fund a dividend; Halifax, Nova Scotia, cable television and telecommunications company.

CAPITAL AUTOMOTIVE: $400 million add-on term B (about $230 million funded, $170 million delayed-draw) due March 2017 talked at Libor plus 350 bps, 1.5% Libor floor, OID 99; Barclays; repay some preferred equity and near-term debt, and for acquisitions; McLean, Va., provider of sale-leaseback capital to the automotive retail industry.

CITADEL PLASTICS HOLDINGS INC.: $185 million credit facility; GE Capital and KeyBanc; $30 million five-year revolver at Libor plus 525 bps, step-down to Libor plus 500 bps at less than 3.75x leverage, 1.5% Libor floor, OID 99; $155 million six-year term loan at Libor plus 525 bps, step-down to Libor plus 500 bps at less than 3.75x leverage, 1.5% Libor floor, OID 99; help fund buyout by Huntsman Gay Global Capital from Wind Point Partners; Chicago-based provider of thermoset and thermoplastic compounds.

COLONIAL MANAGEMENT: $69 million credit facility; SunTrust; $3 million revolver talked at Libor plus 225 bps; $66 million term loan talked at Libor plus 225 bps; refinance existing debt and general corporate purposes; Florida-based operator of methadone clinics.

COMMSCOPE INC.: $992.5 million term B (Ba3) due Jan. 14, 2018 talked at Libor plus 325 bps, 1% Libor floor, OID 99, 101 soft call; JPMorgan; refinance existing term B; Hickory, N.C., provider of infrastructure services for communication networks.

COMMUNITY HEALTH SYSTEMS INC.: $1.2 billion 4½ year credit facility (Ba3/BB); Credit Suisse, Bank of America, Citigroup, JPMorgan Wells Fargo, California Bank, RBC and SunTrust; $700 million revolver talked at Libor plus 250 bps, 50 bps unused fee; $500 million term A talked at Libor plus 250 bps; pay down non-extended loans; Nashville, Tenn., operator of hospitals.

DS WATERS OF AMERICA INC.: $535 million credit facility; Credit Suisse (left on term loan), GE Capital (left on revolver) and Jefferies; $285 million 51/2-year term loan (B1/BB-) talked at Libor plus 900 bps, 1.5% Libor floor, OID 98, call protection 103, 102, 101; $55 million 51/2-year delayed-draw term loan (B1/BB-) talked at Libor plus 900 bps, 1.5% Libor floor, OID 98, call protection 103, 102, 101; $105 million six-year funded second-lien term loan (Caa1/CCC+) talked at Libor plus 950 bps cash plus 400 bps PIK, 1.5% Libor floor, OID 98, non-call one, 104, 103, 102, 101; $20 million six-year delayed-draw second-lien term loan (Caa1/CCC+) talked at Libor plus 950 bps cash plus 400 bps PIK, 1.5% Libor floor, OID 98, non-call one, 104, 103, 102, 101; $70 million five-year ABL revolver; refinance existing debt and the delayed-draw term loan is available for acquisition funding; Atlanta-based bottled water, water filtration and coffee service company.

EMI MUSIC PUBLISHING: $1.125 billion senior secured credit facility (Ba3/BB-); UBS; $75 million five-year revolver at Libor plus 475 bps, 75 bps unused fee, 1.25% Libor floor; $1.05 billion six-year term B at Libor plus 425 bps, 1.25% Libor floor, OID 99, 101 soft call; help fund purchase of EMI Music Publishing by Sony Corp. of America, the Estate of Michael Jackson, Mubadala Development Co. PJSC, Jynwel Capital Ltd., GSO Capital Partners LP and David Geffen from Citigroup Inc.; New York-based owner and administrator of copyrights by artists.

ENERGY TRANSFER EQUITY LP: Expected close week of March 19; $2.25 billion five-year senior secured term B, 101 soft call; Credit Suisse, Wells Fargo, BNP Paribas, RBS and SunTrust; help fund acquisition of Southern Union Co.; Dallas-based energy-related services company.

EVERYWARE: $225 million credit facility; Barclays leading term B, Wells Fargo leading revolver; $150 million six-year term B (B3/B) talked at Libor plus 700 bps, 1.5% Libor floor, OID 98, 101 soft call; $75 million five-year ABL revolver; refinance existing debt and pay dividend in connection with the formation of the company through merger of Oneida Ltd. and Anchor Hocking Co.; tabletop brand, and manufacturer and marketer of foodservice and retail glassware.

FOCUS BRANDS INC.: $435 million credit facility; Credit Suisse; $15 million five-year revolver (B1/B) at Libor plus 550 bps, 1.25% Libor floor, 75 bps unused fee; $305 million six-year first-lien term B (B1/B) at Libor plus 500 bps, 1.25% Libor floor, OID 99, 101 soft call; $115 million 61/2-year second-lien term loan (Caa1/CCC+) at Libor plus 900 bps, 1.25% Libor floor, OID 98, call protection 103, 102, 101; repay existing bank debt and fund a dividend; Atlanta-based franchisor and operator of ice cream stores, bakeries, restaurants and cafes.

FREESCALE SEMICONDUCTOR INC.: $500 million senior secured seven-year incremental term B (B1/B/B-) talked at Libor plus 450 bps to 475 bps, 1.25% Libor floor, OID 99, 101 soft call; JPMorgan and Citigroup; refinance notes; Austin, Texas, designer and manufacturer of embedded semiconductors.

FREIF NORTH AMERICAN POWER I: $243 million credit facility (Ba3/BB-); Deutsche Bank, Barclays, Citigroup and Macquarie; $210 million seven-year term loan talked at Libor plus 450 bps, 1.5% Libor floor, OID 98, 101 call protection; $33 million seven-year letter of credit facility talked at Libor plus 450 bps, OID 98; help fund acquisition by First Reserve Corp. and CalPERS of a diversified portfolio of U.S. contracted natural gas fired power generation plants from Arclight Capital.

GREAT ATLANTIC & PACIFIC TEA CO. INC.: $645 million five-year exit facility; JPMorgan and Credit Suisse; $375 million ABL revolver; $270 million term loan (B3) at Libor plus 900 bps, 2% Libor floor, OID 96, non-call two, 1021/2; repay DIP and for general corporate purposes; Montvale, N.J., operator of supermarkets.

HAMILTON LANE: $165 million credit facility; Goldman Sachs; $10 million revolver; $155 million term loan talked at Libor plus 500 bps to 525 bps, 1.5% Libor floor, OID 98 to 99, 101 soft call; help fund purchase of a minority interest in the company; provider of discretionary and non-discretionary private equity asset management services.

HAWAIIAN TELCOM: $300 million five-year first-lien term B (B1) talked at Libor plus 575 bps, 1.25% Libor floor, OID 981/2, 102, 101 soft call; Credit Suisse; refinance an existing term loan; Honolulu, Hawaii, provider of integrated communications services.

HYLAND SOFTWARE: $80 million incremental first-lien term loan (B2/B+) talked at Libor plus 475 bps, 1.25% Libor floor, OID 98; Credit Suisse; fund a dividend; Westlake, Ohio, enterprise content management software vendor.

JARDEN CORP.: $300 million add-on term loans (Ba1); Barclays, Deutsche Bank, JPMorgan, Wells Fargo and SunTrust; $150 million term A at Libor plus 225 bps; $150 million term B at Libor plus 300 bps, OID 993/4; help fund Dutch auction tender for stock; Rye, N.Y., consumer products company.

LATSHAW DRILLING & EXPLORATION: $100 million ABL revolver at Libor plus 275 bps; SunTrust; refinance existing debt and for general corporate purposes; Tulsa, Okla., driller of oil and natural gas wells.

MOHEGAN TRIBAL GAMING AUTHORITY: $700 million credit facility; Wells Fargo, Bank of America and Credit Suisse; $225 million last-out, first-loss term loan at Libor plus 750 bps, 1.5% Libor floor, OID 98, non-call two; $200 million revolver due March 31, 2015; $275 million term A due March 31, 2015; refinance existing debt; Uncasville, Conn., operator of gaming and entertainment enterprises.

NORANDA ALUMINUM HOLDING CORP.: $550 million credit facility; Bank of America, Citigroup, UBS, Barclays, Credit Suisse and Goldman; $300 million seven-year term loan (Ba2) talked at Libor plus 450 bps to 475 bps, 1.25% Libor floor, OID 99, 101 soft call; $250 million ABL revolver; refinance existing debt and fund a dividend; Franklin, Tenn., producer of value-added primary aluminum products and rolled aluminum coils.

NUVEEN INVESTMENTS: $500 million seven-year second-lien term loan (Caa1/CCC) at Libor plus 700 bps, 1.25% Libor floor, OID 99, call protection 103, 102, 101; Deutsche Bank, JPMorgan and Bank of America; refinance existing second-lien loan; Chicago-based provider of investment services.

NXP SEMICONDUCTORS: Expected close on or by March 19; $475 million seven-year incremental term B (B2/B+) talked at Libor plus 400 bps, 1.25% Libor floor, OID 981/2, non-call one, 101; Morgan Stanley and Bank of America; refinance senior notes; Eindhoven, Netherlands, provider of mixed-signal products and semiconductor components.

QUINTILES TRANSNATIONAL HOLDINGS INC.: $300 million four-year and 364-day holdco PIK toggle term loan (B3/B) at 7½% fixed, OID 97.959, call protection 102 in years one to three, 101 in year four; JPMorgan, Barclays and Morgan Stanley; fund a distribution to shareholders; Durham, N.C., biopharmaceutical services company.

RAILAMERICA INC.: $585 million seven-year senior secured term loan (B1/BB+) talked at Libor plus 300 bps to 325 bps, 1% Libor floor, OID 99 to 991/2, 101 soft call; Morgan Stanley, Citigroup, Deutsche Bank and BMO; help fund notes tender offer; Jacksonville, Fla., owner and operator of short-line and regional freight railroads.

ROCKWOOD SPECIALTIES GROUP INC.: $350 million five-year term A (Ba1/BBB-) at Libor plus 225 bps; Credit Suisse and KKR Capital; help fund the redemption of senior subordinated notes; Princeton, N.J., inorganic specialty chemicals and advanced materials company.

SWIFT TRANSPORTATION CO.: $1.274 billion credit facility; Bank of America, Morgan Stanley and Wells Fargo; $400 million revolver due Sept. 21, 2016; $200 million term B-1 due Dec. 21, 2016 talked at Libor plus 375 bps to 400 bps, OID 993/4; $674 million term B-2 due Dec. 15, 2017 talked at Libor plus 375 bps to 400 bps, 1.25% Libor floor, OID 993/4; reprice and extend the maturities of existing senior secured credit facility; Phoenix-based transportation services company and truckload carrier.

TROPICANA ENTERTAINMENT INC.: $175 million six-year first-lien term B (B2/BB+) talked at Libor plus 600 bps, 1.5% Libor floor, OID 98, 101 soft call; UBS; refinance existing debt and add cash to balance sheet; Las Vegas-based owner and operator of casino gaming properties.

UNIVERSAL AMERICAN CORP.: $200 million senior secured credit facility; Bank of America; $50 million revolver; $150 million term loan; help fund acquisition of APS Health-care Inc.; Rye Brook, N.Y., provider of health benefits to people with Medicare.

VANTIV LLC: Up to $1.6 billion credit facility (Ba2); JPMorgan, Morgan Stanley, Credit Suisse and Fifth Third; $250 million five-year revolver talked at Libor plus 225 bps, 50 bps unused fee; $1 billion five-year term A talked at Libor plus 225 bps; $250 million to $350 million seven-year term B talked at Libor plus 300 bps, 1% Libor floor, OID 99; refinance existing debt; Cincinnati-based integrated payment processor serving merchants and financial institutions.

WINDSTREAM CORP.: $280 million of term A-3 (BB+); pay down revolver debt; Little Rock, Ark., provider of advanced network communications.

On The Horizon

ANGIODYNAMICS: $200 million credit facility; JPMorgan; Bank of America, KeyBanc; $150 million five-year term loan expected at Libor plus 250 bps; $50 million revolver; help fund acquisition of Navilyst Medical from Avista Capital Partners; Latham, N.Y., provider of medical devices.

COSTAR GROUP INC.: $465 million credit facility; JPMorgan; $415 million seven-year term loan expected at Libor plus 350 bps, 1.25% Libor floor; $50 million five-year revolver expected at Libor plus 300 bps; help fund acquisition of LoopNet Inc.; Washington, D.C.-based commercial real estate information company.

FEDERAL SIGNAL CORP.: $315 million credit facility; $215 million term loan; $100 million senior secured asset-based facility; repay existing credit facility and outstanding private placement notes; Oak Brook, Ill., provider of environmental, safety and transportation services.

GLOBEOP FINANCIAL SERVICES: New credit facility; Credit Suisse and UBS; help fund buyout by TPG; London and New York-based provider of business process outsourcing, financial technology services and analytics.

PEP BOYS - MANNY, MOE & JACK: $875 million credit facility; Credit Suisse (left on term loans), Barclays and Wells Fargo (left on revolver); $325 million asset-based revolver; $425 million first-lien term loan; $125 million second-lien term loan; help fund buyout by Gores Group; Philadelphia-based automotive aftermarket chain.

QUICKSILVER PRODUCTION PARTNERS LP: New revolver; in connection with initial public offering of common units; help pay a contribution to Quicksilver; Fort Worth, Texas, owner and acquirer of oil and gas properties.

VENOCO INC.: New bank borrowings; help fund buyout by Timothy M. Marquez, chairman and chief executive officer; Denver-based energy company.

VOXX INTERNATIONAL CORP.: New credit facility; Wells Fargo; revolver; term loan; help fund acquisition of Car Communication Holding GmbH; Hauppauge, N.Y., automotive and consumer electronics and accessories company.

WESTERN DIGITAL CORP.: $3 billion senior unsecured credit facility; Bank of America; $500 million revolver; $2.5 billion five-year term loan; help fund acquisition of Hitachi Global Storage Technologies from Hitachi Ltd., refinance existing bank debt and for general corporate purposes; Irvine, Calif., designer and producer of hard drives and solid state drives.

W.R. GRACE & CO.: Exit facility, including a $200 million revolver; Goldman Sachs and Deutsche Bank; Columbia, Md., specialty chemicals company.


© 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.