Bank Loan Calendar: $16.5085 billion deals being marketed

January Bank Meetings

CALIBER COLLISION (WAND NEWCO3 INC.): Bank meeting Jan. 15; $1.85 billion seven-year covenant-light term B (B); Bank of America, Deutsche Bank, Jefferies, SunTrust and BMO; help fund merger with Abra Auto Body Repair of America; Lewisville, Texas, vehicle repair company.

CARLYLE GROUP/EMERA POWER ASSETS: $586 million credit facilities; Jefferies and SunTrust; $55 million revolver; $445 million term B; $86 million term C; fund acquisition of three natural gas-fired generation facilities from Emera Inc.; seller of power, capacity and ancillary services into the ISO-New England market.

DUN & BRADSTREET CORP.: Expected late January/early February business; $3.53 billion senior secured credit facilities; Bank of America, Citigroup and RBC; $400 million revolver; $3.13 billion term loan; help fund buyout by an investor group led by CC Capital, Cannae Holdings and Thomas H. Lee Partners LP; Short Hills, N.J., provider of commercial data and analytics.

ENERGIZER HOLDINGS INC.: Expected late January/early February business; up to $500 million senior secured incremental first-lien term loan; JPMorgan, Barclays and Citigroup; help fund acquisition of Spectrum Brands’ Global Auto Care business; St. Louis-based manufacturer and distributor of consumer products.

FASTMED URGENT CARE (URGENT CARE HOLDINGS OF AMERICA LLC): New loan; Barclays; help fund acquisition of NextCare Holdings Inc.; provider of acute/episodic and preventive healthcare services.

FLEETPRIDE (FASTLANE PARENT CO. INC.): Lender call Jan. 17; $1.07 billion credit facilities; Barclays, RBC, Jefferies, Citigroup and Goldman Sachs; $225 million five-year ABL revolver; $620 million seven-year first-lien term loan; $225 million privately placed eight-year second-lien term loan; help fund already completed buyout by American Securities from TPG Capital; Irving, Texas, distributor of aftermarket heavy-duty truck and trailer parts.

KOFAX (PROJECT LEOPARD HOLDINGS): Bank meeting Jan. 15; $410 million covenant-light first-lien term loan due July 2023, 0% Libor floor, 101 soft call for six months; Credit Suisse, Goldman Sachs, Deutsche Bank and UBS; fund acquisition of Nuance Document Imaging from Nuance Communications Inc.; Irvine, Calif., provider of software solutions and services across multi-channel capture and financial process automation markets.

RADIOLOGY PARTNERS INC.: Lender call Jan. 16; $365 million incremental first-lien term B; Barclays and Golub; fund acquisition of Austin Radiological Association and repay revolver borrowings; El Segundo, Calif., radiology physician practice management company.

STANDARDAERO AVIATION HOLDINGS INC. (DYNASTY ACQUISITION CO. INC.): Bank meeting Jan. 15; $2.595 billion credit facilities; Credit Suisse, RBC, Macquarie, Barclays, Jefferies, Nomura, Goldman Sachs and Mizuho; $150 million revolver; $300 million ABL revolver; $2.145 billion seven-year covenant-light first-lien term loan, 0% Libor floor, 101 soft call for six months; help fund buyout by Carlyle Group from Veritas Capital; Scottsdale, Ariz., provider of aircraft engine maintenance, repair and overhaul services.

US SALT: Bank meeting Jan. 17; $437.5 million credit facilities; Citizens; $25 million five-year revolver; $285 million seven-year covenant-light first-lien term loan; $127.5 million privately placed second-lien term loan; fund an acquisition and refinance existing debt; Overland Park, Kan., producer of salt.

Upcoming Closings

AIMBRIDGE HOSPITALITY: $410 million of credit facilities (B1/B); JPMorgan; $60 million five-year revolver; $350 million seven-year covenant-light term B talked at Libor plus 425 bps to 450 bps, 0% Libor floor, OID 98 to 98.5, 101 soft call for six months; help fund buyout by Advent International from Lee Equity Partners and General Atlantic; Dallas-based third-party hotel operator.

ALLEGIANT TRAVEL CO.: $450 million five-year senior secured term B (Ba3/BB-) talked at Libor plus 425 bps, 0% Libor floor, OID 99, 101 soft call for six months; Barclays; refinance notes; Las Vegas-based operator of a passenger airline marketed to leisure travelers in small cities.

CAST & CREW ENTERTAINMENT SERVICES: $1.155 billion credit facilities; Goldman Sachs and RBC; $90 million revolver (B2/B+); $740 million seven-year first-lien term loan (B2/B+) talked at Libor plus 425 bps, 0% Libor floor, OID 98, 101 soft call for six months; $325 million privately placed second-lien term loan; help fund buyout by EQT Partners from Silver Lake; Burbank, Calif., provider of software and services to the entertainment production industry.

DURAVANT LLC (ENGINEERED MACHINERY HOLDINGS INC.): $160 million incremental first-lien term loan (B2/B-) due July 2024 talked at Libor plus 400 bps to 425 bps, 0% Libor floor, OID 98, 101 soft call for six months; Jefferies, Citigroup, Credit Suisse, Antares and Societe Generale; help fund acquisition of Wulftec International; Downers Grove, Ill., automation solutions platform providing highly engineered equipment and related aftermarket parts and services.

EDGEWOOD PARTNERS HOLDINGS LLC (EPIC): $345 million of incremental first-lien term loan debt; Antares and Golub; $295 million incremental first-lien term loan talked at Libor plus 425 bps, 1% Libor floor, OID 99, 101 soft call for six months; $50 million delayed-draw incremental first-lien term loan talked at Libor plus 425 bps, 1% Libor floor, OID 99; also $325 million privately placed second-lien term loan and $50 million privately placed delayed-draw second-lien term loan; fund an acquisition, repay revolver drawings and refinance existing second-lien term loan; San Francisco-based insurance, risk management and employee benefits brokerage and consulting firm.

HUBBARD RADIO LLC: $80 million add-on term B due April 2025 (B1) talked at Libor plus 350 bps, 1% Libor floor, OID 98.5 area, 101 soft call for six months; Morgan Stanley; fund acquisition of six radio stations in West Palm Beach, Fla. from Alpha Media; St. Paul, Minn. broadcasting company.

MKS INSTRUMENTS INC.: $750 million of bank debt; Barclays and HSBC; $100 million five-year ABL revolver; $650 million seven-year incremental first-lien term B (BB+) talked at Libor plus 250 bps, 0% Libor floor, OID 98 to 98.5, 101 soft call for six months; help fund acquisition of Electro Scientific Industries Inc.; Andover, Mass., provider of instruments, subsystems and process control solutions that measure, control, power, monitor and analyze critical parameters of advanced manufacturing processes.

QUIRCH FOODS CO.: $265 million credit facilities; RBC; $100 million five-year ABL revolver; $165 million senior secured term loan talked at Libor plus 600 bps, 0% Libor floor, OID 99, 101 soft call for six months; back a significant investment by Palladium Equity Partners LLC; Miami-based distributor and exporter of protein and Hispanic food products.

VIRTU FINANCIAL LLC: $1.55 billion credit facilities (Ba3/B+/BB-); Jefferies and RBC; $50 million three-year revolver; $1.5 billion seven-year first-lien term loan talked at Libor plus 350 bps, 25 bps leverage-based step-down, 0% Libor floor, OID 99 to 99.5, 101 soft call for six months; help fund acquisition of Investment Technology Group Inc. and refinance existing first-lien debt; New York-based technology-enabled market maker and liquidity provider to the financial markets.

On The Horizon

ATHENAHEALTH INC.: Up to $4.86 billion senior secured credit facilities; JPMorgan, Deutsche Bank, Bank of America, Barclays, Natixis, PSP Investments, Ares and KKR; help fund buyout by Veritas Capital and Evergreen Coast Capital and merger with Virence Health; Watertown, Mass., provider of network-enabled services for hospital and ambulatory customers.

CALPINE CORP.: $600 million of bank loans; help fund capital expenditures related to the Geysers geothermal project in Northern California; San Jose, Calif., power generator.

CIELO: New debt financing; Barclays; help fund buyout by Permira from Accel-KKR; recruitment process outsourcing partner.

CIVITAS SOLUTIONS INC.: New debt financing; Goldman Sachs, UBS, RBC and KeyBanc; help fund buyout by Centerbridge Partners LP; Boston-based provider of home- and community-based health and human services to individuals with intellectual, developmental, physical or behavioral disabilities and other special needs.

COMMSCOPE INC.: Up to $6.25 billion of bank debt; JPMorgan, Bank of America and Deutsche Bank; $750 million ABL revolver expected at Libor plus 150 bps, 0% Libor floor; up to $5.5 billion seven-year senior secured incremental covenant-light first-lien term loan B-2 expected at Libor plus 250 bps, 25 bps step-down at first-lien leverage of 0.5 times less than closing first-lien leverage, 0% Libor floor, 101 soft call for six months; help fund acquisition of Arris International plc; Hickory, N.C., provider of infrastructure services for communication networks.

COVETRUS: New debt financing; fund a special dividend in connection with spinoff of animal health business from Henry Schein Inc. and merger with Vets First Choice; animal health service and technology platform dedicated to supporting the veterinary market.

E.W. SCRIPPS CO.: $525 million seven-year incremental senior secured term B; Wells Fargo; fund acquisition of 15 television stations from Cordillera Communications; Cincinnati-based broadcasting and digital media company.

GETTY IMAGES INC.: New loans; help refinance balance sheet in connection with acquisition by Getty family from Carlyle Group; visual communications company.

GREIF INC.: $1.2 billion five-year senior secured incremental term A expected at Libor plus 175 bps; Wells Fargo, JPMorgan and Goldman Sachs; help fund acquisition of Caraustar Industries Inc. from H.I.G. Capital; Delaware, Ohio-based producer of industrial packaging products and services.

JOHNSON CONTROLS’ POWER SOLUTIONS: New debt financing; Barclays, Credit Suisse, JPMorgan, Bank of America, BMO, CIBC, Citigroup, Deutsche Bank, Goldman Sachs, HSBC, RBC, Scotia and TD; help fund acquisition by Brookfield Business Partners L.P. and Caisse de dépôt et placement du Québec; producer of batteries for automakers and aftermarket distributors and retailers.

MPM HOLDINGS INC. (MOMENTIVE): New debt financing; help fund acquisition by SJL Partners LLC, KCC Corp. and Wonik QnC Corp.; Waterford, N.Y., silicones and advanced materials company.

NEXSTAR MEDIA GROUP INC.: $4.1 billion senior secured incremental term loans; Bank of America, Credit Suisse and Deutsche Bank; $500 million incremental term A; $3.6 billion incremental term B; help fund acquisition of Tribune Media Co.; Irving, Texas, diversified media company.

PCI GAMING AUTHORITY (WIND CREEK HOSPITALITY): New debt financing; Credit Suisse; help fund acquisition of Sands Casino Resort in Bethlehem, Pa., from Las Vegas Sands Corp.; owner and operator of gaming and entertainment facilities.

P.F. CHANG’S CHINA BISTRO INC.: New loan; Credit Suisse and KKR; help fund buyout by TriArtisan Capital Advisors from Centerbridge Partners; Scottsdale, Ariz., Asian-themed casual dining restaurant chain.

RANPAK CORP. (ONE MADISON CORP.): $495 million senior secured credit facilities; Goldman Sachs; $45 million five-year revolver expected at Libor plus 375 bps if first-lien net leverage is less than 5x and Libor plus 400 bps if more than 5x; $450 million seven-year covenant-light first-lien term loan expected at Libor plus 375 bps if first-lien net leverage is less than 5x and Libor plus 400 bps if more than 5x, 101 soft call for six months; help fund acquisition by One Madison Corp. from Rhône Capital; Concord Township, Ohio, provider of fiber-based, environmentally sustainable protective packaging solutions.

STAPLES INC.: New debt financing; Wells Fargo; help fund acquisition of Essendant Inc.; Framingham, Mass., retailer of office supplies.

T-MOBILE USA INC.: $11 billion senior secured credit facilities; Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley, RBC, BNP Paribas, Commerzbank, Credit Agricole, TD Securities and Wells Fargo on revolver; Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley and RBC on term loan; $4 billion five-year revolver expected at Libor plus 125 bps, 0% Libor floor; $7 billion seven-year covenant-light term loan expected at Libor plus 175 bps, 0% Libor floor, 101 soft call for six months; refinance existing debt in connection with merger with Sprint Corp. and fund working capital needs; Bellevue, Wash., communications services company.

TIVITY HEALTH INC.: $1.335 billion senior secured credit facilities; Credit Suisse, SunTrust, Citigroup, Citizens, Fifth Third, Regions Capital and Goldman Sachs; $125 million revolver; $1.21 billion term loan; help fund acquisition of Nutrisystem Inc.; Franklin, Tenn., provider of fitness and health improvement programs.

TRANSDIGM INC.: $3.7 billion of term loans; help fund acquisition of Esterline Technologies Corp.; Cleveland-based designer, producer and supplier of highly engineered aircraft components for use on commercial and military aircraft.

TRAVELPORT WORLDWIDE LTD.: New debt financing; Bank of America, Deutsche Bank, Macquarie, Credit Suisse and Barclays; help fund buyout by Siris Capital Group LLC and Evergreen Coast Capital Corp.; Langley, U.K., travel technology company.

UNIVAR INC.: $1.325 billion senior secured incremental term loan; Goldman Sachs; help fund acquisition of Nexeo Solutions Inc. and refinance Nexeo debt; Downers Grove, Ill., distributor of industrial and specialty chemicals.

US FOODS HOLDING CORP.: $1.5 billion seven-year incremental senior secured term loan; JPMorgan and Bank of America; help fund acquisition of SGA’s Food Group of Companies; Rosemont, Ill., food company and foodservice distributor.

VICTORY CAPITAL HOLDINGS INC.: $1.495 billion senior secured credit facilities; Barclays and RBC; $100 million five-year revolver expected at Libor plus 350 bps, 0% Libor floor; $1.395 billion seven-year covenant-light first-lien term loan expected at Libor plus 350 bps, one 25 bps step-down based on leverage, 0% Libor floor, 101 soft call for six months; refinance existing credit facilities, and fund acquisitions of USAA Asset Management Co. and Harvest Volatility Management LLC; Brooklyn, Ohio, asset management firm.

© 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.