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Published on 12/16/2008 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $4.245 billion deals being marketed

UPCOMING CLOSINGS

AQUILEX HOLDINGS LLC: $310 million credit facility (Ba3/BB-); RBC; $50 million revolver; $50 million term A talked at Libor plus 550 bps, OID 95, 3% Libor floor; $210 million term B talked at Libor plus 600 bps, OID 94, 3% Libor floor; help fund buyout by Teachers' Private Capital from Harvest Partners; Atlanta-based provider of service, repair and overhaul services, and industrial cleaning services to the energy and power generation sectors.

CHAPARRAL ENERGY INC.: $1.2 billion five-year revolver expected at Libor plus 150 bps to 325 bps based on utilization, commitment fee to range from 37.5 bps to 50 bps; JPMorgan, RBS Securities and SunTrust; in connection with acquisition of Edge Petroleum Corp.; refinance existing credit facilities; Oklahoma City-based oil and natural gas production and exploitation company.

CITYCENTER: $1.2 billion of bank debt being raised at Libor plus 375 bps; Bank of America, RBS, UBS, BNP Paribas and Sumitomo Mitsui; part of $3 billion credit facility due April 2013, consisting of a $250 million revolver and $2.75 billion in term loans, of which $1.8 billion has already been placed; project financing; mixed-use development built on the Las Vegas Strip.

EARTHBOUND FARM: $135 million credit facility; RBC Capital Markets; $35 million revolver at Libor plus 500 bps, OID 98; $100 million term A at Libor plus 500 bps, OID 98; fund LBO by Lindsey Goldberg; San Juan Bautista, Calif., organic produce company.

KING PHARMACEUTICALS INC.: $200 million four-year term loan at Libor plus 500 bps, OID 96; Credit Suisse and Wachovia; help fund acquisition of Alpharma Inc.; Bristol, Tenn., integrated branded pharmaceutical company.

PRECISION DRILLING TRUST: $1.2 billion senior secured credit facility (Ba1/BBB-); RBC and Deutsche Bank; $400 million five-year revolver at Libor plus 400 bps; $400 million five-year term A at Libor plus 400 bps; $400 million 53/4-year term B at Libor plus 600 bps, 3.25% Libor floor, OID 80 (roughly $75 million carve out at Libor plus 800 bps, OID 85); help fund acquisition of Grey Wolf Inc.; Calgary, Alberta, provider of high performance energy services.

ON THE HORIZON

CCC-MITCHELL INC.: New credit facility; Goldman Sachs involved; refinance existing debt in connection with merger of CCC Information Services Inc. and Mitchell International Inc.; provider of information, workflow management systems and integrated software to insurance companies and collision repair facilities.

CENTERPLATE INC.: New credit facility; National City Bank; help fund buyout by Kohlberg & Co. LLC; Stamford, Conn., provider of food and related services including concessions, catering and merchandise services.

DELPHI CORP. $3.95 billion exit facility; $1.2 billion asset-based revolver; $2.75 billion in first-and second-lien term loans; Troy, Mich., automotive electronics manufacturer.

GLOBAL*TEL LINK CORP.: $235 million credit facility; Credit Suisse and Wells Fargo Foothill; $25 million revolver talked at Libor plus 600 bps; $210 million term loan (includes $45 million deposit letter-of-credit carve-out) talked at Libor plus 600 bps; help fund buyout by Veritas Capital and GS Direct from the Gores Group; Reston, Va., provider of telecommunications, software and technology products and services to the corrections industry.

INTERSTATE BAKERIES CORP.: $469 million exit financing credit facility; $125 million five-year ABL revolver expected at Libor plus 325 bps, 50 bps unused fee; $344 million five-year first-lien term loan expected at Libor plus 825 bps, 2.7% Libor floor; GE Capital leading revolver, Silver Point Finance leading term loan; Kansas City, Mo., commercial baker and distributor of fresh-baked bread and sweet goods.

IOWA TELECOMMUNICATIONS SERVICES INC.: $75 million in incremental loans; Rural Telephone Finance Cooperative; help fund the acquisition of Sherburne Tele Systems Inc.; Newton, Iowa, telecommunications service provider.

LANDRY'S RESTAURANTS INC.: $300 million senior secured credit facility; Wells Fargo Foothill and Jefferies; $50 million five-year revolver; $250 million five-year term loan; help fund buyout by Fertitta Holdings Inc.; Houston-based restaurant, hospitality and entertainment company.

ROYSTON RUN-OFF LTD: $184.6 million credit facility; National Australia Bank; $152.6 million three-year term A at Libor plus 350 bps; $32 million four-year term B at Libor plus 400 bps; help fund the acquisition of Unionamerica Holdings Ltd. from St. Paul Fire and Marine Insurance Co.; subsidiary of Enstar Group Ltd, a Hamilton, Bermuda, acquirer and manager of insurance and reinsurance companies in run-off.

SEMGROUP LP: $250 million six-month DIP at Libor plus 600 bps; Bank of America; Tulsa, Okla., provider of midstream services to the energy industry.

TRIDENT RESOURCES CORP.: New revolver; in connection with common stock IPO to repay existing debt; Calgary, Alberta, natural gas production company.

WELLMAN INC.: $175 million four-year secured exit facility; Ableco Finance; $125 million revolver at Libor plus 425 bps, 3.25% Libor floor, 50 bps unused fee; $50 million term loan at Libor plus 425 bps, 3.25% Libor floor, call protection 102, 101; Fort Mill, S.C., manufacturer and marketer of polyethylene terephthalate packaging resins, polyester staple fibers and recycled-based nylon engineering resin.

WENDY'S/ARBY'S GROUP INC.: $200 million secured revolver (Ba1); expected close in the fourth quarter; Atlanta-based quick-service restaurant company.


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