Bank Loan Calendar: $12.8959 billion deals being marketed

January Bank Meetings

BARRACUDA NETWORKS INC.: Bank meeting Jan. 3; $835 million senior secured credit facilities; Goldman Sachs, Credit Suisse and UBS; $630 million in first-lien facilities; $205 million second-lien term loan; help fund buyout by Thoma Bravo LLC; Campbell, Calif., provider of cloud-enabled security and data protection solutions.

MEREDITH CORP.: Bank meeting Jan. 4; $2.15 billion senior secured credit facilities; RBC, Credit Suisse, Barclays and Citigroup; $350 million five-year revolver; $1.8 billion seven-year covenant-light term B; help fund acquisition of Time Inc. and refinance existing debt; Des Moines, Iowa, media and marketing company.

SMG HOLDINGS INC.: Bank meeting Jan. 4; $650 million of credit facilities; Jefferies (left on first-lien), Nomura (left on second-lien) and Macquarie; $55 million revolver; $395 million seven-year first-lien term loan, 101 soft call for six months; $200 million eight-year second-lien term loan, call protection 102, 101; help fund buyout by Onex Corp.; Philadelphia-based manager of convention centers, stadiums, arenas, theatres, performing arts centers and other venues.

Upcoming Closings

ARISTOCRAT LEISURE LTD.: $890 million incremental senior secured term B (Ba1/BB+) due October 2024 at Libor plus 200 bps, 0% Libor floor, OID 99.875; UBS, Citigroup and Goldman Sachs; help fund acquisition of Big Fish Games Inc.; Sydney, Australia, provider of gaming solutions.

BEACON ROOFING SUPPLY INC.: Expected closing Jan. 2; $2.27 billion senior secured credit facilities; Citigroup (left on term B), Wells Fargo (left on revolver), Bank of America, JPMorgan and SunTrust; $970 million seven-year covenant-light term B (B1/BB+) at Libor plus 225 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; $1.3 billion asset-based revolver; help fund acquisition of Allied Building Products Corp. and refinance existing term B; Herndon, Va., distributor of residential and commercial roofing materials and complementary building products;.

DIRECT CHASSISLINK INC.: Expected closing early-to-mid January; $325 million senior secured covenant-light term loan (BB-) due June 15, 2023 at Libor plus 600 bps, 0% Libor floor, OID 99.5, call protection 102, 101, reducing to 101 in connection with a change of control; Citigroup, Bank of America, Deutsche Bank and Goldman Sachs; fund acquisition of TRAC Intermodal’s fleet of domestic chassis and related customer and hosting contracts; Charlotte, N.C., provider of chassis leasing.

DUFF & PHELPS CORP.: $1.12 billion senior secured credit facilities (B2/B); UBS and Goldman Sachs; $100 million revolver; $1.02 billion seven-year term B at Libor plus 325 bps, 1% Libor floor, OID 99.75, 101 soft call for six months; help fund buyout by Permira; New York-based valuation and corporate finance advisor.

INTELSAT JACKSON HOLDINGS SA: Expected closing Jan. 1 week; $1.095 billion in term loans; JPMorgan; $395 million term B-4 due January 2024 at Libor plus 450 bps, 1% Libor floor, non-call 2.5 years, then at half the coupon, then at a quarter of the coupon and then at par in the last 18 months; $700 million term B-5 due January 2024 at 6.625%, non-call 2.5 years, then at half the coupon, then at a quarter of the coupon and then at par in the last 18 months; extend term B-2; Luxembourg-based communications satellite company.

LEARFIELD COMMUNICATIONS LLC: $389 million incremental covenant-light first-lien term loan (B1/B+) due Dec. 1, 2023 at Libor plus 325 bps, 1% Libor floor, OID 99.75, 101 soft call for six months; Deutsche Bank, UBS, KKR, Antares, SunTrust, Barclays, JPMorgan and RBC; fund merger with IMG College, finance AMC transaction and pay down second-lien term loan; Plano, Texas, provider of collegiate sports multimedia rights administration and marketing services.

MB AEROSPACE HOLDINGS II CORP.: $305 million secured credit facilities (B2/B); RBC, Societe Generale, Barclays and Citizens; $50 million five-year revolver; $255 million seven-year covenant-light first-lien term loan at Libor plus 350 bps, 1% Libor floor, OID 99.5, 101 soft call for six months; fund the acquisition of Asian Compressor Technology Services Co. Ltd. and refinance existing debt; East Granby, Conn., provider of advanced technological solutions to the aerospace and defense industry.

PRESIDIO INC.: Expected closing Jan. 5; $741.6 million senior secured covenant-light term B (B+) due Feb. 2, 2024 at Libor plus 275 bps, 1% Libor floor, OID 99.75, 101 soft call for six months; Citigroup; amend and extend, and repay notes; New York-based IT infrastructure solutions provider.

ROYAL OAK ENTERPRISES LLC (OZARK HOLDINGS LLC): Expected closing Jan. 8; $371.5 million term B due July 1, 2023 at Libor plus 325 bps, 1% Libor floor, 101 soft call for six months; Barclays and SunTrust; refinance existing term B; Roswell, Ga., maker of charcoal products.

SEDGWICK CLAIMS MANAGEMENT SERVICES INC.: $935 million in term loans; KKR; $735 million incremental first-lien term loan (B) due 2021 at Libor plus 275 bps, 1% Libor floor, OID 99.51, 101 soft call for six months; $200 million second-lien term loan (CCC+) due 2022 at Libor plus 575 bps, 1% Libor floor, OID 99.26; fund acquisition of Cunningham Lindsey; Memphis, Tenn., provider of technology-enabled risk and benefits solutions.

WESTERN DENTAL SERVICES (PREMIER DENTAL SERVICES INC.): Expected closing Jan. 2; $352.2 million term B (B3/B-) due June 30, 2023 at Libor plus 450 bps, 1% Libor floor, 101 soft call for six months; RBC; repricing; Orange, Calif., dental services organization.

On The Horizon

ACETATE TOW JOINT VENTURE: $1.605 billion credit facilities; Barclays, Credit Suisse and Deutsche Bank; $65 million senior unsecured revolver; $135 million senior secured revolver; $1.005 billion in senior secured term loans; $400 million senior unsecured term loan; fund a dividend and repay debt in connection with formation of joint venture by Celanese Corp. contribution of Cellulose Derivatives business unit and Blackstone contribution of Rhodia Acetow business; acetate tow supplier.

AMNEAL PHARMACEUTICALS INC.: New debt financing expected at Libor plus 350 bps; JPMorgan and Bank of America; refinance debt in connection with acquisition of Impax Laboratories Inc.; Bridgewater, N.J., generic pharmaceutical manufacturer.

ARAMARK SERVICES: Up to $975 million in term loans; Goldman Sachs and Morgan Stanley; fund acquisition of AmeriPride Services Inc.; Philadelphia-based professional services company.

ARBY’S RESTAURANT GROUP INC.: $1.725 billion senior secured credit facilities; Barclays; $150 million revolver; $1.575 billion term B; help fund acquisition of Buffalo Wild Wings Inc.; Atlanta-based restaurant chain.

BOYD GAMING CORP.: Incremental debt financing; fund acquisition of Valley Forge Casino Resort in King of Prussia, Pa., from Valley Forge Convention Center Partners LP; Las Vegas-based owner and operator of gaming entertainment properties.

CINEWORLD GROUP: $4.307 billion senior secured credit facilities; Barclays and HSBC; $300 million revolver; $4.007 billion term loan; help fund acquisition of Regal Entertainment Group; London-based cinema operator.

CLOVERLEAF COLD STORAGE: New debt financing; Goldman Sachs; help fund recapitalization with majority equity investment by Blackstone; Sioux City, Iowa, cold storage warehousing and food logistics company.

CONCENTRA GROUP HOLDINGS LLC: $795 million in term loans; JPMorgan; $555 million senior secured incremental term loan (B+); $240 million second-lien term loan (B-); fund acquisition of U.S. HealthWorks Inc. from Dignity Health; Addison, Texas, occupational medicine and urgent care service provider.

CROWN HOLDINGS INC.: Up to $4 billion seven-year term B; Citigroup; help fund acquisition of Signode Industrial Group Holdings (Bermuda) Ltd. from The Carlyle Group; Philadelphia-based provider of consumer packaging.

HORIZON GLOBAL CORP.: New term loan; help fund acquisition of the Brink Group from H2 Equity Partners and refinance existing term loan; Troy, Mich., manufacturer of branded towing and trailering equipment.

HUSKY INJECTION MOLDING SYSTEMS: New debt financing; Bank of America and Deutsche Bank; help fund buyout by Platinum Equity from Berkshire Partners and OMERS Private Equity; Bolton, Ont., supplier of injection molding equipment and services to the plastics industry.

ICL FIRE SAFETY AND OIL ADDITIVES: New debt financing; Barclays, Goldman Sachs and HSBC; help fund buyout by SK Capital from Israel Chemicals Ltd.; St. Louis-based formulator and manufacturer of fire management chemicals.

KEY SAFETY SYSTEMS: New debt financing; help fund acquisition of substantially all of Takata Corp.’s assets and operations; Sterling Heights, Mich., supplier of advanced engineered safety products for automotive and non-automotive markets.

KINDRED HEALTHCARE INC.: New debt financing; help fund buyout by TPG Capital, Welsh, Carson, Anderson & Stowe and Humana Inc.; Louisville, Ky., healthcare services company.

LIFETIME BRANDS INC.: $425 million credit facilities; $150 million asset-based loan; $275 million senior secured term loan; help fund acquisition of Filament Brands; Garden City, N.Y., provider of branded kitchenware, tableware and other products used in the home.

MARVELL TECHNOLOGY GROUP LTD.: $1.4 billion credit facilities; Goldman Sachs and Bank of America; $900 million term loan; $500 million revolver; help fund acquisition of Cavium Inc.; Hamilton, Bermuda, provider of storage, networking and connectivity solutions.

MCDERMOTT INTERNATIONAL INC.: $4.45 billion of senior secured credit facilities; Barclays, Credit Agricole and Goldman Sachs; $1 billion five-year revolver; $1.2 billion five-year letter of credit facility; $1.75 billion seven-year covenant-light term B expected at Libor plus 475 bps, 1% Libor floor, 101 soft call for six months; $500 million seven-year covenant-light term C expected at Libor plus 475 bps, 1% Libor floor, 101 soft call for six months; help fund merger with CB&I; Houston-based provider of integrated engineering, procurement, construction and installation, front-end engineering and design and module fabrication services for upstream field developments.

MEDRISK: New debt financing; Jefferies and Antares; help fund buyout by The Carlyle Group from TA Associates; King of Prussia, Pa., provider of physical medicine solutions to the workers’ compensation industry.

OWENS & MINOR INC.: $450 million term B; Bank of America; help fund acquisition of the surgical and infection prevention business of Halyard Health Inc.; Mechanicsville, Va., healthcare solutions company.

PENN NATIONAL GAMING INC.: $1.25 billion incremental term B; Bank of America and Goldman Sachs; help fund acquisition of Pinnacle Entertainment Inc.; Wyomissing, Pa., owner and manager of gaming and racing facilities and video gaming terminal operations.

PETVET CARE CENTERS LLC: New debt financing; Jefferies and KKR; help fund buyout by KKR from Ontario Teachers’ Pension Plan, L Catterton and other existing shareholders; Westport, Conn., acquirer and operator of general practice and specialty veterinary hospitals for companion animals.

QDOBA RESTAURANT CORP.: New debt financing; help fund buyout by Apollo Global Management LLC from Jack in the Box Inc.; operator and franchiser of Qdoba Mexican Eats restaurants.

TTM TECHNOLOGIES INC.: $700 million incremental senior secured covenant-light term B expected at Libor plus 250 bps, 0% Libor floor, 101 soft call for six months; Barclays; help fund acquisition of Anaren Inc. from Veritas Capital; Costa Mesa, Calif.-based printed circuit board manufacturer.

ZAYO GROUP HOLDINGS INC.: New debt financing; help fund acquisition of Spread Networks; Boulder, Colo., provider of communications infrastructure services.

ZENITH ENERGY U.S. LP: New senior secured credit facilities; Barclays, Credit Suisse and HSBC; help fund completed acquisition of Arc Logistics Partners LP; Houston-based liquids and bulk terminaling 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.