Bank Loan Calendar: $32.703 billion deals being marketed

September Bank Meetings

8TH AVENUE FOOD & PROVISIONS INC.: Bank meeting Sept. 11; $625 million of term loans; Barclays, Goldman Sachs, BMO, Credit Suisse, Citigroup and Wells Fargo; $500 million seven-year first-lien term loan (B); $125 million eight-year second-lien term loan (CCC+); support capitalization as a standalone entity from Post Holdings Inc., with a new investment from Thomas H. Lee Partners; manufacturer of nut butters, healthy snacks, granola and pasta.

AKZONOBEL SPECIALTY CHEMICALS (STARFRUIT): Bank meeting in London Sept. 10 (NY was Sept. 6); €5.115 billion equivalent term loans (B1/B+/BB-); Barclays, HSBC, JPMorgan, Credit Suisse, Deutsche Bank, Morgan Stanley, RBC, Citigroup, Nomura, UBS, BNP Paribas, Credit Agricole, Mizuho, MUFG, RBS, Societe Generale, Bank of China, ABN Amro, Commerzbank, Rabobank, SEB, Bank of Ireland, Standard Chartered, ING and AIB; €3.325 billion equivalent U.S. seven-year term B talked at Libor plus 400 bps to 425 bps, 0% Libor floor, OID 99 to 99.5, 101 soft call for six months; €1.79 billion seven-year term B talked at Euribor plus 425 bps, 0% floor, OID 99 to 99.5, 101 soft call for six months; help fund buyout by the Carlyle Group and GIC from AkzoNobel; specialty chemicals company.

ALTRA INDUSTRIAL MOTION CORP.: Bank meeting Sept. 11; $1.64 billion senior secured credit facilities (Ba2/BB-); Goldman Sachs, Wells Fargo and JPMorgan; $300 million revolver; $1.34 billion seven-year term B; help fund combination with four operating companies from Fortive’s Automation and Specialty platform; Braintree, Mass., designer, producer and marketer of a wide range of electromechanical power transmission and motion-control products.

CONTURA ENERGY INC.: Bank meeting Sept. 12; $600 million seven-year senior secured first-lien term loan, 101 soft call for six months; Jefferies, Barclays, Citigroup and BMO; refinance combined entity’s balance sheet in connection with merger with Alpha Natural Resources Holdings Inc.; Bristol, Tenn.-based coal supplier with affiliate mining operations.

FLEXERA SOFTWARE LLC: Lender call Sept. 12; $85 million add-on term loan; Jefferies; Itasca, Ill., provider of software and services that enable software publishers and device makers to install, enforce and deploy software licenses.

LOTUS MIDSTREAM: Lender call Sept. 12; $350 million seven-year term B; Barclays; support acquisition of Centurion pipeline system and a Southeast New Mexico crude oil gathering system from Occidental Petroleum Corp.; Sugar Land, Texas, energy company.

MODA MIDSTREAM: Lender call Sept. 11; $300 million seven-year term B; Barclays; support acquisition of Ingleside Energy Center and certain crude oil and LPG infrastructure from Occidental Petroleum Corp.; Houston-based liquids terminalling and logistics company.

PH BEAUTY III HOLDINGS INC.: Bank meeting Sept. 11; $385 million credit facilities; Jefferies, BNP Paribas and Antares; $25 million five-year revolver; $260 million seven-year first-lien term loan; $100 million eight-year second-lien term loan; fund acquisition of Paris Presents Inc. from EagleTree Capital and its co-investors by Yellow Wood Partners and merger with Freeman Beauty; health and beauty accessories business.

SUSE (MARCEL BIDCO): Bank meeting in London Sept. 11, in NY Sept. 12; $675 million equivalent of term loans (B2); JPMorgan, Deutsche Bank, Goldman Sachs and Jefferies; $325 million seven-year term loan talked at Libor plus 400 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; $350 million equivalent euro seven-year term loan talked at Euribor plus 425 bps, 0% floor, OID 99.5, 101 soft call for six months; help fund buyout by the EQT VIII fund from Micro Focus International plc; Germany-based provider of open source infrastructure software for large enterprises.

VALET LIVING: Bank meeting Sept. 11; $275 million credit facilities; Antares and Citizens; $30 million five-year revolver; $245 million seven-year covenant-light term loan; refinance existing debt; Tampa, Fla., provider of amenity services to the multi-family housing industry.

VIRTU FINANCIAL INC.: Lender call Sept. 10; $400 million first-lien senior secured term loan talked at Libor plus 275 bps to 300 bps, 1% Libor floor, 101 soft call for six months; JPMorgan; repricing; New York-based technology-enabled market maker and liquidity provider to the financial markets.

Upcoming Closings

ALTERRA MOUNTAIN CO.: $50 million add-on term loan due 2024 talked at Libor plus 300 bps, 0% Libor floor, OID 99.875 to par; JPMorgan; help fund the acquisition of Crystal Mountain Resort in Washington; Denver-based mountain resort and adventure company.

AMERICAN AIRLINES INC.: $300 million add-on term loan (//BB+) due 2021 talked at Libor plus 200 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; JPMorgan; general corporate purposes; Fort Worth, Texas, airline company.

COHU INC.: Expected closing by Oct. 15; $350 million seven-year covenant-light senior secured term B (B1/BB-) talked at Libor plus 275 bps to 300 bps, 0% Libor floor, OID 99.5; Deutsche Bank; help fund acquisition of Xcerra Corp.; Poway, Calif., supplier of semiconductor test and inspection handlers, micro-electro mechanical system test modules, test contactors and thermal sub-systems.

CORRECT CARE SOLUTIONS (CCS-CMGC HOLDINGS INC.): $675 million credit facilities; Credit Suisse, Jefferies, Ares and Cantor Fitzgerald; $65 million revolver (B2/B-); $500 million seven-year covenant-light first-lien term loan (B2/B-) talked at Libor plus 550 bps, 0% Libor floor, OID 99, 101 soft call for six months; $110 million eight-year covenant-light second-lien term loan (Caa2/CCC) talked at Libor plus 900 bps, 0% Libor floor, OID 98, call protection 102, 101; fund H.I.G. Capital’s acquisition of CCS and CMGC; provider of outsourced healthcare and behavioral solutions to local detention facilities, federal and state prisons, and behavioral healthcare facilities.

EIF VAN HOOK EQUITY HOLDINGS: $425 million credit facilities; Macquarie; $25 million super-priority revolver; $400 million first-lien term B (B3/B+) talked at Libor plus 475 bps to 500 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; support already completed acquisition of Paradigm Energy Partners from Stonepeak Infrastructure Partners and combination with Ares EIF Group’s adjacent Van Hook Gathering System; midstream platform.

ENCINO ACQUISITION PARTNERS HOLDINGS LLC: $550 million seven-year senior secured second-lien term loan (B2/BB-/BB-) talked at Libor plus 625 bps, 1% Libor floor, OID 99, non-call one, 102, 101; Jefferies, Citigroup and BMO; help fund acquisition of Ohio Utica Assets from Chesapeake Energy Corp.; Houston-based oil and gas company.

GARRETT MOTION INC.: $1.65 billion equivalent credit facilities (Ba3/BB-); JPMorgan; $500 million revolver; $400 million equivalent euro term A; $750 million equivalent U.S. and euro seven-year term B talked at Libor plus 275 bps to 300 bps/Euribor plus 300 bps area, 0% floor, OID 99.5, 101 soft call for six months; help fund spin-off from Honeywell International Inc.; Switzerland-based manufacturer of turbocharger and electric-boosting technologies for light and commercial vehicle original equipment manufacturers and the aftermarket.

GOPHER RESOURCE LLC: $35 million incremental first-lien term loan due March 2025 talked at Libor plus 325 bps, 25 bps step-down at first-lien net leverage of less than 4.5x, 1% Libor floor, OID 99.75; Credit Suisse; fund a shareholder distribution; recycler of lead-acid batteries.

GRIZZLY ACQUISITIONS INC. (BROOKFIELD INFRASTRUCTURE): $1 billion seven-year senior secured covenant-light term B (Ba3) talked at Libor plus 375 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; Citigroup, Credit Suisse, HSBC, CIBC, RBC and Scotia; help fund acquisition of Enbridge Inc.’s Western Canadian midstream business by Brookfield.

HAYWARD INDUSTRIES INC.: $150 million add-on covenant-light first-lien term loan (B3) due Aug. 4, 2024 at Libor plus 350 bps, 0% Libor floor, OID 99.75, 101 soft call for six months; Bank of America, Morgan Stanley, Jefferies and Nomura; support acquisition of Paramount Leisure Industries Inc. and repay some second-lien term loan borrowings; Elizabeth, N.J., manufacturer of residential and commercial pool equipment.

HILLMAN GROUP INC.: $365 million incremental term B (B-) due May 31, 2025 talked at Libor plus 350 bps, 0% Libor floor, OID 99, 101 soft call for six months; Jefferies; fund acquisition of Big Time Products; Cincinnati-based distributor of fasteners, keys, engravable tags, letters, numbers, signs and other hardware-related items.

KINDERCARE (KUEHG CORP.): $1.177 billion first-lien term loan (including $205 million incremental) (B2/B-) due February 2025 talked at Libor plus 375 bps, 1% Libor floor, OID 99.5 on incremental, 101 soft call for six months; Credit Suisse and Barclays; support recently completed acquisition of Rainbow Child Care Center and extend existing term loan; Portland, Ore., provider of early childhood care and education services.

LUMENTUM HOLDINGS INC.: $500 million seven-year covenant-light term loan (Ba2/BB) at Libor plus 250 bps, step-down to Libor plus 225 bps at 0.5x net first-lien leverage with a $100 million cap on cash netting, 0% Libor floor, OID 99.75, 101 soft call for six months; Deutsche Bank; help fund acquisition of Oclaro Inc.; Milpitas, Calif., provider of photonics products for optical networking and lasers for industrial and consumer markets.

MAUREPAS PIPELINE LLC: New 5.5-year senior secured term loan and letter-of-credit facility priced between Libor plus 175 bps to 187.5 bps; MUFG and Societe Generale; support Alinda Capital Partners’ acquisition of a 100% interest in the class B membership of SemGroup Corp.’s Maurepas Pipeline.

NAVICURE: $108 million incremental first-lien term loan (B) due Nov. 1, 2024 talked at Libor plus 375 bps, 1% Libor floor, OID 99.5; Antares; fund an acquisition; Duluth, Ga., provider of SaaS-based revenue cycle management services.

PDC BRANDS (PARFUMS HOLDING CO. INC.): $559 million term B due June 30, 2024 talked at Libor plus 400 bps, step-down to Libor plus 375 bps at 6.1x total net leverage, 0% Libor floor, 101 soft call for six months; Nomura; repricing; Stamford, Conn., beauty and personal care products company.

PENN NATIONAL GAMING INC.: $1.129 billion seven-year term B at Libor plus 225 bps, 0% Libor floor, OID 99.75, 101 soft call for six months; Bank of America, Goldman Sachs, Fifth Third, U.S. Bank, Wells Fargo, Citizens, SunTrust and TD Securities; help fund acquisition of Pinnacle Entertainment Inc. and refinance existing term loan; Wyomissing, Pa., owner and manager of gaming and racing facilities and video gaming terminal operations.

PRESIDIO INC.: Expected closing Sept. 13; $160 million incremental senior secured term B due Feb. 2, 2024 talked at Libor plus 275 bps, 1% Libor floor, OID 99.5; Citigroup; repurchase shares from Apollo Global Management LLC; New York-based IT infrastructure solutions provider.

PROFRAC SERVICES LLC: $250 million five-year senior secured term B (B3/B) talked at Libor plus 450 bps, step-ups and step-downs based on total net leverage, 1% Libor floor, OID 99.5, 101 soft call; Barclays; refinance existing debt, partially repay perpetual preferred stock and general corporate purposes; Fort Worth, Texas, oil and gas services company.

QUORUM BUSINESS SOLUTIONS (QBS PARENT INC.): $230 million seven-year covenant-light first-lien term loan (B2/B/BB-) talked at Libor plus 450 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; Credit Suisse and Macquarie; help fund buyout by Thoma Bravo LLC from Silver Lake; provider of finance, operations and accounting software to energy companies.

REFINITIV (THOMSON REUTERS’ FINANCIAL & RISK): $8.75 billion equivalent credit facilities (B2/B/BB+); Bank of America, JPMorgan, Citigroup, Wells Fargo, Morgan Stanley, Goldman Sachs, UBS, Credit Suisse, HSBC, Deutsche Bank, Barclays, RBC and Sumitomo; $750 million revolver; $5.5 billion seven-year covenant-light term B talked at Libor plus 400 bps to 425 bps, 0% Libor floor, OID 99 to 99.5, 101 soft call for six months; $2.5 billion equivalent euro seven-year covenant-light term B talked at Euribor plus 425 bps, 0% floor, OID 99 to 99.5, 101 soft call for six months; help fund acquisition of a 55% stake by Blackstone, Canada Pension Plan Investment Board and GIC; data and financial technology platform.

SS&C TECHNOLOGIES INC.: $875 million incremental first-lien term B-5 (Ba3/BB) due April 2025 at Libor plus 250 bps, 25 bps step-down at senior secured net leverage of less than 4.75x, 0% Libor floor, OID 99.75; 101 soft call until October; Credit Suisse, Citigroup, Morgan Stanley and RBC; help fund acquisition of Eze Software from TPG Capital; Windsor, Conn., provider of investment and financial software-enabled services and software for the financial services and healthcare industries.

TENNECO: $4.9 billion credit facilities (Ba2/BB/BB+); JPMorgan and Barclays; $1.5 billion five-year revolver; $1.7 billion five-year term A; $1.7 billion seven-year term B at Libor plus 275 bps, 25 bps step-up if corporate ratings are lower than Ba3/BB-, 0% Libor floor, OID 99, 101 soft call for six months; help fund acquisition of Federal-Mogul from Icahn Enterprises LP and refinance existing debt; Lake Forest, Ill., designer, manufacturer and marketer of ride performance and clean air products and systems for automotive and commercial vehicle original equipment markets and the aftermarket.

TRAVERSE MIDSTREAM PARTNERS LLC: $150 million incremental first-lien term loan (B1) due 2024 talked at Libor plus 400 bps, 1% Libor floor, OID 99.5, 101 soft call for six months; JPMorgan; support Rover Pipeline; Edmond, Okla., midstream company.

TRITON SOLAR US ACQUISITION CO.: $415 million seven-year covenant-light term B (B3/B/BB) talked at Libor plus 525 bps to 550 bps, 0% Libor floor, OID 98.5 to 99; Bank of America, Societe Generale, Natixis and Goldman Sachs; help fund buyout by Permira; provider of video infrastructure technology.

ULTRA CLEAN HOLDINGS INC.: $415 million credit facilities (B1/B+); Barclays; $65 million five-year revolver; $350 million seven-year term B talked at Libor plus 375 bps to 400 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; support already completed acquisition of Quantum Global Technologies LLC; Hayward, Calif., developer and supplier of critical subsystems for the semiconductor and display capital equipment industries.

U.S. LUMBER GROUP LLC: $600 million credit facilities; SunTrust; $100 million five-year ABL revolver; $500 million seven-year covenant-light term loan (B3/B) talked at Libor plus 525 bps to 550 bps, 0% Libor floor, OID 99, 101 soft call for six months; fund acquisition of Alexandria Moulding and refinance existing debt; Atlanta-based two-step distributor of specialty building products.

WEB.COM GROUP INC.: $1.6 billion senior secured credit facilities; Morgan Stanley, RBC and Macquarie; $100 million five-year revolver (B2/B+); $1.08 billion seven-year covenant-light first-lien term B (B2/B+) talked at Libor plus 400 bps to 425 bps, 0% Libor floor, OID 99 to 99.5, 101 soft call for six months; $420 million eight-year covenant-light second-lien term loan (Caa2/CCC+) talked at Libor plus 800 bps to 825 bps, 0% Libor floor, OID 98.5 to 99, call protection 102, 101; help fund buyout by Siris Capital Group LLC and refinance existing debt; Jacksonville, Fla., provider of Internet services and online marketing solutions.

On The Horizon

AGILITI: $810 million credit facilities; JPMorgan, Citigroup and KeyBanc; $150 million revolver; $660 million delayed-draw first-lien term loan; refinance debt in connection with formation of Agiliti through the merger of Federal Street Acquisition Corp. and Universal Hospital Services Inc.; provider of healthcare technology management and service solutions.

ALLIED UNIVERSAL: New debt; help fund acquisition of U.S. Security Associates; Santa Ana, Calif., contract security services company.

CABOT MICROELECTRONICS CORP.: $1.265 billion senior secured credit facilities; JPMorgan, Bank of America and Goldman Sachs; $200 million revolver; $1.065 billion term loan; help fund acquisition of KMG Chemicals Inc.; Aurora, Ill., supplier of chemical mechanical planarization polishing slurries and CMP pads to the semiconductor industry.

DANA INC.: New debt financing; Citigroup; fund acquisition of the Drive Systems segment of the Oerlikon Group; Maumee, Ohio, supplier of drivetrain, sealing and thermal-management technologies.

DUN & BRADSTREET CORP.: $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.

EAGLECLAW MIDSTREAM II: New debt financing; Barclays; help fund acquisition of Caprock Midstream Holdings from Energy Spectrum Capital and Caprock Midstream Management; Midland, Texas, midstream operator.

ENVISION HEALTHCARE CORP.: $5.9 billion senior secured credit facilities; Credit Suisse, Citigroup, Morgan Stanley, Barclays, Goldman Sachs, Jefferies, UBS, RBC, HSBC and Mizuho; $550 million asset-based revolver expected at Libor plus 150 bps, 0% Libor floor; $300 million five-year revolver expected at Libor plus 300 bps, 0% Libor floor; $5.05 billion seven-year term B expected at Libor plus 300 bps, 0% Libor floor; help fund buyout by KKR; Nashville, Tenn., provider of physician-led services and post-acute care, and ambulatory surgery services.

FOREST CITY REALTY TRUST INC.: $1.6 billion credit facilities; Bank of America, Barclays, BMO, Citigroup, Deutsche Bank, RBC and TD; $350 million revolver; $1.25 billion term loan; help fund acquisition by Brookfield Asset Management Inc.; Cleveland-based real estate company.

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

GRAY TELEVISION INC.: $2.525 billion incremental term loan; Wells Fargo; help fund acquisition of Raycom Media Inc. and refinance certain debt at Raycom; Atlanta-based television broadcast company.

GREYSTAR REAL ESTATE PARTNERS: Roughly $3 billion senior term loan; JPMorgan; help fund acquisition of Education Realty Trust Inc.; Charleston, S.C., real estate company.

LIFEPOINT HEALTH INC.: $4.2 billion senior secured credit facilities; Citigroup, Barclays, RBC, Credit Suisse, Deutsche Bank and UBS; $800 million asset-based revolver; $3.4 billion term loan; help fund merger with RCCH HealthCare Partners; Brentwood, Tenn., healthcare provider.

NCI BUILDING SYSTEMS INC./PLY GEM PARENT LLC: $690 million in incremental loans; Credit Suisse and RBC; $475 million incremental term loan; $215 million incremental asset-based revolver; refinance existing NCI bank debt in connection with merger with Ply Gem; Cary, N.C., exterior building products company.

NOVELIS INC.: New debt financing; fund acquisition of Aleris Corp.; Atlanta-based aluminum rolled products and aluminum recycling 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.

RESIDEO TECHNOLOGIES INC.: $1.175 billion of credit facilities; $350 million revolver; $825 million term loan; help fund spin-off from Honeywell International Inc.; Morris Plains, N.J.-based provider of critical comfort and security solutions primarily in residential environments.

SPARTAN PAPER LLC: New debt financing; help fund buyout of Glatfelter’s Specialty Papers Business Unit by Lindsay Goldberg; specialty papers business.

SPEEDCAST INTERNATIONAL LTD.: $175 million add-on senior secured term loan (Ba3/BB-) due 2025; fund acquisition of Globecomm Systems Inc. from HPS Investment Partners LLC and Tennenbaum Capital Partners LLC and repay some revolver borrowings; Australia-based provider of remote communication and IT solutions.

SS&C TECHNOLOGIES HOLDINGS INC.: New debt financing; Deutsche Bank, Citigroup, RBC and Credit Suisse; help fund acquisition of Intralinks Holdings Inc. from Siris Capital Group; Windsor, Conn., provider of investment and financial software-enabled services and software for the financial services and health care industries.

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.

TRANSOCEAN LTD.: New debt financing; Citigroup; help fund acquisition of Ocean Rig UDW Inc.; Steinhausen, Switzerland, provider of offshore contract drilling services for oil and gas wells.

UNITED NATURAL FOODS INC.: $2.15 billion senior secured term loan; Goldman Sachs; fund acquisition of SuperValu; Providence, R.I.-based wholesale distributor to the natural, organic and specialty food industry.

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.

VETS FIRST CORP.: 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.

© 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.