Bank Loan Calendar: $30.183 billion deals being marketed

April Bank Meetings

II VI INC.: Bank meeting April 23; $2.425 billion credit facilities; Bank of America, PNC, BMO, Citizens, Fifth Third, MUFG, SunTrust and TD Securities; $800 million seven-year covenant-lite term B (B1//BB+); $450 million five-year revolver at Libor plus 200 bps; $1.175 billion five-year term A at Libor plus 200 bps; help fund acquisition of Finisar Corp.; Saxonburg, Pa., engineered materials and optoelectronic components company.

API TECHNOLOGIES CORP.: Bank meeting April 23; $435 million credit facilities; RBC, UBS and Antares; $50 million revolver; $245 million first-lien term loan; $90 million privately placed second-lien term loan; $50 million privately placed second-lien delayed-draw term loan; help fund buyout by AEA Investors from J.F. Lehman & Co.; Marlborough, Mass., provider of high performance RF, microwave, millimeterwave, power, and security solutions.

CHARTER NEX US INC.: Bank meeting April 24; $685 million of incremental bank debt; Jefferies and Nomura; $25 million incremental revolver due May 16, 2022; $660 million incremental first-lien term loan due May 16, 2024, 101 soft call for six months; fund an acquisition; manufacturer of highly engineered specialty films.

FLEXERA SOFTWARE LLC: Lender call April 23; $260 million of incremental term loans; Jefferies; $220 million incremental first-lien term loan; $40 million incremental second-lien term loan; recapitalization; Itasca, Ill., provider of software and services that enable software publishers and device makers to install, enforce and deploy software licenses.

JBS USA LUX SA: Lender call April 23; $1.9 billion seven-year term B; Barclays; refinance existing term B; Greeley, Colo., animal protein products processing company.

KONTOOR BRANDS INC.: Bank meeting April 23; $1.05 billion of term loans; JPMorgan and Barclays; $300 million seven-year covenant-lite term B, 101 soft call for six months; $750 million term A; help fund spin-off from VF Corp. and general corporate purposes; Greensboro, N.C., jeanswear company.

NVA HOLDINGS INC.: Lender call April 23; $200 million incremental first-lien term loan (B) due February 2025; Bank of America; fund acquisitions, refinance revolver borrowings and fund cash to the balance sheet; Agoura Hills, Calif., owner of independent freestanding veterinary hospitals.

TAMKO BUILDING PRODUCTS INC.: Bank meeting April 23; $600 million term B (BB-); JPMorgan; fund a recapitalization and distribution to the existing shareholders; Joplin, Mo., manufacturer of residential roofing products, decking and railing products, waterproofing, cements, and coatings.

WELLS ENTERPRISES INC.: Lender call April 23; $100 million add-on covenant-lite term loan (B1) due 2025; BMO; fund acquisition of Fieldbrook Foods from Arbor Investments; Le Mars, Iowa, ice cream and frozen treat manufacturer.

WHEEL PROS: Bank meeting April 25; $416 million of term loans; UBS, Antares, Deutsche Bank and ING; $326 million incremental first-lien term loan; $90 million privately placed incremental second-lien term loan; fund an acquisition; distributor of proprietary branded wheels and performance tires.

Upcoming Closings

ACPRODUCTS INC.: $578 million credit facilities; Barclays; $75 million 4.75-year ABL revolver; $400 million five-year first-lien term loan (B3/B+) talked at Libor plus 550 bps, 0% Libor floor, OID 97 to 98, 101 soft call; $103 million 5.5-year privately placed second-lien term loan (Caa2/CCC+); fund the acquisition of Elkay Wood Products Co. and refinance existing debt; The Colony, Texas, manufacturer and distributor of cabinets.

ADIENT PLC: $750 million five-year covenant-lite term B (Ba2/BB-) talked at Libor plus 450 bps, 0% Libor floor, OID 99; Bank of America; refinance existing debt; Plymouth, Mich., manufacturer of automotive seating.

APTEAN: $650 million credit facilities; Golub and Macquarie; $50 million five-year revolver; $350 million seven-year covenant-lite first-lien term loan (B2/B-) at Libor plus 425 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; $100 million privately placed covenant-lite delayed-draw first-lien term loan; $150 million eight-year privately placed covenant-lite second-lien term loan; back a joint investment from TA Associates and Vista Equity Partners; Alpharetta, Ga., provider of mission-critical, industry-specific enterprise software solutions.

BGIS (BROOKFIELD GLOBAL INTEGRATED SOLUTIONS): Expected closing May 27 week; $455 million seven-year senior secured covenant-lite first-lien term loan (B1/B) talked at Libor plus 400 bps to 425 bps, 0% Libor floor, OID 99, 101 soft call for six months; Citigroup, Morgan Stanley, BMO, TD and MUFG; help fund buyout by CCMP Capital Advisors LP from Brookfield Business Partners; integrated facilities management company.

BLUCORA INC.: $125 million add-on term B due 2024 at Libor plus 300 bps, 1% Libor floor, OID 99.5; JPMorgan; help fund acquisition of 1st Global Inc.; Irving, Texas, provider of tax-smart financial solutions.

CARROLS RESTAURANT GROUP INC.: $550 million credit facilities (B2/B); Wells Fargo, Rabobank, M&T Bank and SunTrust; $125 million five-year revolver; $425 million seven-year covenant-lite term B at Libor plus 325 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; refinance debt assumed in connection with the acquisition of restaurants from Cambridge Franchise Holdings LLC and refinance Carrol’s existing debt; Syracuse, N.Y., restaurant franchisee and operator.

CLOVER TECHNOLOGIES GROUP (4L TECHNOLOGIES INC.): $640 million credit facilities (B3/B); UBS, Bank of America and Antares; $45 million revolver; $595 million 3.5-year covenant-lite first-lien term loan talked at Libor plus 550 bps to 600 bps, 0% Libor floor, OID 98.5, soft call 102, 101; refinance existing debt; Hoffman Estates, Ill., collector and recycler of imaging supplies.

CONTERRA ULTRA BROADBAND: $365 million credit facilities; TD Securities; $50 million five-year revolver (B2/B-); $250 million seven-year covenant-lite first-lien term B (B2/B-) talked at Libor plus 425 bps to 450 bps, 0% Libor floor, OID 99, 101 soft call for six months; $65 million eight-year covenant-lite second-lien term loan (Caa2/CCC) talked at Libor plus 825 bps to 850 bps, 0% Libor floor, OID 98.5, call protection 102, 101; refinance existing debt and general corporate purposes; provider of bandwidth infrastructure services.

E.W. SCRIPPS CO.: $765 million seven-year covenant-lite incremental senior secured term B (Ba3/BB/BB+) at Libor plus 275 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; Wells Fargo, Bank of America, JPMorgan, Morgan Stanley and SunTrust; fund acquisition of 15 television stations from Cordillera Communications and help fund acquisition of eight television stations from Nexstar Media Group Inc.-Tribune Media merger divestitures; Cincinnati-based broadcasting and digital media company.

FLOW CONTROL (FR FLOW CONTROL LUXCO 1 SARL): $290 million credit facilities; BNP Paribas and Natixis; $40 million revolver (B3/B); $180 million term B (B3/B) talked at Libor plus 600 bps, 1% Libor floor, OID 98, 101 soft call for six months; $70 million cash collateralized term C (Ba3/BB-) talked at Libor plus 600 bps, 1% Libor floor, OID 98, 101 soft call for six months; help fund buyout by First Reserve from the Weir Group plc; designer, manufacturer and aftermarket services provider of engineered valves and pumps used in energy and broader industrial applications.

GLOBALTRANZ ENTERPRISES INC.: $390 million of term loans (B2/B-); JPMorgan; $310 million seven-year first-lien term loan talked at Libor plus 475 bps to 500 bps, 0% Libor floor, OID 99, 101 soft call for six months; $80 million delayed-draw seven-year first-lien term loan talked at Libor plus 475 bps to 500 bps, 0% Libor floor, OID 99; help fund buyout by Providence Equity Partners LLC from the Jordan Co. LP; Scottsdale, Ariz., technology-driven third-party logistics solutions provider.

ION INVESTMENT GROUP: $2.2 billion equivalent U.S. and euro term loan; UBS; U.S. term loan talked at Libor plus 550 bps, 0% Libor floor, OID 98.5; euro term loan talked at Euribor plus 500 bps, 1% floor, OID 98.5; refinancing debt of its corporates division, which include Openlink Financial LLC, Wall Street Systems, Triple Point Technology and Allegro, and fund a dividend; provider of mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporations.

KESTRA FINANCIAL INC.: $485 million credit facilities (B3/B+); UBS, Credit Suisse, Bank of America, Goldman Sachs and SunTrust; $75 million five-year revolver; $410 million seven-year term loan talked at Libor plus 425 bps to 450 bps, 0% Libor floor, OID 99, 101 soft call for six months; help fund the buyout of the company by Warburg Pincus LLC from Stone Point Capital LLC; Austin, Texas, provider of an advisor platform to financial professionals.

MOMENTIVE PERFORMANCE MATERIALS INC. (MPM HOLDINGS INC.): Expected closing late April; roughly $839 million equivalent of term loans (B1/B+); BNP Paribas and Citigroup; $750 million five-year covenant-lite term B at Libor plus 325 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; €78 million privately placed five-year covenant-lite term B at Euribor plus 375 bps, 0% floor, OID 99.5; help fund acquisition by SJL Partners LLC, KCC Corp. and Wonik QnC Corp.; Waterford, N.Y., silicones and advanced materials company.

NEO TECH INC.: $315 million first-lien senior secured term B (B2/B+) talked at Libor plus 500 bps to 525 bps, 1% Libor floor, OID 98.5, 101 soft call for six months; Goldman Sachs and Wells Fargo; refinance existing debt; Chatsworth, Calif., designer and manufacturer of high-reliability electronic and micro-electronic system design and manufacturing services.

NEOVIA LOGISTICS: $600 million credit facilities; Goldman Sachs and Macquarie; $75 million super-senior revolver; $325 million five-year covenant-lite first-lien term loan (B3) talked at Libor plus 650 bps, 0% Libor floor, OID 97 to 98, call protection 105 for 18 months, 101 for months 19 through 30; $200 million privately placed second-lien term loan; help fund a comprehensive recapitalization; Irving, Texas, third-party logistics company.

PLAYPOWER INC.: $485 million credit facilities; SG Americas; $45 million revolver (B2/B); $340 million seven-year covenant-lite first-lien term loan (B2/B) talked at Libor plus 475 bps, 0% Libor floor, OID 99, 101 soft call for six months; $100 million privately placed 7.5-year second-lien term loan (Caa2/CCC+); fund a dividend and refinance existing debt; Huntersville, N.C., manufacturer of commercial playground equipment, shade structures and floating dock systems.

PROCESS SOLUTIONS: $405 million credit facilities (B/BB-); Credit Suisse, Goldman Sachs and Jefferies; $50 million revolver; $355 million seven-year covenant-lite first-lien term loan talked at Libor plus 575 bps to 600 bps, 0% Libor floor, OID 98, 101 soft call for six months; help fund buyout by One Rock Capital Partners LLC from Newell Brands; Greenville, S.C., manufacturer and material sciences company.

QLIK TECHNOLOGIES INC.: Expected closing May 6 week; $465 million incremental covenant-lite term B (B3/B) due April 26, 2024 at Libor plus 425 bps, 0% Libor floor, OID 99, 101 soft call for six months; Morgan Stanley and Goldman Sachs; help fund acquisition of Attunity Ltd.; King of Prussia, Pa., data analytics company.

SUNDYNE US PURCHASER INC.: $550 million credit facilities (B2/B); Morgan Stanley, Deutsche Bank, Citigroup, Credit Suisse, Goldman Sachs and RBC; $100 million five-year revolver; $450 million seven-year covenant-lite first-lien term loan talked at Libor plus 400 bps to 425 bps, 0% Libor floor, OID 99, 101 soft call for six months; recapitalization and fund a distribution to shareholders; Arvada, Colo., designer and manufacturer of pumps and compressors.

SURGICAL SPECIALTIES CORP.: $265 million credit facilities; Capital One and SunTrust; $30 million five-year revolver; $235 million six-year term B talked at Libor plus 475 bps to 500 bps, 0% Libor floor, OID 99; refinance existing debt; manufacturer of surgical products.

TRADE ME GROUP LTD.: $605 million seven-year covenant-lite first-lien term loan (B1/B) at Libor plus 425 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; Credit Suisse, Nomura, UBS, Macquarie and Jefferies; also NZ$276 million privately placed second-lien loan; help fund buyout by Apax Partners; operator of online classified marketplaces for motor vehicles, property and jobs in New Zealand.

TRANSACT (RCP VEGA INC.): $260 million seven-year covenant-lite first-lien term loan (B3/B) at Libor plus 475 bps, 50 bps step-down at B3/B- corporate ratings with a stable outlook, 0% Libor floor, OID 98.5, 101 soft call for six months; Deutsche Bank, Macquarie and UBS; help fund buyout by Reverence Capital Partners LP from Blackboard Inc.; Phoenix-based integrated payment and software solutions platform that facilitates mission-critical higher education student transactions.

TRAVELPORT WORLDWIDE LTD.: $3.45 billion credit facilities; Bank of America, Deutsche Bank, Macquarie, Credit Suisse and Barclays; $150 million revolver (B2/B+/BB-); $2.8 billion seven-year covenant-lite first-lien term loan (B2/B+/BB-) at Libor plus 500 bps, 0% Libor floor, OID 98, 101 soft call; $500 million eight-year covenant-lite second-lien term loan (Caa2/CCC+/B-) at Libor plus 900 bps, 0% Libor floor, OID 97, call protection 102, 101; help fund buyout by Siris Capital Group LLC and Evergreen Coast Capital Corp.; Langley, U.K., travel technology company.

TWIN RIVER MANAGEMENT GROUP INC.: $600 million credit facilities (Ba2/BB); Citizens and Credit Suisse; $250 million revolver; $350 million term B talked at Libor plus 300 bps, 0% Libor floor, OID 99, 101 soft call for six months; refinance existing debt and general corporate purposes; Lincoln, R.I., owner and operator of casino resorts.

UFC: $435 million add-on first-lien term B (B2/B+) due April 2026 at Libor plus 325 bps, 1% Libor floor, OID 99.75, 101 soft call for six months; Goldman Sachs; refinance existing second-lien term loan; Las Vegas-based mixed martial arts organization and pay-per-view event provider.

ULTIMATE SOFTWARE GROUP INC.: $2.575 billion senior secured credit facilities (B2/B); Credit Suisse, Nomura, Bank of America, BNP and Ares; $275 million revolver; $2.3 billion seven-year covenant-lite first-lien term loan at Libor plus 375 bps, 25 bps step-down at 5x total net leverage, 0% Libor floor, OID 99.75, 101 soft call for six months; also $900 million privately placed second-lien term loan committed by Ares and GSO; help fund buyout by an investor group led by Hellman & Friedman; Weston, Fla., provider of human capital management solutions in the cloud.

VIZIENT INC.: Expected closing May 6; $1.6 billion senior secured credit facilities (Ba3/BB-); Barclays, Bank of America and JPMorgan; $500 million revolver; $600 million term A; $500 million seven-year term B at Libor plus 275 bps, 25 bps step-down at 3x total net leverage, 0% Libor floor, OID 99.5, 101 soft call for six months; help refinance existing debt; Irving, Texas, network of not-for-profit health care organizations.

WRENCH GROUP: Expected closing April 30; $420 million credit facilities; Jefferies, Macquarie and Antares; $45 million five-year revolver (B2/B); $225 million seven-year first-lien term loan (B2/B) at Libor plus 425 bps, 0% Libor floor, OID 99, 101 soft call for six months; $75 million delayed-draw first-lien term loan (B2/B) at Libor plus 425 bps, 0% Libor floor, OID 99; $75 million privately placed eight-year second-lien term loan; help fund buyout by Leonard Green & Partners from Investcorp; provider of home maintenance and repair services.

On The Horizon

ACI WORLDWIDE: $500 million incremental senior secured first-lien term loan; Bank of America; help fund acquisition of Speedpay from Western Union Co.; Naples. Fla., provider of real-time electronic payment and banking solutions.

AVEANNA HEALTHCARE: New debt financing; Barclays, BMO, Jefferies and Deutsche Bank; fund acquisition of the home healthcare division of Maxim Healthcare Services; Atlanta-based home healthcare company.

BIOSCRIP/OPTION CARE ENTERPRISES INC.: $1.075 billion senior secured credit facilities; Bank of America; $925 million seven-year covenant-lite first-lien term loan expected at Libor plus 450 bps, 25 bps step-down based on leverage or ratings, 0% Libor floor, 101 soft call for six months; $150 million five-year asset-based revolver expected at Libor plus 150 bps; help fund merger; provider of home and alternate treatment site infusion therapy services.

BOLTHOUSE FARMS: New debt financing; help fund buyout by Butterfly Equity from Campbell Soup Co.; Bakersfield and Santa Monica, Calif., producer of organic beverages, dressings and carrots.

CATALENT INC.: $650 million incremental senior secured term loan; JPMorgan; help fund acquisition of Paragon Bioservices Inc.; Somerset, N.J.-based provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products.

ELECTRONICS FOR IMAGING INC.: New debt financing; RBC, KKR, Deutsche Bank, Barclays, Credit Suisse and Macquarie; help fund buyout by Siris Capital Group LLC; Fremont, Calif., technology company focused on the transformation to digital imaging from analog.

E.W. SCRIPPS CO.: New term B; Morgan Stanley and Wells Fargo; help fund acquisition of eight television stations from Nexstar Media Group Inc.-Tribune Media merger divestitures; Cincinnati-based broadcasting and digital media company.

GOODNIGHT MIDSTREAM: New debt financing; help fund buyout by TPG Capital from Tailwater Capital and private investors; Dallas-based midstream provider of oilfield water management infrastructure.

INMARSAT: $3.3 billion credit facilities; Barclays, Bank of America and UBS; $600 million five-year revolver expected at Libor plus 350 bps, 0% Libor floor; $2.5 billion seven-year covenant-lite first-lien term loan expected at Libor plus 425 bps, 0% Libor floor, 101 soft call for six months; up to $200 million seven-year first-lien delayed-draw covenant-lite term loan expected at Libor plus 425 bps, 0% Libor floor; help fund buyout by Apax, Warburg Pincus, Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board; London-based satellite telecommunications company.

MULTI-COLOR CORP.: $1.5 billion senior secured credit facilities; Bank of America and Deutsche Bank; $300 million revolver; $1.2 billion term loan; help fund buyout by Platinum Equity LLC and merger with WS Packaging Group; Cincinnati-based label maker.

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.

ORYX: $1.5 billion term B; Barclays, Goldman Sachs, RBC and Jefferies; help fund buyout by Stonepeak Infrastructure Partners from Quantum Energy Partners, Post Oak Energy Capital, Concho Resources, WPX Energy and other investors, and refinance existing debt; Midland, Texas, midstream crude operator.

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.

PROGRESS: $185 million term loan; help fund acquisition of Ipswitch Inc.; Bedford, Mass., provider of application development and digital experience technologies.

RANPAK CORP. (ONE MADISON CORP.): New senior secured credit facilities; Goldman Sachs; $45 million five-year revolver; $289.2 million seven-year covenant-lite first-lien term loan; €140 million first-lien term loan; help fund acquisition by One Madison Corp. from Rhône Capital; Concord Township, Ohio, provider of fiber-based, environmentally sustainable protective packaging solutions.

SMART & FINAL STORES INC.: New debt financing; help fund buyout by Apollo Global Management LLC; Commerce, Calif., food retailer.

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-lite 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.

TOWN SPORTS INTERNATIONAL LLC: New credit facilities; revolver; term loan; refinance existing bank debt and general corporate purposes; Jupiter, Fla., owner and operator of fitness clubs.

UGI CORP.: Roughly $500 million term loan; help fund acquisition of AmeriGas Partners LP; King of Prussia, Pa., distributor and marketer of energy products and services.

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.

U.S. RENAL CARE INC.: New debt financing; Barclays, Bank of America, BMO, Macquarie and SunTrust; help fund buyout by investor group led by Chris Brengard and management, along with Bain Capital Private Equity, Summit Partners, Revelstoke Capital Partners and Mark Caputo; Plano, Texas, provider of dialysis services.

VICTORY CAPITAL HOLDINGS INC.: New debt financing; Barclays and RBC; fund acquisition of USAA Asset Management Co.; 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.