Bank Loan Calendar: $3.161 billion deals being marketed

Upcoming Closings

COMMERCEHUB INC.: Expected closing late December; $790 million senior secured credit facilities; Morgan Stanley and Jefferies; $50 million five-year revolver (B2/B); $530 million seven-year covenant-lite first-lien term B (B2/B) at Libor plus 400 bps, 25 bps step-down at 1x turn of deleveraging, 0.75% Libor floor, OID 99.5, 101 soft call for six months; $210 million eight-year covenant-lite second-lien term loan (Caa2/CCC) at Libor plus 700 bps, 0.75% Libor floor, OID 99.5, hard call 102, 101; finance the sale of just under 50% of the company to Insight Partners by existing sponsors GTCR and Sycamore Partners; Albany, N.Y., provider of ecommerce solutions for enterprise retailers and brands.

GEMINI HDPE LLC: Expected closing Dec. 31; $600 million seven-year senior secured term B (Ba3/BB) at Libor plus 300 bps, 0.5% Libor floor, OID 99, 101 soft call for six months; Barclays and Morgan Stanley; amend and extend an existing term B and fund acquisition by Ineos Olefins and Polymers USA of Sasol’s 50% interest in the company; bimodal high-density polyethylene plant situated in La Porte, Tex.

POWER CORP. OF AMERICA: $125 million senior secured credit facilities; Citizens and SMBC; $25 million revolver; $100 million first-lien term loan talked at Libor plus 550 bps, 1% Libor floor, OID 98, 101 soft call; help fund buyout of parent company Goldfield Corp. by First Reserve; Port Orange, Fla., company that constructs and maintains energy infrastructure systems.

SYNCAPAY INC.: $500 million credit facilities (B2/B); BMO, Fifth Third and Truist; $50 million revolver; $450 million seven-year term B talked at Libor plus 625 bps to 650 bps, 1% Libor floor, OID 97, 101 soft call; help fund the merger of daVinci Payments and North Lane under Syncapay umbrella, and investment in Syncapay by Centerbridge Partners LP; Plano, Tex., acquirer of payment companies.

ZAXBY’S OPERATING CO. LP: Expected closing Dec. 28 week; $975 million senior secured credit facilities; Morgan Stanley, Goldman Sachs, Credit Suisse, KeyBanc and Fifth Third; $100 million five-year revolver (B2/B); $650 million seven-year covenant-lite first-lien term B (B2/B) at Libor plus 375 bps, 25 bps step-down upon consummation of an IPO, 0.75% Libor floor, OID 99.5, 101 soft call for six months; $225 million eight-year covenant-lite second-lien term loan (Caa2/CCC+) at Libor plus 650 bps, 0.75% Libor floor, OID 99.5, hard call 102, 101 (or 101 in year one and par thereafter for any prepayment or refinancing in connection with a whole-business securitization); help fund Goldman Sachs Merchant Banking Division’s acquisition of a significant stake in the company; Athens, Ga.-based casual restaurant chain.

ZYWAVE INC.: Expected closing late December; $171 million of term loans; Morgan Stanley, BNP Paribas, Antares and Ares; $121.5 million add-on covenant-lite first-lien term B due Nov. 12, 2027 at Libor plus 450 bps, 0.75% Libor floor, OID 98.5; $49.5 million privately placed add-on second-lien term loan; fund acquisition of Insurance Technologies Corp. (ITC) from Accel-KKR; Milwaukee-based insurance technology provider.

On The Horizon

ADAPTHEALTH CORP.: $600 million in new senior secured term loans; Jefferies; help fund acquisition of AeroCare Holdings Inc.; Plymouth Meeting, Pa., provider of home healthcare equipment, medical supplies to the home and related services.

ADTALEM: $1.4 billion senior secured credit facilities; Morgan Stanley, Barclays, Credit Suisse and MUFG; $400 million five-year revolver expected at Libor plus 375 bps, two 25 bps step-downs based on first-lien net leverage, 0% Libor floor; $1 billion seven-year covenant-lite first-lien term B expected at Libor plus 400 bps, two 25 bps step-downs based on first-lien net leverage, 0.5% Libor floor, 101 soft call for six months; help fund acquisition of Walden University from Laureate Education Inc. and refinance Adtalem’s existing credit agreement; Chicago-based workforce solutions provider.

ALASKA COMMUNICATIONS SYSTEMS GROUP INC.: New debt financing; ING, Societe Generale, SMBC and MUFG; help fund buyout by Macquarie Capital and GCM Grosvenor; Anchorage, Alaska, provider of advanced broadband and managed IT services.

ALLIED UNIVERSAL: $950 million interim seven-year covenant-lite first-lien term loan expected at Libor plus 425 bps; Credit Suisse, Morgan Stanley, Deutsche Bank, BNP Paribas, HSBC, Mizuho and Societe Generale; also €715,447,155 interim seven-year covenant-lite first-lien term loan expected at Euribor plus 475 bps; €300 million interim five-year revolver expected at Libor plus 425 bps; help fund acquisition of G4S plc; Santa Ana, Calif., provider of security services.

AMERICAN PUBLIC EDUCATION INC.: $195 million senior secured credit facilities; Macquarie; $20 million five-year revolver; $175 million six-year term B, 101 soft call; help fund acquisition of Rasmussen University; Charles Town, W.V., provider of higher learning.

CARDTRONICS PLC: New debt financing; help fund buyout by Apollo Global Management Inc. and Hudson Executive Capital LP; Houston-based ATM owner/operator.

CAREMAX INC.: New senior secured credit facilities; RBC; help fund formation through acquisitions of CareMax Medical Group LLC and IMC Medical Group Holdings LLC by Deerfield Healthcare Technology Acquisitions Corp.; technology-enabled care platform providing care and chronic disease management to seniors.

CINCINNATI BELL INC.: $1.6 billion senior secured credit facilities; Goldman Sachs, Regions Capital and Societe Generale; $250 million revolver; $1.35 billion of term loans; help fund acquisition by Macquarie Infrastructure Partners; Cincinnati-based provider of integrated communications solutions.

ENDURANCE INTERNATIONAL GROUP HOLDINGS INC.: $2.03 billion senior secured credit facilities; JPMorgan, BofA Securities, Deutsche Bank and UBS; $200 million revolver; $1.83 billion first-lien term loan; help fund buyout by Clearlake Capital Group LP; Burlington, Mass., provider of cloud-based platform solutions designed to help small and medium-sized businesses succeed online.

FORCEPOINT: New debt financing; Credit Suisse; help fund buyout by Francisco Partners from Raytheon Technologies; Austin, Tex., provider of cybersecurity solutions.

FOUNDATION BUILDING MATERIALS INC.: New credit facilities; Credit Suisse and BofA Securities; ABL facility; first-lien term loan; help fund buyout by American Securities LLC; Santa Ana, Calif.-based distributor of specialty building products.

GARRETT MOTION INC.: New exit financing; Citigroup, UBS, Credit Suisse and BNP Paribas; help fund acquisition by KPS Capital Partners LP through Chapter 11; Rolle, Switzerland, provider of passenger vehicle, commercial vehicle, aftermarket replacement and performance enhancement solutions.

GLOBAL CONNECT (NIELSENIQ): $1.95 billion equivalent credit facilities; BofA Securities, UBS, Barclays, Deutsche Bank, HSBC, RBC, MUFG and Wells Fargo; $350 million revolver; $950 million term loan; $650 million equivalent euro term loan; help fund buyout by Advent International and James Peck from Nielsen Holdings plc; Chicago-based provider of actionable information to consumer packaged goods manufacturers and retailers.

INGRAM MICRO INC.: New debt financing; JPMorgan, BofA Securities and Morgan Stanley; help fund buyout by Platinum Equity from HNA Technology Co. Ltd.; Irvine, Calif., provider of technology logistics services and solutions.

NTHRIVE TECHNOLOGY: New debt financing; Deutsche Bank, UBS, BMO and Jefferies; help fund buyout by Clearlake Capital Group LP from nThrive Holdings LP; provider of healthcare revenue cycle management software-as-a-service solutions.

RENT-A-CENTER INC.: New credit facilities; JPMorgan, Credit Suisse and HSBC; asset-based loan; term B; help fund acquisition of Acima Holdings LLC; Plano, Tex., omni-channel lease-to-own provider for the credit constrained customer.

TRINSEO SA: $400 million senior secured credit facility; Deutsche Bank and HSBC; help fund acquisition of Arkema SA’s polymethyl methacrylates and activated methyl methacrylates businesses (PMMA); Berwyn, Pa. materials company and manufacturer of plastics, latex binders and synthetic rubber.

TRUCK HERO INC.: New debt financing; Jefferies and BofA Securities; help fund buyout by L Catterton; Ann Arbor, Mich., provider of aftermarket accessories for pickup trucks and Jeep vehicles.

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