Presidio, Global Knowledge, Angus, Hoover Container, Paris Presents, Stonewall Gas on deck

By Sara Rosenberg

New York, Jan. 5 – The new issue leveraged loan calendar started to build on Monday with Presidio Inc., Global Knowledge Training LLC, Angus Chemical Co., Hoover Container Solutions, Paris Presents Inc. and Stonewall Gas Gathering LLC all emerging with plans to hold bank meetings this week.

Presidio details revealed

Presidio came out with timing, structure and price talk on its credit facility that will be used to help fund its buyout by Apollo Global Management LLC from American Securities LLC, according to a market source.

The deal is sized at $650 million and will launch with a bank meeting at 10:30 a.m. ET in New York on Wednesday, the source said.

Included in the facility is a $50 million revolver, and a $600 million seven-year first-lien covenant-light term loan talked at Libor plus 475 basis points with a 1% Libor floor, an original issue discount of 99 and 101 soft call protection for six months, the source continued.

Commitments are due on Jan. 20.

Credit Suisse Securities (USA) LLC, Barclays, Citigroup Global Markets Inc., RBC Capital Markets LLC and Goldman Sachs Bank USA are leading the deal.

Presidio is a New York-based IT infrastructure services provider.

Global Knowledge joins calendar

Global Knowledge will hold a bank meeting for 12:30 p.m. ET in New York on Tuesday to launch a $245 million credit facility, according to a market source.

The facility consists of a $20 million revolver, a $175 million six-year first-lien covenant-light term loan and a $50 million seven-year second-lien covenant-light term loan, the source said, adding that price talk is not yet available.

Commitments are due on Jan. 16.

Credit Suisse Securities (USA) LLC, Macquarie Capital and ING are leading the deal that will be used to help fund the buyout of the company by Rhone Capital LLC from MidOcean Partners.

Global Knowledge is a Cary, N.C.-based provider of IT and business skills training.

Angus plans loan

Angus Chemical set a bank meeting for Wednesday to launch $505 million of term loan debt, split between a $355 million U.S. dollar tranche and a $150 million euro-equivalent tranche, a source said.

J.P. Morgan Securities LLC, Morgan Stanley Senior Funding Inc. and Deutsche Bank Securities Inc. are leading the deal that will be used to help fund the $1,215,000,000 buyout of the company by Golden Gate Capital from The Dow Chemical Co.

Closing is expected this quarter, subject to regulatory approval and customary conditions.

Angus is a Buffalo Grove, Ill.-based manufacturer and distributor of nitroalkanes and their derivatives.

Hoover Container coming soon

Hoover Container Solutions scheduled a bank meeting for 10:30 a.m. ET on Wednesday to launch a $195 million credit facility, a market source remarked.

The facility consists of a $30 million revolver and a $165 million seven-year first-lien term loan, the source continued.

Macquarie Capital (USA) Inc. is leading the deal that will be used to help fund the buyout of the company by First Reserve.

Hoover Container is a Houston-based provider of chemical tanks, cargo carrying units and related products and services to the energy, petrochemical and related industrial end markets.

Paris Presents readies deal

Paris Presents set a bank meeting for Wednesday to launch a $137 million credit facility, according to a market source.

The facility consists of a $15 million five-year revolver, a $92 million six-year first-lien term loan and a $30 million seven-year second-lien term loan, the source said.

BNP Paribas Securities Corp. is leading the deal that will be used to fund the recently completed buyout of the company by Wasserstein & Co. LP from Mason Wells. Ontario Pension Board and Northwestern Mutual are co-investing in the transaction alongside Wasserstein.

Paris Presents is a Gurnee, Ill.-based provider of branded cosmetic and bath accessories to mass merchants, drug stores, specialty beauty stores and online retailers.

Stonewall sets meeting

Stonewall Gas Gathering will hold a bank meeting at 10:30 a.m. ET in New York on Wednesday to launch a new loan deal, a market source remarked.

Citigroup Global Markets Inc. is leading the deal.

Details on the transaction are not yet available, the source added.

OWIC emerges

Moving to the secondary market, a $54.75 million Offers Wanted In Competition surfaced during the session and with the deadline for offers set for 1 p.m. ET on Tuesday, according to a trader.

Some names in the portfolio are Albertson’s LLC, Bombardier Recreational Products Inc., CHS/Community Health Systems Inc., Emdeon Inc., Iasis Healthcare LLC, Landry’s Inc., Seaworld Parks & Entertainment Inc., Travelport LLC and US Airways Inc.

There are about 33 issuers in the portfolio, the trader added.

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