Bank Loan Calendar: $15.319 billion deals being marketed

APRIL BANK MEETINGS

GAVILON LLC: Bank meeting April 14; $1.5 billion asset-based revolver talked at Libor plus 250 bps, 37.5 bps commitment fee; JPMorgan, BNP Paribas, BOTM, ING, Societe Generale, Barclays, Calyon, Fortis, Credit Suisse and CoBank; help fund acquisition by Ospraie Management from ConAgra Foods Inc.; Omaha, Neb., grain merchandising, fertilizer distribution, agricultural and energy commodities trading and services, and grain, animal and oil seed byproducts merchandising and distribution business.

KINETIC CONCEPTS INC.: Bank meeting April 17; $1.9 billion senior secured credit facility; Bank of America and JPMorgan; $300 five-year million revolver expected at Libor plus 325 bps, 3.25% Libor floor; $1 billion five-year term A expected at Libor plus 325 bps, 3.25% Libor floor, OID 99; $600 million six-year term B expected at Libor plus 350 bps, 3.25% Libor floor, OID 95; help fund acquisition of LifeCell Corp.; San Antonio-based medical technology company.

MAY BANK MEETINGS

O'REILLY AUTOMOTIVE INC.: $1.2 billion asset-based revolver; Bank of America and Lehman; help fund acquisition of CSK Auto Corp., refinance existing debt and provide liquidity; Springfield, Mo., auto parts retailer.

UPCOMING CLOSINGS

AGCO CORP.: $300 million five-year unsecured revolver with pricing ranging from Libor plus 75 bps to 175 bps based on leverage; Rabobank; refinance existing revolver; Duluth, Ga., manufacturer and distributor of agricultural equipment and related replacement parts.

ALLEN-VANGUARD CORP.: C$250 million three-year secured credit facility; RBC Capital Markets; C$200 million term loan at Libor plus 350 bps; C$50 million revolver at Libor plus 350 bps; repay existing senior debt facilities; Ottawa, Can., provider of proprietary counter-terrorist equipment systems.

ALLIANT TECHSYSTEMS INC.: New credit facility; Bank of America and Goldman Sachs, with Bank of America left lead; help fund acquisition of MacDonald, Dettwiler and Associates' information systems and geospatial information services businesses; Edina, Minn., supplier of aerospace and defense products.

ANCHOR DRILLING FLUIDS USA INC.: $125 million five-year senior credit facility; Jefferies; $15 million revolver talked at Libor plus 500 bps, 3.5% Libor floor, OID 99; $110 million term B talked at Libor plus 500 bps, 3.5% Libor floor, OID 99; help fund buyout by Castle Harlan Inc.; Tulsa, Okla., drilling fluids company.

BAUER HOCKEY: $117 million credit facility; GE Capital; $75 million revolver at Libor plus 450 bps, OID 99; $42 million term loan at Libor plus 450 bps, OID 99; help fund acquisition by Kohlberg & Co. and W. Graeme Roustan from Nike Inc.; hockey manufacturer.

CONSOLIDATED PRECISION PRODUCTS: $157 million credit facility; GE Capital and the Bank of Ireland; $20 million revolver talked at Libor plus 450 bps, OID 981/2; $137 million term loan talked at Libor plus 450 bps, OID 981/2; help fund acquisition by Arlington Capital; manufacturer of highly engineered, complex metal components and assemblies.

DELPHI CORP.: $6.05 billion exit financing credit facility; JPMorgan and Citigroup; $1.4 billion six-year ABL revolver at Libor plus 300 bps, 150 bps unused fee; $2 billion seven-year first-lien term loan at Libor plus 575 bps, 3.25% Libor floor for life, call protection 102, 101, OID 92; $2.65 billion eight-year second-lien term loan issued to GM at Libor plus 695 bps, 3.25% Libor floor for life, call protection of 103, 1011/2; repay DIP, fund other payments required upon emergence and conduct post-reorganization operations; Troy, Mich., automotive electronics manufacturer.

HUDSON GROUP: $295 million credit facility; CIT; $60 million revolver at Libor plus 400 bps, OID 99; $235 million first-lien term loan at Libor plus 400 bps, OID 99; also $125 million second-lien term loan at 13% led by Magnetar; help fund buyout by Advent International; East Rutherford, N.J.-based travel retail specialist.

LOCAL INSIGHT REGATTA HOLDINGS INC.: $365 million senior secured credit facility (BB-); JPMorgan, Lehman, Wachovia and Merrill Lynch; $30 million six-year revolver; $335 million seven-year term loan talked at Libor plus 400 bps, Libor floor 3.75%, OID 94; refinance existing debt and help fund the acquisition of Berry Co.'s Independent Line of Business from L.M. Berry and Co.; Englewood, Colo., publisher of print and online directories.

MACROVISION CORP.: $500 million five-year term B (Ba1/BB-) talked at Libor plus 350 bps to 375 bps, 3.5% Libor floor, OID 97, 101 soft call; JPMorgan and Merrill Lynch; help fund acquisition of Gemstar-TV Guide International, Inc.; Santa Clara, Calif., provider of services that enable businesses to protect, enhance and distribute their digital goods to consumers across multiple channels.

NEWPORT TELEVISION LLC: $590 million senior secured credit facility; Wachovia, Goldman Sachs and UBS; $75 million revolver; $515 million term loan talked at Libor plus 500 bps, 3% Libor floor, OID 95; help fund Providence Equity Partners Inc.'s completed acquisition of Clear Channel Communications Inc.'s television group.

RESOLUTE ENERGY PARTNERS LP: $400 million five-year senior secured revolver talked at Libor plus 137.5 bps; Wachovia; refinance existing bank debt and for general corporate purposes; Denver-based independent oil and gas partnership.

SM&P UTILITY RESOURCES INC.: $115 million six-year credit facility; GE Capital; $50 million revolver at Libor plus 450 bps, 3% Libor floor, OID 981/2; $65 million term loan at Libor plus 450 bps, 3% Libor floor, OID 981/2; help fund buyout by Stripe Acquisition Inc. from The Laclede Group Inc.; Carmel, Ind., underground locating and marking service business.

SP NEWSPRINT CO.: $275 million credit facility; GE Capital; $225 million term loan talked at Libor plus 700 bps, 4% Libor floor, 103 call protection for one year, OID 95 to 97 area; $50 million three-year asset-based revolver talked at Libor plus 250 bps; help fund already completed acquisition by White Birch Paper Co. from Media General Inc., Cox Enterprises Inc. and McClatchy Co.; Atlanta-based operator of newsprint mills.

VENTURE TRANSPORT LOGISTICS LLC: $200 million senior credit facility; GE Capital and CIT; $50 million revolver talked at Libor plus 500 bps, 3.25% Libor floor, OID 98; $150 million term B talked at Libor plus 500 bps, 3.25% Libor floor, OID 98; help fund acquisitions and refinance existing debt; Lafayette, La., provider of expedited land transportation and logistics services.

VISTAR CORP.: $1.1 billion asset-based revolver talked at Libor plus 225 bps; Wachovia, Credit Suisse and GE Capital; help fund buyout of Performance Food Group Co. by Blackstone Group and Wellspring Capital Management and merger into Vistar; Denver-based foodservice distributor.

WEST CORP.: $130 million term loan talked at Libor plus 500 bps, 3.5% Libor floor, OID 97, call protection 105, 102; Wachovia; help fund acquisition of Genesys SA; Omaha, Neb., provider of outsourced communication services.

ON THE HORIZON

19X INC.: $650 million credit facility; Credit Suisse and Deutsche Bank; $50 million 41/2-year revolver expected at Libor plus 450 bps, 75 bps commitment fee; $400 million five-year first-lien term loan expected at Libor plus 450 bps, OID 97; $200 million 51/2-year second-lien term loan expected at Libor plus 750 bps, OID 97, call protection 103, 102, 101; help fund buyout of CKX Inc.; New York-based company engaged in the ownership, development and commercial utilization of entertainment content.

ALLIANCE DATA SYSTEMS CORP.: $4.4 billion senior secured credit facility; Credit Suisse; $3.9 billion seven-year term loan; $500 million six-year revolver; help fund buyout by the Blackstone Group; Dallas-based provider of marketing, loyalty and transaction services.

AMERICAN CAMPUS COMMUNITIES INC.: $200 million three-year term loan; KeyBank; also $45 million revolver add-on; help fund acquisition of GMH Communities Trust; Austin, Texas, developer, owner and manager of student housing properties.

BAHAMAS OIL REFINING CO.: New senior secured credit facility; ABN Amro; help fund buyout by First Reserve Corp.; Freeport, Bahamas, oil storage terminal.

BCE INC.: Up to C$23.05 billion credit facility; Citigroup, Deutsche Bank, RBS Securities and TD Securities; C$2 billion six-year revolver; C$4.2 billion six-year term A; up to C$16.5 billion U.S. equivalent seven-year term B; up to C$350 million U.S. equivalent one-year delayed-draw term loan; help fund buyout by Teachers Private Capital, Providence Equity Partners Inc. and Madison Dearborn Partners, LLC; Montreal-based communications company.

BRIGHT HORIZONS FAMILY SOLUTIONS INC.: $440 million senior secured credit facility; Goldman Sachs; $75 million six-year revolver; $365 million seven-year term B; help fund buyout by Bain Capital Partners LLC; Watertown, Mass., provider of employer-sponsored child care, early education and work/life services.

CENGAGE LEARNING: $625 million term B add-on; RBS Securities; help fund acquisition of Houghton Mifflin College Division; Stamford, Conn., provider of print and digital instructional and reference materials for the higher education and library reference markets.

CHC HELICOPTER CORP.: $1.25 billion credit facility; Morgan Stanley; $850 million in term loan debt; $150 million revolver; $50 million letter-of-credit facility; $50 million acquisition and capital expenditure loan; $150 million lease backstop facility; help fund buyout by First Reserve Corp.; Vancouver, Can., provider of helicopter services to the global offshore oil and gas industry.

CLEAR CHANNEL COMMUNICATIONS INC.: $19.525 billion credit facility; Citigroup, Deutsche Bank, Morgan Stanley, Credit Suisse, RBS and Wachovia; $1 billion receivables-backed revolver; $2 billion senior secured revolver; $1.25 billion senior secured term A; $12.65 billion senior secured term B; up to $2 billion senior secured term C (to be reduced by proceeds from asset sales prior to closing); $625 million senior secured delayed-draw term loan; help fund LBO by Thomas H. Lee Partners, LP and Bain Capital Partners, LLC; San Antonio media and entertainment company specializing in "gone from home" entertainment and information services.

DURA AUTOMOTIVE SYSTEMS INC.: $340 million exit financing credit facility; $150 million first-lien term loan; $110 million revolver; $80 million second-lien term loan provided by some creditors; repay DIP and pre-bankruptcy second-lien term loan and fund plan distributions; Rochester Hills, Mich., automotive parts maker.

ENERGY AND INDUSTRIAL UTILITIES CO. LLC: $425 million credit facility (Ba3/BB); Morgan Stanley and Barclays Capital; $375 million term loan; $50 million revolver; help fund distribution to DTE Energy Services Inc. in connection with buyout of 50% interest by GE Corporate Lending; portfolio of power and industrial projects.

ESSEX CRANE RENTAL CORP.: $170 million five-year asset-based revolver at Libor plus 225 bps; help fund buyout by Hyde Park Acquisition Corp. from Kirtland Capital Partners; Chicago-based owner of a specialized fleet of lattice-boom crawler cranes and attachments.

GETTY IMAGES INC.: $1.045 billion senior secured credit facility; Barclays Capital, GE and RBS; $75 million five-year revolver expected at Libor plus 450 bps, 3.25% Libor floor, 50 bps commitment fee; $705 million seven-year term loan expected at Libor plus 450 bps, 3.25% Libor floor; $265 million 40-day delayed-draw, seven-year final maturity, term loan expected at Libor plus 450 bps, 3.25% Libor floor, 50 bps commitment fee; help fund buyout by Hellman & Friedman LLC; Seattle-based creator and distributor of still imagery, footage and multi-media products, and a provider of other forms of digital content.

GLOBAL BPO SERVICES CORP.: $108.696 million five-year senior secured credit facility; PNC Capital Markets; $100 million revolver expected at a range of Libor plus 200 bps to 250 bps; $5.81 million domestic term loan expected at a range of Libor plus 275 bps to 325 bps; $2.886 million foreign term loan expected at a range of Libor plus 275 bps to 325 bps; in connection with acquisition of Stream Holdings Corp.; Boston-based special-purpose acquisition corporation formed for the purpose of acquiring a business process outsourcing firm.

HANCOCK FABRICS INC.: $100 million 60-month exit financing revolver expected at Libor plus 225 bps; GE Capital; refinance existing debt and for working capital purposes; Baldwyn, Miss., specialty retailer of fabric and related home sewing and decorating accessories.

HECLA MINING CO.: New bank debt expected to be priced at Libor plus 200 bps or less; Scotia Capital; help fund acquisition of Greens Creek mine from Rio Tinto; Coeur d'Alene, Idaho, explorer, miner and processor of silver and gold.

HEXION SPECIALTY CHEMICALS INC.: New senior secured credit facility; Credit Suisse and Deutsche Bank; help fund acquisition of Huntsman Corp.; Columbus, Ohio, thermoset resins company.

KAPSTONE PAPER AND PACKAGING CORP.: $585 million five-year senior secured credit facility; LaSalle Bank and Bank of America; $100 million revolver expected at Libor plus 125 bps to 275 bps based on leverage; $485 million term loan expected at Libor plus 125 bps to 275 bps based on leverage; help fund acquisition of MeadWestvaco Corp.'s North Charleston Kraft Division; Northbrook Ill., producer of kraft paper and converter of inflatable dunnage bags.

LOCAL TV LLC: New debt financing; Deutsche Bank, UBS, Bank of America and BNP Paribas; help fund Oak Hill Capital Partners' acquisition of eight television stations from News Corp.; portfolio to be jointly managed by Local TV; Covington, Ky., broadcast holding company.

MBF HEALTHCARE ACQUISITION CORP.: Up to $285 million credit facility; Jefferies; $25 million five-year revolver; $140 million to $155 million five-year first-lien term loan; $20 million one-year delayed-draw, with five-year final maturity, term loan; $40 million to $85 million six-year second-lien term loan, call protection 102, 101; help fund acquisition of Critical Homecare Solutions Holdings, Inc. from Kohlberg & Co. LLC; Coral Gables, Fla., blank check company formed for the purpose of acquiring businesses in the health care industry.

MOBILE MINI INC.: $1 billion five-year asset-based revolver expected at Libor plus 225 bps; Deutsche Bank, Bank of America and JPMorgan; help fund acquisition of Mobile Storage Group Inc. from Welsh, Carson, Anderson & Stowe; Tempe, Ariz., provider of portable storage.

PENN NATIONAL GAMING INC.: $7.1 billion in credit facilities; Wachovia and Deutsche Bank, with Wachovia left lead on senior secured, Deutsche left lead on unsecured; $4.6 billion senior secured seven-year term loan; $500 million senior secured 61/2-year revolver; $2 billion eight-year unsecured term loan; help fund buyout by Fortress Investment Group LLC and Centerbridge Partners LP; Wyomissing, Pa., owner and operator of casino and horse racing facilities.

PUGET ENERGY INC.: $2.425 billion senior secured credit facility; Barclays Capital and Dresdner Kleinwort; up to $1.425 billion in senior secured term loans; up to $1 billion senior secured capital expenditure facility; in connection with buyout by Macquarie Infrastructure Partners, the Canada Pension Plan Investment Board and British Columbia Investment Management Corp.; help fund capital expenditure program and working capital needs and support energy hedging activities; Bellevue, Wash., provider of electric and natural gas service.

TOUSA INC. $650 million 60-day DIP ($135 million if unable to solicit lenders) at Libor plus 525 bps, subject to a floor of 325 bps; Citigroup; help fund restructuring plan and pay normal operating expenses, and refinance first-lien debt; Hollywood, Fla., homebuilder.

TRIZETTO GROUP INC.: New credit facility; RBC Capital Markets; help fund buyout by Apax Partners; Newport Beach, Calif., developer, licenser and supporter of proprietary and third-party software products for the health care industry.

WASTE INDUSTRIES USA INC.: $455 million senior secured credit facility; Wachovia and HSBC; $310 million term loan; $75 million capital expansion facility; $70 million revolver; help fund buyout by management, Macquarie Infrastructure Partners and Goldman Sachs; Raleigh, N.C., non-hazardous solid waste services 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.