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Published on 4/25/2008 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $17.0445 billion deals being marketed

APRIL BANK MEETINGS

BRIGHT HORIZONS FAMILY SOLUTIONS INC.: Bank meeting April 29; $440 million senior secured credit facility (Ba3); 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.

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.

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 at Libor plus 475 bps, OID 98; $137 million term loan at Libor plus 475 bps, OID 98; 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.

EB BRANDS: $82 million credit facility; GE Capital and National City, with GE left lead; $30 million revolver talked at Libor plus 450 bps, OID 981/2; $52 million term loan talked at Libor plus 450 bps, OID 981/2; help fund acquisition by Cortec; Yonkers, N.Y., designer and marketer of accessories designed for the fitness, gift and travel markets.

FAIRCHILD SEMICONDUCTOR: $100 million term loan add-on talked at Libor plus 250 bps, OID 99; Bank of America and JPMorgan; help take out convertible securities; South Portland, Maine, semiconductor company.

GAVILON LLC: $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.

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.

KAPSTONE PAPER AND PACKAGING CORP.: $585 million five-year senior secured credit facility; LaSalle Bank; $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.

KINETIC CONCEPTS INC.: $1.3 billion senior secured credit facility (Ba1/BBB-); Bank of America and JPMorgan; $300 five-year million revolver talked at Libor plus 325 bps, 3.25% Libor floor; $800 million five-year term A talked at Libor plus 325 bps, 3.25% Libor floor; $200 million six-year term B talked at Libor plus 325 bps, 3.25% Libor floor, OID 98; help fund acquisition of LifeCell Corp.; San Antonio-based medical technology company.

MACROVISION CORP.: $550 million five-year term B (Ba2/BB-) at Libor plus 375 bps, 3.5% Libor floor, OID 971/2, 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 (B); Wachovia, Goldman Sachs and UBS; $75 million revolver; $515 million term loan talked at Libor plus 500 bps, 3% Libor floor, OID 90 to 91 area; help fund Providence Equity Partners Inc.'s completed acquisition of Clear Channel Communications Inc.'s television group.

PITG GAMING: $630 million credit facility; Credit Suisse; $10 million revolver (B) talked at Libor plus 600 bps, 3.25% Libor floor; $370 million first-lien term loan (B) talked at Libor plus 600 bps, 3.25% Libor floor, OID 96, non-callable for 18 months, then 102, 101; $250 million second-lien term loan (CCC) talked at Libor plus 1,300 bps (1,000 bps cash, 300 bps PIK), 3.25% Libor floor, OID 96, non-callable for two years, then 106, 104, 102; help fund the Majestic Star Casino LLC's Pittsburgh casino.

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.

SPEEDY CASH: $75.5 million credit facility; Jefferies; $10 million revolver; $65.5 million term loan; help fund a minority sponsor investment by Friedman Fleischer & Lowe; Wichita, Kan., retailer of alternative financial services.

TOPAZ POWER HOLDINGS LLC: $740 million senior secured credit facility (Ba3/BB-); Morgan Stanley, Dexia, ING and Natixis; $615 million construction term loan talked at Libor plus 325 bps; $75 million revolver talked at Libor plus 300 bps; $50 million construction letter-of-credit talked at Libor plus 300 bps; help fund liquidity needs and the cost of building two simple-cycle gas turbine plants, and converting two other plants into combined-cycle gas turbine units; Austin, Texas, power producer.

TYR ENERGY: $96 million credit facility; GE Capital; $89 million seven-year term loan talked at Libor plus 225 bps, 100 bps upfront fee; $7 million debt service reserve letter-of-credit talked at Libor plus 225 bps, 100 bps upfront fee; help fund acquisition of a power plant; Overland Park, Kan., owner of equity interests in power assets and provider of asset management services to those facilities.

VENTURE TRANSPORT LOGISTICS LLC: $190 million senior credit facility; GE Capital and CIT; $50 million revolver at Libor plus 500 bps, 3.25% Libor floor, OID 98; $140 million term B at Libor plus 500 bps, 3.25% Libor floor, OID 98; help fund acquisition of Ace Transport Inc. 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.

VOPAK TERMINAL BAHAMAS LTD.: $417 million senior secured credit facility; ABN Amro and DnB NOR Bank, with ABN left lead; $85 million eight-year working capital revolver talked at Libor plus 200 bps for years one through five, Libor plus 225 bps for years six through eight, 50 bps unused fee; $325 million eight-year term loan talked at Libor plus 200 bps for years one through five, Libor plus 225 bps for years six through eight; $7 million revolving debt service reserve facility (not being syndicated); help fund formation of the joint venture by First Reserve Corp. and Vopak through the acquisition of Bahamas Oil Refining Co. from Petróleos de Venezuela; Freeport, Bahamas, oil storage terminal.

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.

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.

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.

CCC-MITCHELL INC.: New credit facility; Goldman Sachs involved; refinance existing debt in connection with merger of CCC Information Services Inc. and Mitchell International Inc.; provider of information, workflow management systems and integrated software to insurance companies and collision repair facilities.

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.

GREY WOLF INC.: $925 million senior secured credit facility; UBS and Goldman Sachs, with UBS left lead; $600 million term B; $325 million revolver; help fund merger with Basic Energy Services Inc.; Houston-based provider of contract land drilling services and well servicing rig contractor.

HANCOCK FABRICS INC.: $100 million five-year 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.

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.

LEARNING CARE GROUP: $215 million credit facility; Barclays Capital; $40 million revolver; $175 million term loan; help fund Morgan Stanley Private Equity's purchase of a 60% interest in the company from A.B.C. Learning Centres; Novi, Mich., provider of early education and care services.

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.

MANITOWOC CO. INC.: $2.4 billion credit facility; JPMorgan, Deutsche Bank, Morgan Stanley and BNP Paribas; $400 million five-year revolver expected at Libor plus 300 bps, 50 bps commitment fee; $900 million five-year term A expected at Libor plus 300 bps; $300 million 18-month term X expected at Libor plus 300 bps; $800 million six-year term Y expected at Libor plus 300 bps; fund acquisition of Enodis plc, refinance existing debt and provide ongoing working capital; Manitowoc, Wis., provider of lifting equipment for the construction industry, manufacturer of cold-side equipment for the foodservice industry, and provider of shipbuilding, ship repair and conversion services.

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.


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