Bank Loan Calendar: $8.435 billion deals being marketed

UPCOMING CLOSINGS

ALLEN SYSTEMS GROUP INC.: $355 million credit facility; Bank of America; $20 million three-year revolver (B1/BB-); $235 million four-year term B (B1/BB-) talked at Libor plus 550 bps, 3% Libor floor; $100 million 41/2-year second-lien term loan (Caa1/B+) talked at Libor plus 800 bps plus 200 bps PIK, 3% Libor floor; refinance existing debt; Naples, Fla., enterprise software provider.

HARRAH'S OPERATING CO. INC.: $1 billion incremental term loan (Caa1/B-) due October 2016 at Libor plus 750 bps, 2% Libor floor, OID 971/2, non-callable for two years, 105, 103; Bank of America, Citigroup, JPMorgan, Credit Suisse and Deutsche Bank; refinance existing debt and for general corporate purposes; Las Vegas-based provider of branded casino entertainment.

PIERRE FOODS INC.: $190 million credit facility; $160 million five-year term loan (B2/BB-) at Libor plus 600 bps, 2.5% Libor floor, OID 97 led by Deutsche Bank; $30 million revolver led by Wells Fargo Foothill; refinance loans that the company's owner, Oaktree Capital Management LP, has in place; Cincinnati, Ohio, producer of fully cooked beef, pork, chicken, turkey, peanut butter and bakery products.

PILGRIM'S PRIDE CORP.: $1.75 billion exit facility; CoBank, Rabobank and Bank of Montreal; $600 million three-year revolver at Libor plus 450 bps; $375 million three-year term A at Libor plus 500 bps; $775 million five-year term B at Libor plus 500 bps; Pittsburg, Texas, poultry processor.

SEMGROUP LP: $500 million exit facility; BNP Paribas, Bank of America and Calyon; $400 million revolver talked at Libor plus 600 bps, 1.5% Libor floor; $100 million pre-funded letter-of-credit facility talked at Libor plus 600 bps, 1.5% Libor floor; provide working capital; Tulsa, Okla., provider of midstream services.

SPRINGBOARD FINANCE LLC (SKYPE TECHNOLOGIES): $630 million credit facility (B1/B); JPMorgan, Barclays and RBC; $600 million five-year term loan talked at Libor plus 600 bps, 2% Libor floor, OID 97; $30 million four-year revolver; help fund $2.75 billion buyout of Skype Technologies SA by an investor group led by Silver Lake from eBay Inc.; Luxembourg-based developer and operator of VoIP computer telephone services.

TERRA-GEN POWER LLC: Expected close Oct. 19 week; $225 million credit facility; BNP Paribas and Citigroup; $200 million 21/2-year term loan talked at Libor plus 500 bps, 3% Libor floor, upfront fee ranging from 225 bps to 300 bps based on commitment size; $25 million working capital revolver talked at Libor plus 500 bps, 3% Libor floor; refinance existing debt; New York-based renewable energy company.

U-STORE-IT TRUST: $450 million three-year credit facility; Wells Fargo and Bank of America Merrill Lynch; $250 million revolver with pricing ranging from Libor plus 325 bps to 400 bps based on leverage, 1.5% Libor floor; $200 million term loan with pricing ranging from Libor plus 325 bps to 400 bps based on leverage, 1.5% Libor floor; replace existing facility; Wayne, Pa., self-storage real estate investment trust.

VULCAN ENERGY CORP. $285 million credit facility; Bank of America; $5 million three-year revolver; $280 million six-year term loan (Ba2/BB) at Libor plus 325 bps, 2.5% Libor floor, OID 991/2; refinance existing bank debt; Houston-based midstream energy holding company.

WARNER CHILCOTT PLC: Up to $2.75 billion credit facility (Ba3/BB+); Bank of America, Credit Suisse, Barclays, Citigroup, JPMorgan and Morgan Stanley; $250 million five-year revolver talked at Libor plus 350 bps, 2.5% Libor floor; $1 billion five-year term A talked at Libor plus 350 bps, 2.5% Libor floor, OID 98 to 99; $1.5 billion 51/2-year term B talked at Libor plus 375 bps, 2.5% Libor floor, OID 98 to 99; help fund acquisition of Procter & Gamble Co.'s pharmaceuticals business and refinance existing debt; Rockaway, N.J., specialty pharmaceutical company.

WYNNEWOOD REFINING CO.: $300 million credit facility; Deutsche Bank; $150 million term loan (B2/BB-) talked at Libor plus 650 bps to 700 bps, OID 90, 3% Libor floor; $150 million asset-based revolver; refinance debt and for general corporate purposes; Wynnewood, Okla., company that's a wholly owned subsidiary of Gary-Williams Energy Corp.

ON THE HORIZON

ABRAXAS PETROLEUM CORP.: $310 million credit facility; Société Générale; $300 million revolver expected at Libor plus 250 bps to 375 bps based on use, 2% Libor floor; $10 million term loan due Dec. 31, 2010 expected at Libor plus 575 bps, 2% Libor floor; repay existing bank debt in connection with its merger with Abraxas Energy Partners LP; San Antonio, Texas, crude oil and natural gas exploration and production company.

ALLEN-VANGUARD CORP.: New revolving and documentary credit facilities; in connection with buyout by Versa Capital Management Inc.; Ottawa, Can., provider of proprietary services for protection and counter-measures against hazardous devices of all kinds.

CHICAGO BASEBALL HOLDINGS LLC: $175 million credit facility; help fund Ricketts family's purchase of Chicago Cubs Major League Baseball franchise and Wrigley Field from Tribune Co.

DAYTON SUPERIOR CORP.: $110 million exit facility; Bank of America, UBS and KeyBank; refinance DIP, issue standby or commercial letters-of-credit, make plan payments and for working capital and general corporate purposes; Dayton, Ohio, provider of specialized products consumed in nonresidential concrete construction and concrete forming.

GENTEK INC.: $330 million senior secured credit facility; Goldman Sachs; $300 million five-year term B at Libor plus 475 bps, 2.5% Libor floor; $30 million four-year revolver at Libor plus 450 bps, 75 bps undrawn fee, 2.5% Libor floor; help fund buyout by American Securities LLC; Parsippany, N.J., provider of specialty inorganic chemical products and valve actuation systems and components for automotive and heavy duty/commercial engines.

GEO GROUP: New revolver; refinance and expand existing revolver; Boca Raton, Fla., provider of correctional, detention and residential treatment services.

NEBRASKA BOOK CO. INC.: $75 million asset-based revolver; replace existing revolver; Lincoln, Neb., provider of new and used textbooks.

NEWGASCO: New credit facility; help create new company from merger of Quest Resource Corp., Quest Energy Partners LP and Quest Midstream Partners LP; Oklahoma City-based energy company.

RESACA EXPLOITATION INC.: New first- and second-lien credit facility; Union Bank of California expected to be involved; refinance credit facilities in connection with merger with Cano Petroleum Inc.; Houston-based oil and gas company.

VIASAT INC.: Expand revolver with JPMorgan, Bank of America, Wells Fargo and Union Bank; get new debt, help fund acquisition of WildBlue Communications Inc.; Carlsbad, Calif., producer of satellite and other wireless communication systems.

© 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.