Bank Loan Calendar: $6.963 billion deals being marketed

UPCOMING CLOSINGS

CAPMARK FINANCIAL GROUP INC.: Expected close by May 21; $1.5 billion term loan due March 23, 2011; refinance a portion of bridge loan and senior credit facility; Horsham, Pa., provider of financial services to investors in commercial real estate assets.

DISCOVERY COMMUNICATIONS HOLDING LLC: Expected close May 11 week; $500 million term C due May 2014 (Baa3) at Libor plus 325 bps, 2% Libor floor, OID 98; Bank of America and JPMorgan, with Bank of America left lead; general corporate purposes; Silver Spring, Md., nonfiction media company.

GRANDE COMMUNICATIONS: $128 million credit facility; Societe Generale and SunTrust; $25 million five-year revolver at Libor plus 675 bps, 3% Libor floor, OID 97; $103 million six-year term loan at Libor plus 675 bps, 3% Libor floor, OID 97; help fund potential buyout by ABRY Partners; San Marcos, Texas, provider of high-speed internet, local and long-distance telephone and digital cable services.

NALCO HOLDING CO.: $750 million seven-year term B at Libor plus 350 bps, 3% Libor floor, OID 971/2; Deutsche Bank, Bank of America, HSBC and BMO; refinance existing debt; Naperville, Ill., provider of water treatment and process improvement products and services.

PHARMANET DEVELOPMENT GROUP INC.: Expected close May 18 week; $85 million five-year credit facility; Jefferies and CIT; $20 million revolver at Libor plus 700 bps, 3% Libor floor, OID 94; $65 million term A at Libor plus 700 bps, 3% Libor floor, OID 94; refinance convertibles; Princeton, N.J., drug-development services company.

SEARS HOLDINGS CORP.: Up to $4 billion ABL revolver talked at Libor plus 400 bps, 100 bps undrawn fee; Bank of America and Wells Fargo; extend as much of $4 billion revolver due March 2010 to January 2012; Hoffman Estates, Ill., retailer.

ON THE HORIZON

AMERICAN CAMPUS COMMUNITIES INC.: $200 million three-year senior secured revolver; KeyBank; replace existing revolver; Austin, Texas, real estate investment trust focused on student housing properties.

BLUE SPARKLE LP: $1.7 billion credit facility; Barclays; $850 million six-year senior secured term loan at Libor plus 400 bps, $850 million seven-year senior unsecured term loan at Libor plus 550 bps; help fund acquisition of Barclays' iShares business by CVC Capital Partners Group Sicav-FIS SA.

IOWA TELECOMMUNICATIONS SERVICES INC.: $75 million term loan due November 2011 at Libor plus 200 bps; Rural Telephone Finance Cooperative; help fund the acquisition of Sherburne Tele Systems Inc.; Newton, Iowa, telecommunications service provider.

SEALY CORP.: $100 million asset-based revolver due in 2013; refinance existing credit facility; Trinity, N.C., bedding manufacturer.

TRIDENT RESOURCES CORP.: New revolver; in connection with common stock IPO to repay existing debt; Calgary, Alta., natural gas production 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.