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Published on 7/13/2009 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $3.3125 billion deals being marketed

JULY

NUVEEN INVESTMENTS INC.: Expected pricing July 15 and close July 20; $500 million six-year second-lien term loan (Caa2) with indicative coupon of 12.5% fixed-rate, OID 90, non-callable for two years, then 106, 103; Deutsche Bank, Bank of America, Wells Fargo and Morgan Stanley; repay 5% senior notes due in September 2010 and some first-lien term loan; Chicago-based seller of investment products.

UPCOMING CLOSINGS

CHESTER DOWNS AND MARINA LLC: $230 million seven-year term loan (B3/B); Citigroup, Bank of America, JPMorgan and Jefferies, with Citi left lead; refinance existing debt and purchase partnership interests; operator of a racetrack casino in Chester, Pa.

EARTHBOUND FARM: $135 million senior credit facility; RBC; $25 million revolver talked at Libor plus 550 bps, 3% Libor floor; $110 million term loan talked at Libor plus 550 bps, 3% Libor floor; help fund buyout by HM Capital; San Juan Bautista, Calif., organic produce company.

FRESH DEL MONTE PRODUCE INC.: Expected close July 13 week; $500 million 31/2-year revolver at Libor plus 300 bps, 62.5 bps unused fee; Rabobank; refinance existing bank debt; Cayman Islands-based producer, transporter, marketer and distributor of fresh and fresh-cut fruit and vegetables.

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 buyout by ABRY Partners; San Marcos, Texas, provider of high-speed internet, local and long-distance telephone and digital cable services.

NEIMAN MARCUS INC.: $500 million asset-based revolver talked at Libor plus 425 bps, unused fee can range from 75 bps to 100 bps based on availability; Bank of America and Wells Fargo; refinance existing asset-based revolver; Dallas-based high-end specialty retailer.

PRIMARY ENERGY RECYCLING CORP.: $152.5 million senior secured term loan (BB) talked at Libor plus 850 bps, 2.5% Libor floor, OID 97; Credit Suisse; repay $135 million term loan due on Aug. 24; Oak Brook, Ill., owner and operator of recycled energy projects and a pulverized coal facility.

QUEBECOR WORLD INC.: $800 million three-year exit facility; Credit Suisse (left on term loan), GE Capital (left on revolver) and Wachovia; $350 million revolver (B1) at Libor plus 450 bps, unused fee range from 75 bps to 100 bps, 3% Libor floor; $450 million term loan (B1) at Libor plus 600 bps, 3% Libor floor, OID 90; Montreal-based printing and marketing company.

SPECTRUM BRANDS INC.: $242 million three-year senior secured asset-based revolving exit facility; GE Capital; $197 million revolver at Libor plus 400 bps, 2.5% Libor floor; $45 million first-in, last-out supplemental revolver at and Libor plus 1,450 bps, 3% Libor floor; Atlanta-based consumer products company and supplier of batteries, lawn and garden products, pet supplies, shaving and grooming products, household insect control products, personal care products and portable lighting.

TERRA-GEN POWER LLC: $275 million credit facility (Ba3); Citigroup; $250 million term loan talked at Libor plus 550 bps area, 2.5% Libor floor, OID 96 to 98 context; $25 million working capital revolver; refinance existing debt; New York-based renewable energy company.

ON THE HORIZON

ABRAXAS PETROLEUM CORP.: $300 million senior secured revolver expected at Libor plus 250 bps to 350 bps; Société Générale; 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.

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.

MSC.SOFTWARE CORP.: New senior debt financing; Wells Fargo Foothill and CapitalSource; help fund buyout by Symphony Technology Group; Santa Ana, Calif., developer, marketer and supporter of simulation software and related services.

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.

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


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