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Published on 3/3/2010 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $10.770 billion deals being marketed

MARCH BANK MEETINGS

EMERGENCY MEDICAL SERVICES CORP.: Bank meeting March 4; $550 million credit facility; Bank of America, Barclays and JPMorgan; $125 million revolver; $425 million term loan; refinance existing bank debt and call 10% senior subordinated notes; Greenwood Village, Colo., ambulance and facility-based physician services company.

HHI HOLDINGS LLC: New credit facility; Bank of America and Credit Suisse; term loan (B3/B+); $140 million ABL revolver; refinance existing debt and fund a dividend; Royal Oak, Mich., supplier of highly engineered metal forgings and machined components, wheel bearings, and powdered metal engine and transmission components.

INFORMATION SOLUTIONS: Bank meeting March 4; $350 million term loan talked at Libor plus 325 bps, 1.5% Libor floor, OID 99; JPMorgan; refinance existing bank debt and for general corporate purposes; information services businesses of Santa Ana, Calif.-based First American Corp.

SHEARER'S FOODS INC.: Bank meeting March 4; $139 million credit facility (Ba3); Jefferies and BMO; $20 million revolver talked at Libor plus 475 bps, 2% Libor floor, OID 98; $119 million term loan talked at Libor plus 475 bps, 2% Libor floor, OID 98; help fund the acquisition of Snack Alliance Inc.; Brewster, Ohio, producer and distributor of contract pack and private label seasoned snack foods.

SOLUTIA INC.: Bank meeting March 4; $1.05 billion senior secured credit facility (Ba2); Deutsche Bank, Jefferies, Citigroup, HSBC Securities and JPMorgan; $300 million revolver due 2015; $750 million term loan due 2017; refinance existing bank debt and help fund acquisition of Etimex Solar GmbH from Etimex Holding GmbH; St. Louis-based performance materials and specialty chemicals company.

UPCOMING CLOSINGS

ARDENT HEALTH SERVICES LLC: $475 million credit facility (B1/B); Bank of America, Barclays and GE Capital; $75 million five-year revolver talked at Libor plus 425 bps; $400 million six-year term loan talked at Libor plus 450 bps, 1.5% Libor floor, 101 soft call, OID 981/2; refinance existing debt and fund a dividend; Nashville, Tenn., operator of acute care hospitals and specialty care facilities.

ATI PHYSICAL THERAPY: $170 million credit facility; Barclays and GE Capital; $25 million revolver talked at Libor plus 500 bps, 2% Libor floor, OID 98; $145 million term loan talked at Libor plus 500 bps, 2% Libor floor, OID 98; help fund buyout by GTCR Golder Rauner LLC; Bolingbrook, Ill., rehabilitation provider.

BIOSCRIP INC.: $150 million five-year credit facility (Ba3/BB-); Jefferies; $50 million revolver at Libor plus 400 bps, 2% Libor floor, OID 98; $100 million term loan at Libor plus 400 bps, 2% Libor floor, OID 98; help fund acquisition of Critical Homecare Solutions; Elmsford, N.Y., specialty pharmaceutical health care organization.

CEDAR FAIR LP: $1.45 billion credit facility (Ba3/BB-); Bank of America, JPMorgan, Barclays, UBS and KeyBanc; $1.2 billion six-year term B at Libor plus 375 bps, 1.5% Libor floor, OID 991/2; $250 million five-year revolver at Libor plus 375 bps, 1.5% Libor floor; help fund buyout by Apollo Global Management; Sandusky, Ohio, amusement-resort operator.

DENBURY RESOURCES INC.: $1.6 billion four-year revolver; JPMorgan and Bank of America; help fund acquisition of Encore Acquisition Co.; Plano, Texas, exploration and production company.

FRESENIUS SE: Approximately $996 million U.S. and €165 million euro term loan C (BBB-) due September 2014 talked at Libor plus 300 bps, 1.75% Libor floor, 101 soft call; Deutsche Bank; refinance term loan B; Bad Homburg, Germany, provider of products and services for individuals undergoing dialysis.

INTERGRAPH CORP.: $300 million incremental term loan (B1/BB-) at Libor plus 400 bps, 2% Libor floor, OID 99, 101 soft call protection; JPMorgan and Goldman Sachs; fund a dividend; Huntsville, Ala., provider of spatial information management software and systems.

INTERNATIONAL LEASE FINANCE CORP.: $750 million senior secured term loan (Ba2/BBB/BBB-) talked at Libor plus 475 bps to 500 bps, 2% Libor floor, 101 soft call, OID 98; Bank of America and Goldman Sachs; repay some existing debt; Los Angeles-based leaser and remarketer of advanced technology commercial jet aircraft to airlines.

MUNDER CAPITAL MANAGEMENT: $85 million credit facility; Credit Suisse; $5 million revolver talked at Libor plus 400 bps, 2% Libor floor, OID 98; $80 million term loan talked at Libor plus 400 bps, 2% Libor floor, OID 98; refinance existing debt; Birmingham, Mich., provider of investment advice and asset management services.

NISKA GAS STORAGE PARTNERS LLC: $400 million revolver (Baa3); general corporate purposes; closing in conjunction with notes offering; Gridley, Calif., owner and operator of natural gas storage assets.

PACIFIC RUBIALES ENERGY CORP.: Expected close on or before March 31; $200 million two-year senior unsecured revolver; Bank of America; replace existing credit facilities and for general corporate purposes; Toronto-based producer of natural gas and heavy crude oil.

PRIME HEALTHCARE SERVICES INC.: $290 million credit facility; RBC; $40 million five-year revolver talked at Libor plus 400 bps, 2% Libor floor; $250 million six-year term loan talked at Libor plus 400 bps, 2% Libor floor; refinance existing debt, make certain investments and for general corporate purposes; Ontario, Calif., owner and operator of acute care hospitals.

PROVO CRAFT: $170 million credit facility (B1); Bank of America; $50 million revolver; $120 million term loan talked at Libor plus 550 bps, 2% Libor floor, OID 97 to 971/2; help fund buyout by BAML Capital Partners; Spanish Fork, Utah, manufacturer and distributor of craft, hobby, and education products.

REVLON CONSUMER PRODUCTS INC.: $940 million credit facility; Citigroup left lead; $140 million four-year asset-based revolver (Ba2) talked at Libor plus 300 bps, 75 bps commitment fee; $800 million seven-year term loan (Ba3) talked at Libor plus 400 bps, 2% Libor floor, OID 99; refinance existing credit facility; New York-based cosmetics, hair color, beauty tools, fragrances, skincare, anti-perspirants/deodorants and beauty care products company.

SAVERS INC.: $365 million senior secured credit facility (Ba3/B+); JPMorgan; $40 million revolver; $325 million term loan talked at Libor plus 375 bps, 2% Libor floor, OID 99; refinance existing bank and mezzanine debt; Bellevue, Wash., thrift store chain.

TALBOTS INC.: $200 million 31/2-year senior secured ABL revolver at Libor plus 450 bps, 100 bps unused fee; GE Capital; for ongoing working capital needs and, if needed, to help repay debt; Hingham, Mass., retailer and direct marketer of women's apparel, shoes and accessories.

ON THE HORIZON

AIRVANA INC.: $170 million seven-year non-amortizing senior secured loan priced at 14.75%; GSO Capital Partners lead lender, Wilmington Trust Co. agent; help fund by 72 Mobile Holdings LLC; Chelmsford, Mass., provider of mobile broadband network infrastructure products.

CHAPARRAL ENERGY INC.: $400 million senior secured reserve-based revolver; UBS, Credit Suisse and RBS; help repay existing credit facility and for general corporate purposes; Oklahoma City-based independent oil and natural gas production and exploitation company.

CKE RESTAURANTS INC.: $450 million senior secured credit facility; Bank of America and Barclays; $75 million revolver; $375 million term loan; help fund buyout by Thomas H. Lee Partners; Carpinteria, Calif., owner of Carl's Jr. and Hardee's quick-service restaurant chains.

CRESCENT RESOURCES LLC: $125 million to $150 million exit financing facility; fund repayment of DIP and working capital; Charlotte, N.C., land management and real estate development company.

FAIRPOINT COMMUNICATIONS INC.: $1 billion five-year secured term loan at Libor plus 450 bps, 2% Libor floor; exit financing; Charlotte, N.C., provider of communications services.

MSCI INC.: $1.375 billion senior secured credit facility; Morgan Stanley; $100 million five-year revolver expected at Libor plus 350 bps, 1.5% Libor floor, 75 bps unused fee; $1.275 billion six-year term B expected at Libor plus 350 bps, 1.5% Libor floor; help fund acquisition of RiskMetrics Group Inc., refinance existing bank debt and fund ongoing working capital needs; New York-based provider of investment decision support tools to investment institutions.

QUAD/GRAPHICS INC.: $1.2 billion credit facility; JPMorgan and U.S. Bank; $400 million revolver; $800 million term B; help fund acquisition of World Color Press Inc.; Sussex, Wis., printer of catalogs, magazines and other commercial products.

REDPRAIRIE HOLDING INC.: New debt financing; Credit Suisse; help fund buyout by New Mountain Capital LLC; Waukesha, Wis., productivity services provider.

RESACA EXPLOITATION INC.: $200 million revolver due July 1, 2012 with pricing ranging from Libor plus 250 bps to 325 bps based on utilization; Union Bank of North America; refinance credit facilities in connection with merger with Cano Petroleum Inc. and for general corporate purposes; Houston-based oil and gas company.

SIGMA-TAU GROUP: New term loan; help fund acquisition of Enzon Pharmaceuticals Inc.'s specialty pharmaceutical business; Rome-based pharmaceutical group.

SKILLSOFT PLC: $365 million senior secured credit facility; Morgan Stanley and Barclays; $40 million five-year revolver; $325 million six-year term loan; help fund buyout by Berkshire Partners LLC, Advent International Corp. and Bain Capital Partners LLC; Dublin, Ireland, provider of on-demand e-learning and performance support services.

SPECTRUM BRANDS INC.: $1.05 billion credit facility; Credit Suisse, Bank of America and Deutsche Bank; $300 million four-year ABL revolver; $750 million term loan due 2016; refinance debt in connection with merger with Russell Hobbs Inc.; Atlanta-based consumer products company.

W.R. GRACE & CO.: New exit facility including a $200 million revolver; Goldman Sachs and Deutsche Bank; Columbia, Md., specialty chemicals company.


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