E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 3/18/2010 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $15.784 billion deals being marketed

MARCH BANK MEETINGS

OZBURN-HESSEY HOLDING CO. LLC: Bank meeting March 19; $380 million credit facility (B); Bank of America; $35 million revolver; $345 million term B; refinance existing debt; Brentwood, Tenn., third-party logistics provider.

TPC GROUP LLC: Bank meeting March 25; $150 million four-year ABL revolver priced at Libor plus 350 bps; Deutsche Bank; refinance existing debt; expected close on April 13; Houston-based chemicals processor and service provider.

APRIL BANK MEETINGS

PHILLIPS-VAN HEUSEN CORP.: $2.45 billion senior secured credit facility; Barclays, Deutsche Bank, Bank of America, Credit Suisse and RBC; $450 million revolver; $500 million term A; $1.5 billion term B; help fund acquisition of Tommy Hilfiger BV from Apax Partners LP and refinance existing senior unsecured notes; New York-based apparel company.

UPCOMING CLOSINGS

AQUILEX HOLDINGS LLC: $235 million senior secured credit facility (BB-); Morgan Stanley and RBC; $50 million revolver talked at Libor plus 400 bps, 2% Libor floor, OID 99; $185 million term loan talked at Libor plus 400 bps, 2% Libor floor, OID 981/2; refinance existing credit facility; Atlanta-based provider of maintenance, repair and industrial cleaning services for the energy industry.

ASHLAND INC.: $800 million credit facility; Bank of America and Scotia; $500 million revolver; $300 million term A; refinance existing debt; Covington, Ky., provider of specialty chemical products and services.

AVETA INC.: $360 million credit facility; Bank of America, Citigroup and Jefferies; $60 million five-year revolver; $300 million five-year term B talked at Libor plus 575 bps to 600 bps, 2% Libor floor, OID 97, call protection of 102, 101; refinance existing debt and fund a dividend; Fort Lee, N.J., medical management company.

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.

CUSTOM BUILDING PRODUCTS INC.: $320 million credit facility; Bank of America and RBC; $25 million revolver at Libor plus 400 bps, 1.75% Libor floor, 75 bps unused fee; $295 million term B at Libor plus 400 bps, 1.75% Libor floor, OID 99; refinance existing debt; Seal Beach, Calif., provider of installation services for tile and stone.

DIAMOND FOODS INC.: $600 million five-year secured credit facility; Bank of America and Barclays; $200 million revolver at Libor plus 350 bps, 50 bps commitment fee; $400 million term A at Libor plus 350 bps; help fund the acquisition of Kettle Foods from Lion Capital LLP and to repay existing debt; San Francisco-based packaged foods company.

EMERGENCY MEDICAL SERVICES CORP.: $550 million credit facility (Baa3/BB+); Bank of America, Barclays and JPMorgan; $125 million revolver talked at Libor plus 300 bps, 50 bps unused fee; $425 million term loan talked at Libor plus 300 bps; refinance existing bank debt and call 10% senior subordinated notes; Greenwood Village, Colo., ambulance and facility-based physician services company.

HHI HOLDINGS LLC: $340 million credit facility; Bank of America and Credit Suisse; $200 million term B (B3/B+) talked at Libor plus 750 bps, 2.5% to 3% Libor floor, OID 97; $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 CO.: $350 million term loan (Ba2/BB+) 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.

LYONDELL CHEMICAL CO.: $2.75 billion credit facility; $1 billion six-year senior secured term B (Ba3) talked at Libor plus 425 bps area, 2% Libor floor, OID to be determined.; $1.75 billion ABL revolver talked at Libor plus 375 bps, 2% Libor floor; UBS, Bank of America, Barclays, Citigroup, Credit Suisse, Deutsche Bank, JPMorgan, Morgan Stanley and Wells Fargo leading term B, Citi left lead on revolver; repay and replace existing debt upon bankruptcy exit; Netherlands-based polymer, petrochemicals and fuels company.

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.

N.E.W. CUSTOMER SERVICE COS. INC.: $1.02 billion credit facility; Bank of America, Barclays and Deutsche Bank; $20 million five-year revolver; $700 million six-year first-lien term loan at Libor plus 425 bps, 1.75% Libor floor, OID 99; $300 million seven-year unsecured term loan at Libor plus 750 bps, 2% Libor floor, OID 98 non-call three, then 103, 101; dividend recapitalization; Sterling, Va., provider of extended service plans and product protection programs for consumer products.

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.

PRESTIGE BRANDS INC.: $180 million senior secured credit facility (Ba2/BB); Bank of America and Deutsche Bank; $150 million term B at Libor plus 325 bps, 1.5% Libor floor, OID 99; $30 million revolver; refinance existing debt; Irvington, N.Y., marketer of over-the-counter healthcare products, household cleaning products, and personal care products.

PRIME HEALTHCARE SERVICES INC.: $290 million credit facility (B1); RBC; $40 million four-year revolver talked at Libor plus 400 bps, 2% Libor floor; $50 million four-year term A talked at Libor plus 425 bps, 2% Libor floor, OID 981/2; $200 million five-year term B talked at Libor plus 525 bps, 2% Libor floor, OID 971/2; 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/B+); Bank of America; $40 million revolver; $130 million term loan at Libor plus 600 bps, 2% Libor floor, OID 97, call protection 102, 101; help fund buyout by BAML Capital Partners; Spanish Fork, Utah, manufacturer and distributor of craft, hobby, and education products.

QUAD/GRAPHICS INC.: $1.2 billion credit facility (Ba2/BB+); JPMorgan and U.S. Bank; $400 million four-year revolver talked at Libor plus 350 bps, 1.5% Libor floor; $800 million six-year term B talked at Libor plus 350 bps, 1.5% Libor floor, OID 99; help fund acquisition of World Color Press Inc.; Sussex, Wis., printer of catalogs, magazines and other commercial products.

RADNET INC.: $375 million credit facility (Ba3/B+); Barclays Capital, GE Capital, Deutsche Bank, RBC and Jefferies; $275 million six-year term loan talked at Libor plus 375 bps to 400 bps, 2% Libor floor, OID 99 area; $100 million five-year revolver talked at Libor plus 375 bps, 2% Libor floor, upfront fee 98; refinance existing debt; Los Angeles-based provider of diagnostic imaging services.

REDPRAIRIE HOLDING INC.: $270 million credit facility (B2/B+); Credit Suisse and RBC; $30 million revolver; $240 million term loan talked at Libor plus 400 bps, 2% Libor floor, OID 99; help fund buyout by New Mountain Capital LLC; Waukesha, Wis., productivity services provider.

RE/MAX INTERNATIONAL INC.: $225 million credit facility; JPMorgan; $10 million revolver; $215 million term B talked at Libor plus 400 bps, 1.75% Libor floor, OID 99; refinance existing debt and fund a dividend payment; Denver-based real estate company.

SHEARER'S FOODS INC.: $139 million credit facility (Ba3/B); 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.

SKILLED HEALTHCARE GROUP INC.: $430 million credit facility; Credit Suisse, Barclays, JPMorgan and Bank of America; $100 million revolver; $330 million term loan talked at Libor plus 350 bps to 375 bps, 1.75% Libor floor, OID 99; refinance existing senior secured credit facility; Foothill Ranch, Calif., health care services company.

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.

WYLE SERVICES CORP.: $115 million credit facility (Ba2/BB); Barclays and JPMorgan; $25 million revolver talked at Libor plus 425 bps, 2% Libor floor; $90 million term loan talked at Libor plus 425 bps, 2% Libor floor, OID 98½ area; refinance existing debt; engineering firm specializing in high-tech testing, life sciences and technical-support services to federal government agencies.

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.

CF INDUSTRIES HOLDINGS INC.: $2.3 billion credit facility; Morgan Stanley and the Bank of Tokyo-Mitsubishi UFJ; up to $2 billion five-year term B at Libor plus 350 bps, 75 bps ticking fee, 2% Libor floor, OID 981/2; $300 million five-year revolver at Libor plus 350 bps, 75 bps commitment fee, 2% Libor floor, OID 981/2; help fund acquisition of Terra Industries Inc.; Deerfield, Ill., producer and distributor of nitrogen and phosphate fertilizer 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: $150 million exit financing facility; RBS; 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.

INFOGROUP INC.: New senior secured credit facility; Bank of America; $315 million term loan; help fund buyout by CCMP Capital Advisors LLC; Omaha, Neb., provider of data-driven and interactive resources for targeted sales, marketing and research 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.

RCN CORP.: $885 million in credit facilities; SunTrust, GE Capital and Société Générale; $620 million facility for cable business, consisting of $40 million five-year revolver and $580 million six-year term loan; $265 million facility for fiber business, consisting of $25 million five-year revolver and $240 million six-year term loan; help fund buyout by ABRY Partners; Herndon, Va., broadband 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 usage; 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.

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.

WILLBROS GROUP INC.: $475 million credit facility; Crédit Agricole Corporate and Investment Bank and UBS; $175 million three-year revolver; $300 million four-year term loan; help fund acquisition of InfrastruX Group Inc.; Houston-based independent contractor serving the oil, gas, power, refining and petrochemical industries.

W.R. GRACE & CO.: $1 billion exit facility, including a $200 million revolver; Goldman Sachs and Deutsche Bank; Columbia, Md., specialty chemicals 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.