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Published on 3/25/2010 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $17.2465 billion deals being marketed

MARCH BANK MEETINGS

CHRISTIE/AIX INC.: Bank meeting March 31; $172.5 million six-year senior secured term loan; SG and GE Capital; refinance existing debt; wholly owned subsidiary of Cinedigm Digital Cinema Corp., a Morristown, N.J.-based provider of digital cinema platforms.

MULTI PACKAGING SOLUTIONS INC.: Bank meeting March 26; $245 million credit facility; Wells Fargo; $25 million revolver; $220 million term loan talked at Libor plus 425 bps, 1.75% Libor floor, OID 98½ to 99; dividend recapitalization; New York-based entertainment packaging company.

OPEN MOBILE: Bank meeting March 29; $175 million senior secured credit facility; SunTrust and Morgan Stanley; $160 million six-year term loan talked at Libor plus 400 bps to 425 bps range, 2% Libor floor, OID 98½ to 99; $15 million four-year revolver; provider of pre-paid wireless service in Puerto Rico.

APRIL BANK MEETINGS

PHILLIPS-VAN HEUSEN CORP.: Bank meeting expected mid-April; $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.

TRIUMPH GROUP INC.: Possible late April/early May business; new term loan; RBC; help fund acquisition of Vought Aircraft Industries Inc.; Wayne, Pa.-based designer, engineer, manufacturer and repairer of aircraft components and accessories.

WILLBROS GROUP INC.: Bank meeting expected early April; $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.

UPCOMING CLOSINGS

AFFINION GROUP INC.: $1 billion credit facility; Bank of America and Credit Suisse; $125 million five-year revolver talked at Libor plus 350 bps; $875 million 61/2-year term B talked at Libor plus 350 bps, 1.5% to 1.75% Libor floor, OID 98½ to 99; refinance existing debt and for general corporate purposes, including acquisitions; Norwalk, Conn., provider of marketing services and loyalty programs.

AQUILEX HOLDINGS LLC: $235 million senior secured credit facility (BB-); Morgan Stanley and RBC; $50 million revolver talked at Libor plus 400 bps; $185 million term loan at Libor plus 400 bps, 1.5% Libor floor, OID 99; 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.

BASS PRO SHOPS: $700 million credit facility; JPMorgan; $300 million ABL revolver; $400 million term loan (B1/BB-) talked at Libor plus 375 bps, 1.5% Libor floor, OID 99 area; refinance existing debt; Springfield, Mo., outdoor retailer.

BUFFETS HOLDINGS INC.: $250 million five-year first-lien term loan (B-) talked at Libor plus 800 bps cash plus 200 bps PIK, 2% Libor floor, OID 97, call protection 102, 101; Credit Suisse; refinance exit facility; Eagan, Minn., steak-buffet restaurant company.

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.

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, 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.

HOFFMASTER GROUP INC.: $280 million credit facility; Credit Suisse; $30 million revolver; $160 million first-lien term loan talked at Libor plus 425 bps, 2% Libor floor, OID 981/2; $90 million second-lien term loan talked at Libor plus 825 bps, 2% Libor floor, OID 98, call protection 103, 102, 101; fund a dividend and to refinance existing debt; Oshkosh, Wis., manufacturer of premium disposable tableware products.

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.: $2.25 billion credit facility; $500 billion six-year senior secured term B (Ba3) at Libor plus 400 bps, 1.5% Libor floor, OID 99; $1.75 billion ABL revolver; 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.

OZBURN-HESSEY HOLDING CO. LLC: $385 million credit facility; Bank of America; $35 million revolver (Ba3/B) talked at Libor plus 525 bps; $275 million first-lien term loan (Ba3/B) talked at Libor plus 550 bps, 2% Libor floor, OID 98, 101 soft call; $75 million second-lien term loan (B3/CCC+) talked at Libor plus 850 bps, 2% Libor floor, OID 97, call protection 103, 102, 101; refinance existing debt; Brentwood, Tenn., third-party logistics provider.

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 (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.

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.

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 at Libor plus 475 bps, 2% Libor floor, OID 98; $119 million term loan 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.

SHERIDAN PRODUCTION PARTNERS: $700 million in seven-year term loans talked at Libor plus 450 bps, 2% Libor floor, OID 98 to 99 area; UBS and JPMorgan; refinance existing revolver; Houston-based oil and gas production company.

SKILLED HEALTHCARE GROUP INC.: $430 million credit facility (Ba3/BB-); 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.

SQUARE TWO FINANCIAL: $150 million revolver; refinance debt and general corporate purposes; Denver-based asset recovery and management 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.

TPC GROUP LLC: $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.

WYLE SERVICES CORP.: Expected close March 22 week; $120 million credit facility (Ba2/BB); Barclays and JPMorgan; $25 million revolver at Libor plus 400 bps, 2% Libor floor; $95 million term loan at Libor plus 400 bps, 2% Libor floor, OID 99; 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, 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.: $450 million senior revolver; in connection with acquisition by CCMP Capital Advisors LLC; 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.

INTERSIL CORP.: $390 million debt commitment; Morgan Stanley; help fund acquisition of Techwell Inc.; Milpitas, Calif., designer and manufacturer of high-performance analog and mixed signal semiconductors.

MSCI INC.: $1.375 billion senior secured credit facility (Ba2/BB+); 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.

STYRON: New credit facility; Deutsche Bank involved; help fund acquisition by Bain Capital from Dow Chemical; diversified chemicals and plastics company.

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


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