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Published on 4/7/2010 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $24.2375 billion deals being marketed

APRIL BANK MEETINGS

AMERICAN GENERAL FINANCE CORP.: Bank meeting April 8; $2 billion senior secured term loan due 2015; Bank of America; repay existing debt and fund lending activities; Evansville, Ind., consumer finance unit of American International Group.

PHILLIPS-VAN HEUSEN CORP.: Bank meeting in N.Y. on April 14, London on April 16; $2.45 billion senior secured credit facility (BBB); 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; $300 million 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 April 9; $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.

MAY BANK MEETINGS

RCN CORP.: Bank meeting expected early May; $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.

UPCOMING CLOSINGS

24 HOUR FITNESS WORLDWIDE INC.: $675 million credit facility; JPMorgan; $75 million five-year revolver; $600 million six-year term B talked at Libor plus 400 bps, 2% Libor floor, OID 981/2; refinance existing debt; San Ramon, Calif., fitness center company.

ADVANTAGE SALES & MARKETING: $975 million credit facility; Credit Suisse, Bank of America and UBS; $625 million first-lien term loan talked at Libor plus 375 bps, 2% Libor floor, OID 99; $275 million second-lien term loan talked at Libor plus 750 bps, 2% Libor floor, OID 981/2, call protection 103, 102, 101; $75 million revolver talked at Libor plus 375 bps, 2% Libor floor, OID 98; refinance debt and fund a dividend; Irvine, Calif., consumer packaged goods sales and marketing agency.

AFFINION GROUP INC.: $1 billion credit facility (Ba2); Bank of America and Credit Suisse; $125 million five-year revolver at Libor plus 350 bps; $875 million 61/2-year term B at Libor plus 350 bps, 1.5% Libor floor, OID 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.

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 (B3/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.

CF INDUSTRIES HOLDINGS INC.: $2.3 billion credit facility (Ba1/BBB); Morgan Stanley and the Bank of Tokyo-Mitsubishi UFJ; $2 billion five-year term B talked at Libor plus 350 bps, step-down to Libor plus 300 bps upon the issuance of at least $750 million of equity to repay debt, 1.5% Libor floor, OID 991/2; $300 million five-year revolver talked at Libor plus 350 bps, step-down to Libor plus 300 bps upon the issuance of at least $750 million of equity to repay debt, 1.5% Libor floor; help fund acquisition of Terra Industries Inc.; Deerfield, Ill., producer and distributor of nitrogen and phosphate fertilizer products.

CHRISTIE/AIX INC.: $172.5 million six-year senior secured term loan talked at Libor plus 350 bps, 1.75% Libor floor, OID 99; 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.

EMERGENCY MEDICAL SERVICES CORP.: $575 million credit facility (Baa3/BB+); Bank of America, Barclays and JPMorgan; $150 million revolver at Libor plus 300 bps, step-down to Libor plus 275 bps at less than 1.2x leverage, 50 bps unused fee; $425 million term loan at Libor plus 300 bps, step down to Libor plus 275 bps at less than 1.2x leverage, OID 991/2; refinance existing bank debt and call 10% senior subordinated notes; Greenwood Village, Colo., ambulance and facility-based physician services company.

HARVARD DRUG GROUP LLC: $202 million senior secured credit facility (B+); Credit Suisse and UBS; $160 million six-year term loan talked at Libor plus 450 bps, 2% Libor floor, OID 98; $22 million six-year delayed draw term loan talked at Libor plus 450 bps, 2% Libor floor, OID 98; $20 million five-year revolver; help fund buyout by Court Square Capital; Livonia, Mich., independent pharmaceutical distributor.

HOFFMASTER GROUP INC.: $280 million credit facility; Credit Suisse; $30 million revolver (B1/B+); $160 million first-lien term loan (B1/B+) talked at Libor plus 425 bps, 2% Libor floor, OID 981/2; $90 million second-lien term loan (Caa1/CCC+) 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.

INTEGRA TELECOM HOLDINGS INC.: $270 million senior secured credit facility; JPMorgan, Deutsche Bank, Goldman Sachs, Jefferies and Morgan Stanley; $210 million term loan (B2/CCC+); $60 million revolver (Ba2/B+); refinance existing debt and for general corporate purposes; Portland, Ore., provider of voice and internet services.

LAMAR MEDIA CORP.: $1.125 billion credit facility; JPMorgan, Wells Fargo and SunTrust; $250 million revolver talked at Libor plus 300 bps; $300 million term A talked at Libor plus 300 bps; $575 million term B talked at Libor plus 325 bps, 1.5% Libor floor, OID 991/2; refinance existing debt; Baton Rouge, La., provider of outdoor advertising services.

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.

MULTI PACKAGING SOLUTIONS INC.: $245 million credit facility (B2/B); Wells Fargo and UBS; $30 million five-year revolver talked at Libor plus 400 bps, upfront fee 99; $215 million six-year term loan talked at Libor plus 425 bps, 1.75% Libor floor, OID 99; dividend recapitalization; New York-based entertainment packaging company.

OPEN MOBILE: $175 million senior secured credit facility; Morgan Stanley and SunTrust; $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 talked at Libor plus 375 bps to 400 bps; provider of pre-paid wireless service in Puerto Rico.

OZBURN-HESSEY HOLDING CO. LLC: $385 million credit facility; Bank of America; $35 million revolver (Ba3/B) at Libor plus 525 bps; $275 million first-lien term loan (Ba3/B) at Libor plus 550 bps, 2% Libor floor, OID 983/4, 101 soft call; $75 million second-lien term loan (B3/CCC+) at Libor plus 850 bps, 2% Libor floor, OID 973/4, call protection 103, 102, 101; refinance existing debt; Brentwood, Tenn., third-party logistics provider.

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.

RE/MAX INTERNATIONAL INC.: $225 million credit facility; JPMorgan; $10 million revolver; $215 million term B at Libor plus 375 bps, 1.75% Libor floor, OID 99, 101 call protection; refinance existing debt and fund a dividend payment; Denver-based real estate company.

REYNOLDS AND REYNOLDS CO.: $1.895 billion credit facility (Ba3); Deutsche Bank, Bank of America and Credit Suisse; $75 million revolver; $1.82 billion seven-year term loan talked at Libor plus 350 to 375 bps, 1.75% Libor floor; refinance existing debt; Dayton, Ohio, dealer services company.

ROUNDY'S SUPERMARKETS INC.: $150 million second-lien term loan (Caa1/CCC+) talked at Libor plus 850 bps, 2% Libor floor, OID 98, call protection 103, 102, 101; Credit Suisse; fund a dividend payment; Milwaukee-based operator of retail grocery stores.

SCOTSMAN INDUSTRIES INC.: $145 million credit facility; GE Capital and UBS; $30 million revolver; $115 million term loan talked at Libor plus 450 bps, 1.75% Libor floor, OID 99; refinance existing debt and fund a dividend; Vernon Hills, Ill., manufacturer of commercial ice machines and related products.

SECURUS TECHNOLOGIES INC.: $210 million credit facility (B); Jefferies; $40 million revolver; $170 million term loan talked Libor plus 600 bps, 2% Libor floor, OID 98; refinance notes and general corporate purposes; Dallas-based provider of inmate communications services, and offender and case management software design.

SHERIDAN PRODUCTION PARTNERS: $700 million in seven-year term loans talked at Libor plus 450 bps, 2% Libor floor, OID 981/2; 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 at Libor plus 375 bps, 1.5% Libor floor, OID 991/4; 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.

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.

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.

BWAY HOLDING CO.: $565 million senior secured credit facility; Bank of America and Deutsche Bank; $490 million term loan; $75 million revolver; help fund buyout by Madison Dearborn Partners LLC; Atlanta-based supplier of general line rigid containers.

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: $125 million exit financing facility; UBS and Aladdin Capital; 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.: $365 million senior secured credit facility; Bank of America; $315 million term loan; $50 million revolver; 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 six-year senior secured term loan priced at Libor plus 375 bps if rated Ba3/BB- or better, Libor plus 400 bps if rated B1/B+ or lower, 1.75% Libor floor, OID 99; 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.

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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