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 4/23/2010 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $24.6435 billion deals being marketed

APRIL BANK MEETINGS

NEXTMEDIA OPERATING INC.: Bank meeting April 28; $145 million credit facility; Credit Suisse and Bank of America; $135 million six-year term loan (B3/B+) talked at Libor plus 700 bps, 2% Libor floor, OID 98; $10 million first-out revolver (Ba3) that is not being syndicated; exit financing; Greenwood Village, Colo., radio station operator.

RCN METRO FIBER: Bank meeting April 30; $265 million credit facility; SunTrust, GE Capital and Societe Generale; $25 million five-year revolver; $240 million six-year term loan; help fund buyout of RCN Corp. by ABRY Partners; Herndon, Va., broadband services provider.

U.S. RENAL CARE INC.: Bank meeting April 28; $155 million credit facility; RBC; $30 million five-year revolver talked at Libor plus 450 bps to 475 bps, 1.75% Libor floor; $125 million six-year term loan talked at Libor plus 450 bps to 475 bps, 1.75% Libor floor; help fund the acquisition of Dialysis Corp. of America Inc.; Plano, Texas, provider of outpatient dialysis services.

MAY BANK MEETINGS

RCN CABLE: Bank meeting May 7; $620 million credit facility; SunTrust, GE Capital and Societe Generale; $40 million five-year revolver; $580 million six-year term loan; help fund buyout of RCN Corp. by ABRY Partners; Herndon, Va., broadband services provider.

SOUTHERN WINE & SPIRITS OF AMERICA INC.: Bank meeting May 7; $2 billion five-year credit facility; Bank of America; $1 billion revolver; $1 billion term loan; refinance existing debt and for general corporate purposes; Miami-based wine and spirits distributor.

TRIUMPH GROUP INC.: $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.

UPCOMING CLOSINGS

ADVANTAGE SALES & MARKETING: $965 million credit facility; Credit Suisse, Bank of America and UBS; $655 million first-lien term loan at Libor plus 350 bps, 1.5% Libor floor, OID 991/2; $235 million second-lien term loan at Libor plus 700 bps, 1.5% Libor floor, OID 99, call protection 103, 102, 101; $75 million revolver at Libor plus 350 bps, 1.5% Libor floor; refinance debt and fund a dividend; Irvine, Calif., consumer packaged goods sales and marketing agency.

ASG CONSOLIDATED LLC: $475 million credit facility (Ba3/BB-); Bank of America, Wells Fargo and DNB; $85 million revolver at Libor plus 400 bps, 1.5% Libor floor; $390 million term loan at Libor plus 400 bps, 1.5% Libor floor, OID 99; refinance existing debt; Seattle-based harvester, processor, preparer and supplier of seafood.

ASPECT SOFTWARE INC.: $530 million credit facility (Ba3/B+); JPMorgan; $30 million four-year revolver; $500 million six-year term B talked at Libor plus 450 bps, 1.75% Libor floor, OID 981/2; refinance existing debt; Chelmsford, Mass., software and IT services firm.

ATRIUM COS. INC.: $185 million six-year term loan (B3) talked at Libor plus 500 bps, 2% Libor floor, OID 981/2; UBS; exit facility to repay existing debt; Dallas-based vinyl and aluminum window producer.

BUFFETS HOLDINGS INC.: $245 million five-year first-lien term loan (B3/B-) at Libor plus 800 bps cash plus 200 bps PIK, 2% Libor floor, OID 97, call protection 105, 103, 101; Credit Suisse; refinance exit facility; Eagan, Minn., steak-buffet restaurant company.

DEL TACO LLC: $195 million five-year credit facility; Wells Fargo and GE Capital; $35 million revolver; $160 million term loan talked at Libor plus 450 bps, 2% Libor floor, OID 98 to 99; refinance existing debt; Lake Forest, Calif., operator and franchiser of restaurants.

DS WATERS OF AMERICA INC.: $375 million credit facility (Ba2); JPMorgan; $100 million revolver; $275 million term loan talked at Libor plus 350 bps, 1.5% Libor floor, OID 99; refinance existing debt; Atlanta-based home and office water delivery company.

GENBAND INC.: $250 million term B (B) talked at Libor plus 450 bps, 2% Libor floor, OID 981/2; JPMorgan; help fund acquisition of substantially all assets of the Nortel Carrier VoIP and Application Solutions Business; Plano, Texas, next-generation media and security gateway services provider.

HARVARD DRUG GROUP LLC: $202 million senior secured credit facility (B1/B+); Credit Suisse and UBS; $160 million six-year term loan at Libor plus 450 bps, step-down to Libor plus 425 bps when leverage is less than 2.5x, 2% Libor floor, OID 99; $22 million six-year delayed draw term loan talked at Libor plus 450 bps, step-down to Libor plus 425 bps when leverage is less than 2.5x, 2% Libor floor, OID 99; $20 million five-year revolver; help fund already completed buyout by Court Square Capital from H.I.G. Capital LLC; 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.

IESI-BFC LTD.: $933.5 million credit facility; Bank of America; $345 million term loan due 2016 talked at Libor plus 325 bps, 1.5% Libor floor, OID 99, 101 soft call protection; $588.5 million revolver due 2014 talked at Libor plus 300 bps, 50 bps unused fee; refinance existing debt in connection with acquisition of Waste Services Inc.; Toronto-based waste management company.

IKARIA HOLDINGS INC.: $360 million credit facility (B1/BB-); Credit Suisse; $320 million six-year term loan talked at Libor plus 400 bps, 2% Libor floor, OID 99; $40 million five-year revolver talked at Libor plus 400 bps, 75 bps unused fee, 2% Libor floor, 2% upfront fee; refinance existing debt and fund a dividend; Clinton, N.J., biotherapeutics company.

INTERSIL CORP.: $465 million credit facility (Ba2/BB+); Morgan Stanley and Bank of America; $390 million six-year senior secured term loan talked at Libor plus 325 bps, 1.5% to 1.75% Libor floor, OID 99½ to par; $75 million 31/2-year revolver talked at Libor plus 300 bps, 50 bps undrawn fee, 1.5% to 1.75% Libor floor, OID 981/2; help fund acquisition of Techwell Inc.; Milpitas, Calif., designer and manufacturer of high-performance analog and mixed-signal semiconductors.

LAMAR MEDIA CORP.: $1.125 billion credit facility (Baa3/BB); 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 at Libor plus 300 bps, step-down to Libor plus 275 bps at less than 2.5x leverage, 1.25% Libor floor, OID 991/2; refinance existing debt; Baton Rouge, La., provider of outdoor advertising services.

LIVE NATION ENTERTAINMENT INC.: $1.2 billion senior secured credit facility (Ba2/BB-); JPMorgan, Goldman Sachs and Deutsche Bank; $300 million revolver talked at Libor plus 300 bps, 50 bps commitment fee; $100 million 51/2-year term A talked at Libor plus 300 bps; $800 million 61/2-year term B talked at Libor plus 325 bps, 1.5% Libor floor, OID 99 to 991/2; refinance existing bank debt; Beverly Hills, Calif., producer of live music concerts.

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.

MEDIACOM: $850 million in term loans (Ba3/BB-); JPMorgan (left on Mediacom) and Bank of America (left on Broadband); $250 million term loan E at Mediacom LLC at Libor plus 300 bps, 1.5% Libor floor, OID 991/2, 101 soft call; $600 million term loan F at Mediacom Broadband LLC at Libor plus 300 bps, 1.5% Libor floor, OID 991/2, 101 soft call; refinance existing debt and for general corporate purposes; Middletown, N.Y.-based developer of cable systems.

MEDICAL PROPERTIES TRUST INC.: $450 million credit facility (Ba1/BB); JPMorgan, KeyBank and RBC; $300 million revolver; $150 million term loan talked at Libor plus 350 bps, 1.5% Libor floor, OID 99; general corporate purposes; Birmingham, Ala., self-advised real estate investment trust focused on net-leased health care facilities.

MSCI INC.: $1.375 billion senior secured credit facility (Ba2/BB+); Morgan Stanley; $100 million five-year revolver talked at Libor plus 350 bps, 1.5% Libor floor; $1.275 billion six-year term B talked at Libor plus 350 bps, 1.5% Libor floor, OID 99; 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.

MULTI PACKAGING SOLUTIONS INC.: $212.5 million credit facility (B2/B); Wells Fargo, UBS and Barclays; $30 million five-year revolver at Libor plus 400 bps, upfront fee 99; $182.5 million six-year term loan at Libor plus 450 bps, step down to Libor plus 425 bps based on leverage, 2% Libor floor, OID 99; dividend recapitalization; New York-based entertainment packaging company.

NATIONAL VISION INC.: $220 million six-year term loan; JPMorgan; fund a dividend and refinance debt; Lawrenceville, Ga., provider of optical products and services.

OMNICARE INC.: $350 million revolver talked at Libor plus 225 bps to 350 bps based on leverage; SunTrust; general corporate purposes; Covington, Ky., pharmaceutical services 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.

PHILLIPS-VAN HEUSEN CORP.: $2.45 billion senior secured credit facility (Ba2/BBB); Barclays, Deutsche Bank, Bank of America, Credit Suisse and RBC; $450 million multicurrency five-year revolver talked at Libor plus 300 bps on U.S., Euribor plus 325 bps on foreign, 50 bps to 100 bps upfront based on order size; $500 million five-year term A talked at Libor plus 300 bps on U.S., Euribor plus 325 bps on euro, 1.75% Libor floor, 50 bps to 100 bps upfront based on order size; $1.5 billion six-year term B at Libor plus 300 bps on U.S., Euribor plus 325 bps on euro, 1.75% Libor floor, OID 991/2; help fund acquisition of Tommy Hilfiger BV from Apax Partners LP and refinance existing senior unsecured notes; New York-based apparel company.

PRIME HEALTHCARE SERVICES INC.: Expected close April 27; $232 million credit facility (B1); RBC; $72 million term A at Libor plus 425 bps, 2% Libor floor, OID 981/2; $160 million five-year term B 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.: $1.23 billion credit facility (Ba2/BB+); JPMorgan and U.S. Bank; $530 million four-year revolver; $700 million six-year term B at Libor plus 400 bps, 1.5% Libor floor, OID 981/2, 101 soft call; help fund acquisition of World Color Press Inc.; Sussex, Wis., printer of catalogs, magazines and other commercial products.

REYNOLDS GROUP HOLDINGS LTD.: $750 million term loan (B1) talked at Libor plus 425 bps, 1.5% Libor floor, OID 991/2; Credit Suisse; fund acquisitions of the Evergreen Packaging group of companies and the Whakatane Mill from Carter Holt Harvey Ltd.; Auckland, New Zealand, manufacturer and supplier of consumer food and beverage packaging and storage products.

SCOTSMAN INDUSTRIES INC.: $145 million credit facility (B1/B+); GE Capital and UBS; $30 million revolver; $115 million term loan at Libor plus 425 bps, step down to Libor plus 400 bps when total net leverage is less than 2.50x, 1.5% 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, soft call 102, 101; refinance notes and general corporate purposes; Dallas-based provider of inmate communications services, and offender and case management software design.

SRAM CORP.: $315 million credit facility (Ba3/BB-); GE Capital; $25 million revolver talked at Libor plus 350 bps, 1.5% Libor floor, $290 million term loan talked at Libor plus 350 bps, 1.5% Libor floor, OID 99; refinance existing debt; Chicago-based bike components company.

TELCORDIA TECHNOLOGIES INC.: $580 million senior secured credit facility (B1/B+); Credit Suisse, JPMorgan and Deutsche Bank; $80 million five-year revolver talked at Libor plus 450 bps, 75 bps commitment fee, 2% Libor floor, OID 98; $500 million six-year first-lien term loan talked at Libor plus 500 bps to 550 bps, 2% Libor floor, OID 98; help fund recapitalization, including bond tender offer; Piscataway, N.J., developer of fixed, mobile and broadband communications software and services.

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.

UNITED STATES INFRASTRUCTURE CORP.: $158.5 million five-year credit facility; GE Capital and BNP Paribas; $45 million revolver talked at Libor plus 425 bps, 1.5% Libor floor, OID 981/2; $113.5 million term loan talked at Libor plus 425 bps, 1.5% Libor floor, OID 981/2; help fund buyout by OMERS from Kohlberg & Co.; Carmel, Ind., provider of utility infrastructure locating services.

UNIVERSAL CITY DEVELOPMENT PARTNERS LTD.: $900 million 41/2-year term B talked at Libor plus 375 bps, 1.75% Libor floor, OID 991/2; JPMorgan; refinance existing debt; Orlando, Fla., owner and operator of theme parks.

U.S. SILICA CO.: $160 million term loan talked at Libor plus 450 bps, 1.75% Libor floor, OID 99; BNP Paribas; refinance existing debt; Berkeley Springs, W.Va., producer of ground and unground silica sand, kaolin clay, aplite and related industrial minerals.

VIAWEST INC.: $140 million credit facility; RBC; $10 million revolver talked at Libor plus 450 bps, 2% Libor floor; $110 million first-lien term loan revolver talked at Libor plus 450 bps, 2% Libor floor; $20 million delayed-draw term loan revolver talked at Libor plus 450 bps, 2% Libor floor; help fund buyout by Oak Hill Capital Partners from Trinity Equity Investors, Goldman Sachs & Co. and Quilvest; Denver-based data center and managed services company.

WILLBROS GROUP INC.: $475 million credit facility (B2/BB-); Credit Agricole and UBS joint bookrunners on term loan B, Credit Agricole bookrunner on revolver; $175 million three-year revolver talked at Libor plus 425 bps, step down to Libor plus 375 bps after an interim period; $300 million four-year term B talked at Libor plus 450 bps to 500 bps, 50 bps step down after an interim period, 2% Libor floor, OID 98 to 981/2; help fund acquisition of InfrastruX Group Inc.; Houston-based independent contractor for the oil, gas, power, refining and petrochemical industries.

ON THE HORIZON

AMERICAN TIRE DISTRIBUTORS HOLDINGS INC.: New credit facility; Bank of America, Barclays Capital, GE Capital, RBC Capital Markets, UBS and Wells Fargo; help fund buyout by TPG Capital from Investcorp, Berkshire Partners LLC and Greenbriar Equity Group LLC; Charlotte, N.C., distributor of replacement tires.

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.

CALPINE CORP.: $1.4 billion credit facility; Credit Suisse, Citigroup and Deutsche Bank; $1.3 billion seven-year term loan; $100 million revolver; help fund acquisition of power generation assets from Pepco Holdings Inc.; Houston-based power generation 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.

DYNCORP INTERNATIONAL INC.: $715 million senior secured credit facility; Bank of America, Citigroup, Barclays Bank and Deutsche Bank; $565 million term loan; $150 million revolver; help fund buyout by Cerberus Capital Management LP; Falls Church, Va., government services provider in support of U.S. national security and foreign policy objectives.

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.

GENON ENERGY: New credit facility; revolver; term loan; help fund creation through merger of Mirant Corp. and RRI Energy Inc.; Houston-based power producer.

GEO GROUP INC.: $150 million of new financing; BNP Paribas; help fund acquisition of Cornell Cos. Inc.; Boca Raton, Fla., prison operator.

HILLMAN COS. INC.: New credit facility; Barclays Capital, Morgan Stanley and GE Capital; help fund buyout by Oak Hill Capital Partners from Code Hennessy & Simmons and Ontario Teachers' Pension Plan; Cincinnati-based distributor of SKUs, including fasteners, key duplication systems, engraved tags and related hardware items.

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.

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.

SEDGWICK CLAIMS MANAGEMENT SERVICES INC.: New credit facility; Bank of America and Barclays; help fund buyout by Stone Point Capital LLC and Hellman & Friedman LLC from Fidelity National Financial Inc., Thomas H. Lee Partners LP and Evercore Capital Partners; Memphis, Tenn., provider of claims and productivity management solutions to corporate and institutional clients.

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.

VERTIS HOLDING INC.: $600 million in new first-lien debt (B3) and $200 million senior secured asset-based revolver; GE Capital left lead on revolver; refinance existing debt; Baltimore-based marketing communications company.

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.