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Published on 1/4/2011 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $19.995 billion deals being marketed

JANUARY BANK MEETINGS

ACCENTCARE INC.: New credit facility; help fund buyout by Oak Hill Capital Partners and merger with Guardian Home Care Holdings Inc.; Irvine, Calif., provider of home health care services.

ATTACHMATE CORP.: Bank meeting expected Jan. 10; $1.09 billion senior secured credit facility; Credit Suisse, RBC, Goldman Sachs and Citadel; $40 million revolver; $825 million first-lien term loan; $225 million second-lien term loan; help fund acquisition of Novell Inc.; Seattle-based provider of access and integration software for legacy systems.

COMMSCOPE INC.: Bank meeting for term loan Jan. 5; $1.4 billion senior secured credit facility; JPMorgan; $1 billion seven-year term loan (Ba3/BB); $400 million senior secured asset-based revolver (launched Dec. 8); help fund buyout by the Carlyle Group; Hickory, N.C., provider of infrastructure services for communication networks.

COMPASS DIVERSIFIED HOLDINGS: Bank meeting Jan. 11; $525 million senior secured credit facility; TD Securities, BMO and SunTrust; $325 million five-year revolver guided at Libor plus 325 bps; $200 million six-year last-out term loan B guided at Libor plus 425 bps to 475 bps, 1.5% Libor floor, OID 981/2; refinance existing debt and for general corporate purposes; Westport, Conn., investment firm specializing in acquiring controlling stakes in small- to middle-market companies.

CPI INTERNATIONAL INC.: $178 million senior secured credit facility; UBS; $148 million term loan; $30 million revolver; help fund buyout by Veritas Capital; Palo Alto, Calif., provider of microwave, radio frequency, power and control services.

DEL MONTE FOODS CO.: $3 billion senior secured credit facility; JPMorgan, Barclays, Morgan Stanley, Bank of America and KKR Capital Markets; $2.5 billion term loan; $500 million revolver; help fund buyout by Kohlberg Kravis Roberts & Co. LP, Vestar Capital Partners and Centerview Partners; San Francisco-based branded pet and consumer products company.

ELECTRICAL COMPONENTS INTERNATIONAL: Bank meeting Jan. 5; $190 million credit facility; Credit Suisse; $30 million revolver; $160 million term loan; refinance existing debt; St. Louis-based provider of wire harnesses, subassemblies and assembly services.

ENCOMPASS DIGITAL MEDIA INC.: Bank meeting expected Jan. 17 week; $195 million senior secured credit facility; Macquarie Capital; $175 million term loan; $20 million revolver; fund acquisition of the content distribution business of Ascent Media Corp.; Los Angeles-based digital media services provider.

EQUIPOWER RESOURCES HOLDINGS: Bank meeting Jan. 6; $525 million secured credit facility (Ba3); Barclays; $100 million revolver; $425 million seven-year term loan; fund the acquisition of Milford Power and fund a distribution to the sponsor; Hartford, Conn., competitive power generation company.

HOUGHTON INTERNATIONAL INC.: Bank meeting Jan. 10 week; $365 million senior secured credit facility (B+); Deutsche Bank, Bank of Ireland and GE Capital; $50 million revolver; $315 million term B; refinance senior secured debt and to fund acquisition of Royal Dutch Shell plc's Metalworking and Metal Rolling Oils business; Valley Forge, Pa., developer and producer of specialty chemicals, oils and lubricants.

J. CREW GROUP INC.: $1.25 billion senior secured credit facility; Bank of America and Goldman Sachs; $250 million five-year asset-based revolver expected at Libor plus 250 bps; $1 billion seven-year term loan expected at Libor plus 450 bps, 1.5% Libor floor; help fund buyout by TPG Capital and Leonard Green & Partners LP; New York-based retailer of apparel, shoes and accessories.

NATIONAL SURGICAL HOSPITALS INC.: Bank meeting Jan. 7; $220 million senior secured credit facility; Jefferies; $20 million five-year revolver; $170 million six-year term loan; $30 million six-year delayed-draw term loan; help fund buyout by Irving Place Capital; Chicago-based owner, operator and developer of surgical hospitals and surgery centers.

SOURCEMEDIA INC.: Bank meeting Jan. 5; $170 million credit facility; Citigroup, GE Capital and BMO; $25 million revolver; $145 million term loan; refinance existing debt; New York-based provider of news, analysis, research and data for the financial services community, and related fields.

UCI INTERNATIONAL INC.: Bank meeting Jan. 6; $525 million senior secured credit facility (Ba3/B); Credit Suisse, HSBC and Nomura; $75 million revolver; $450 million term loan talked at Libor plus 450 bps, 1.75% Libor floor, OID 99, 101 soft call; help fund acquisition by Rank Group Ltd.; Evansville, Ind., supplier of replacement parts to the light- and heavy-duty vehicle aftermarket.

WALTER ENERGY INC.: $2.725 billion senior secured credit facility; Morgan Stanley, Credit Agricole, Bank of Nova Scotia; $375 million five-year revolver expected at Libor plus 350 bps if corporate ratings are Ba3/BB-, otherwise Libor plus 375 bps; $600 million five-year term A expected at Libor plus 350 bps if corporate ratings are Ba3/BB-, otherwise Libor plus 375 bps; $1.75 billion seven-year term B expected at Libor plus 350 bps if corporate ratings are Ba3/BB-, otherwise Libor plus 375 bps, 1.5% Libor floor; help fund acquisition of Western Coal, refinance debt and for working capital; Tampa, Fla., producer and exporter of metallurgical coal for the steel industry.

UPCOMING CLOSINGS

EVERGREEN INTERNATIONAL AVIATION INC.: $330 million credit facility (B-); Goldman Sachs; $10 million revolver; $320 million term loan; refinance existing debt; McMinnville, Ore., aviation services company.

FLEXERA SOFTWARE INC.: $215 million credit facility (B2/BB-); Barclays and RBC; $15 million revolver talked at Libor plus 525 bps, 1.75% Libor floor; $200 million term B talked at Libor plus 525 bps, 1.75% Libor floor, OID 98; refinance existing debt and fund a dividend; Schaumburg, Ill., provider of software that helps simplify the business relationship between software producers and enterprises.

INTELSAT: $3.75 billion credit facility (B1); Bank of America, Credit Suisse and JPMorgan; $3.25 billion term loan at Libor plus 375 bps, 1.5% Libor floor, OID 991/2, 101 soft call; $500 million revolver; refinance existing debt; Luxembourg-based provider of fixed satellite services.

NEXTAG INC.: $250 million credit facility (B1/BB-); Deutsche Bank, JPMorgan and Morgan Stanley; $200 million seven-year term B talked at Libor plus 475 bps to 500 bps, 1.5% Libor floor, OID 99; $50 million revolver; fund distribution to shareholders and general corporate purposes; San Mateo, Calif., comparison shopping website for products and services.

ORLEANS HOMEBUILDERS INC.: $155 million credit facility; JPMorgan; $125 million term loan (B-) talked at Libor plus 650 bps, 2% Libor floor, OID 98; $30 million revolver; exit financing; Bensalem, Pa., developer, builder and marketer of single-family homes, townhouses and condominiums.

PAXTON MEDIA GROUP LLC: $240 million credit facility (B2/B+); Wells Fargo and U.S. Bank; $10 million five-year revolver talked at Libor plus 450 bps; $20 million three-year term A talked at Libor plus 450 bps; $210 million six-year term B talked at Libor plus 550 bps, 1.75% Libor floor, OID 98; refinance existing debt; Paducah, Ky., newspaper and television company.

REVEL ENTERTAINMENT GROUP LLC: $1.287 billion credit facility; JPMorgan; $800 million first-lien loan talked at Libor plus 825 bps, 2% Libor floor, OID 97, non-call one, 103, 102, 101; $487 million second-lien loan talked at 12.5%, OID 97, non-call three 106, 103, 1011/2; fund the construction of a casino and hotel in Atlantic City, N.J.; gaming and entertainment company.

SIRVA INC.: $235 million credit facility; Barclays leading term loan, Wells Fargo leading revolver; $175 million six-year term loan; $60 million ABL revolver; refinance first- and second-lien bank debt; Westmont, Ill., provider of relocation and moving services.

SYNIVERSE TECHNOLOGIES: $1.175 billion senior secured credit facility (B1/BB-); Barclays Capital, Credit Suisse and Goldman Sachs; $150 million revolver at Libor plus 375 bps, 1.5% Libor floor, OID 981/2; $1.025 billion term loan at Libor plus 375 bps, 1.5% Libor floor, OID 99, 101 soft call; help fund buyout by Carlyle Group; Tampa, Fla., provider of technology and business services for the telecommunications industry.

ON THE HORIZON

ASHLAND DISTRIBUTION: New ABL revolver; Bank of America; help fund buyout by TPG Capital from Ashland Inc.; chemical distribution company.

FAIRPOINT COMMUNICATIONS INC.: $1.075 billion five-year credit facility; Bank of America; $1 billion secured term loan at Libor plus 450 bps, 2% Libor floor; $75 million revolver at Libor plus 450 bps, 75 bps unused fee; exit financing; Charlotte, N.C., provider of communications services.

FRAC TECH SERVICES LLC: $200 million four-year senior secured revolver; Credit Suisse; replace existing revolver; Cisco, Texas, oilfield service company.

GEO GROUP: New debt financing; BNP Paribas, Wells Fargo, Bank of America, Barclays Capital, SunTrust and JPMorgan; help fund acquisition of Behavioral Interventions Inc.; Boca Raton, Fla., provider of correctional, detention, and residential treatment services to federal, state and local government agencies.

JO-ANN STORES INC.: $1.025 billion senior secured credit facility; JPMorgan and Bank of America; $650 million term loan; $375 million ABL revolver; help fund buyout by Leonard Green & Partners LP; Hudson, Ohio, specialty retailer of fabrics and crafts.

NORTHSTAR LLC: $100 million senior secured credit facility; ING Capital; $10.5 million revolver; $89.5 million multi-draw term loan; fund construction and operation of a canola processing plant with an integrated refinery near Hallock, Minn., that is majority owned by PICO Holdings Inc.; expected close by April 15.

NORTHSTAR REALTY FINANCE CORP.: $200 million secured credit facility; Wells Fargo; New York-based finance real estate investment trust.

RAINBOW MEDIA HOLDINGS LLC: New debt financing; refinance existing debt in connection with spin-off from Cablevision Systems Corp.; holder of portfolio of programming assets.

ROVI CORP.: $500 million term loan; fund general corporate purposes, including the repurchase of common stock and convertible notes; Santa Clara, Calif., provider of next generation guidance solutions including TotalGuide, discovery, metadata, advertising and networking technologies.

SEVAN DRILLING AS: $480 million senior debt facility; DVB Group Merchant Bank P, NIBC Bank and ING; replace the existing debt of the Sevan Driller rig; Norway-based owner, operator and licenser of FPSOs and drilling units.

TESORO LOGISTICS LP: $150 million senior secured revolver, 50 basis points unused fee; general corporate purposes and fund distribution to Tesoro Corp. in connection with common units IPO; San Antonio, Texas, owner, operator, developer and acquirer of crude oil and refined products logistics assets.

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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