Bank Loan Calendar: $15.910 billion deals being marketed

November Bank Meetings

B&G FOODS INC.: Term B bank meeting expected in November (pro rata launched Nov. 3); $500 million senior secured credit facility; Credit Suisse, Barclays and RBC; $100 million five-year revolver talked at Libor plus 300 bps, 50 bps unused fee; $100 million five-year term A talked at Libor plus 300 bps; $300 million term B; fund acquisition of six brands from Unilever United States Inc. and refinance existing bank debt; Parsippany, N.J., manufacturer, seller and distributor of shelf-stable food.

COLFAX CORP.: Bank meeting Nov. 10; $2.1 billion credit facility (Ba2/BB+); Deutsche Bank and HSBC; $300 million revolver talked at Libor plus 300 bps; $200 million term A-1 tranche talked at Libor plus 300 bps; $700 million term A-2 tranche talked at Libor plus 300 bps; $900 million term B expected at Libor plus 400 bps, 1.25% Libor floor; help fund acquisition of Charter International plc; Fulton, Md., supplier of fluid-handling products.

ENTERCOM COMMUNICATIONS CORP.: Bank meeting Nov. 9; $395 million senior secured credit facility; Bank of America, Credit Suisse and Morgan Stanley; $50 million five-year revolver; $345 million seven-year term loan; refinance existing debt; Bala Cynwyd, Pa., radio broadcasting company.

GLOBAL*TEL LINK CORP.: Bank meeting expected Nov. 14 week; new credit facility; Credit Suisse, UBS, GE Capital and Nomura; help fund buyout by American Securities from Veritas Capital and GS Direct; Mobile, Ala., correctional communications technology company.

PHARMACEUTICAL PRODUCT DEVELOPMENT INC.: Bank meeting Nov. 8; $1.5 billion senior secured credit facility; Credit Suisse, JPMorgan, Goldman Sachs and UBS; $1.325 billion term loan talked at Libor plus 550 bps, 1.25% Libor floor, OID 97, 101 soft call; $175 million revolver; help fund buyout by Carlyle Group and Hellman & Friedman; Wilmington, N.C., product development and management services provider to the pharmaceutical research industry.

Upcoming Closings

AGCO CORP.: $1 billion five-year credit facility; Rabobank, JPMorgan, SunTrust and Bank of Tokyo; $600 million revolver at Libor plus 150 bps, 25 bps unused fee; $400 million term A at Libor plus 150 bps; help fund acquisition of GSI Holdings Corp. from Centerbridge Partners LP and refinance existing credit lines; Duluth, Ga., manufacturer and distributor of agricultural equipment.

ASSET ACCEPTANCE CAPITAL CORP.: $275 million credit facility; JPMorgan; $100 million five-year revolver; $175 million six-year term B at Libor plus 725 bps, 1.5% Libor floor, OID 931/2, soft call 102, 101; refinance existing senior secured credit facility; Warren, Mich., purchaser and collector of defaulted or charged-off accounts receivable portfolios from consumer credit originators.

BAJA BROADBAND: $103 million credit facility; GE Capital; $10 million five-year revolver at Libor plus 550 bps, 1.5% Libor floor, OID 98; $78 million five-year first-lien term loan at Libor plus 550 bps, 1.5% Libor floor, OID 98; $15 million six-year second-lien term loan; refinance existing debt and fund the acquisition of U.S. Cable; Fort Mill, S.C., full-service telecommunications company.

BOYD GAMING CORP.: Expected to fund Nov. 10; $350 million incremental term loan (Ba3/BB-/BB) due December 2015 at Libor plus 475 bps, 1.25% Libor floor, OID 98, 101 soft call; Bank of America, Wells Fargo, JPMorgan, Deutsche Bank and Barclays; pay down revolver debt; Las Vegas-based owner and operator of gaming entertainment properties.

CBRE GROUP INC.: Roughly $300 million senior secured sterling term loan A-1 due May 2016 at Libor plus 200 bps to 375 bps based on leverage; HSBC and JPMorgan; enhance financial flexibility; Los Angeles-based commercial real estate services firm.

CSC HOLDINGS LLC: $600 million term A (Baa3/BBB-/BB+) talked at Libor plus 200 bps; Bank of America; help fund a tender offer for notes and for general corporate purposes; Bethpage, N.Y., media and telecommunications company.

DIVERSIFIED MACHINE INC.: $235 million credit facility; BMO and Mizuho; $60 million asset-based revolver; $175 million term loan (B3/B) talked at Libor plus 775 bps, 1.5% Libor floor, OID 98; help fund buyout by Platinum Equity from the Carlyle Group; Howell, Mich., precision machining company specializing in providing automotive powertrain components.

E.W. SCRIPPS CO.: $312 million five-year credit facility; SunTrust; $100 million revolver talked at Libor plus 400 bps; $212 million term loan talked at Libor plus 400 bps; fund acquisition of stations from McGraw-Hill Broadcasting; Cincinnati-based media enterprise with interests in television stations and newspapers.

FUNDTECH LTD.: $225 million senior secured credit facility (B1/B+); RBC and BMO; $25 million five-year revolver; $200 million six-year term loan talked at Libor plus 600 bps, 1.5% Libor floor, OID 97 area, 101 soft call; help fund buyout by GTCR and merger with BankServ; Jersey City, N.J.-based provider of software services that facilitate payments processing, financial messaging and cash management for financial institutions.

HEALTH MANAGEMENT ASSOCIATES INC.: $2.7 billion credit facility (Ba3/BB-/BB+); Wells Fargo, Deutsche Bank, Citigroup, SunTrust and Barclays; $500 million five-year revolver talked at Libor plus 275 bps; $1 billion five-year term A talked at Libor plus 275 bps; $1.2 billion seven-year term B talked at Libor plus 375 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance existing debt; Naples, Fla., operator of acute care hospitals.

INVENERGY LLC: $200 million term loan (BB-) talked at Libor plus 750 bps, 1.5% Libor floor, OID 98, non-call one, soft call 102, 101; Credit Suisse and Bank of America; refinance existing debt; Chicago-based developer, owner and operator of large-scale renewable and other clean energy generation facilities.

LEVEL 3 FINANCING INC.: Expected close Nov. 10; $550 million term B III (Ba3/B+/BB) due Sept. 1, 2018 at Libor plus 425 bps, 1.5% Libor floor, OID 95, 101 soft call through October 2012; Bank of America, Citigroup, Morgan Stanley, Credit Suisse, Deutsche Bank and Wells Fargo; repay convertibles and term loan; Broomfield, Colo., provider of fiber-based communications services.

MILK SPECIALTIES GLOBAL: $230 million credit facility; RBC; $25 million revolver (B2/B+); $145 million first-lien term loan (B2/B+) talked at Libor plus 650 bps, 1.5% Libor floor, OID 97 to 98; $60 million second-lien term loan (CCC+) talked at Libor plus 1,050 bps, 1.5% floor, OID 96 to 97, non-call one, 102, 101; help fund buyout by HM Capital from Stonehenge Partners Inc.; Carpentersville, Ill., manufacturer of nutrition products.

NATIONAL HEALING CORP.: $355 million senior secured credit facility; Jefferies, RBC and BMO; $30 million five-year revolver (B1/B+); $250 million six-year first-lien term loan (B1/B+) talked at Libor plus 600 bps, 1.5% Libor floor, OID 97, 101 soft call; $75 million seven-year second-lien term loan (Caa1/CCC+) talked at Libor plus 950 bps, 1.5% Libor floor, OID 97, non-call one, 103, 102, 101; help fund acquisition of Diversified Clinical Services (Wound Care Holdings) by Metalmark Capital from the Jordan Co., and merger with National Healing; Boca Raton, Fla., provider of wound care services to hospitals.

NEUSTAR INC.: $700 million senior secured credit facility (Ba2/BB+); Morgan Stanley; $100 million five-year revolver at Libor plus 350 bps, OID 99; $600 million seven-year term B at Libor plus 375 bps, 1.25% Libor floor, OID 981/2, 101 soft call; help fund acquisition of Targus Information Corp.; Sterling, Va., provider of directory services that enable communication across networks, applications and enterprises.

OPEN LINK FINANCIAL INC.: $390 million credit facility (B2/B+); Credit Suisse and Wells Fargo; $50 million revolver; $340 million term loan at Libor plus 625 bps, 1.5% Libor floor, OID 98, 101 soft call; help fund buyout by Hellman & Friedman from Carlyle Group; Uniondale, N.Y., provider of cross-asset trading, risk management and operations processing software services.

OPEN TEXT INC.: $700 million senior secured credit facility; Barclays and RBC; $100 million revolver at Libor plus 250 bps, 30 bps unused fee; $600 million term A at Libor plus 250 bps; add cash to the balance sheet, refinance existing bank debt and for working capital purposes; Waterloo, Ont., enterprise software company.

POLYONE CORP.: Expected close Nov. 17; $600 million credit facility; Bank of America and Wells Fargo; $300 million six-year term B (Ba1/BB-) at Libor plus 375 bps, step down to Libor plus 350 bps at 2.25x leverage, 1.25% Libor floor, OID 99, 101 soft call; $300 million five-year ABL revolver talked at Libor plus 200 bps; help fund acquisition of ColorMatrix Group Inc.; Avon Lake, Ohio, provider of specialized polymer materials and services.

REGIONALCARE HOSPITAL: $460 million senior secured credit facility; Citigroup, Morgan Stanley and Deutsche Bank; $100 million five-year revolver (B2/B); $295 million seven-year first-lien term B (B2/B) at Libor plus 650 bps, 1.5% Libor floor, OID 96, 101 soft call; $65 million 71/2-year second-lien term loan (CCC+); help fund the purchase of Essent Healthcare from Vestar Capital Partners and Cressey & Co.; Brentwood, Tenn., owner and operator of hospitals.

TENSAR INTERNATIONAL CORP. INC.: $325 million credit facility; Barclays; $25 million four-year ABL revolver grid-based pricing ranging from Libor plus 250 bps to 300 bps, 50 bps unused fee; $190 million five-year first-lien term B (B1/B) talked at Libor plus 750 bps, 1.75% Libor floor, OID 95, 101 call protection; $110 million 51/2-year second-lien term C (Caa1/CCC+) talked at Libor plus 1,175 bps, 1.75% floor, OID 95, non-call one, 102, 101; refinance existing capital structure; Atlanta-based provider of specialty products and engineering services.

TOTAL SAFETY: $275 million credit facility (B2/B-); Deutsche Bank and Credit Suisse; $40 million five-year revolver; $235 million 61/2-year term loan at Libor plus 625 bps, 1.25% Libor floor, OID 96, soft call 102, 101; help fund buyout by Warburg Pincus from DLJ Merchant Banking Partners; Houston-based outsourced provider of integrated safety and compliance services and the products necessary to support them.

TRIPLE POINT TECHNOLOGY INC.: $185 million credit facility (B1); Credit Suisse and GE Capital; $20 million five-year revolver; $165 million six-year term loan at Libor plus 650 bps, 1.5% Libor floor, OID 96, 101 soft call; help fund buyout by Welsh, Carson, Anderson & Stowe from ABRY Partners; Westport, Conn., provider of software for end-to-end commodity management.

UNIFRAX I LLC: $540 million credit facility (B2/B+); Goldman Sachs, Wells Fargo, GE Capital and KeyBanc; $50 million five-year revolver; $490 million seven-year term B talked at Libor plus 600 bps, 1.5% Libor floor, OID 97, 101 soft call; help fund buyout by American Securities; Niagara Falls, N.Y., supplier of high-temperature insulation products.

YOUNG BROADCASTING: $175 million five-year senior secured credit facility; Wells Fargo; $25 million revolver talked at Libor plus 350 bps; $150 million term A talked at Libor plus 350 bps; general corporate purposes; New York-based owner of television stations.

ZYWAVE INC.: $130 million credit facility; BMO; $10 million revolver talked at Libor plus 550 bps, 1.5% Libor floor, OID 99; $120 million term loan talked at Libor plus 550 bps, 1.5% Libor floor, OID 99; acquisition financing; Milwaukee-based developer of employee benefits and property & casualty insurance software.

On The Horizon

99 CENTS ONLY STORES: $675 million credit facility; RBC, BMO and Deutsche Bank; $150 million five-year ABL revolver expected at Libor plus 200 bps, 37.5 bps unused fee; $525 million seven-year term loan expected at Libor plus 600 bps, 1.5% Libor floor, 101 soft call; help fund buyout by Ares Management LLC and Canada Pension Plan Investment Board; City of Commerce, Calif., operator of extreme value retail stores.

A.C. MOORE ARTS & CRAFTS INC.: Up to $77.5 million five-year senior secured revolver at Libor plus 250 bps; Wells Fargo; help fund buyout by Sbar's Acquisition Corp. and for other general corporate purposes and working capital needs; Berlin, N.J., specialty retailer of arts, crafts and floral merchandise.

AMERICAN DENTAL PARTNERS INC.: $256 million senior secured credit facility; KeyBanc, CIT and NXT; $36 million revolver; $220 million term loan; help fund buyout by JLL Partners Inc.; Wakefield, Mass., business partner to dental group practices.

CATALENT PHARMA SOLUTIONS INC.: New term loan; help fund acquisition of Aptuit LLC's clinical trial supplies business; Somerset, N.J., provider of advanced technologies, and development, manufacturing, and packaging services for pharmaceutical, biotechnology and consumer health care companies.

CONVERGEX HOLDINGS LLC: New credit facility; Bank of America, Barclays, Deutsche Bank, Morgan Stanley and Citigroup; term loan; revolver; help fund buyout by CVC Capital Partners from GTCR; New York-based technology company providing mission-critical proprietary software products and technology-enabled services to asset managers and financial intermediaries.

COSTAR GROUP INC.: $465 million credit facility; JPMorgan; $415 million seven-year term loan expected at Libor plus 350 bps, 1.25% Libor floor; $50 million five-year revolver expected at Libor plus 300 bps; help fund acquisition of LoopNet Inc.; Washington, D.C.-based commercial real estate information company.

CVR ENERGY INC.: $150 million ABL facility add-on; Deutsche Bank, Barclays, RBS and SunTrust; help fund acquisition of Gary-Williams Energy Corp.; Sugar Land, Texas-based refiner and marketer of transportation fuels.

ENDURANCE INTERNATIONAL GROUP: New debt financing; Credit Suisse; help fund buyout by Warburg Pincus and GS Capital Partners from Accel-KKR; Burlington, Mass., provider of web hosting and online services.

HMS HOLDINGS CORP.: $450 million credit facility; Citigroup; $100 million revolver; $350 million term loan; help fund purchase of HealthDataInsights Inc.; New York-based coordinator of benefits and program integrity services for health care payers.

NEW ENTERPRISE STONE & LIME CO. INC.: New credit facility; refinance existing bank debt; New Enterprise, Pa., construction materials supplier and heavy/highway construction contractor.

NPC ACQUISITION HOLDINGS LLC: New senior credit facility; Barclays and Goldman Sachs; help fund buyout by Olympus Partners; Overland Park, Kan., Pizza Hut franchisee.

PAR PHARMACEUTICAL COS. INC.: $450 million five-year credit facility; JPMorgan; $350 million term loan expected at Libor plus 250 bps; $100 million revolver expected at Libor plus 250 bps, 37.5 bps unused fee; help fund acquisition of Anchen Pharmaceuticals Inc. and refinance existing revolver; Woodcliff Lake, N.J., specialty pharmaceutical company.

PLAINS OFFSHORE OPERATIONS INC.: $300 million revolver; in connection with purchase by EIG Global Energy Partners of 20% equity stake from Plains Exploration & Production Co.; holder of an oil-focused Gulf of Mexico portfolio.

SINCLAIR BROADCAST GROUP INC.: New term loan; help fund acquisition of Four Points Media Group LLC from Cerberus Capital Management LP; Hunt Valley, Md., television broadcasting company.

SOPHIA LP (SUNGARD HIGHER EDUCATION/DATATEL INC.): New credit facility; Bank of America, Barclays, Citigroup, Credit Suisse and JPMorgan; help fund buyout of SunGard Higher Education by Hellman & Friedman LLC and merger with Datatel Inc.; provider of software, technology products and services to the higher education community.

TRONOX INC.: $550 million of new financing; Goldman Sachs; refinance term loan in connection with acquisition of Exxaro Resources Ltd.'s mineral sands operations; Oklahoma City-based producer and marketer of titanium dioxide pigment.

WESTERN DIGITAL CORP.: $3 billion senior unsecured credit facility; Bank of America; $500 million revolver; $2.5 billion five-year term loan; help fund acquisition of Hitachi Global Storage Technologies from Hitachi Ltd., refinance existing bank debt and for general corporate purposes; Irvine, Calif., designer and producer of hard drives and solid state drives.

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

ZAYO GROUP LLC: $295 million credit facility; RBC, Barclays and SunTrust; help fund acquisition of 360networks Holdings (USA) Inc.; Louisville, Colo., provider of telecom and internet infrastructure services.

© 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.