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 2/17/2011 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $49.1893 billion deals being marketed

FEBRUARY BANK MEETINGS

JO-ANN STORES INC.: Bank meeting expected Feb. 21 week; $1.025 billion senior secured credit facility; J.P. Morgan, Bank of America and Barclays; $650 million term loan; $375 million ABL revolver; help fund buyout by Leonard Green & Partners LP; Hudson, Ohio, specialty retailer of fabrics and crafts.

TRAVELCLICK INC.: Bank meeting Feb. 23; $230 million senior secured credit facility; BMO; $20 million revolver guided at Libor plus 450 bps; $160 million term loan guided at Libor plus 450 bps, 1.5% Libor floor, OID 99; $50 million delayed-draw term loan guided at Libor plus 450 bps, 1.5% Libor floor, OID 99; refinance existing debt and fund an acquisition; Schaumburg, Ill., provider of online bookings to hotels.

MARCH BANK MEETINGS

SURGERY CENTER HOLDINGS INC.: $250 million senior secured credit facility; Jefferies; $230 million 53/4-year term loan expected at Libor plus 525 bps, 1.75% Libor floor; $20 million five-year revolver expected at Libor plus 525 bps, 1.75% Libor floor, 50 bps unused fee; help fund acquisition of NovaMed Inc.; Tampa, Fla., acquirer, developer and manager of free-standing ambulatory surgical centers.

UPCOMING CLOSINGS

ACCENTCARE INC.: $205 million senior secured credit facility; GE Capital, Bank of Ireland and CIT; $25 million revolver talked at Libor plus 500 bps, 1.5% Libor floor, OID 981/2; $180 million term loan talked at Libor plus 500 bps, 1.5% Libor floor, OID 981/2; help fund buyout by Oak Hill Capital Partners and merger with Guardian Home Care Holdings Inc.; Irvine, Calif., provider of home health care services.

ACOSTA SALES & MARKETING: $1.075 billion credit facility (B+); Goldman Sachs and Barclays; $90 million revolver; $985 million term loan at Libor plus 325 bps, 1.5% Libor floor, par, 101 soft call; help fund buyout by Thomas H. Lee Partners from AEA Investors; Jacksonville, Fla., sales and marketing agency in the consumer packaged goods industry.

AFFORDABLE CARE INC.: $155 million senior credit facility; GE Capital, NXT Capital and Golub Capital; $10 million revolver at Libor plus 500 bps, 1.5% Libor floor, OID 981/2; $145 million term loan at Libor plus 500 bps, 1.5% Libor floor, OID 981/2; refinance existing debt and pay a dividend; Kinston, N.C., provider of practice management services and on-site denture laboratories.

ALLEGIANT TRAVEL CO.: $125 million term loan (Ba3/BB-) talked at Libor plus 425 bps, 1.75% Libor floor, OID 99, 101 soft call; Citadel Securities; for general corporate purposes, including to fund capital expenditures; Las Vegas-based all-jet passenger airline company.

ARROWHEAD GENERAL INSURANCE AGENCY INC.: $172 million senior secured credit facility; RBC and Macquarie; $15 million five-year revolver (B3/B-) talked at Libor plus 575 bps, 1.75% Libor floor, 75 bps unused fee; $115 million six-year first-lien term loan (B3/B-) talked at Libor plus 575 bps, 1.75% Libor floor, OID 98; $42 million seven-year second-lien term loan (Caa1/CCC) talked at Libor plus 950 bps, 1.75% Libor floor, OID 97, call protection 103, 102, 101; refinance an existing first- and second-lien credit facility; San Diego-based national insurance program manager.

ATTACHMATE CORP.: $1.19 billion senior secured credit facility; Credit Suisse, RBC, Goldman Sachs and Citadel; $40 million five-year revolver (B1/BB-); $875 million six-year first-lien term loan (B1/BB-) at Libor plus 500 bps, 1.5% Libor floor, OID 99; $275 million 6 1/2-year second-lien term loan at Libor plus 800 bps, 1.5% Libor floor, OID 99, call protection 103, 102, 101; help fund acquisition of Novell Inc.; Seattle-based provider of access and integration software for legacy systems.

AVG TECHNOLOGIES: $235 million five-year term loan (B1/B+) talked at Libor plus 475 bps to 500 bps, 1.5% Libor floor, OID 99; J.P. Morgan; fund a dividend; Chelmsford, Mass., security software maker.

BROCK GROUP INC.: $700 million of term loans; J.P. Morgan, Credit Suisse and Bank of America; $490 million six-year first-lien term B talked at Libor plus 450 bps to 475 bps, 1.75% Libor floor, OID 99, 101 soft call; $210 million seven-year second-lien term loan talked at Libor plus 750 bps to 775 bps, 1.75% Libor floor, OID 981/2, call protection 103, 102, 101; refinance existing debt, fund a dividend and general corporate purposes; Houston-based provider of industrial specialty maintenance services, including painting, scaffolding and insulation.

BURLINGTON COAT FACTORY WAREHOUSE CORP.: $1 billion term loan (B3/B-/B-) talked at Libor plus 475 bps, 1.5% Libor floor, OID 99; J.P. Morgan, Goldman Sachs, Bank of America and Wells Fargo; refinance existing term loan and notes, pay a dividend and general corporate purposes; Burlington, N.J., discount retailer.

CAPITAL AUTOMOTIVE: $1.7 billion senior secured credit facility (Ba3/B+); Barclays; $200 million five-year revolver talked at Libor plus 350 bps, 1.5% Libor floor, 100 bps upfront fee; $1.5 billion six-year term B talked at Libor plus 350 bps, 1.5% Libor floor, OID 99; refinance existing debt; McLean, Va., provider of sale-leaseback capital to the automotive retail industry.

CARESTREAM HEALTH INC.: $2 billion credit facility (B1/BB-); Credit Suisse, Goldman Sachs and Bank of America; $150 million five-year revolver talked at Libor plus 350 bps, 50 bps unused fee, 1.5% Libor floor, OID 991/2; $1.85 billion six-year term B talked at Libor plus 350 bps, 1.5% Libor floor, OID 991/2; refinance existing first-and second-lien term loans and pay a dividend; Rochester, N.Y., provider of medical and dental imaging products and services.

CB RICHARD ELLIS GROUP INC.: $800 million of delayed-draw senior secured term loans (BB); Credit Suisse and Bank of America; $500 million delayed-draw seven-year term C talked at Libor plus 325 bps, no floor, OID 991/2; $300 million delayed-draw 81/2-year term D talked at Libor plus 350 bps, no floor, OID 991/2; help fund the acquisition of the real estate investment management business of ING Group NV; Los Angeles-based commercial real estate services firm.

CEDAR FAIR LP: $1.175 billion term loan (Ba2/BB-) talked at Libor plus 300 bps to 325 bps, 1.25% Libor floor, par; J.P. Morgan; refinance existing term loan; Sandusky, Ohio, regional amusement-resort operator.

DATATEL INC.: $460 million credit facility; Credit Suisse and BMO; $40 million five-year revolver (Ba3/B) at Libor plus 350 bps, 1.5% Libor floor; $270 million six-year term B (Ba3/B) at Libor plus 350 bps, step-down to Libor plus 325 bps at less than 5x leverage, 1.5% Libor floor, par; $150 million seven-year second-lien term loan (Caa1/CCC+) at Libor plus 725 bps, 1.5% floor, OID 991/2, call protection 103, 102, 101; refinance existing debt and fund a dividend; Fairfax, Va., provider of technology services and professional business services to higher education institutions.

DEL MONTE FOODS CO.: $3.45 billion senior secured credit facility; J.P. Morgan, Barclays, Morgan Stanley, Bank of America and KKR Capital Markets; $2.7 billion seven-year covenant-light term loan (Ba3/B+/BB) at Libor plus 300 bps, 1.5% Libor floor, OID 993/4, 101 soft call; $750 million five-year ABL revolver (NA/NA/BB); help fund buyout by Kohlberg Kravis Roberts & Co. LP, Vestar Capital Partners and Centerview Partners; San Francisco-based branded pet and consumer products company.

DENNY'S CORP.: $290 million credit facility; Bank of America and Wells Fargo; $240 million term B talked at Libor plus 375 bps, 1.5% Libor floor, par, 101 soft call; $50 million revolver talked at Libor plus 375 bps; reprice/refinance existing facility; Spartanburg, S.C., restaurant franchise operator.

DINEEQUITY INC.: $767 million bank deal; Barclays and Goldman Sachs; $742 million term B talked at Libor plus 300 bps, 1.25% Libor floor, par, 101 soft call; $25 million revolver add-on at Libor plus 450 bps, 1.5% Libor floor; refinance existing term B and general corporate purposes; Glendale, Calif., owner of Applebee's Neighborhood Grill & Bar and IHOP Restaurants.

EDWARDS LTD.: Roughly $695 million term loan (B+) due May 2016 at Libor plus 400 bps, step-down to Libor plus 375 bps at net secured leverage of 2x, 1.5% Libor floor, OID 991/2, 101 soft call; Deutsche Bank and J.P. Morgan; refinance existing debt and fund a dividend; Crawley, England, supplier of vacuum and abatement equipment and services.

ENCOMPASS DIGITAL MEDIA INC.: $195 million senior secured credit facility (B2/B+); Macquarie Capital; $175 million term loan at Libor plus 600 bps, 1.75% Libor floor, OID 98; $20 million revolver talked at Libor plus 600 bps, 1.75% Libor floor, OID 98; fund acquisition of the content distribution business of Ascent Media Corp.; Los Angeles-based digital media services provider.

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.

EVERTEC INC.: $404 million credit facility; Bank of America and Morgan Stanley; $354 million term B talked at plus 375 bps to 400 bps, 1.5% Libor floor, par, 101 soft call for six months; $50 million revolver; refinance existing facility; Puerto Rico-based provider of transaction processing, payment processing, merchant acquiring and other related services.

FAIRWAY MARKET LLC: $175 million credit facility; Credit Suisse, Bank of America and Jefferies; $25 million five-year revolver talked at Libor plus 700 bps, 1.5% Libor floor, OID 98; $150 million six-year term loan talked at Libor plus 700 bps, 1.5% Libor floor, OID 98; refinance existing facility and provide cash for future store expansion; supermarket chain with locations in New York, New Jersey and Connecticut.

FOCUS BRANDS INC.: $251.3 million term loan talked at Libor plus 425 bps to 450 bps, 1.5% Libor floor, par, 101 soft call; Credit Suisse; reprice existing term loan; Atlanta-based franchisor and operator of ice cream stores, bakeries, restaurants and cafes.

GENERAL NUTRITION CENTERS INC.: $1.18 billion credit facility (B1/B+); J.P. Morgan and Goldman Sachs; $80 million five-year revolver talked at Libor plus 350 bps, no Libor floor, OID 99; $1.1 billion seven-year term B talked at Libor plus 350 bps, 1.25% Libor floor, OID 991/2; refinance existing debt; Pittsburgh-based specialty retailer of nutritional products.

GLOBAL CASH ACCESS INC.: $235 million credit facility (B1/BB-); Deutsche Bank and Wells Fargo; $205 million term B at Libor plus 550 bps, 1.5% Libor floor, OID 991/2, 101 soft call; $30 million revolver; refinance existing debt; Las Vegas-based provider of cash access services to the gaming industry.

GRANDE COMMUNICATIONS: $185 million credit facility; Societe Generale and SunTrust; $20 million five-year revolver talked at Libor plus 400 bps; $165 million six-year term A talked at Libor plus 400 bps; refinance existing debt and fund a dividend; San Marcos, Texas, provider of high-speed internet, local and long-distance telephone and digital cable services.

HCR MANORCARE: $550 million credit facility (Ba3/B+); J.P. Morgan, Bank of America and Credit Suisse; $400 million term loan talked at Libor plus 375 bps, 1.5% Libor floor, OID 99; $150 million revolver; refinance existing bank debt; Toledo, Ohio, provider of short-term, post-acute services and long-term care.

HERTZ CORP.: $3.4 billion credit facility; Deutsche Bank, Wells Fargo, Barclays, Bank of America, Citigroup, Credit Agricole and J.P. Morgan; $1.35 billion seven-year covenant-light term B talked at Libor plus 300 bps, 1.25% Libor floor, OID 991/2, 101 soft call; $250 million seven-year synthetic letter of credit facility talked at Libor plus 300 bps, 1.25% Libor floor, OID 991/2; $1.8 billion ABL revolver; refinance existing debt; Park Ridge, N.J., auto and equipment rental company.

IGNITE RESTAURANT GROUP: $150 million senior secured credit facility; GE Capital and Golub Capital; $30 million revolver talked at Libor plus 475 bps, 1.5% Libor floor, OID 981/2; $120 million term loan talked at Libor plus 475 bps, 1.5% Libor floor, OID 981/2; refinance debt and fund dividend; Houston-based owner of Joe's Crab Shack and Brick House Tavern & Tap restaurants.

INSIGHT PHARMACEUTICALS CORP.: $81 million six-year senior credit facility; GE Capital; $10 million revolver talked at Libor plus 500 bps, 1.5% Libor floor, OID 981/2; $71 million term loan talked at Libor plus 500 bps, 1.5% Libor floor, OID 981/2; refinance existing bank debt and finance a tack-on acquisition; Langhorne, Pa., marketer and distributor of branded over the counter pharmaceutical products.

INTELLIGRATED INC.: $155 million credit facility (B2/B+); Bank of America and SunTrust; $30 million five-year revolver; $125 million six-year term B at Libor plus 575 bps, 1.75% Libor floor, OID 99, 101 call protection for two years; refinance second-lien loan and fund a dividend; Cincinnati-based provider of automated material handling systems.

J. CREW GROUP INC.: $1.45 billion senior secured credit facility; Bank of America and Goldman Sachs; $250 million five-year asset-based revolver expected at Libor plus 250 bps; $1.2 billion seven-year term loan (B1/B) at Libor plus 350 bps, step to Libor plus 325 bps at less than 3.25x net senior secured leverage, 1.25% Libor floor, par, 101 soft call for six months; help fund buyout by TPG Capital and Leonard Green & Partners LP; New York-based retailer of apparel, shoes and accessories.

JMC STEEL GROUP: $400 million six-year term loan talked at Libor plus 375 bps, 1.5% Libor floor, OID 99; help fund buyout by the Zekelman family from the Carlyle Group and refinance existing debt; Beachwood, Ohio, manufacturer of steel pipe and tubes.

KALISPEL TRIBAL ECONOMIC AUTHORITY: $210 million senior secured credit facility (B2/B+); Bank of America; $5 million revolver; $205 million six-year term B talked at Libor plus 575 bps, 1.75% Libor floor, OID 98, call protection 102, 101; refinance existing debt and fund capital spending; Airway Heights, Wash., economic development arm of the Kalispel Tribe of Indians.

KNOLOGY INC.: $720 million of term loans (B1); Credit Suisse; $545 million term B due August 2017 at Libor plus 300 bps, 1% Libor floor, par, 101 soft call; $175 million term A due February 2016 at Libor plus 300 bps, no floor, par; refinance existing term loans; West Point, Ga., provider of interactive communications and entertainment services.

K-SEA TRANSPORTATION PARTNERS LP: $250 million ABL revolver; UBS left lead; East Brunswick, N.J., coastwise tank barge operator.

LESLIE'S POOLMART INC.: $380 million credit facility; Bank of America and Wells Fargo; $70 million revolver; $310 million covenant-light term B talked at Libor plus 325 bps, 1.25% Libor floor, par; refinance existing debt; Phoenix-based retailer of swimming pool supplies and related products.

MICHAEL FOODS INC. $840 million term loan (B1) at Libor plus 300 bps, 1.25% Libor floor, par, 101 soft call for six months; Bank of America, Goldman Sachs and Barclays; refinance existing debt and fund a dividend; Minnetonka, Minn., producer and distributor of food products.

MICROSEMI CORP.: $350 million seven-year term B talked at Libor plus 300 bps, 1% Libor floor, par, 101 soft call; Morgan Stanley; reprice existing term loan B; Irvine, Calif., semiconductor manufacturer.

NBTY INC.: $1.9 billion credit facility (BB-); Barclays, Bank of America and Credit Suisse; $1.75 billion covenant-light term loan due Oct. 1, 2017 talked at Libor plus 325 bps, 1.5% Libor floor, par, 101 soft call for six months; $150 million revolver due Oct. 1, 2015 talked at Libor plus 325 bps, 1.5% Libor floor, par; reprice/refinance existing facility; Ronkonkoma, N.Y., manufacturer and marketer of nutritional supplements.

NDS FINANCE: $1.125 billion credit facility (Ba2/BB-); J.P. Morgan; $75 million revolver; $250 million euro equivalent six-year term A; $800 million seven-year term B; refinance existing debt; U.K.-based supplier of open end-to-end digital technology and services to digital pay-television platform operators and content providers.

NEXEO SOLUTIONS LLC: $840 million credit facility; Bank of America, Citigroup and Barclays; $300 million 61/2-year term B (B1/B) talked at Libor plus 375 bps area, 1.5% Libor floor, OID 991/2; $540 million ABL revolver talked at Libor plus 250 bps; help fund buyout by TPG Capital from Ashland Inc.; chemical distribution company.

PETCO ANIMAL SUPPLIES INC.: $1.225 billion covenant-light term loan talked at Libor plus 325 bps to 350 bps, 1.25% Libor floor, par, 101 soft call for six months; Credit Suisse, J.P. Morgan and Bank of America; reprice existing term loan; San Diego-based specialty retailer of pet food, supplies and services.

PHILLIPS-VAN HEUSEN CORP.: $1.315 billion U.S. credit facility (Ba2); Barclays, Deutsche Bank, Bank of America, Credit Suisse and RBC; $400 million term B at Libor plus 275 bps, 0.75% Libor floor, par; $275 million revolver at Libor plus 250 bps; $640 million term A at Libor plus 250 bps; also €260 million term B at Euribor plus 300 bps, 0.75% Libor floor, par; €132 million revolver at Euribor plus 275 bps; €87 million term A at Euribor plus 275 bps; refinance existing credit facility; New York-based apparel company.

PINNACLE SECURITY: $130 million term loan talked at Libor plus 650 bps, 1.5% Libor floor, OID 99; Bank of America; refinance existing debt; Orem, Utah, provider of residential and commercial security systems.

PLAYBOY ENTERPRISES INC.: $195 million credit facility (B2/B-); Jefferies; $10 million five-year revolver; $185 million six-year term loan at Libor plus 650 bps, 1.75% Libor floor, OID 98, non-call one, 102, 101; help fund buyout by Icon Acquisition Holdings LP; Chicago-based media and lifestyle company.

PRECISION ENGINEERED PRODUCTS LLC: $190 million credit facility (B1/BB-); KeyBanc Capital Markets; $30 million five-year revolver talked at Libor plus 450 bps, 1.5% Libor floor, OID 99; $160 million six-year term B talked at Libor plus 450 bps, 1.5% Libor floor, OID 99; fund buyout by the Jordan Co. and Nautic Partners; Attleboro, Mass., manufacturer of highly engineered precision metal and plastic components, materials and surface finishing technologies.

RBS INTERNATIONAL DIRECT MARKETING: $260 million credit facility; Bank of America and Fifth Third; $40 million revolver talked at Libor plus 375 bps; $75 million term A talked at Libor plus 375 bps; $145 million term B talked at Libor plus 475 bps, 1.5% Libor floor; refinance existing debt; direct marketing company.

REGAL CINEMAS CORP.: Roughly $1 billion term loan (Ba2/BB-) due August 2017 talked at Libor plus 325 bps, step-down to Libor plus 300 bps at less than 3x leverage, no Libor floor, par, 101 soft call; Credit Suisse; reprice and extend existing term loan; Knoxville, Tenn., motion picture exhibitor.

RESEARCH PHARMACEUTICAL SERVICES INC.: $115 million senior credit facility; GE Capital; $35 million five-year revolver talked at Libor plus 525 bps, 1.75% Libor floor, OID 981/4; $80 million six-year term loan talked at Libor plus 525 bps, 1.75% Libor floor, OID 981/4; help fund buyout by Warburg Pincus LLC; Fort Washington, Pa., provider of clinical development services to the pharmaceutical, biotechnology and medical device industries.

RITE AID CORP.: $343 million tranche 5 term loan (NA/NA/BB-) talked at Libor plus 325 bps, 1.5% Libor floor, OID 991/2, 101 soft call for six months; Citigroup, Bank of America, Credit Suisse, GE Capital and Wells Fargo refinance tranche 3 term loan; Camp Hill, Pa., drugstore chain.

SAVERS INC.: $500 million credit facility (Ba3/B+); J.P. Morgan; $40 million revolver; $460 million six-year term B at Libor plus 300 bps, step-down to Libor plus 275 bps at less than 2.75x leverage, 1.25% Libor floor, par; refinance existing debt and fund the acquisition of 18 stores from Apogee; Bellevue, Wash., thrift store chain.

SEDGWICK CLAIMS MANAGEMENT SERVICES INC.: $650 million amended and restated term B due Dec. 31, 2016 at Libor plus 350 bps, step-down to Libor plus 325 bps at less than 4.25x leverage, 1.5% Libor floor, par, 101 soft call for six months; Bank of America and Barclays; help fund the acquisition of Specialty Risk Services LLC from the Hartford Financial Services Group Inc. and refinance existing $ first-lien term B; Memphis, Tenn., provider of claims and productivity management services to corporate and institutional clients.

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.

SOLUTIA INC.: $700 million term B due August 2017 talked at Libor plus 275 bps, 1% Libor floor, par, 101 soft call for six months; Deutsche Bank; refinance existing term B; St. Louis-based performance materials and specialty chemicals company.

SPITZER INDUSTRIES INC.: $145 million credit facility; Credit Suisse leading term loan; $120 million six-year term loan (B2/B) talked at Libor plus 425 bps, 1.5% Libor floor, OID 991/2, 101 soft call protection; $25 million revolver (B2); refinance existing debt and fund a dividend; Houston-based fabricator of specialized equipment and systems, pressure vessels and other custom weldments that serve the oil and gas industry.

SUMMIT ENTERTAINMENT LLC: $800 million senior secured credit facility (B1/B); J.P. Morgan and UBS; $200 million five-year revolver; $600 million seven-year term loan talked at Libor plus 525 bps to 550 bps, 1.5% Libor floor, OID 981/2; repay existing debt, working capital and general corporate purposes and fund a dividend; Santa Monica, Calif., independent film studio.

TESORO CORP.: $1.85 billion ABL revolver talked at Libor plus 200 bps; J.P. Morgan and RBS; refinance existing debt; San Antonio-based petroleum refiner.

UNIVAR INC.: $1.98 billion term loan due June 2017 talked at Libor plus 350 bps, 1.5% Libor floor, par, 101 soft call; Bank of America; refinance term loans and repay revolver borrowings; Redmond, Wash., chemical distributor.

U.S. TELEPACIFIC: $460 million credit facility (B3/B-); Credit Suisse, Deutsche Bank and Bank of America; $25 million five-year revolver; $435 million six-year term loan at Libor plus 450 bps, 1.25% Libor floor, par, 101 soft call protection; refinance existing debt; Los Angeles-based competitive local exchange carrier.

VANTAGE ONCOLOGY INC.: $246 million senior secured credit facility (B); Jefferies and SunTrust; $25 million five-year revolver; $221 million six-year term B talked at Libor plus 525 bps, 1.75% Libor floor, OID 981/2; help fund buyout by Oak Hill Capital Partners and its portfolio company, Physicians Oncology Services LP; Manhattan Beach, Calif., owner and operator of radiation oncology centers.

VISANT CORP.: $1.25 billion senior secured term loan talked at Libor plus 400 bps, 1.25% Libor floor, par, 101 soft call through September 2011; Credit Suisse left lead; reprice existing term loan; Armonk, N.Y., marketing and publishing services enterprise.

WALTER ENERGY INC.: $2.725 billion senior secured credit facility (B1/BB-); Morgan Stanley, Credit Agricole, Bank of Nova Scotia and Union Bank; $375 million five-year revolver at Libor plus 300 bps; $950 million five-year term A at Libor plus 300 bps, par; $1.4 billion seven-year term B at Libor plus 300 bps, step-down to Libor plus 275 bps based on leverage, 1% Libor floor, par; help fund acquisition of Western Coal, refinance debt and for working capital; Tampa, Fla., producer and exporter of metallurgical coal for the steel industry.

ON THE HORIZON

ALPHA NATURAL RESOURCES INC.: New debt financing; Morgan Stanley and Citigroup; includes $1 billion revolver; help fund acquisition of Massey Energy Co. and refinance debt at both companies; Abingdon, Va., coal company.

AUDIOVOX CORP.: New asset-based revolver; Wells Fargo; help fund acquisition of Klipsch Group Inc.; Hauppauge, N.Y., marketer of mobile and consumer electronics products and accessories.

EMERGENCY MEDICAL SERVICES CORP.: New debt financing; Barclays, Deutsche Bank, Bank of America, Morgan Stanley, RBC and UBS; help fund buyout by Clayton, Dubilier & Rice LLC; Greenwood Village, Colo.-based provider of emergency medical services.

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

HUBBARD BROADCASTING INC.: New credit facility; Morgan Stanley and Goldman Sachs; help fund acquisition of 17 radio stations from Bonneville International Corp.; St. Paul, Minn., television and radio broadcasting company.

HUNTINGTON INGALLS INDUSTRIES INC.: New credit facility (Baa3/BB+); revolver; term loan; help fund spinoff from Northrop Grumman Corp.; designer, builder and repairer of ships.

KINDRED HEALTHCARE INC.: $1.3 billion senior secured credit facility; J.P. Morgan, Morgan Stanley and Citigroup; $600 million five-year asset-based revolver; $700 million seven-year term loan; help fund acquisition of RehabCare Group Inc. and refinance existing debt; Louisville, Ky., healthcare services company.

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.

PRE-PAID LEGAL SERVICES INC.: $440 million senior secured credit facility; $30 million revolver; $410 million term loan; Macquarie Capital; help fund buyout by MidOcean Partners; Ada, Okla., provider of legal service benefits through a network of independent law firms.

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.

ROCK-TENN CO.: $3.7 billion senior credit facility; Wells Fargo, SunTrust and Rabobank; $1.2 billion five-year revolver; $1.25 billion five-year term A; $1.25 billion six-year term B; help fund acquisition of Smurfit-Stone Container Corp. and refinance debt; Norcross, Ga., manufacturer of paperboard, containerboard and consumer and corrugated packaging.

SEVAN DRILLING AS: $480 million senior debt facility; DVB Group Merchant Bank, 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 owner, operator, developer and acquirer of crude oil and refined products logistics assets.

THERMACLIME: $75 million five-year term loan; Bank of America; repay existing term loan and for working capital; Oklahoma City-based manufacturer and seller of climate control and chemical products that is a subsidiary of LSB Industries Inc.

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.