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 5/10/2011 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $62.517 billion deals being marketed

MAY BANK MEETINGS

API TECHNOLOGIES CORP.: Bank meeting May 12; $220 million credit facility; Morgan Stanley; $20 million revolver; $200 million term B; help fund acquisition of Spectrum Control Inc.; Ronkonkoma, N.Y., provider of secure communications, electronic components and subsystems, and contract manufacturing services to the defense and aerospace industries.

ASURION: Conference call May 12; $3.57 billion credit facility; Bank of America, Barclays, Credit Suisse, Morgan Stanley, Goldman Sachs and Deutsche Bank; $100 million five-year revolver; $2.48 billion seven-year first-lien term B; $990 million eight-year second-lien term loan; refinance existing debt; Nashville, Tenn., provider of technology protection services.

CUMULUS MEDIA INC.: Expected May/June business; $2.415 billion senior secured credit facility (Ba3); J.P. Morgan, UBS and Macquarie; $375 million revolver; $2.04 billion term loan; help fund acquisition of Citadel Broadcasting Corp. and refinance debt; Atlanta-based radio broadcaster.

ENDO PHARMACEUTICALS: Term B bank meeting expected May 16 week (revolver and term A launched May 5); $2.9 billion senior secured credit facility; Morgan Stanley and Bank of America; $500 million five-year revolver talked at Libor plus 250 bps, 50 bps unused fee; $1.5 billion five-year term A talked at Libor plus 250 bps; $900 million seven-year term B expected at Libor plus 325 bps, 1% Libor floor, 101 soft call for six months; help fund acquisition of American Medical Systems; Chadds Ford, Pa., specialty health care company.

EXOPACK HOLDINGS CORP.: Bank meeting May 11; $475 million credit facility; Bank of America and Goldman Sachs; $75 million five-year ABL revolver; $400 million six-year covenant-light term loan: refinance debt and fund a distribution to stockholders; Spartanburg, S.C., full-service paper and plastic flexible packaging products manufacturer.

GEO SPECIALTY CHEMICALS INC.: Small meetings May 11 and May 12; $100 million to $120 million term loan; Goldman Sachs; refinance existing debt and fund a potential acquisition; Lafayette, Ind., producer of specialty chemicals.

INFOGROUP INC.: Bank meeting May 12; $460 million credit facility; Bank of America; $50 million five-year revolver; $410 million seven-year term B; refinance existing debt and fund a dividend; Omaha, Neb., provider of data-driven and interactive resources for targeted sales, marketing and research services.

JBS USA: Bank meeting May 12; $400 million seven-year term loan B; J.P. Morgan; refinance existing debt; Greeley, Colo., animal protein processor.

PRE-PAID LEGAL SERVICES INC.: Bank meeting expected May 17; $440 million senior secured credit facility; Macquarie Capital, RBC, KeyBanc and Bank of Ireland; $30 million revolver; $410 million term loan; help fund buyout by MidOcean Partners; Ada, Okla., provider of legal service benefits through a network of independent law firms.

QUINTILES TRANSNATIONAL CORP.: $2.225 billion credit facility; J.P. Morgan, Barclays, Morgan Stanley, Citigroup and Wells Fargo; $225 million revolver due in 2016; $2 billion term B due in 2018; refinance existing debt; Durham, N.C., biopharmaceutical services company.

RURAL/METRO CORP.: Expected May/June business; $415 million senior secured credit facility; Credit Suisse, Citigroup and Jefferies; $315 million seven-year term loan; $100 million five-year revolver; help fund buyout by Warburg Pincus; Scottsdale, Ariz., provider of emergency and non-emergency ambulance services and private fire protection services.

SMART & FINAL INC.: Bank meeting May 12; $525 million credit facility; Credit Suisse and Deutsche Bank leading term loans, Bank of America leading revolver; $325 million seven-year covenant-light first-lien term loan talked at Libor plus 500 bps, 1.25% Libor floor, OID 99, 101 soft call; $75 million 71/2-year covenant-light second-lien term loan talked at Libor plus 875 bps, 1.25% floor, OID 981/2, call protection 103, 102, 101; $125 million ABL revolver; refinance existing debt and pay a dividend; Commerce, Calif., operator of food and restaurant supplies stores.

SRA INTERNATIONAL INC.: Expected May/June business; $975 million senior secured credit facility; Citigroup, Bank of America and Goldman Sachs; $100 million revolver expected at Libor plus 325 bps; $875 million term loan expected at Libor plus 325 bps, 1.25% Libor floor; help fund buyout by Providence Equity Partners; Fairfax, Va., provider of technology and strategic consulting services to government organizations and commercial clients.

SYMPHONYIRI GROUP INC.: Bank meeting May 11; $450 million credit facility (B1/B+); Bank of America, Jefferies and BMO; $50 million five-year revolver; $400 million 61/2-year covenant-light term loan B; helpf fund buyout by New Mountain Capital LLC and management; Chicago-based provider of sales and marketing data and analytic solutions for customers in the consumer packaged goods and consumer health industries.

YRC WORLDWIDE INC.: Bank meeting expected May 16; $400 million three-year asset-based revolver; Morgan Stanley; increase liquidity and refinance an asset-backed securitization facility; Overland Park, Kan., transportation service provider.

UPCOMING CLOSINGS

ALLEN SYSTEMS GROUP INC.: $115 million term loan add-on (Ba2/BB-) talked at Libor plus 475 bps, 1.75% Libor floor, OID 99; Bank of America and KeyBanc; help fund acquisition of visionapp AG; Naples, Fla., enterprise software provider.

ALLIANCE DATA SYSTEMS CORP.: $1.5 billion five-year credit facility; SunTrust; $750 million term A talked at Libor plus 225 bps; $750 million revolver talked at Libor plus 225 bps; refinance debt; Dallas-based provider of loyalty and marketing services.

ASSET ACCEPTANCE CAPITAL CORP. $275 million credit facility (B1/BB+); J.P. Morgan; $175 million six-year term B talked at Libor plus 400 to 425 bps, 1.5% Libor floor, OID 99, 101 soft call; $100 million revolver; refinance existing credit facility; Warren, Mich., purchaser and collector of defaulted or charged-off accounts receivable portfolios from consumer credit originators.

AUCTION.COM: $120 million five-year credit facility; SunTrust; $10 million revolver talked at Libor plus 450 bps to 500 bps, 1.5% Libor floor, OID 99 to 991/2; $110 million term loan talked at Libor plus 450 bps to 500 bps, 1.5% Libor floor, OID 99 to 991/2; refinance existing debt and fund a dividend; Irvine, Calif., real estate auction firm.

BAKERCORP: $435 million credit facility; Deutsche Bank and Morgan Stanley; $390 million seven-year covenant-light term B, 1.25% Libor floor, 101 soft call; $45 million revolver; help fund buyout by Permira funds; Seal Beach, Calif., provider of equipment rental services for liquid and solid containment applications.

BCBG MAX AZRIA GROUP: $230 million term loan (B2/B-) talked at Libor plus 875 bps, no Libor floor, OID 96, call protection 102, 101; Goldman Sachs, Bank of America, UBS and Guggenheim; refinance existing debt; Vernon, Calif., designer, retailer and distributor of women's apparel and accessories.

CELLULAR ONE: $180 million senior secured credit facility (B2/B); Barclays; $5 million five-year revolver; $175 million seven-year term B talked at Libor plus 500 bps, 1.5% Libor floor, OID 99, 101 soft call; refinance existing debt, redeem preferred equity and fund a dividend; Wayne, Pa., provider of wireless phone services.

CHRYSLER GROUP LLC: $5 billion senior secured credit facility (Ba2/B+); Morgan Stanley (left lead on term loan), Citigroup (left lead on revolver), Goldman Sachs and Bank of America; $3.5 billion six-year term loan talked at Libor plus 400 bps to 425 bps, 1.25% Libor floor, OID 99 to 991/2, 101 soft call; $1.5 billion five-year revolver; help repay loans from the U.S. Department of the Treasury and the Canadian federal and Ontario governments; Auburn Hills, Mich., producer of vehicles and products.

CITCO GROUP OF COS.: $490 million seven-year term loan at Libor plus 425 bps, 1.25% Libor floor, OID 991/2; UBS and Deutsche Bank; refinance existing debt; provider of financial services.

DAVE & BUSTER'S INC.: $148.5 million covenant-light term B talked at Libor plus 400 bps, 1.5% Libor floor, par, soft call 102, 101; J.P. Morgan; refinance existing debt; Dallas-based operator of entertainment/dining complexes.

DELPHI CORP.: Up to $2.525 billion credit facility (Baa3); J.P. Morgan; $1.15 billion six-year term B at Libor plus 250 bps, 1% Libor floor, OID 993/4, 101 soft call for six months; $250 million to $275 million five-year term A; $1.02 billion to $1.1 billion five-year revolver; help fund stock repurchases; Troy, Mich., automotive electronics manufacturer.

DUNKIN' BRANDS GROUP INC.: $100 million term loan (B) due Nov. 23, 2017 talked at Libor plus 300 bps, 1.25% Libor floor, par; Barclays; help repay notes; Canton, Mass., parent company of Dunkin' Donuts, a coffee and baked goods restaurant chain, and Baskin-Robbins, an ice cream specialty store chain.

EMERGENCY MEDICAL SERVICES CORP.: $1.79 billion credit facility; Deutsche Bank, Barclays, Bank of America, Morgan Stanley, RBC, UBS, Natixis and Citigroup; $350 million ABL revolver at Libor plus 250 bps; $1.44 billion term B (B1/B+) at Libor plus 375 bps, 1.5% Libor floor, OID 991/2, 101 soft call; help fund buyout by Clayton, Dubilier & Rice LLC; Greenwood Village, Colo.-based provider of emergency medical services.

EPICOR SOFTWARE CORP.: Expected close May 13; $945 million senior secured credit facility (Ba3/B+); Bank of America and RBC; $75 million five-year revolver talked at Libor plus 375 bps, 75 bps unused fee; $870 million seven-year covenant-light term loan talked at Libor plus 375 bps, 1.25% Libor floor, OID 99 to 991/2; help fund the purchase of Epicor and Activant Services Inc. by Apax Partners; provider of enterprise applications focused on the manufacturing, distribution, services and retail sectors.

FIFTH THIRD PROCESSING SOLUTIONS LLC: $1.771 billion in first-lien term loans; Goldman Sachs, J.P. Morgan and Fifth Third; $1.621 billion term loan B-1 due November 2016 talked at Libor plus 325 bps to 350 bps, 1.25% Libor floor, par, 101 soft call; $150 million term loan B-2 due November 2017 at Libor plus 350 bps, 1.5% Libor floor, par, 101 soft call; reprice existing first-lien loan and repay second-lien loan; Cincinnati-based provider of payment transaction processing and acceptance services.

GREEN VALLEY RANCH RESORTS SPA CASINO: $310 million credit facility; Jefferies and Goldman Sachs; $215 million five-year first-lien term loan (B2) talked at Libor plus 475 bps, 1.5% Libor floor, OID 99, 101 soft call; $85 million six-year second-lien term loan (Caa2) talked at Libor plus 850 bps, 1.5% floor, OID 98, non-call two, 101; $10 million revolver (B2); help finance the purchase of Green Valley Ranch Resorts by Station Casinos; Henderson, Nev., gaming and lodging company.

GTA TELEGUAM: $146.5 million credit facility; BNP Paribas; $10 million revolver; $107.5 million first-lien term loan at Libor plus 400, 1.5% Libor floor, OID 991/2; $29 million second-lien term loan at Libor plus 800 bps, 1.75% Libor floor, OID 99, call protection 102, 101; help fund buyout by Advantage Partners from Shamrock Capital Advisors; Tamuning, Guam, provider of communications services.

GUNDLE/SLT ENVIRONMENTAL INC.: Up to $210 million credit facility; Jefferies and GE Capital; $40 million to $45 million revolver (B3/B-) talked at Libor plus 525 bps to 550 bps, 1.5% Libor floor, OID 99; $125 million first-lien term loan (B3/B-) talked at Libor plus 525 bps to 550 bps, 1.5% Libor floor, OID 99, 101 soft call; $40 million second-lien term loan (Caa1/CCC+) talked at Libor plus 875 bps to 900 bps, 1.5% Libor floor, OID 98, call protection 102, 101; refinance existing ABL credit facility debt and notes; Houston-based manufacturer and marketer of geosynthetic lining products and services.

HELM FINANCIAL CORP.: $170 million credit facility; Credit Suisse and Guggenheim; $50 million five-year revolver; $120 million term loan talked at Libor plus 550 bps, 1.25% Libor floor, OID 99; refinance existing debt; San Francisco-based rail equipment lessor.

HOUGHTON MIFFLIN HARCOURT PUBLISHERS INC.: $250 million incremental term loan (Caa1/NA/B) due May 2017 talked at Libor plus 525 bps, 1.25% Libor floor, OID 99; J.P. Morgan, Citigroup, Credit Suisse and Wells Fargo; repay existing term debt; Boston-based educational publisher.

KAR AUCTION SERVICES INC.: $1.75 billion senior secured credit facility (Ba3/BB-); J.P. Morgan, Goldman Sachs, Barclays and Deutsche Bank; $1.5 billion term B talked at Libor plus 375 bps to 400 bps, 1.25% Libor floor, OID 99 to 991/2; $250 million revolver; refinance existing bank debt and notes; Carmel, Ind., provider of wholesale used vehicle auctions.

KINDRED HEALTHCARE INC.: $1.3 billion senior secured credit facility; J.P. Morgan, Morgan Stanley and Citigroup; $600 million five-year asset-based revolver at Libor plus 250 bps; $700 million seven-year term B (Ba3/B+) at Libor plus 375 bps, 1.5% Libor floor, OID 99, 101 soft call; help fund acquisition of RehabCare Group Inc.; Louisville, Ky., health care services company.

LABELCORP: $275 million credit facility; Bank of America and Deutsche Bank; $25 million five-year revolver (Ba3/B+); $150 million six-year first-lien term B (Ba3/B+) talked at Libor plus 450 bps to 475 bps, 1.5% Libor floor, OID 99, 101 soft call; $100 million 61/2-year second-lien term loan (Caa1/CCC+) talked at Libor plus 850 bps, 1.5% to 1.75% Libor floor, OID 981/2, call protection 103, 102, 101; refinance existing debt; Omaha, Neb., provider of labeling technologies to consumer goods, wine & spirits, pharmaceutical and food & beverage companies.

LANDRY'S GOLDEN NUGGET ATLANTIC CITY: $65 million senior secured credit facility; Jefferies; $10 million 41/2-year first-out revolver talked at Libor plus 850 bps, 1.5% Libor floor, OID 96; $55 million five-year last-out term loan talked at Libor plus 850 bps, 1.5% Libor floor, OID 96, non-call till July 1, 2012, then 106 for six months, 102 for and year, 101 for a year; help fund purchase, renovation and rebranding of the Trump Marina Hotel and Casino in Atlantic City by Tilman J. Fertitta; Atlantic City, N.J., hotel and casino.

LEGENDARY PICTURES: $700 million credit facility; J.P. Morgan; $500 million revolver; $200 million six-year term B talked at Libor plus 450 bps, 1.5% Libor floor, OID 99; refinance existing debt; Burbank, Calif., film production company.

MANITOWOC CO. INC.: $1.25 billion senior secured credit facility (Ba2/BB); J.P. Morgan, Deutsche Bank, Bank of America and Wells Fargo; $500 million five-year revolver; $350 million five-year term A at Libor plus 300 bps; $400 million 61/2-year term B at Libor plus 300 bps, 1.25% Libor floor, OID 991/2, 101 soft call; refinance existing credit facility; Manitowoc, Wis., manufacturer and seller of cranes and related products and foodservice equipment.

METALDYNE LLC: $355 million six-year term B (B1/B+) talked at Libor plus 400 bps, 1.25% Libor floor, par, 101 soft call for six months; Deutsche Bank; refinance existing debt, general corporate purposes and potential shareholder actions; Plymouth, Mich., designer and supplier of metal-formed components and assemblies for engine and transmission applications.

MONEYGRAM INTERNATIONAL INC.: $540 million senior secured credit facility (Ba1/BB-); Bank of America, J.P. Morgan, Citigroup, Deutsche Bank and Wells Fargo; $150 million five-year revolver at Libor plus 325 bps, 50 bps unused fee; $390 million six-year term loan at Libor plus 325 bps, 1.25% Libor floor, OID 993/4, 101 soft call; help fund recapitalization; Dallas-based payment services company.

NEIMAN MARCUS GROUP INC. $2.76 billion amended and restated senior secured credit facility; Credit Suisse, J.P. Morgan, Bank of America, Wells Fargo and Barclays; $2.06 billion seven-year term B (B2/BB-) at Libor plus 350 bps, 1.25% Libor floor, OID 993/4, 101 soft call; $700 million five-year ABL talked at Libor plus 225 bps, 37.5 bps unused fee; refinance existing bank debt and redeem notes; Dallas-based high-end specialty retailer.

NIELSEN & BAINBRIDGE LLC: $92 million senior secured credit facility; PNC; $25 million revolver talked at Libor plus 550 bps, 1.5% Libor floor, OID 981/2; $67 million term loan talked at Libor plus 550 bps, 1.5% Libor floor, OID 981/2; acquisition financing; Paramus, N.J., producer of picture framing products.

ONELINK COMMUNICATIONS: $520 million credit facility; Citigroup (left lead on first-lien), J.P. Morgan (left lead on second-lien), Credit Suisse and Morgan Stanley; $25 million five-year revolver (B2/B+); $345 million six-year first-lien term loan (B2/B+) talked at Libor plus 375 bps to 400 bps, 1.25% Libor floor, OID 991/2, 101 soft call; $150 million seven-year second-lien term loan (Caa2/CCC+) talked at Libor plus 650 bps to 700 bps, 1.5% Libor floor, OID 99, call protection 102, 101; refinance existing debt and fund a dividend; provider of cable services in the San Juan area in Puerto Rico.

OWENS-ILLINOIS GROUP INC.: $2 billion credit facility (Baa2/NA/BBB-); Deutsche Bank, Bank of America, J.P. Morgan, Citigroup, Scotia Capital and BNP Paribas; $900 million multi-currency revolver talked at Libor plus 175 bps, 37.5 bps commitment fee; $1.1 billion term A ($600 million, €200 million, C$120 million, A$180 million) talked at Libor plus 175 bps; refinance debt; Perrysburg, Ohio, glass container maker.

PAETEC HOLDING CORP.: $225 million senior secured credit facility (Ba3/B); Bank of America; $125 million five-year revolver; $100 million seven-year term B at Libor plus 350 bps, 1.5% Libor floor, OID 993/4, 101 soft call; fund acquisition of XETA Technologies Inc. and repay revolver debt; Fairport, N.Y., provider of business communications.

POTTERS INDUSTRIES INC.: $302.5 million credit facility; J.P. Morgan; $40 million five-year revolver (Ba3/B); $150 million six-year first-lien term loan (Ba3/B) at Libor plus 450 bps, 1.5% Libor floor, OID 99, 101 soft call; $112.5 million 61/2-year second-lien term loan (Caa1/CCC+) at Libor plus 850 bps, 1.75% Libor floor, OID 981/2, call protection 104, 103, 102, 101; in connection with spin-off from PQ Corp. to repay some of PQ's bank debt; Malvern, Pa., producer of engineered glass materials.

RAYCOM MEDIA INC.: $700 million credit facility; Wells Fargo and GE Capital; $200 million five-year revolver talked at Libor plus 275 bps; $300 million five-year term A talked at Libor plus 275 bps; $200 million six-year term B talked at Libor plus 325 bps, 1.25% Libor floor, OID 99; refinance existing debt; Montgomery, Ala., broadcaster and owner and operator of television stations.

REDFLEX HOLDINGS LTD.: $215 million credit facility (Ba3/B); Macquarie; $20 million revolver at Libor plus 550 bps, 1.5% Libor floor, OID 981/2; $175 million term B at Libor plus 550 bps, 1.5% Libor floor, OID 981/2, 101 soft call; $20 million delayed-draw term loan for capital expenditures at Libor plus 550 bps, 1.5% Libor floor, OID 981/2; also $75 million second-lien term loan that has been placed already; help fund buyout by the Carlyle Group and Macquarie Group Ltd.; South Melbourne, Australia, manufacturer and operator of highway safety equipment.

RENTECH ENERGY MIDWEST CORP.: $170 million six-year term loan talked at Libor plus 650 bps, 1.5% Libor floor, OID 98, call protection 102, 101; Credit Suisse; refinance existing bank debt and fund a dividend; East Dubuque, Ill., manufacturer and seller of nitrogen fertilizer products.

RESTAURANT TECHNOLOGIES INC.: New credit facility; BNP and GE Capital; help fund buyout by EQT Infrastructure from Parthenon Capital Partners and ABS Capital Partners; Minneapolis-based provider of cooking oil management services to the foodservice industry.

REVLON CONSUMER PRODUCTS CORP.: $800 million 61/2-year term loan (Ba3) talked at Libor plus 350 bps, 1.5% Libor floor, OID 991/2, 101 soft call; Citigroup, J.P. Morgan, Bank of America, Credit Suisse, Wells Fargo and Natixis; refinance existing term loan; New York-based cosmetics, hair color, beauty tools, fragrances, skincare, anti-perspirants/deodorants and beauty care products company.

ROCK-TENN CO.: $3.7 billion senior credit facility; Wells Fargo, SunTrust, Rabobank, Bank of America and J.P. Morgan; $1.475 billion five-year revolver at Libor plus 200 bps; $1.475 billion five-year term A at Libor plus 200 bps; $750 million seven-year term B at Libor plus 275 bps, 0.75% Libor floor, par; help fund acquisition of Smurfit-Stone Container Corp. and refinance debt; Norcross, Ga., manufacturer of paperboard, containerboard and consumer and corrugated packaging.

SECURUS TECHNOLOGIES: $365 million credit facility; BNP Paribas and GE Capital; $35 million revolver (B+); $233 million first-lien term B (B+) talked at Libor plus 425 bps, 1.5% Libor floor, OID 99; $97 million second-lien term loan (CCC+) talked at Libor plus 825 bps, 1.75% Libor floor, OID 98, call protection 103, 102, 101; help fund buyout by Castle Harlan from H.I.G. Capital; Dallas-based provider of specialized telecommunications products and services for the corrections communications marketplace.

SELECT MEDICAL CORP.: $1.5 billion credit facility (B1); J.P. Morgan, Goldman Sachs, Bank of America, Morgan Stanley, Wells Fargo and RBC; $1.2 billion term B talked at Libor plus 375 bps, 1.5% Libor floor, OID 99, 101 soft call; $300 million revolver; refinance debt, including notes; Mechanicsburg, Pa., operator of specialty hospitals and outpatient rehabilitation clinics.

SEMGROUP CORP.: $650 million credit facility (B1); RBS, Barclays, BNP and Citigroup; $350 million five-year revolver talked at Libor plus 325 bps, 50 bps unused fee; $100 million five-year term A talked at Libor plus 325 bps; $200 million seven-year term B talked at Libor plus 375 bps to 400 bps, 1.25% Libor floor, OID 991/2, 101 soft call; refinance existing debt; Tulsa, Okla., midstream service company.

SENSATA TECHNOLOGIES BV: $1.35 billion credit facility (Ba3/BB+); Morgan Stanley, Barclays, Goldman Sachs, BMO and RBC; $250 million five-year revolver; $1.1 billion seven-year covenant-light term B at Libor plus 300 bps, 1% Libor floor, OID 991/2, 101 soft call; refinance existing loans and bonds and for general corporate purposes; Attleboro, Mass., designer and manufacturer of sensors and controls.

SPANSION INC.: $250 million term loan (BB+) talked at Libor plus 350 bps to 375 bps, 1.25% Libor floor, 101 soft call; Morgan Stanley; repricing; Sunnyvale, Calif., semiconductor device company.

SPRINGLEAF FINANCIAL FUNDING CO.: $3.75 billion six-year senior secured term loan at Libor plus 425 bps, 1.25% Libor floor, OID 991/2, call protection 102, 101; Bank of America; refinance existing term loan; Evansville, Ind., provider of loans, retail financing and other credit-related products.

SPRINGS WINDOW FASHIONS LLC: $475 million credit facility; J.P. Morgan; $50 million five-year revolver (B1/B); $300 million six-year first-lien term loan (B1/B) talked at Libor plus 400 bps to 425 bps, 1.5% Libor floor, OID 99, 101 soft call; $125 million seven-year second-lien term loan (Caa1/CCC+) talked at Libor plus 775 bps to 800 bps, 1.5% to 1.75% floor, OID 981/2, call protection 103, 102, 101; refinance existing debt and fund a dividend; manufacturer of blinds, shades and drapery hardware.

STAR WEST GENERATION LLC: $750 million credit facility (Ba3/B+); Barclays, RBC and Citigroup; $650 million seven-year term B talked at Libor plus 375 bps to 400 bps, 1.5% Libor floor, OID 991/2, 101 soft call; $100 million five-year revolver talked at Libor plus 375 bps to 400 bps; help fund Highstar Capital's acquisition of the Arlington Valley and Griffith power generation plants located in Arizona from LS Power.

TARGUS GROUP INTERNATIONAL INC.: $245 million credit facility; Goldman Sachs and Bank of America;$60 million ABL revolver; $185 million five-year term loan (B2/B) talked at Libor plus 800 bps to 850 bps, 1.5% Libor floor, OID 98, call protection 103, 102, 101; refinance existing bank debt; Anaheim, Calif., maker of mobile accessories.

TERRA-GEN FINANCE CO. LLC: $360 million senior secured credit facility (Ba3/BB/BB-); Goldman Sachs and Credit Suisse; $60 million five-year revolver talked at Libor plus 400 bps, 1.25% Libor floor, OID 991/2; $300 million six-year term B talked at Libor plus 400 bps, 1.25% Libor floor, OID 991/2, 101 soft call; refinance existing debt, pay a dividend and fund a debt service reserve; New York-based renewable energy provider.

TWIN RIVER MANAGEMENT GROUP INC.: $285 million senior secured credit facility (B1/BB); Credit Suisse and Deutsche Bank; $25 million five-year revolver; $260 million 61/2-year term loan talked at Libor plus 400 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance existing debt; owner and operator of the Twin River casino located near Providence, R.I.

ULTERRA DRILLING TECHNOLOGIES: $97.5 million five-year credit facility (Caa1/B-); Jefferies; $15 million revolver talked at Libor plus 750 bps, 2% Libor floor, OID 98; $82.5 million term loan talked at Libor plus 750 bps, 2% Libor floor, OID 98, call protection 102, 101; refinance existing debt and for general corporate purposes; Fort Worth, Texas, oilfield service manufacturer of PDC drill bits and stick-slip reduction tools.

U.S. FOODSERVICE INC.: $425 million six-year covenant-light term loan B (B3/B-) at Libor plus 425 bps, 1.5% Libor floor, OID 99, 101 soft call; J.P. Morgan, Deutsche Bank, Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo; refinance debt; Columbia, Md., broadline foodservice distributor.

VALITAS HEALTH SERVICES INC.: $360 million senior secured credit facility (Ba3/B); Barclays and Bank of America; $285 million six-year term B talked at Libor plus 450 bps, 1.5% Libor floor, OID 99; $75 million five-year revolver; help fund acquisition of America Service Group Inc.; Brentwood, Tenn., provider of health care services to the incarcerated population.

VIRTUAL RADIOLOGIC: $296 million credit facility; GE Capital; $40 million revolver talked at Libor plus 500 bps, 1.5% Libor floor, OID 99; $256 million term loan talked at Libor plus 500 bps, 1.5% Libor floor, OID 99; dividend recapitalization; Eden Prairie, Minn., radiology practice and developer of radiologist workflow technology.

WALL STREET SYSTEMS: $350 million credit facility; Credit Suisse; $25 million five-year revolver (Ba3/B) talked at Libor plus 400 bps, 1.5% Libor floor; $200 million six-year first-lien term loan (Ba3/B) talked at Libor plus 400 bps, 1.5% Libor floor, OID 991/2; $125 million seven-year second-lien term loan (Caa1/B-) talked at Libor plus 750 bps, 1.5% Libor floor, OID 99, call protection 102, 101; help fund acquisition by ION Investment Group from Warburg Pincus; New York-based provider of treasury management, central banking and FX trade processing services.

WYLE SERVICES CORP.: $283 million term B (B1/BB) due 2017 at Libor plus 425 bps, step down to Libor plus 350 bps at B2/B corporate ratings, 1.5% Libor floor, OID 993/4, 101 soft call; Barclays; El Segundo, Calif., provider of high-tech systems engineering, testing and information technology services.

XERIUM TECHNOLOGIES INC.: $285 million credit facility (Ba2/BB-); Citigroup and Jefferies; $40 million revolver talked at Libor plus 425 bps to 450 bps, 1.5% Libor floor, OID 991/2; $120 million term loan talked at Libor plus 425 bps to 450 bps, 1.5% Libor floor, OID 991/2, 101 soft call; €87 million term loan talked at Euribor plus 450 bps to 475 bps, 1.5% floor, OID 991/2, 101 soft call; refinance existing debt; Raleigh, N.C., manufacturer of industrial textiles and rolls used primarily in the paper production process.

ON THE HORIZON

AES CORP.: Likely new term loan; Bank of America; help fund acquisition of DPL Inc.; Arlington, Va., generator and distributor of electricity.

ALKERMES INC.: $450 million term loan; Morgan Stanley and HSBC; help fund merger with Elan Drug Technologies to create Dublin, Ireland-based Alkermes plc; Waltham, Mass., biotechnology company.

ALPHA NATURAL RESOURCES INC.: $1.6 billion five-year senior secured credit facility; Citigroup and Morgan Stanley; $1 billion revolver expected at Libor plus 275 bps, 50 bps unused fee; $600 million term A expected at Libor plus 275 bps; help fund acquisition of Massey Energy Co. and refinance debt at both companies; Abingdon, Va., coal company.

AMC NETWORKS INC. (RAINBOW MEDIA HOLDINGS LLC): New credit facility; term loan; revolver; refinance existing debt in connection with spin-off from Cablevision Systems Corp.; holder of portfolio of programming assets.

ANIMAL HEALTH INTERNATIONAL INC.: $250 million senior secured credit facility; U.S. Bank; help fund acquisition by Lextron Inc.; Westlake, Texas, seller and distributor of animal health products, supplies, services and technology.

ARCH COAL INC.: $1.5 billion revolver; in connection with acquisition of International Coal Group Inc.; St. Louis-based coal producer.

CAPSUGEL: New credit facility; UBS, Barclays, Deutsche Bank, KKR Capital Markets and Mizuho; help fund buyout by Kohlberg Kravis Roberts & Co LP from Pfizer Inc.; Peapack, N.J.-based manufacturer of hard capsules and drug-delivery systems.

CHEFS' WAREHOUSE INC.: New senior secured credit facility; term loan; revolver; in connection with IPO; Ridgefield, Conn., distributor of specialty food products.

CKX INC.: New debt financing; Goldman Sachs; help fund buyout by Apollo Global Management; New York-based owner of entertainment content.

COSTAR GROUP INC.: $465 million credit facility; J.P. Morgan; $415 million seven-year term loan; $50 million five-year revolver; help fund acquisition of LoopNet Inc.; Washington, D.C.-based commercial real estate information company.

DUCOMMUN INC: $230 million senior secured credit facility; UBS and Credit Suisse; $190 million six-year covenant-light term loan expected at Libor plus 325 bps, or Libor plus 350 bps if corporate ratings are less than B1 or B+, 1.25% Libor floor, 101 soft call; $40 million five-year revolver expected at Libor plus 325 bps, or Libor plus 350 bps if corporate ratings are less than B1 or B+, 75 bps unused fee, 1.25% Libor floor; fund acquisition of LaBarge Inc. and refinance existing debt; Carson, Calif., provider of engineering and manufacturing services to the aerospace and defense industry.

GGC SOFTWARE HOLDINGS INC.: $1.115 billion senior secured credit facility; Credit Suisse, Bank of America, Morgan Stanley RBC and Deutsche Bank; $1.04 billion term loan; $75 million revolver; help fund acquisition of Lawson Software Inc. by Golden Gate Capital and Infor Global Services; St. Paul, Minn., enterprise software developer.

HUSKY INTERNATIONAL LTD.: New credit facility; Goldman Sachs, Morgan Stanley, RBC and TD Securities; help fund buyout by Berkshire Partners LLC and Omers Private Equity Inc. from Onex Corp.; Bolton, Ont., supplier of injection molding equipment and services to the plastics industry.

INC RESEARCH LLC: New debt financing; help fund purchase of Kendle International Inc.; Raleigh, N.C.-based therapeutically focused contract research organization.

LEVEL 3 FINANCING INC.: $650 million six-year senior secured covenant-light term loan B II expected at Libor plus 400 bps, 1.5% Libor floor, OID 99, 101 soft call; Bank of America and Citigroup; in connection with acquisition of Global Crossing Ltd.; Hamilton, Bermuda, provider of fiber-based communications services.

NORTHERN OFFSHORE LTD.: New credit facility; refinance existing line of credit; Hamilton, Bermuda-based operator of offshore oil and gas production and drilling vessels and provider of rig management services.

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.

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

NRG ENERGY INC.: $3.9 billion credit facility (Baa3); $2.3 billion revolver; $1.6 billion seven-year term B; refinance existing bank debt; Princeton, N.J., power generation company.

SHOPZILLA INC.: New senior secured financing; Wells Fargo; help fund buyout by Symphony Technology Group from Scripps Networks Interactive Inc.; expected close on or around May 31; owner and operator of a portfolio of online consumer shopping properties.

SILGAN HOLDINGS INC.: $4 billion senior secured credit facility; Bank of America; $800 million five-year revolver expected at Libor plus 250 bps; $900 million six-year term A expected at Libor plus 250 bps; $2.3 billion seven-year term B expected at Libor plus 325 bps, 1% Libor floor, 101 soft call; help fund acquisition of Graham Packaging Co. Inc.; Stamford, Conn., manufacturer of consumer goods packaging products.

SMART MODULAR TECHNOLOGIES INC.: $350 million credit facility; J.P. Morgan and UBS; $300 million first-lien term loan; $50 million first-lien first-out revolver; help fund buyout by Silver Lake Partners and Silver Lake Sumeru; Newark, Calif., manufacturer of memory modules and solid state storage products.

STAFFMARK HOLDINGS INC.: $125 million five-year secured revolver at Libor plus 200 bps to 250 bps; SunTrust; in connection with IPO; refinance existing facility; Cincinnati-based provider of light industrial, clerical and specialty temporary staffing.

WALTER INVESTMENT MANAGEMENT CORP.: $810 million senior secured credit facility; Credit Suisse, RBS and Bank of America; $45 million five-year revolver expected at Libor plus 525 bps, 75 bps unused fee, 1.5% Libor floor; $500 million five-year first-lien term loan expected at Libor plus 525 bps, 1.5% Libor floor, OID 99, 101 soft call; $265 million 51/2-year second-lien term loan expected at Libor plus 900 bps, 1.5% Libor floor, OID 98, non-call one, 103, 102, 101; help fund acquisition of GTCS Holdings LLC; Tampa, Fla.-based asset manager, mortgage servicer and mortgage portfolio owner.

WESTERN DIGITAL CORP.: $2.5 billion senior unsecured credit facility; Bank of America; $500 million revolver; $2 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.

WPX ENERGY INC.: $1.5 billion five-year senior unsecured credit facility; in connection with IPO; Tulsa, Okla., natural gas and oil exploration and production 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.