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 11/15/2012 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $40.8511 billion deals being marketed

November Bank Meetings

SAFWAY SERVICES LLC: $645 million credit facility; Goldman Sachs, Wells Fargo, Morgan Stanley and Barclays; $250 million five-year ABL revolver; $395 million seven-year covenant-light term B; refinance existing debt; Waukesha, Wis., provider of scaffolding and access services for commercial construction, industrial and infrastructure applications.

TRANSFIRST LLC: Bank meeting Nov. 19; new credit facility; Bank of America and Deutsche Bank; first-lien term loan; second-lien term loans; refinance existing debt, fund a dividend and redeem equity; Hauppauge, N.Y., provider of transaction processing services and payment-enabling technologies.

Upcoming Closings

ALLIEDBARTON SECURITY HOLDINGS LLC: $100 million add-on first-lien term loan (Ba3) due February 2017 talked at Libor plus 400 bps, 1.25% Libor floor, OID 99, 101 soft call; Credit Suisse; fund a dividend and refinance existing debt; security officer services company.

ALON USA ENERGY INC.: $450 million six-year first-lien covenant-light secured term loan (B2/B+) at Libor plus 875 bps, 1.25% Libor floor, OID 95, non-call one, 102, 101; Credit Suisse and Goldman Sachs; refinance an existing term loan and general corporate purposes; Dallas-based refiner and marketer of petroleum products.

ALTISOURCE PORTFOLIO SOLUTIONS SA: $200 million seven-year covenant-light senior secured term loan (B1/BB-) talked at Libor plus 425 bps to 450 bps, 1.25% Libor floor, OID 99, 101 soft call; Bank of America, Barclays and Citigroup; capitalize Altisource Residential Corp. and Altisource Asset Management Corp. prior to their separation from Altisource, and for general corporate purposes; Luxembourg-based provider of services focused on high-value, technology-enabled knowledge-based solutions principally related to real estate and mortgage portfolio management, asset recovery and customer relationship management.

ARCH COAL INC.: $250 million incremental covenant-light senior secured term loan (Ba3/BB) due 2018 talked at Libor pus 450 bps, 1.25% Libor floor, OID 99; Bank of America, PNC Capital, Morgan Stanley, Citigroup and Credit Suisse; general corporate purposes; St. Louis-based coal producer and marketer.

ARDENT HEALTH SERVICES: $1.02 billion senior secured credit facility; Bank of America, Barclays, GE Capital and Nomura; $120 million five-year revolver (B1); $725 million 51/2-year first-lien term loan (B1) talked at Libor plus 500 bps to 525 bps, 1.5% Libor floor, OID 99, 101 soft call; $175 million six-year second-lien term loan (Caa1) talked at Libor plus 875 bps to 900 bps, 1.5% Libor floor, OID 98, call protection 103, 102, 101; refinance existing bank debt and finance its portion of the acquisition of Baptist St. Anthony's Health System; Nashville, Tenn., owner and operator of hospitals, a member health plan, multi-specialty physician groups and retail pharmacies.

ARTEL INC.: $145 million credit facility (B2); RBC; $20 million revolver; $125 million term B talked at Libor plus 550 bps to 575 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance existing debt and fund a dividend; Reston, Va., telecom and IT services provider.

ATLANTIC BROADBAND GROUP LLC: $710 million credit facility (Ba3/BB+); Bank of America, TD and BMO; $50 million five-year revolver at Libor plus 300 bps; $230 million five-year term A at Libor plus 300 bps; $430 million seven-year term B at Libor plus 350 bps, 1% Libor floor, OID 991/4, 101 soft call; help fund acquisition by Cogeco Cable Inc. and refinance existing debt; Quincy, Mass., cable system operator.

ATLAS IRON LTD.: $325 million five-year covenant-light first-lien term loan (B2/B+) talked at Libor plus 550 bps, 1.25% Libor floor, OID 98, call protection 102, 101; Credit Suisse; general corporate purposes and fund Horizon 1 expansion; Perth, Australia, iron ore company.

AUTO EUROPE: $140 million five-year first-lien term loan; KeyBanc and RBS Citizens; fund a dividend; Portland, Maine, car rental company.

BASS PRO GROUP LLC: $900 million term B (B1/BB-) due 2019 talked at Libor plus 300 bps, 1% Libor floor, OID 993/4, 101 soft call; JPMorgan; refinance existing term B; Springfield, Mo., retailer of outdoor sports and recreation products.

BOMBARDIER RECREATIONAL PRODUCTS: $1.05 billion six-year covenant-light term B (B1/B+) talked at Libor plus 375 bps to 400 bps, 1.25% Libor floor, OID 99, 101 soft call; RBC and BMO; refinance existing debt and pay a dividend; Valcourt, Quebec, designer manufacturer, distributor and marketer of motorized recreational vehicles and powersports engines.

CHG HEALTHCARE SERVICES: $765 million credit facility; Goldman Sachs, Barclays, Citigroup and Jefferies; $100 million five-year revolver (B1/B); $475 million seven-year first-lien term B (B1/B) at Libor plus 375 bps, 1.25% Libor floor, OID 99, 101 soft call; $190 million eight-year second-lien term loan (Caa1/CCC+) at Libor plus 775 bps, 1.25% Libor floor, OID 98, call protection 103, 102, 101; help fund buyout by Leonard Green & Partners and Ares Management LLC from J.W. Childs Associates LP; Salt Lake City-based health care staffing firm.

COMMUNICATIONS CORP. OF AMERICA: $157.5 million 51/2-year term B (B2/B) talked at Libor plus 700 bps, 1.5% Libor floor, OID 98 area, 101 soft call for two years; JPMorgan; refinance existing debt; Lafayette, La., TV broadcasting company.

CONSOLIDATED COMMUNICATIONS HOLDINGS INC.: $515 million term B (Ba3/BB-) talked at Libor plus 375 bps to 400 bps, 1.25% Libor floor, OID 99, 101 soft call; Wells Fargo; Securities LLC; refinance non-extended term loan debt; Mattoon, Ill.-based rural local exchange company providing voice, data and video services.

CONTOURGLOBAL POWER HOLDINGS SA: $350 million five-year first lien term loan (B2/BB-) talked at Libor plus 850 bps, 1.5% Libor floor, OID 971/2, non-call two, 102, 101; Credit Suisse; finance acquisitions and for general corporate purposes; New York-based operator of power generating stations.

CORNERSTONE HEALTHCARE GROUP HOLDING INC.: $150 million 31/2-year term loan talked at Libor plus 525 bps to 550 bps, 1.25% Libor floor, OID 99, 101 soft call; Goldman Sachs; refinance existing debt and add cash to the balance sheet; Dallas-based operator of long term acute care hospitals and medical rehabilitation hospitals.

CPG INTERNATIONAL INC.: $465 million credit facility; Credit Suisse and Barclays leading term loan, Wells Fargo, Credit Suisse and Barclays leading revolver; $355 million seven-year covenant-light first-lien term loan (B1/B) at Libor plus 450 bps, 1.25% Libor floor, OID 991/2, 101 soft call; $110 million five-year ABL revolver with pricing ranging from Libor plus 150 bps to 200 bps; help fund acquisition of TimberTech and refinance existing debt; Scranton, Pa., manufacturer of synthetic building products.

CUNNINGHAM LINDSEY GROUP LTD.: $660 million credit facility; Bank of America, Morgan Stanley, RBC and UBS; $140 million five-year revolver (Ba3/B); $410 million covenant-light seven-year term B (Ba3/B) at Libor plus 375 bps, 1.25% Libor floor, OID 99, 101 soft call; $110 million 71/2-year covenant-light second-lien term loan (B3/B-) at Libor plus 800 bps, 1.25% Libor floor, OID 99, call protection 103, 102, 101; help fund buyout by CVC Capital Partners from Stone Point Capital; Tampa, Fla., provider of independent loss adjusting and claims management services.

ENTERCOM COMMUNICATIONS CORP.: $347.5 million term B talked at Libor plus 375 bps to 400 bps, 1.25% Libor floor, 101 soft call; Bank of America Merrill Lynch; reprice existing term B; Bala Cynwyd, Pa., radio broadcasting company.

EQUINOX HOLDINGS INC.: $800 million credit facility; Bank of America, Morgan Stanley, Goldman Sachs and Citigroup; $100 million five-year revolver (B1/B); $500 million seven-year first-lien term loan (B1/B) talked at Libor plus 425 bps to 450 bps, 1.25% Libor floor, OID 99, 101 soft call; $200 million 71/2-year second-lien term loan (Caa2/CCC+) talked at Libor plus 825 bps to 850 bps, 1.25% Libor floor, OID 98, call protection 103, 102, 101; refinance existing debt; New York-based exercise and fitness company.

FENDER MUSICAL INSTRUMENTS CORP.: $245 million six-year term B (B2) talked at Libor plus 475 bps to 500 bps, 1.25% Libor floor, OID 99, 101 soft call; Wells Fargo and JPMorgan; refinance existing term loan; Scottsdale, Ariz., maker of instruments.

FIBERTECH NETWORKS: $430 million credit facility (B2/B+); TD Securities, M&T Securities and UBS; $50 million revolver; $380 million covenant-light term B talked at Libor plus 450 bps to 475 bps, 1.25% Libor floor, OID 991/2, 10 soft call; refinance existing debt and fund a dividend; Rochester, N.Y., provider of fiber optic bandwidth services.

FIRTH RIXSON LTD.: $800 million credit facility (Ba3/B+); Deutsche Bank, Barclays, HSBC, Lloyds and GE Capital; $120 million revolver due March 2017; $680 million first-lien term loan due June 2017, U.S. tranche talked at Libor plus 475 bps to 500 bps, 1.25% Libor floor, OID 99, 101 soft call, up to £150 million tranche talked at Libor plus 500 bps to 525 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance existing debt; Sheffield, U.K., provider of seamless rolled rings, closed die forgings, open die forgings, extruded forgings and specialty metals primarily to the aerospace market.

FLEETPRIDE INC. (FPC HOLDINGS INC.): $800 million credit facility; Deutsche Bank, Bank of America, RBC, Barclays and UBS; $175 million ABL revolver; $425 million seven-year covenant-light first-lien term loan (B1/B) at Libor plus 400 bps, 1.25% Libor floor, OID 99, 101 soft call; $200 million 71/2-year covenant-light second-lien term loan (Caa1/CCC+) at Libor plus 800 bps, 1.25% Libor floor, OID 98, call protection 103, 102, 101; help fund buyout by TPG Capital from Investcorp; The Woodlands, Texas, retailer of heavy-duty truck and trailer parts.

FTI CONSULTING INC.: $350 million five-year revolver; refinance existing revolver; West Palm Beach, Fla., business advisory firm.

GENESIS HEALTHCARE: $700 million five-year senior secured credit facility; Barclays (left on term loan) and GE Capital (left on revolver); $375 million ABL revolver pricing grid Libor plus 275 bps to 325 bps, unused fee 37.5 bps to 50 bps, based on usage; $325 million five-year term loan (B2/B) at Libor plus 850 bps, 1.5% Libor floor, OID 94, non-call one, 102, 101; help fund acquisition of Sun Healthcare Group Inc.; Kennett Square, Pa.-based skilled nursing care provider.

GROCERY OUTLET INC.: $505 million senior secured credit facility; Barclays, Credit Suisse and UBS; $30 million five-year revolver; $360 million six-year first-lien term B talked at Libor plus 475 bps to 500 bps, 1.25% Libor floor, OID 99, 101 soft call; $115 million 61/2-year second-lien term loan talked at Libor plus 850 bps to 875 bps, 1.25% Libor floor, OID 98, call protection 103, 102, 101; refinance existing debt and fund a dividend; Berkeley, Calif., extreme-value grocery retailer.

GWF ENERGY HOLDINGS: $202.9 million senior secured credit facility (Ba2/BB); Barclays; $5 million five-year revolver; $173.5 million six-year term loan talked at Libor plus 425 bps to 450 bps, 1.25% Libor floor, OID 99, 101 soft call; $24.4 million five-year letter-of-credit facility; help fund the acquisition three gas fired power plants in California from Harbert Power.

HARBOURVEST PARTNERS LP: $350 million five-year first-lien term loan at Libor plus 375 bps, 1% Libor floor, OID 991/2, 101 soft call; Credit Suisse; refinance existing debt; Boston-based private equity firm.

INSIGHT GLOBAL: $490 million new credit facility; Credit Suisse, Bank of America and RBC; $300 million seven-year first-lien term loan (Ba3/B) talked at Libor plus 475 bps, 1.25% Libor floor, OID 99, 101 soft call; $130 million eight-year second-lien term loan (B3/CCC+) talked at Libor plus 900 bps, 1.25% Libor floor, OID 99, call protection 103, 102, 101; $60 million five-year revolver (Ba3/B); help fund buyout by Ares Management; Atlanta-based temporary staffing firm serving the information technology sector.

INTRAWEST: $650 million credit facility; Goldman Sachs; $20 million five-year super-priority revolver (B+); $55 million five-year first-lien letter-of-credit facility (B+) talked at Libor plus 500 bps; $425 million five-year first-lien term B (B+) talked at Libor plus 500 bps, 1.25% Libor floor, OID 99, 101 soft call; $150 million six-year second-lien term loan (CCC) talked at Libor plus 850 bps to 875 bps, 1.25% Libor floor, OID 98, non-call one, 102, 101; refinance existing debt; operator of ski resorts and luxury adventure travel brands.

JIMMY SANDERS (PINNACLE OPERATING CORP.): $775 million credit facility; Credit Suisse, BMO and Citigroup; $300 million five-year ABL revolver; $350 million six-year first-lien covenant-light term loan (B2/B) at Libor plus 550 bps, 1.25% Libor floor, OID 97, 101 soft call; $125 million 61/2-year second-lien covenant-light term loan (Caa1/CCC+) at Libor plus 1,025 bps, 1.25% Libor floor, OID 95, non-call one, 106, 102, 101; help fund acquisition by Pinnacle Agriculture Holdings LLC and Apollo Global Management LLC; Cleveland, Miss., agricultural input supply and distribution business.

LANDMARK AVIATION: $465 million credit facility; Morgan Stanley, RBC and Barclays; $75 million five-year revolver (B2/B-); $260 million seven-year first-lien term loan (B2/B-) at Libor plus 450 bps, 1.25% Libor floor, OID 99, 101 soft call; $130 million eight-year second-lien term loan (Caa2/CCC) at Libor plus 825 bps, 1.25% Libor floor, OID 981/2, call protection 102, 101; fund buyout by Carlyle Group LP; Tempe, Ariz., provider of aftermarket services to the business aviation industry.

MERRILL COMMUNICATIONS LLC: $500 million five-year credit facility; Credit Suisse; $30 million revolver (B1/B+); $470 million first-lien term loan (B3/B-) at Libor plus 900 bps, 1.5% Libor floor, OID 98, soft call 103, 102, 101; also $135 million 51/2-year second-lien notes (Caa3/CCC) atLibor plus 1,450 bps, including 2% PIK, OID 98, non-call for life; refinance existing bank debt; St. Paul, Minn., provider of technology-enabled services.

METALDYNE LLC: $620 million credit facility (B+); Bank of America, Deutsche Bank, RBC and Barclays; $75 million five-year revolver; $545 million six-year term B, U.S. tranche talked at Libor plus 475, 1.25% Libor floor, OID 99, euro tranche talked at Euribor plus 525 bps, 1.25% Euribor floor, OID 99; help fund buyout by American Securities from Carlyle Group; Plymouth, Mich., designer and supplier of metal-formed components and assemblies for powertrain applications.

MULTI PACKAGING SOLUTIONS INC.: $420 million senior secured credit facility; Barclays and UBS; $30 million five-year revolver (B1/B); $330 million six-year covenant-light first-lien term loan (B1/B) talked at Libor plus 400 bps to 425 bps, 1.25% Libor floor, OID 99, 101 soft call; $60 million 61/2-year covenant-light second-lien term loan (Caa1/CCC+) talked at Libor plus 825 bps to 850 bps, 1.25% Libor floor, OID 98, call protection 103, 102, 101; refinance existing debt, redeem preferred stock and pay dividends/other distributions to shareholders; New York-based manufacturer of specialty print-based packaging products for the pharmaceutical, multi-media and consumer markets.

NATIONAL CINEMEDIA LLC: $270 million of bank debt (Ba2/BB-); Barclays, JPMorgan, Credit Suisse, Macquarie and Morgan Stanley; $265 million seven-year term loan talked at Libor plus 325 bps, OID 99 to 991/2, 101 soft call; $5 million add-on revolver; refinance an existing term loan, pay-off current interest rate swap arrangements, make affiliate payments and for general corporate purposes; Centennial, Colo., media company providing advertising and events across theater circuits.

NEIMAN MARCUS GROUP INC.: $500 million first-lien incremental term loan due May 2018 talked at Libor plus 350 bps, 1.25% Libor floor, OID 991/2; Credit Suisse, Bank of America, JPMorgan and Wells Fargo; refinance senior subordinated notes; Dallas-based chain of department stores.

NEWPAGE CORP.: $850 million exit facility; Goldman Sachs, JPMorgan, Barclays, Wells Fargo and UBS; $500 million six-year term loan talked at Libor plus 675 bps to 700 bps, 1.25% Libor floor, OID 98, non-call one, 102, 101; $350 million five-year ABL revolver talked at Libor plus 200 bps, 37.5 bps unused fee; fund distributions under the bankruptcy plan and working capital needs; Miamisburg, Ohio, producer of printing and specialty papers.

NEXSTAR BROADCASTING GROUP INC.: $445 million senior secured credit facility (Ba2/BB); Bank of America, UBS and RBC; $95 million five-year revolver; $350 million seven-year term loan talked at Libor plus 350 bps, 1% Libor floor, OID 99 to 991/2; fund the acquisition of television stations from Newport Television LLC and refinance existing debt; Irving, Texas, media company.

NOMACORC LLC: $135 million five-year credit facility; GE Capital; $20 million revolver talked at Libor plus 500 bps, 1.25% Libor floor, OID 99; $115 million term B talked at Libor plus 500 bps, 1.25% Libor floor, OID 99; refinance existing debt and fund a dividend; Zebulon, N.C., manufacturer of the wine closures and synthetic wine corks.

NORTHERN TOOL + EQUIPMENT: $300 million credit facility; JPMorgan; $100 million five-year ABL revolver; $200 million seven-year term B (Ba3/B+) talked at Libor plus 450 bps, 1.25% Libor floor, OID 99, 101 soft call; fund purchase of Sportsman's Guide and Golf Warehouse from Redcats USA; Burnsville, Minn.-based supplier of tools and equipment.

NPC INTERNATIONAL INC.: $473 million senior secured credit facility (Ba3); Barclays and Goldman Sachs; $100 million revolver; $373 million term loan talked at Libor plus 325 bps, 1.25% Libor floor, 101 soft call; refinance/reprice existing credit facility; Overland Park, Kan., Pizza Hut franchisee.

NSG HOLDINGS LLC: $230 million credit facility; BNP Paribas; $146 million term B talked at Libor plus 375 bps to 400 bps, 1.25% Libor floor, OID 99, 101 soft call; $44 million debt service reserve letter-of-credit facility talked at Libor plus 375 bps to 400 bps; $40 million performance letter-of-credit facility talked at Libor plus 275 bps to 300 bps; refinance existing debt and fund a dividend; Houston-based power generation company.

OSMOSE HOLDINGS INC.: $400 million credit facility (B2); Credit Suisse; $45 million five-year revolver; $315 million six-year first-lien covenant-light term loan talked at Libor plus 550 bps, 1.25% Libor floor, OID 99, 101 soft call; $40 million delayed-draw for three months term loan talked at Libor plus 550 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance existing debt, fund a dividend and finance an acquisition; Buffalo, N.Y., provider of wood preservation technology as well as utility and railroad asset management.

P2 ENERGY SOLUTIONS INC.: $355 million credit facility; Jefferies; $25 million revolver (B1); $220 million first-lien term loan (B1) at Libor plus 475 bps, 1.25% Libor floor, OID 99, 101 soft call; $110 million second-lien term loan (Caa1) at Libor plus 875 bps, 1.25% Libor floor, OID 981/2, call protection 103, 102, 101; refinance an existing credit facility and pay a distribution to shareholders; provider of software and data services for the upstream oil and gas industry.

PATHEON INC.: $650 million senior secured credit facility (B3/B+); Morgan Stanley, UBS, Credit Suisse and KeyBanc; $85 million five-year revolver; $565 million seven-year covenant-light term loan talked at Libor plus 550 bps to 575 bps, 1.25% Libor floor, OID 981/2, 101 soft call; help fund acquisition of Banner Pharmacaps from VION NV, repurchase notes, repay revolver debt and general corporate purposes; Durham, N.C., provider of contract development and manufacturing services to the pharmaceutical industry.

PEAK 10: $330 million six-year senior secured credit facility (B2/B); RBC, Barclays, GE Capital and Morgan Stanley; $30 million revolver; $300 million term B at Libor plus 600 bps, 1.25% Libor floor, OID 97, 101 soft call; refinance existing debt and fund a dividend; Charlotte, N.C., operator of data centers.

P.F. CHANG'S CHINA BISTRO INC.: $305 million term B talked at Libor plus 400 bps, 1.25% Libor floor, 101 soft call; Wells Fargo, Deutsche Bank and Barclays; repricing; Scottsdale, Ariz., owner and operator of two restaurant concepts in the Asian niche.

PHARMACEUTICAL RESEARCH ASSOCIATES INC.: $535 million senior secured credit facility; UBS, Wells Fargo and GE Capital; $40 million five-year revolver (B), 50 bps unused fee; $360 million six-year first-lien term loan (B) talked at Libor plus 400 bps to 425 bps, 1.25% Libor floor, OID 99, 101 soft call; $135 million seven-year second-lien term loan (B-) talked at Libor plus 800 bps to 825 bps, 1.25% Libor floor, OID 98, call protection 102, 101; refinance existing debt and fund a dividend; Raleigh, N.C., clinical research organization.

PHOENIX SERVICES LLC (METAL SERVICES LLC): $305 million credit facility (B1/B); Credit Suisse and Morgan Stanley; $30 million four-year revolver; $275 million 41/2-year first-lien term loan talked at Libor plus 625 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance existing debt; Kennett Square, Pa., provider of steel mill services and a processor of slag and co-products from steel mills and foundries.

PLAINS EXPLORATION & PRODUCTION CO.: $5 billion senior secured credit facility (Ba1); JPMorgan, Barclays, Bank of America, BMO, Citigroup, RBC, Scotia Capital, TD Securities and Wells Fargo Securities; $3 billion five-year revolver at Libor plus 250 bps; $750 million five-year term A talked at Libor plus 300 bps; $1.25 billion seven-year term B at Libor plus 300 bps, 1% Libor floor, OID 991/2, 101 soft call; fund acquisitions of a 50% working interest in the Holstein Field from Shell Offshore Inc. and oil and natural gas interests in the Gulf of Mexico from BP Exploration & Production Inc., refinance some existing debt and general corporate purposes; Houston-based oil and gas company.

PTC ALLIANCE HOLDINGS CORP.: $150 million five-year first-lien term loan at Libor plus 775 bps, 1.25% Libor floor, OID 97, soft call 102, 101; Credit Suisse; fund an equity tender offer; Wexford, Pa., manufacturer and marketer of welded and cold drawn mechanical steel products.

RAVEN POWER FINANCE: $175 million six-year first-lien term B at Libor plus 600 bps, 1.25% Libor floor, OID 98, non-call one, 102; UBS; help fund acquisition of three Maryland coal-fired power plants from Exelon.

SEALED AIR CORP.: Roughly $800 million term B (Ba1/BB); Citigroup, Bank of America, BNP Paribas and RBS; $609.5 million tranche at Libor plus 300 bps, 1% Libor floor, OID 993/4, 101 soft call; €150 million tranche at Euribor plus 350 bps, 1% floor, OID 993/4, 101 soft call; refinance existing term B; Elmwood Park, N.J., food safety and security, facility hygiene and product protection company.

SEQUA AUTOMOTIVE GROUP: $275 million credit facility (B1/B+); RBC and Barclays; $55 million revolver; $220 million term B at Libor plus 500 bps, 1.25% Libor floor, OID 99, 101 soft call; help fund buyout by the Jordan Co.; Tampa, Fla., supplier of niche and highly engineered automotive components.

SHELF DRILLING INTERNATIONAL HOLDINGS LTD.: $75 million term loan (Ba1) at Libor plus 500 bps, 1.25% Libor floor, OID 98, 101 soft call; Jefferies; fund acquisition of 38 drilling rigs from Transocean Inc.; international shallow water offshore drilling contractor.

SIDERA NETWORKS INC.: $375 million credit facility; SunTrust; $50 million five-year revolver; $325 million six-year term B talked at Libor plus 400 bps to 425 bps, 1.25% Libor floor, OID 991/2, 101 soft call; refinance an existing credit facility; New York-based provider of dark fiber, colocation and advanced network services.

SIRIUS COMPUTER SOLUTIONS INC.: $360 million credit facility (B1); Wells Fargo; $20 million five-year revolver; $340 million six-year covenant-light term B talked at Libor plus 425 bps to 475 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance existing debt and fund a dividend; San Antonio, Texas, IT solutions integrator.

SMART & FINAL HOLDINGS CORP.: $870 million credit facility; Morgan Stanley, Bank of America, Credit Suisse and Deutsche Bank; $150 million ABL revolver (Ba2/BB-); $525 million seven-year first-lien term loan (B3/B) at Libor plus 450 bps, 1.25% Libor floor, OID 99, 101 soft call; $195 million eight-year second-lien term loan (Caa2/CCC+) at Libor plus 925 bps, 1.25% Libor floor, OID 97, hard call protection 102, 101; help fund buyout by Ares Management from Apollo Global Management LLC; Commerce, Calif., warehouse-style, no membership fee, multi-format retailer.

SPECTRUM BRANDS HOLDINGS INC.: $800 million senior secured term loan (Ba3/B/BB-); Deutsche Bank and Barclays; $700 million U.S. tranche at Libor plus 325 bps, 1.25% Libor floor, OID 99, 101 soft call; C$100 million tranche at BA plus 375 bps, 1.25% floor, OID 99, 101 soft call; help fund acquisition of the hardware and home improvement group of Stanley Black & Decker Inc.; Madison, Wis., consumer products company.

SPORTS AUTHORITY INC.: $630 million covenant-light senior secured seven-year term B (B3) talked at Libor plus 550 bps to 600 bps, 1.25% Libor floor, OID 99, 101 soft call; Bank of America, JPMorgan, BMO, Credit Suisse, RBC, UBS and Wells Fargo; refinance existing debt; Englewood, Colo., sporting goods retailer.

STERLING INFOSYSTEMS INC.: $179.2 million credit facility; GE Capital and RBS Citizens; $20 million revolver due Feb. 1, 2017 talked at Libor plus 450 bps, 1.25% Libor floor, OID 993/4; $159.2 million term loan due Feb. 1, 2018 talked at Libor plus 450 bps, 1.25% Libor floor, OID 993/4, 101 soft call; refinance existing credit facility; New York-based background screening company.

STREAM GLOBAL SERVICES INC.: $400 million senior secured credit facility (Ba3/B+); Morgan Stanley, Wells Fargo and Bank of America; $65 million five-year revolver; $290 million seven-year term B talked at Libor plus 525 bps area, 1.25% Libor floor, OID 99, 101 soft call; $45 million seven-year delayed draw term B talked at Libor plus 525 bps area, 1.25% Libor floor, OID 99, 101 soft call; refinance existing credit facility and notes and for general corporate purposes; Eagan, Minn., business process outsourcing company that provides sales, customer care, technical support and complex outsourcing services.

TEMPUR-PEDIC INTERNATIONAL INC.: $1.77 billion senior secured credit facility (Ba3); Bank of America, Barclays, JPMorgan, Wells Fargo and Fifth Third; $350 million five-year revolver; $650 million five-year term A; $770 million seven-year term B talked at Libor plus 400 bps to 425 bps, 1% Libor floor, OID 99, 101 soft call; help fund acquisition of Sealy Corp.; Lexington, Ky.-based manufacturer, marketer and distributor of premium mattresses and pillows.

THERAKOS INC.: $325 million credit facility; RBC and Jefferies; $35 million revolver (B2/B); $210 million first-lien term loan (B2/B) talked at Libor plus 600 bps to 625 bps, 1.25% Libor floor, OID 98, 101 soft call; $80 million second-lien term loan (Caa2/CCC+) talked at Libor plus 950 bps to 975 bps, 1.25% Libor floor, OID 97, call protection 103, 102, 101; help fund buyout by Gores Group from Ortho-Clinical Diagnostics Inc.; Raritan, N.J.-based provider of integrated systems for delivering extracorporeal photopheresis.

TOWN SPORTS INTERNATIONAL HOLDINGS INC.: $60 million add-on term loan at Libor plus 450 bps, 1.25% Libor floor, OID 991/2, 101 soft call; Deutsche Bank; pay a dividend to stockholders; New York-based owner and operator of fitness clubs.

UPC BROADBAND HOLDING BV: $500 million first-lien term AF (Ba3/BB-) due Jan. 31, 2021 talked at Libor plus 300 bps, 1% Libor floor, OID 993/4, 101 soft call; JPMorgan, Scotia and Citigroup; refinance an existing facility AB; provider of video, voice and broadband internet services.

VESTA CORP.: $295 million of term loans; Credit Suisse; $200 million five-year first-lien term loan talked at Libor plus 500 bps, 1.25% Libor floor, OID 99, 101 soft call; $95 million six-year second-lien term loan talked at Libor plus 925 bps, 1.25% Libor floor, OID 98, call protection 103, 102, 101; fund a tender offer for existing shareholders; Atlanta-based provider of non-retail electronic payment services for the telecommunications industry.

VILLAGE ROADSHOW FILMS (BVI) LTD.: $825 million five-year credit facility; JPMorgan and Rabobank; $225 million revolver; $600 million term B at Libor plus 375 bps, 1% Libor floor, OID 99, non-call two, 101; refinance existing bank debt and acquire pictures one year after theatrical release; Australian-based filmed entertainment company.

WALTER INVESTMENT MANAGEMENT CORP.: $825 million five-year senior secured credit facility (B1/B+); Credit Suisse and Morgan Stanley; $125 million revolver; $700 million first-lien term loan at Libor plus 450 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance existing bank debt and working capital and general corporate purposes; Tampa, Fla., asset manager, mortgage servicer and mortgage portfolio owner.

WEB.COM GROUP INC.: Roughly $640 million of bank debt; JPMorgan, Deutsche Bank, SunTrust, Goldman Sachs, Citigroup and Wells Fargo; roughly $630 million first-lien term B due Oct. 27, 2017 at Libor plus 425 bps, 1.25% Libor floor, OID 99, 101 soft call; $10 million incremental revolver; reprice existing first-lien term B and repay some second-lien term loan debt; Jacksonville, Fla., provider of internet services and online marketing services for small businesses.

WESCO DISTRIBUTION INC.: About $755 million in new seven-year covenant-light term loans (Ba3/B+); Credit Suisse, Barclays, UBS and Goldman Sachs; $605 million term loan talked at Libor plus 300 bps, 1% Libor floor, OID 99, 101 soft call; C$150 million term loan talked at BA plus 350 bps, 1% floor, OID 99, 101 soft call; fund acquisition of EECOL Electric Corp.; Pittsburgh-based provider of electrical, industrial and communications MRO and OEM products, construction materials, and advanced supply chain management and logistics services.

WINDSOR FINANCING LLC: $246 million term B (Ba2/BB+) talked at Libor plus 375 bps to 400 bps, 1% Libor floor, OID 99, 101 soft call; Morgan Stanley; refinance notes and fund reserve accounts; Charlotte, N.C., company that finances the operations of some electric and steam generating plants.

On The Horizon

ANCESTRY.COM: $720 million senior secured credit facility; Barclays, Credit Suisse, Deutsche Bank, Morgan Stanley and RBC; $50 million five-year revolver expected at Libor plus 450 bps, 50 bps unused fee; $670 million seven-year covenant-light term loan expected at Libor plus 450 bps, 1.25% Libor floor, OID 99; help fund buyout by Permira Funds; Provo, Utah, online family history resource.

APEX TOOL GROUP LLC: New debt financing; Barclays, Citigroup, Deutsche Bank, Goldman Sachs, Morgan Stanley and RBC; help fund buyout by Bain Capital from Cooper Industries and Danaher Corp.; Sparks, Md., tool manufacturer.

CLEAN HARBORS INC.: $475 million seven-year covenant-light senior secured term loan expected at Libor plus 300 bps, 1% Libor floor, 101 soft call; Goldman Sachs; help fund acquisition of Safety-Kleen Inc.; Norwell, Mass., provider of environmental, energy and industrial services.

DIGITALGLOBE INC.: $1.2 billion credit facility; Morgan Stanley, Bank of Tokyo-Mitsubishi, JPMorgan and Citigroup; $1.05 billion seven-year term loan expected at Libor plus 500 bps, 1.25% Libor floor, 101 soft call; $150 million five-year revolver expected at Libor plus 500 bps; help fund acquisition of GeoEye Inc. and refinance existing debt; Longmont, Colo., provider of commercial high-resolution earth imagery products and services.

DUPONT PERFORMANCE COATINGS: New credit facility; Barclays, Credit Suisse, Citigroup, Deutsche Bank, Morgan Stanley, UBS and Jeffries; help fund buyout by Carlyle Group from DuPont; Wilmington, Del., supplier of vehicle and industrial coating systems.

ENSTAR GROUP LTD.: New credit facility; help fund acquisition of SeaBright Holdings Inc.; Hamilton, Bermuda, acquirer and manager of insurance and reinsurance companies.

HAMILTON SUNDSTRAND INDUSTRIAL: New credit facility; Deutsche Bank, Citigroup, Credit Suisse, Morgan Stanley, RBC and UBS; help fund buyout by BC Partners and the Carlyle Group from United Technologies Corp.; manufacturer of highly engineered, mission-critical pumps and compressors.

HARBINGER GROUP INC./EXCO RESOURCES INC. JOINT VENTURE: $225 million of bank debt; JPMorgan; help fund acquisition of oil and gas assets in West Texas from EXCO; oil and gas limited partnership.

HOUGHTON INTERNATIONAL INC.: New credit facility; RBC; help fund acquisition by Gulf Oil Corp. Ltd.; Norristown, Pa., developer, producer and manager of specialty chemicals, oils and lubricants.

NORTH AMERICAN BREWERIES HOLDINGS LLC: $185 million credit facility; Morgan Stanley; $10 million revolver; $175 million term B; help fund acquisition by Cerveceria Costa Rica SA from KPS Capital Partners LP; Rochester, N.Y., beer company.

PPG COMMODITY CHEMICALS: $225 million term loan expected at Libor plus 275 bps, 1% Libor floor; Barclays and JPMorgan; help fund spin-off from PPG Industries and merger with Georgia Gulf Corp.; producer of chlorine, caustic soda and related chemicals.

PVH CORP.: New credit facility; Barclays, Bank of America and Citigroup; help fund acquisition of Warnaco Group Inc., refinance debt and provide liquidity; Bridgewater, N.J., apparel company.

QUICKSILVER PRODUCTION PARTNERS OPERATING LLC: $750 million five-year secured revolver with pricing of Libor plus 175 bps to 275 bps based on usage; JPMorgan; in connection with initial public offering of common units; help pay a contribution to Quicksilver; Fort Worth, Texas, owner and acquirer of oil and gas properties.

REDPRAIRIE: $2.2 billion senior secured credit facility; Credit Suisse; $100 million five-year revolver expected at Libor plus 425 bps, 1.25% Libor floor, 50 bps unused fee; $1.45 billion six-year first-lien covenant-light term loan expected at Libor plus 425 bps, 1.25% Libor floor, OID 99, 101 soft call; $650 million seven-year second-lien covenant-light term loan expected at Libor plus 850 bps, 1.25% Libor floor, OID 981/2, call protection 103, 102, 101; help fund acquisition of JDA Software; Alpharetta, Ga., provider of supply chain software services.

SYNIVERSE TECHNOLOGIES INC.: $700 million seven-year covenant-light senior secured term loan expected at Libor plus 425 bps, 1.25% Libor floor; Barclays, Deutsche Bank, Credit Suisse and Goldman Sachs; help fund purchase of MACH; Tampa, Fla., provider of technology and business services for the telecommunications industry.

TCW GROUP: New financing; JPMorgan, Bank of America and Morgan Stanley; help fund buyout by Carlyle Group from Societe Generale; Los Angeles-based asset management firm with around $130 billion under management.

TPC GROUP INC.: $250 million asset-based revolver; Bank of America, Morgan Stanley, Jefferies, Deutsche Bank and Goldman Sachs; help fund buyout by First Reserve Corp. and SK Capital Partners; Houston-based fee-based processor and service provider of value-added products derived from niche petrochemical raw materials.

TRIBUNE CO.: $1.4 billion exit facility; Bank of America (left on revolver), JPMorgan (left one term loan), Citigroup, Credit Suisse and Deutsche Bank; $300 million five-year senior secured asset-based revolver expected at Libor plus 150 bps; $1.1 billion seven-year term loan; fund cash plan distributions for some creditors and general corporate purposes; Chicago-based media 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.