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Published on 3/2/2012 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $28.6259 billion deals being marketed

March Bank Meetings

COVANTA ENERGY CORP.: $1.2 billion credit facility; Bank of America and Morgan Stanley; $900 million revolver; $300 million term B; refinance existing credit facility; Morristown, N.J., owner and operator of Energy-from-Waste and power generation projects.

CRESTWOOD HOLDINGS LLC: Bank meeting March 9; $400 million term B, call protection 103, 102, 101; Bank of America, BNP Paribas, Citigroup, RBC, RBS and UBS; refinance existing debt and fund acquisition of Antero Resources Appalachian Corp.'s Marcellus Shale gathering system assets; Houston-based energy company.

OBERTHUR TECHNOLOGIES: Bank meeting March 6; $250 million term B; RBC, Barclays and Lloyds; refinance debt that was used for the company's buyout by Advent International; France-based provider of security and identification services based on smart-card technologies.

PROTECTION ONE INC.: Bank meeting March 5; $545 million credit facility; JPMorgan and Barclays; $25 million five-year revolver; $520 million seven-year term B; refinance existing credit facility and fund a distribution to shareholders; Romeoville, Ill., alarm and security services provider.

SERENA SOFTWARE INC.: Conference call March 5; up to $117 million senior secured term loan due March 2016; Barclays; repay non-extended term loan debt; Redwood City, Calif., Application Lifecycle Management vendor.

TUBE CITY IMS CORP.: Bank meeting March 5; $300 million seven-year senior secured term B; JPMorgan, Credit Suisse, Bank of America and Wells Fargo; refinance existing term B and senior subordinated notes; Glassport, Pa., provider of outsourced industrial services to steel mills.

UNITED SURGICAL PARTNERS INTERNATIONAL INC.: Bank meeting March 5; $455 million credit facility; JPMorgan and Barclays; $125 million five-year revolver; $330 million incremental first-lien term B due 2019; help repay senior subordinated notes and fund a special dividend; Dallas-based owner and operator of ambulatory surgery centers and surgical hospitals.

YANKEE CANDLE CO. INC.: Bank meeting March 6; $755 million senior secured credit facility; Bank of America and Barclays; $580 million seven-year term B (Ba3); $175 million five-year asset-based revolver; refinance existing credit facility and redeem senior notes; South Deerfield, Mass., designer, manufacturer, wholesaler and retailer of scented candles.

Upcoming Closings

ACCO BRANDS CORP.: $1.02 billion senior secured credit facility (Ba2/BB+/BB+); Barclays, Bank of America and BMO; $250 million five-year revolver at Libor plus 300 bps; $320 million five-year term A at Libor plus 300 bps; $450 million seven-year term B at Libor plus 325 bps, 1% Libor floor, OID 99, 101 soft call; help fund merger with MeadWestvaco Corp.'s consumer & office products business and refinance existing debt; Lincolnshire, Ill., office supply manufacturer.

ASPEN DENTAL MANAGEMENT INC.: $127.4 million term B (B2/B) due Oct. 6, 2016 talked at Libor plus 525 bps to 550 bps, 1.5% Libor floor, OID 981/2; UBS and GE; fund a dividend; East Syracuse, N.Y., provider of denture and dental care services.

ASSOCIATED ASPHALT: $280 million credit facility (B2/B+); KeyBanc, Nomura and Fifth Third; $90 million five-year revolver; $170 million six-year term B at Libor plus 575 bps, 1.5% Libor floor, OID 98; $20 million six-year delayed-draw for six months term B at Libor plus 575 bps, 1.5% Libor floor, OID 98; help fund buyout by Goldman Sachs Capital Partners; Roanoke, Va., supplier of liquid asphalt to the paving industry.

ATP OIL & GAS CORP.: $140 million incremental senior secured first-lien term loan at Libor plus 750 bps, 1.5% Libor floor, OID 99; Credit Suisse; general corporate purposes; Houston-based offshore oil and gas development and production company.

AVIS BUDGET CAR RENTAL LLC: $375 million seven-year term B talked at Libor plus 325 bps, 1% Libor floor, OID 99, 101 soft call; JPMorgan, Bank of America, Barclays and Deutsche Bank; refinance existing debt; Parsippany, N.J., vehicle rental operator.

BI-LO LLC: $700 million senior secured asset-based revolver talked at Libor plus 200 bps; Citigroup and Deutsche Bank; help fund acquisition of Winn-Dixie Stores Inc.; Greenville, S.C., operator of supermarkets.

BJ'S WHOLESALE CLUB INC.: $1.075 billion first-lien term loan (B1) talked at Libor plus 400 bps to 425 bps, 1.25% Libor floor; Deutsche Bank; repricing existing loan; Westborough, Mass., operator of warehouse clubs.

CENTAUR LLC: $240 million credit facility (B2/B+); Credit Suisse and Macquarie; $10 million five-year revolver talked at Libor plus 575 bps; $230 million six-year term loan talked at Libor plus 575 bps, 1.25% Libor floor, OID 98, 101 soft call; refinance existing debt; Indianapolis-based casino operator.

COLONIAL MANAGEMENT: $69 million credit facility; SunTrust; $3 million revolver talked at Libor plus 225 bps; $66 million term loan talked at Libor plus 225 bps; refinance existing debt and general corporate purposes; Florida-based operator of methadone clinics.

COMMSCOPE INC.: $992.5 million term B (Ba3/BB) due Jan. 14, 2018 talked at Libor plus 325 bps, 1% Libor floor, OID 99, 101 soft call; JPMorgan; refinance existing term B; Hickory, N.C., provider of infrastructure services for communication networks.

COMMUNITY HEALTH SYSTEMS INC.: $1.2 billion 4½ year credit facility (Ba3/BB); Credit Suisse, Bank of America, Citigroup, JPMorgan, Wells Fargo, California Bank, RBC and SunTrust; $700 million revolver talked at Libor plus 250 bps, 50 bps unused fee; $500 million term A talked at Libor plus 250 bps; pay down non-extended loans; Nashville, Tenn., operator of hospitals.

EMI MUSIC PUBLISHING: $1.225 billion senior secured credit facility (Ba3/BB-); UBS; $75 million five-year revolver at Libor plus 475 bps, 75 bps unused fee, 1.25% Libor floor; $1.15 billion six-year term B at Libor plus 425 bps, 1.25% Libor floor, OID 99, 101 soft call; help fund purchase of EMI Music Publishing by Sony Corp. of America, the Estate of Michael Jackson, Mubadala Development Co. PJSC, Jynwel Capital Ltd., GSO Capital Partners LP and David Geffen from Citigroup Inc.; New York-based owner and administrator of copyrights by artists.

ENERGY TRANSFER EQUITY LP: Expected close week of March 19; $2.25 billion five-year senior secured term B (Ba2/BB-) talked at Libor plus 350 bps, 1% Libor floor, OID 981/2, 101 soft call; Credit Suisse, Wells Fargo, BNP Paribas, RBS and SunTrust; help fund acquisition of Southern Union Co.; Dallas-based energy-related services company.

ENNIS-FLINT: $405 million credit facility; Credit Suisse; $50 million five-year revolver talked at Libor plus 500 bps, 1.25% Libor floor, OID 981/2; $240 million six-year first-lien term B talked at Libor plus 500 bps, 1.25% Libor floor, OID 981/2, 101 soft call; $115 million 61/2-year second-lien term loan talked at Libor plus 900 bps, 1.25% Libor floor, OID 98, call protection 103, 102, 101; refinance existing debt in connection with the merger of Ennis Traffic Safety Solutions and Flint Trading Inc.; provider of pavement markings.

EVERYWARE: $225 million credit facility; Barclays leading term B, Wells Fargo leading revolver; $150 million 51/2-year term B (B3/B) talked at Libor plus 775 bps, 1.5% Libor floor, OID 98, call protection 102, 101; $75 million five-year ABL revolver; refinance existing debt and pay dividend in connection with the formation of the company through merger of Oneida Ltd. and Anchor Hocking Co.; tabletop brand, and manufacturer and marketer of foodservice and retail glassware.

FREIF NORTH AMERICAN POWER I: $243 million credit facility (Ba3/BB-); Deutsche Bank, Barclays, Citigroup and Macquarie; $210 million seven-year term loan at Libor plus 450 bps, 1.5% Libor floor, OID 98, 101 call protection; $33 million seven-year letter of credit facility at Libor plus 450 bps, OID 98; help fund acquisition by First Reserve Corp. and CalPERS of a diversified portfolio of U.S. contracted natural gas fired power generation plants from Arclight Capital.

GO DADDY OPERATING CO. LLC: $748 million senior secured term loan talked at Libor plus 425 bps, 1.25% Libor floor, 101 soft call; Barclays, Deutsche Bank and RBC; refinance/reprice existing term loan; Scottsdale, Ariz., provider of web hosting and domain names.

GRAPHIC PACKAGING INTERNATIONAL INC.: $2 billion credit facility (Ba2/BBB); Bank of America, SunTrust, Citigroup, Goldman Sachs and JPMorgan; $800 million revolver talked at Libor plus 225 bps; $800 million term A talked at Libor plus 225 bps; $400 million term B (not launched yet); refinance existing debt; Marietta, Ga., provider of packaging services.

GREAT ATLANTIC & PACIFIC TEA CO. INC.: $645 million five-year exit facility; JPMorgan and Credit Suisse; $375 million ABL revolver; $270 million term loan (B3/B+) at Libor plus 900 bps, 2% Libor floor, OID 96, non-call two, 1021/2; repay DIP and for general corporate purposes; Montvale, N.J., operator of supermarkets.

ISTAR FINANCIAL INC.: $900 million of senior secured term loans; Barclays, Bank of America, JPMorgan; $500 million first-out four-year term A-1 talked at Libor plus 400 bps, 1.25% Libor floor, OID 98½ to 99, call protection 101, par 1/2; $400 million second-out five-year term A-2 talked at Libor plus 575 bps, 1.25% Libor floor, OID 98½ to 99, non-call three, 104, par; refinance 2012 unsecured debt maturities; New York-based finance and investment company focused on the commercial real estate industry.

LATSHAW DRILLING & EXPLORATION: $100 million ABL revolver at Libor plus 275 bps; SunTrust; refinance existing debt and for general corporate purposes; Tulsa, Okla., driller of oil and natural gas wells.

MOHEGAN TRIBAL GAMING AUTHORITY: $700 million credit facility; Wells Fargo, Bank of America and Credit Suisse; $225 million last-out, first-loss term loan (B3) at Libor plus 750 bps, 1.5% Libor floor, OID 98, non-call two; $75 million revolver due March 31, 2015; $400 million term A due March 31, 2015; refinance existing debt; Uncasville, Conn., operator of gaming and entertainment enterprises.

NXP SEMICONDUCTORS: Expected close on or by March 19; $475 million seven-year incremental term B (B2/B+) talked at Libor plus 400 bps, 1.25% Libor floor, OID 981/2, non-call one, 101; Morgan Stanley and Bank of America; refinance senior notes; Eindhoven, Netherlands, provider of mixed-signal products and semiconductor components.

RCN: $125 million add-on term loan B (B1/B) due August 2016 talked at Libor plus 450 bps, 2% Libor floor, OID 99; SunTrust, GE Capital and TD Securities; fund a dividend; Herndon, Va., broadband services provider.

REXNORD LLC: $1.13 billion credit facility (Ba3/BB-); Credit Suisse, Deutsche Bank, Bank of America, Barclays, Goldman Sachs, BMO and Sumitomo; $180 million five-year revolver talked at Libor plus 425 bps, 1% Libor floor, OID 99; $950 million six-year first-lien term loan talked at Libor plus 425 bps, 1% Libor floor, OID 99, 101 soft call; refinance existing term loan and revolver debt; Milwaukee-based industrial company.

SEMTECH CORP.: $350 million of five-year term loans (Ba2); Jefferies; $100 million term A at Libor plus 275 bps, step-down to Libor plus 250 bps at 1.5x gross leverage, OID 991/2; $250 million term B at Libor plus 325 bps, 1% Libor floor, OID 99; help fund acquisition of Gennum Corp.; Camarillo, Calif., supplier of analog and mixed-signal semiconductors.

SLEEPY'S INTERMEDIATE LLC: $170 million seven-year first-lien term loan (B2/B-) talked at Libor plus 600 bps, 1.25% Libor floor, OID 98, 101 soft call; Credit Suisse; refinance existing debt and pay a dividend; specialty mattress retailer.

SONNEBORN LLC: Expected close March 30; $270 million credit facility (B1/B); Macquarie and BMO; $30 million five-year revolver; $240 million six-year term B talked at Libor plus 550 bps area, 1.5% Libor floor, OID 98; fund buyout by One Equity Partners from Sun Capital Partners Inc.; Parsippany, N.J., manufacturer and supplier of high-purity specialty hydrocarbons.

SWIFT TRANSPORTATION CO.: $1.274 billion credit facility; Bank of America, Morgan Stanley and Wells Fargo; $400 million revolver due Sept. 21, 2016; $200 million term B-1 (BB) due Dec. 21, 2016 at Libor plus 375 bps, step down to Libor plus 350 bps at less than 2.75x gross leverage, OID 993/4, 101 soft call; $674 million term B-2 (BB) due Dec. 15, 2017 at Libor plus 375 bps, step down to Libor plus 350 bps at less than 2.75x gross leverage, 1.25% Libor floor, OID 993/4, 101 soft call; reprice and extend the maturities of existing senior secured credit facility; Phoenix-based transportation services company and truckload carrier.

TENNECO INC.: $950 million credit facility; JPMorgan; $700 million revolver talked at Libor plus 250 bps; $250 million term A talked at Libor plus 250 bps; refinance existing debt; Lake Forest, Ill., designer, manufacturer and seller of emission control and ride control products and systems for light, commercial and specialty vehicle applications.

TI GROUP AUTOMOTIVE LLC: $550 million six-year term B talked at Libor plus 550 bps, 1.25% Libor floor, OID 97, 101 soft call; JPMorgan; refinance existing term loan and fund a dividend; Auburn Hills, Mich., automotive supplier focused on fluid storage, transfer and delivery technology.

TROPICANA ENTERTAINMENT INC.: $175 million six-year first-lien term B (B2/BB+) at Libor plus 600 bps, 1.5% Libor floor, OID 98, 101 soft call; UBS; refinance existing debt and add cash to balance sheet; Las Vegas-based owner and operator of casino gaming properties.

VANTIV LLC: Up to $1.6 billion credit facility (Ba2); JPMorgan, Morgan Stanley, Credit Suisse and Fifth Third; $250 million five-year revolver talked at Libor plus 225 bps, 50 bps unused fee; $1 billion five-year term A talked at Libor plus 225 bps; $250 million to $350 million seven-year term B talked at Libor plus 300 bps, 1% Libor floor, OID 99; refinance existing debt; Cincinnati-based integrated payment processor serving merchants and financial institutions.

WCA WASTE CORP.: $375 million credit facility (B1/B+); Credit Suisse and Macquarie; $100 million five-year revolver talked at Libor plus 500 bps, 1.25% Libor floor, OID 981/2; $275 million six-year term loan talked at Libor plus 500 bps, 1.25% Libor floor, OID 981/2, 101 soft call; refinance debt in connection with buyout by Macquarie Infrastructure Partners II; Houston-based non-hazardous solid-waste services company.

WEIGHT WATCHERS INTERNATIONAL INC.: Up to $1.5 billion term loans; JPMorgan, Credit Suisse, Bank of America and Scotia Capital; $900 million to $1 billion term E due March 2017 talked at Libor plus 225 bps; $500 million to $600 million term F due March 2019 talked at Libor plus 275 bps to 300 bps, 1% Libor floor, OID 99; fund repurchase of common stock and amend and existing loan; New York-based provider of weight-management services.

On The Horizon

ANGIODYNAMICS: $200 million five-year credit facility; JPMorgan; Bank of America, KeyBanc; $150 million term loan expected at Libor plus 250 bps; $50 million revolver; help fund acquisition of Navilyst Medical from Avista Capital Partners; Latham, N.Y., provider of medical devices.

EP ENERGY CORP.: $2 billion reserve-based revolver; JPMorgan, Citigroup, Credit Suisse, Deutsche Bank, BMO, RBC, UBS and Nomura; help fund buyout by Apollo Global Management LLC, Riverstone Holdings LLC, Access Industries Inc. and other investors from El Paso Corp.; Houston-based oil and natural gas exploration and production company.

GLOBEOP FINANCIAL SERVICES: New credit facility; Credit Suisse and UBS; help fund buyout by TPG; London and New York-based provider of business process outsourcing, financial technology services and analytics.

KAYDON CORP.: New credit facility; revolver; term loan; help fund special cash dividend to shareholders; Ann Arbor, Mich.-based designer and manufacturer of custom engineered, performance-critical products, supplying alternative energy, military, industrial, aerospace, medical and electronic equipment and aftermarket customers.

NEW ENTERPRISE STONE & LIME CO. INC.: $170 million asset-based revolver; refinance existing debt; New Enterprise, Pa., construction materials supplier and heavy/highway construction contractor.

PEP BOYS - MANNY, MOE & JACK: $875 million credit facility; Credit Suisse (left on term loans), Barclays and Wells Fargo (left on revolver); $325 million asset-based revolver; $425 million first-lien term loan; $125 million second-lien term loan; help fund buyout by Gores Group; Philadelphia-based automotive aftermarket chain.

QUICKSILVER PRODUCTION PARTNERS LP: New revolver; 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.

SS&C TECHNOLOGIES INC.: $175 million senior secured term loan; Bank of America; fund acquisition of Thomson Reuters PORTIA business; Windsor, Conn., provider of financial services software and software-enabled services.

STANDARD PARKING CORP.: $450 million five-year senior secured credit facility; Bank of America, Wells Fargo and JPMorgan; $200 million revolver expected at Libor plus 325 bps, 40 bps unused fee; $250 million term loan expected at Libor plus 325 bps; in connection with merger with Central Parking Corp. to refinance debt; Chicago-based provider of parking facility management, ground transportation and other ancillary services.

VENOCO INC.: New bank borrowings; help fund buyout by Timothy M. Marquez, chairman and chief executive officer; Denver-based energy company.

VOXX INTERNATIONAL CORP.: New credit facility; Wells Fargo; revolver; term loan; help fund acquisition of Car Communication Holding GmbH; Hauppauge, N.Y., automotive and consumer electronics and accessories company.

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

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


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