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Published on 4/11/2012 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $26.930 billion deals being marketed

April Bank Meetings

OSMOSE HOLDINGS INC.: Bank meeting April 12; $265 million credit facility (B+); Credit Suisse and Macquarie; $25 million five-year revolver; $240 million six-year first-lien term loan talked at Libor plus 550 bps, 1.25% Libor floor, OID 98, 101 soft call; fund buyout by Oaktree Capital; Buffalo, N.Y., provider of wood preservation technology as well as utility and railroad asset management.

PEP BOYS - MANNY, MOE & JACK: Bank meeting expected April 18; $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.

SEITEL INC.: Bank meeting April 12; $275 million six-year term B (B3) talked at Libor plus 700 bps, 1.5% Libor floor, OID 98 to 99; Wells Fargo and Jefferies; repurchase notes; Houston-based provider of seismic services to the energy industry.

Upcoming Closings

4L HOLDINGS: $300 million six-year term B talked at Libor plus 500 bps, 1.25% Libor floor, OID 981/2; JPMorgan; refinance existing debt.

ALLIANCE LAUNDRY SYSTEMS LLC: $350 million five-year credit facility (B1/BB-); Bank of America, BMO, Morgan Stanley and Fifth Third; $75 million revolver at Libor plus 275 bps; $275 million term A at Libor plus 275 bps; refinance existing credit facility, pay a special dividend and general corporate purposes; Ripon, Mass., designer, manufacturer and marketer of commercial laundry equipment.

ALON USA ENERGY INC.: $700 million six-year secured term B (B2/B+) talked at Libor plus 525 bps, 1.25% Libor floor, OID 98, 101 soft call; Goldman Sachs; repay existing term loan and retire senior secured notes; Dallas-based refiner and marketer of petroleum products.

APTALIS PHARMA INC.: $200 million five-year senior secured incremental term B (B2/B+) at Libor plus 400 bps, 1.5% Libor floor, OID 98; Bank of America, Barclays and RBC; prepay notes; Bridgewater, N.J., specialty pharmaceutical company.

AUTOTRADER.COM: $400 million pro rata debt (Ba3/BB+); Wells Fargo, SunTrust and JPMorgan; $200 million incremental term A due 2017 talked at Libor plus 225 bps; $200 million incremental revolver due 2015 talked at Libor plus 225 bps; fund a dividend; Atlanta-based automotive marketplace and consumer information website.

AVETA INC.: $575 million five-year credit facility (B1/B+); Bank of America, Citigroup and Jefferies; $50 million revolver at Libor plus 650 bps, 2% Libor floor, OID 97; $525 million term B at Libor plus 650 bps, 2% Libor floor, OID 97, soft call 102, 101; refinance existing debt and fund a dividend; Fort Lee, N.J., medical management company.

CATAPULT LEARNING: $93 million credit facility; BMO; $15 million revolver talked at Libor plus 525 bps, 1.5% Libor floor, OID 981/4; $12 million delayed-draw term loan talked at Libor plus 525 bps, 1.5% Libor floor, OID 981/4; $66 million term loan talked at Libor plus 525 bps, 1.5% Libor floor, OID 981/4; refinance existing debt and fund a dividend; Camden, N.J., provider of contracted educational services to schools and districts.

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.

CONSTELLATION BRANDS INC.: $1.65 billion senior credit facility; Bank of America, JPMorgan, Rabo Securities and Barclays; $850 million five-year revolver talked at Libor plus 175 bps; $550 million five-year term loan talked at Libor plus 175 bps; $250 million seven-year term loan talked at Libor plus 200 bps; refinance an existing senior credit facility; Victor, N.Y., wine company.

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.

ENDURANCE INTERNATIONAL GROUP: $535 million six-year term B (B1/B) talked at Libor plus 625 bps, 1.5% Libor floor, OID 99, 101 soft call; Credit Suisse, Goldman Sachs and Morgan Stanley; take out preferred notes, refinance existing term B and to add cash to the balance sheet; Burlington, Mass., provider of web hosting and online services to small- and medium-sized businesses.

EP ENERGY CORP.: $2.75 billion credit facility; JPMorgan, Citigroup, Credit Suisse, Deutsche Bank, BMO, RBC, UBS and Nomura; $2 billion reserve-based revolver with grid ranging from Libor plus 150 bps to 250 bps based on utilization; $750 million covenant-light term loan (Ba3/BB-) due 2018 at Libor plus 525 bps, 1.25% Libor floor, OID 99, 101 soft call; 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.

FREEDOM GROUP INC.: $330 million seven-year covenant-light term B (Ba3/B+) talked at Libor plus 450 bps, 1.25% Libor floor, OID 99, 101 soft call; Bank of America, Deutsche Bank and RBC; repurchase notes; Madison, N.C., designer, manufacturer and marketers of firearms, ammunition and related products.

GLOBAL TEL*LINK CORP.: $620 million term loan talked at Libor plus 450 bps, 1.25% Libor floor, 101 soft call; Credit Suisse and UBS; reprice existing term loan; Mobile, Ala., correctional communications technology company.

GOODYEAR TIRE & RUBBER CO.: Up to $1.2 billion senior secured second-lien term loan (Ba1/BB) talked at Libor plus 375 bps, 1% Libor floor, OID 98 to 981/2, 101 soft call; JPMorgan, Deutsche Bank, BNP Paribas, Citigroup, Credit Agricole, Goldman Sachs and Wells Fargo; refinance existing second-lien term loan; Akron, Ohio, tire company.

HANDY & HARMAN LTD.: $200 million term B (B3/B) talked at Libor plus 550 bps, 1.25% Libor floor, OID 99, 101 soft call; Wells Fargo and Bank of America; refinance existing debt; White Plains, N.Y., industrial company involved in precious metals, tubing and engineered materials.

HD SUPPLY INC.: $2.5 billion credit facility; Bank of America, Goldman Sachs, Barclays, JPMorgan, Credit Suisse, Deutsche Bank, Wells Fargo and UBS on term B, GE Capital and Wells Fargo leading ABL revolver (BB-); $1 billion 51/2-year term B (B2/B+) at Libor plus 600 bps, 1.25% Libor floor, OID 97, non-call one, 102, 101; $1.5 billion ABL revolver talked at Libor plus 200 bps; refinance existing debt; Atlanta-based wholesale distributor for the infrastructure & energy, maintenance, repair & improvement and specialty construction sectors.

HELP/SYSTEMS INC.: $200 million five-year credit facility; GE Capital and NXT; $25 million revolver talked at Libor plus 550 bps, 1.25% Libor floor, OID 981/2; $175 million term loan talked at Libor plus 550 bps, 1.25% Libor floor, OID 981/2; help fund buyout by Summit Partners; Eden Prairie, Minn., provider of automated operations and business intelligence software for the IBM System i market.

INTERNATIONAL LEASE FINANCE CORP.: $550 million senior secured term loan (Ba3/NA/BB) at Libor plus 375 bps, 1% Libor floor, OID 991/2; Bank of America, Citigroup and Goldman Sachs; refinance an existing term loan; Los Angeles-based independent aircraft lessor.

KEY SAFETY SYSTEMS INC.: $75 million add-on term B due March 2014 talked at Libor plus 225 bps, OID 96 area; UBS and Citigroup; refinance revolver debt and provide additional liquidity; Sterling Heights, Mich., supplier of automotive safety components and systems.

LANDRY'S INC.: $1.2 billion credit facility; Jefferies; $200 million five-year revolver talked at Libor plus 400 bps; $1 billion six-year term B talked at Libor plus 525 bps, 1.25% Libor floor, OID 981/2, 101 soft call; refinance existing debt; Houston-based full-service restaurant, hospitality and entertainment company.

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.

MEGAPATH CORP.: $175 million credit facility; Societe Generale; $25 million five-year revolver talked at Libor plus 625 bps, 1.25% Libor floor; $150 million six-year term loan talked at Libor plus 625 bps, 1.25% Libor floor, OID 981/2; refinance existing bank debt; provider of managed data, voice and security services.

MOTORCITY CASINO HOTEL: Roughly $590 million term loan B talked at Libor plus 475 bps, 1.25% Libor floor; Bank of America; repricing existing B loan; casino in Detroit.

NORTH AMERICAN BANCARD: $160 million credit facility (Ba3/BB+); Credit Suisse and Goldman Sachs; $10 million five-year revolver talked at Libor plus 550 bps, 1.5% Libor floor, OID 98; $150 million six-year term loan talked at Libor plus 550 bps, 1.5% Libor floor, OID 98, 101 soft call; repay existing debt and fund a dividend; Troy, Mich., merchant acquirer for payment processing.

ON ASSIGNMENT INC.: $540 million senior secured credit facility (Ba3); Wells Fargo, Bank of America and Deutsche Bank; $50 million revolver talked at Libor plus 325 bps; $490 million term loan talked at Libor plus 375 bps, 1.25% Libor floor, OID 99, 101 soft call; help fund purchase of Apex Systems Inc. and refinance debt; Calabasas, Calif., provider of professionals in the technology, health care and life sciences sectors.

PHYSIOTHERAPY ASSOCIATES: $125 million credit facility (Ba2/BB-); Jefferies, GE Capital and RBC; $25 million five-year revolver talked at Libor plus 500 bps, 1.5% Libor floor, OID 98; $100 million six-year term B talked at Libor plus 500 bps, 1.5% Libor floor, OID 98; help fund buyout by Court Square Capital Partners; Exton, Pa., provider of outpatient rehabilitation services.

PINNACLE FOODS FINANCE LLC: $550 million credit facility (Ba3/B+); Barclays, Bank of America, JPMorgan and Macquarie; $150 million five-year revolver talked at Libor plus 350 bps; $400 million term E at Libor plus 350 bps, 1.25% Libor floor, OID 99, 101 soft call; repay term D and redeem 10 5/8% notes; Mountain Lakes, N.J., manufacturer and distributor of branded packaged foods.

PLATO LEARNING: $390 million credit facility; Credit Suisse and Jefferies; $25 million five-year revolver (Ba3) talked at Libor plus 450 bps to 475 bps, 1.25% Libor floor, OID 981/2; $240 million six-year first-lien term loan (Ba3) talked at Libor plus 450 bps to 475 bps, 1.25% Libor floor, OID 981/2, 101 soft call; $125 million seven-year second-lien term loan (Caa1) talked at Libor plus 875 bps to 900 bps, 1.25% Libor floor, OID 98, call protection 103, 102, 101; help fund acquisition of Archipelago Learning; Bloomington, Minn., provider of education technology services.

PQ CORP.: $200 million add-on first-lien term loan (B3/B+) due July 30, 2014 at Libor plus 375 bps, OID 971/2; Credit Suisse; pay down revolver debt; Malvern, Pa., producer of specialty chemicals and catalysts.

PREFERRED SANDS LLC: $125 million add-on term B (B2/B+) due Dec. 15, 2016 at Libor plus 600 bps, 1.5% Libor floor, OID 98, 101 soft call through Dec. 15, 2012; Barclays; acquire some class A minority investor interests, fund a distribution to remaining investors and general corporate purposes; Radnor, Pa., provider of silica sand products.

PRESS GANEY ASSOCIATES INC.: $445 million credit facility; Barclays, Goldman Sachs and GE Capital; $20 million revolver (B1/B) talked at Libor plus 400 bps; $335 million first-lien term B (B1/B) talked at Libor plus 400 bps, 1.25% Libor floor, OID 99, 101 soft call; $90 million second-lien term loan (Caa1/CCC+) talked at Libor plus 700 bps, 1.25% Libor floor, OID 99, call protection 102, 101; refinance existing debt; South Bend, Ind., provider of health care performance improvement services.

PROMETRIC INC.: Expected close mid-April 9 week; $175 million credit facility (Ba1/BBB); TD Securities; $10 million revolver at Libor plus 200 bps; $165 million term loan at Libor plus 200 bps; refinance existing debt; Baltimore-based provider of technology-based assessment services.

PROQUEST LLC: Up to $190 million credit facility (Ba3/B+); Morgan Stanley and Bank of America; up to $40 million five-year revolver; up to $150 million six-year term B talked at Libor plus 450 bps to 475 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance existing first-lien credit facility and general corporate purposes; Ann Arbor, Mich., electronic publisher and microfilm publisher.

SAFENET INC.: $150 million incremental first-lien term loan B (B1/B+) due 2018 talked at Libor plus 450 bps, 1.25% Libor floor, OID 981/2, 101 soft call; JPMorgan and Deutsche Bank; fund a distribution to shareholders; Belcamp, Md., provider of information security software and encryption technology.

SBA COMMUNICATIONS CORP.: $200 million five-year amortizing term A (Ba2/BB) talked at Libor plus 250 bps; TD Securities, Wells Fargo, Citigroup, RBS and Deutsche Bank; general corporate purposes, including revolver paydown; Boca Raton, Fla., provider, owner and operator of wireless communications infrastructure.

SCHRADER: $365 million credit facility; Barclays, Goldman Sachs and Citigroup; $35 million revolver (B1/B); $230 million first-lien term loan (B1/B) talked at Libor plus 450 bps to 475 bps, 1.25% Libor floor, OID 981/2, 101 soft call; $100 million second-lien term loan (Caa1/B-) talked at Libor plus 850 bps to 900 bps, 1.25% Libor floor, OID 98, call protection 103, 102, 101; help fund buyout by Madison Dearborn Partners LLC from Tomkins; manufacturer of tire pressure monitoring systems, valve products and tire hardware and related accessories.

SKILLED HEALTHCARE GROUP INC.: $100 million add-on senior secured term loan B (B1) due April 9, 2016 at Libor plus 525 bps, 1.5% Libor floor, OID 98, 101 soft call; JPMorgan and Credit Suisse; refinance subordinated notes; Foothill Ranch, Calif., operator of skilled nursing facilities, assisted living facilities, rehabilitation therapy and hospice businesses and home health care.

SLS LAS VEGAS (STOCKBRIDGE/SBE HOLDINGS LLC): $300 million five-year term B (B2/B-) talked at Libor plus 850 bps, 2% Libor floor, OID 98, non-call two, 102, 101; JPMorgan; fund the renovation of the SLS Las Vegas; Las Vegas-based hotel and casino operator.

SPIRIT AEROSYSTEMS INC.: $1.2 billion credit facility (Ba1); Bank of America, Scotia Capital, Citigroup, RBC, RBS and Morgan Stanley; $650 million five-year revolver talked with leverage-based grid ranging from Libor plus 175 bps to 250 bps; $550 million seven-year term B talked at Libor plus 300 bps, 0.75% Libor floor, OID 99 to 991/2; refinance existing revolver and term loans; Wichita, Kan., non-OEM designer and manufacturer of aerostructures for commercial aircraft.

SPROUTS FARMERS MARKET: $100 million add-on term loan (B2/B+) at Libor plus 475 bps, 1.25% Libor floor, OID 981/2; Jefferies, Apollo Global Securities and Natixis; help fund acquisition of Sunflower Farmers Market; Phoenix-based grocer that operates in the farmers' market specialty segment of the retail food industry.

SYNIVERSE TECHNOLOGIES: $1.075 billion credit facility; Barclays, Credit Suisse and Deutsche Bank; $150 million five-year revolver; $925 million seven-year covenant-light term B talked at Libor plus 350 bps, 1.25% Libor floor, OID 991/2, 101 soft call; refinance an existing credit facility; Tampa, Fla., provider of technology and business services for the telecommunications industry.

THERMASYS CORP.: $123 million of add-on loans; GE Capital; $15 million add-on revolver at Libor plus 500 bps, 1.25% Libor floor, OID 991/2; $108 million add-on term B at Libor plus 500 bps, 1.25% Libor floor, OID 991/2; fund an acquisition; Montgomery, Ala., supplier of highly engineered copper/brass and aluminum heat exchanger components and assemblies.

TRICORBRAUN: $555 million credit facility (B1/B); GE Capital and UBS; $75 million revolver; $480 million term B talked at Libor plus 425 bps to 450 bps, 1.25% Libor floor, OID 99; refinance existing debt and fund a dividend; St. Louis-based designer and deliverer of rigid packaging.

TRIDENTUSA HEALTH SERVICES: $325 million credit facility; Credit Suisse, GE Capital and Madison Capital; $50 million four-year revolver (Ba3) talked at Libor plus 525 bps, 1.25% Libor floor, OID 981/2; $175 million five-year first-lien term loan (Ba3) talked at Libor plus 525 bps, 1.25% Libor floor, OID 981/2, 101 soft call; $100 million 51/2-year second-lien term loan (Caa1) talked at Libor plus 900 bps, 1.25% Libor floor, OID 97, non-call one, 103, 102, 101; refinance debt and pay a dividend; Burbank, Calif., provider of bedside diagnostics services.

WENDY'S INTERNATIONAL INC.: Expected close May 15; $1.325 billion senior secured credit facility (B1/BB-); Bank of America and Wells Fargo; $200 million five-year revolver; $1.125 billion seven-year term B talked at Libor plus 350 bps to 375 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance an existing credit facility, repurchase notes and for general corporate purposes; Dublin, Ohio, quick-service hamburger chain.

WIL RESEARCH CO. INC.: $140 million credit facility; GE Capital; $20 million five-year revolver talked at Libor plus 525 bps to 550 bps, 1.5% Libor floor, OID 99; $120 million six-year term loan talked at Libor plus 525 bps to 550 bps, 1.5% Libor floor, OID 981/2; refinance existing debt; Ashland, Ohio, provider of product safety toxicological research, bioanalytical, and formulation services, as well as manufacturing support for clinical trials.

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.

BAUSCH & LOMB: $350 million incremental term loan; Citigroup, JPMorgan, Credit Suisse, Goldman Sachs and Bank of America; help fund acquisition of ISTA Pharmaceuticals Inc.; Rochester, N.Y., eye health company.

EMDEON INC.: Credit facility repricing and $60 million add-on term loan; Bank of America, Citigroup and Barclays; add-on for general corporate purposes; Nashville-based provider of healthcare revenue and payment cycle management and clinical information exchange services.

MILACRON LLC: New debt financing; Bank of America, RBC, Barclays and Keybanc; help fund buyout by CCMP from Avenue Capital Group; Cincinnati-based manufacturer and supplier of plastics-processing technologies and metalworking fluids.

MISYS PLC: $1.775 billion credit facility; Credit Suisse (left lead on first-lien), Bank of America (left lead on unsecured) and Jefferies; $100 million five-year revolver expected at Libor plus 425 bps, step down to Libor plus 400 bps at less than 5x leverage, 50 bps unused fee; $1.06 billion seven-year term loan, split into U.S. piece expected at Libor plus 450 bps, step down to Libor plus 425 bps at less than 5x leverage, 1.25% Libor floor, 101 soft call and a euro piece expected at Euribor plus 500 bps, step down to Euribor plus 475 bps at less than 5x leverage, 1.25% floor, 101 soft call; $615 million 71/2-year unsecured term loan expected at 9%, non-call three, 1063/4, 1041/2, 1021/4; help fund buyout by Vista Equity Partners; London-based application software and services provider servicing the financial services industry.

QUEST SOFTWARE INC.: New credit facility; JPMorgan, RBC and Barclays; help fund buyout by Insight Venture Partners; Aliso Viejo, Calif., provider of IT management services.

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.

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.

ZAYO GROUP LLC: New debt financing; Morgan Stanley and Barclays; help fund acquisition of AboveNet Inc. and refinance some debt; Louisville, Colo., provider of fiber-based bandwidth infrastructure and network-neutral colocation and interconnection services.


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