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Published on 4/20/2012 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $26.022 billion deals being marketed

April Bank Meetings

EVO PAYMENTS INTERNATIONAL: Bank meeting April 25; $195 million five-year credit facility; SunTrust and Fifth Third; $115 million revolver talked at Libor plus 250 bps; $80 million term A talked at Libor plus 250 bps; refinance existing debt; Melville, N.Y., credit card processor.

HOFFMASTER GROUP INC.: Launch April 23; $250 million first-lien term loan (including $15 million add-on), 101 soft call; GE Capital, Jefferies and Macquarie; also $23 million add-on second-lien term loan; reprice existing first-lien term loan and pay down holdco debt; Oshkosh, Wis., producer of specialty disposable tabletop products.

PEP BOYS - MANNY, MOE & JACK: Bank meeting expected April 23 week; $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.

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.

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.

BAUSCH & LOMB: $3.485 billion credit facility (B1/B+); Citigroup, JPMorgan, Credit Suisse, Goldman Sachs and Bank of America; $500 million revolver; $2.035 billion covenant-light term B talked at Libor plus 375 bps to 400 bps, 1% Libor floor, OID 99, 101 soft call; $600 million covenant-light euro term B talked at Euribor plus 400 bps to 425 bps, 1% floor, OID 99, 101 soft call; $350 million covenant-light delayed-draw term loan talked at Libor plus 375 bps to 400 bps, 1% Libor floor, OID 99, 101 soft call; help fund acquisition of ISTA Pharmaceuticals Inc. and refinance debt; Rochester, N.Y., eye health company.

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.

EMERALD PERFORMANCE MATERIALS LLC: $270 million six-year first-lien term B (B1/B) talked at Libor plus 550 bps, 1.25% Libor floor, OID 981/2, 101 soft call; Jefferies; also $75 million ABL revolver; refinance existing debt; Cuyahoga Falls, Ohio, producer and marketer of specialty chemicals for food and industrial applications.

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) 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+) at Libor plus 425 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.

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.

HELP/SYSTEMS INC.: $200 million five-year credit facility; GE Capital and NXT; $25 million revolver; $175 million term loan at Libor plus 550 bps, with leverage-based step-downs, 1.25% Libor floor, OID 99; help fund buyout by Summit Partners; Eden Prairie, Minn., provider of automated operations and business intelligence software for the IBM System i market.

INEOS GROUP HOLDINGS SA: $1.5 billion dollar and euro covenant-light term B (B1) split between a roughly $300 million three-year tranche talked in the low-6% area (including 1.25% floor) and a roughly $1.2 billion six-year tranche talked in the low-7% area (including 1.25% floor), soft call 102, 101; Barclays, JPMorgan, Goldman Sachs and UBS; refinance senior secured debt; Lyndhurst, England, chemical company.

LANDRY'S INC.: $1.225 billion credit facility (B1/B+); Jefferies; $200 million five-year revolver at Libor plus 400 bps; $1.025 billion six-year term B 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.

MSCI INC.: $700 million five-year credit facility (Ba1/BBB); Morgan Stanley and JPMorgan; $100 million revolver talked at Libor plus 225 bps; $600 million term A talked at Libor plus 225 bps; refinance existing revolver and repay some term B; New York-based provider of investment decision support tools.

NGPL PIPECO LLC: $675 million five-year credit facility (NA/BB-/BB-); Credit Suisse, Barclays and RBC; $75 million revolver talked at Libor plus 425 bps, 1.25% Libor floor, OID 981/2; $600 million term B talked at Libor plus 425 bps, 1.25% Libor floor, OID 981/2, 101 soft call; help fund notes tender offer and general corporate purposes; Houston-based natural gas transportation and storage company.

NORTH AMERICAN BANCARD: $160 million credit facility (Ba3/BB+); Credit Suisse and Goldman Sachs; $10 million five-year revolver at Libor plus 550 bps, 1.5% Libor floor; $150 million six-year term loan at Libor plus 550 bps, 1.5% Libor floor, OID 981/2, 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/BB-); 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.

OSMOSE HOLDINGS INC.: $265 million credit facility (B1/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.

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.

PLATO LEARNING: $390 million credit facility; Credit Suisse and Jefferies; $25 million five-year revolver (Ba3); $225 million six-year first-lien term loan (Ba3) talked at Libor plus 600 bps, 1.5% Libor floor, OID 97, 101 soft call; $140 million seven-year second-lien term loan (Caa1) talked at Libor plus 975 bps, 1.5% Libor floor, OID 98, non-call one, 103, 101; help fund acquisition of Archipelago Learning; Bloomington, Minn., provider of education technology services.

PRV AEROSPACE LLC: $220 million credit facility; GE Capital and KeyBanc; $30 million five-year revolver talked at Libor plus 475 bps, 1.5% Libor floor, OID 99; $190 million six-year term loan talked at Libor plus 475 bps, 1.5% Libor floor, OID 99; help fund buyout by Court Square Capital Partners from Platte River Ventures; Everett, Wash., aerospace and defense group.

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.

SCHIFF NUTRITION GROUP INC.: $200 million credit facility (B1/B); RBC and BMO; $50 million five-year revolver talked at Libor plus 450 bps to 475 bps; $150 million seven-year term loan talked at Libor plus 450 bps to 475 bps, 1.25% Libor floor, OID 99; fund already completed acquisition of Airborne Inc.; Salt Lake City-based nutritional supplement company.

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.

SEITEL INC.: $275 million six-year term B (B3/B) talked at Libor plus 700 bps, 1.5% Libor floor, OID 98 to 99, call protection 102, 101; Wells Fargo and Jefferies; repurchase notes; Houston-based provider of seismic services to the energy industry.

SLS LAS VEGAS (STOCKBRIDGE/SBE HOLDINGS LLC): $300 million five-year term B (B2/B-) at Libor plus 1,100 bps, 2% Libor floor, OID 95, non-call three, 106, 103; JPMorgan; fund the renovation of the SLS Las Vegas; Las Vegas-based hotel and casino operator.

SOPHOS LTD.: Roughly $438 million credit facility (B2); JPMorgan and RBC; $20 million five-year revolver; €75 million five-year term A; $320 million seven-year term B talked at Libor plus 450 bps, 1.25% Libor floor, OID 98½ to 99; refinance existing debt; IT security and data protection firm that has headquarters in Burlington, Mass., and Oxford, England.

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: $1.1 billion credit facility (BB-); Barclays, Credit Suisse and Deutsche Bank; $150 million five-year revolver; $950 million seven-year covenant-light term B at Libor plus 375 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance an existing credit facility; Tampa, Fla., provider of technology and business services for the telecommunications industry.

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.

UNIFRAX I LLC: Roughly $385 million covenant-light term loan B talked at Libor plus 500 bps, 1.5% Libor floor, 101 soft call through November 2012; Goldman Sachs; reprice existing term B; Niagara Falls, N.Y., supplier of high-temperature insulation products.

WABASH NATIONAL CORP.: $300 million seven-year senior secured term loan (B1/B+) talked at Libor plus 500 bps, 1.25% Libor floor, OID 99, 101 soft call; Morgan Stanley and Wells Fargo; help fund acquisition of Walker Group Holdings LLC; Lafayette, Ind., manufacturer of semi-trailers.

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 at Libor plus 350 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.

On The Horizon

AMWINS GROUP INC.: New debt financing; Credit Suisse and Goldman Sachs; help fund buyout by New Mountain Capital from Parthenon Capital Partners; Charlotte, N.C., specialty insurance broker.

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.

EDELMAN FINANCIAL GROUP INC.: About $190 million in loans or other funds; help fund buyout by Lee Equity Partners LLC; Houston-based wealth management firm.

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.: $895 million senior secured credit facility; JPMorgan, RBC and Barclays; $820 million term loan expected at Libor plus 475 bps; $75 million revolver expected at Libor plus 475 bps; 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.

ROOFING SUPPLY GROUP LLC: New debt financing; Deutsche Bank, Goldman Sachs, Credit Suisse and UBS; help fund buyout by Clayton, Dubilier & Rice LLC from Sterling Group; Dallas-based wholesale distributor of roofing supplies and related materials.

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.

SXC HEALTH SOLUTIONS CORP.: $1.8 billion credit facility; JPMorgan; $350 million five-year revolver expected at Libor plus 250 bps, 45 bps unused fee; $650 million five-year term A expected at Libor plus 250 bps; $800 million seven-year term B expected at Libor plus 325 bps, 1% Libor floor, 101 soft call; help fund acquisition of Catalyst Health Solutions Inc.; Lisle, Ill., provider of pharmacy benefits management and health care information technology services.

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

WOW! INTERNET, CABLE & PHONE: New senior secured first-lien credit facility; Credit Suisse, Morgan Stanley, RBC, SunTrust and Bank of Tokyo-Mitsubishi; help fund acquisition of Knology Inc.; Denver-based provider of residential and commercial high-speed internet, cable television and telephone services.

ZAYO GROUP LLC: $1.75 billion credit facility; Morgan Stanley and Barclays on term loan, SunTrust leading revolver; $250 million revolver; $1.5 billion senior secured term loan; 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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