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 6/20/2013 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $44.701 billion deals being marketed

Upcoming Closings

AIR CANADA: $1 billion six-year senior secured term B (B2/B/BB-) talked at Libor plus 425 bps to 450 bps, 1% Libor floor, OID 991/2, 101 soft call for six months; Citigroup, JPMorgan, Morgan Stanley and TD Securities; redeem notes; Saint-Laurent, Quebec, full-service airline.

ALIXPARTNERS LLP: $1 billion of new term loans; Deutsche Bank, Bank of America, Goldman Sachs, Jefferies and UBS; $750 million first-lien term loan (B1/B+) talked at Libor plus 375 bps to 400 bps, 1% Libor floor, OID 99 to 991/2, 101 soft call for six months; $250 million second-lien term loan (Caa1/B-) talked at Libor plus 775 bps to 800 bps, 1% Libor floor, OID 99, call protection 102, 101; recapitalization; New York-based performance improvement, corporate turnaround and financial advisory services firm.

ALLFLEX HOLDINGS: $910 million credit facility; Morgan Stanley, Bank of America, Goldman Sachs, RBC and Macquarie; $100 million revolver; $570 million seven-year first-lien term loan at Libor plus 325 bps, 1% Libor floor, OID 991/2, 101 soft call for six months; $240 million eight-year second-lien term loan at Libor plus 700 bps, 1% Libor floor, OID 99, call protection 102, 101; help fund buyout by BC Partners from Electra Partners; Vitré, France, producer of visual and electronic identification tags and other tracking products for livestock and other species.

AMERICAN CASINO & ENTERTAINMENT PROPERTIES LLC: $350 million credit facility; Goldman Sachs and Deutsche Bank; $15 million five-year revolver (B1/BB); $215 millions seven-year first-lien term loan (B1/BB) talked at Libor plus 425 bps, 1.25% Libor floor, OID 99, 101 soft call; $120 million 71/2-year second-lien term loan (Caa2/B-) talked at Libor plus 825 bps to 850 bps, 1.25% Libor floor, OID 98, non-call one, 102, 101; refinance notes; Las Vegas-based owner and operator of gaming and entertainment properties.

AMERICAN GREETINGS CORP.: $600 million credit facility (Ba2/BB-); Bank of America, Deutsche Bank, KeyBank, Macquarie Capital and PNC; $350 million six-year term loan at Libor plus 325 bps, 0.75% Libor floor, OID 991/2; $250 million five-year revolver at Libor plus 300 bps; help fund buyout by chief executive officer Zev Weiss and president and chief operating officer Jeffrey Weiss; Cleveland-based greeting card company.

AMF BOWLING CENTERS INC. (BOWLMOR AMF): $260 million credit facility (B2/B); Credit Suisse; $30 million five-year revolver; $230 million 53/4-year first-lien term loan talked at Libor plus 550 bps, 1.25% Libor floor, OID 99, 101 soft call; repay DIP and existing bank debt, and general corporate purposes, in connection with AMF Bowling and Bowlmor merger; Richmond, Va., bowling center operator.

AMR CORP.: $2.5 billion credit facility; Deutsche Bank, Citigroup, Barclays, Goldman Sachs, JPMorgan and Morgan Stanley; $1.5 billion six-year DIP/exit term loan (Baa2/BB-/BB-) talked at Libor plus 325 bps to 350 bps, 1% Libor floor, OID 99½ area, 101 soft call for six months; $1 billion revolver; Fort Worth, Texas, airline company.

ANCILE SOLUTIONS INC.: $165 million five-year credit facility; BMO and Madison Capital; $10 million revolver talked at Libor plus 450 bps, 1.25% Libor floor, OID 99; $155 million term loan talked at Libor plus 450 bps, 1.25% Libor floor, OID 99; refinance existing debt and fund a dividend; Elkridge, Md., provider of best-in-class learning and performance software services.

APPVION: $575 million of new term loans; Jefferies; $375 million six-year first-lien term loan (Ba3/B+) talked at Libor plus 400 bps to 425 bps, 1.25% Libor floor, OID 99 to 991/2, 101 soft call; $200 million seven-year second-lien term loan (B3/CCC+) talked at Libor plus 775 bps to 800 bps, 1.25% Libor floor, OID 981/2, call protection 103, 102, 101; refinance notes; Appleton, Wis., producer of thermal, carbonless and security papers and Encapsys products.

ARMACELL: $360 million of U.S. loans; Credit Suisse, BNP Paribas and HSBC; $65 million revolver (B2/B); $210 million seven-year first-lien covenant-light term loan (B2/B) talked at Libor plus 350 bps to 375 bps, 1% Libor floor, OID 991/2, 101 soft call; $85 million 71/2-year second-lien covenant-light term loan (Caa2/CCC+) talked at Libor plus 725 bps to 750 bps, 1% Libor floor, OID 99, call protection 102, 101; also €100 million seven-year first-lien covenant-light term loan (B2/B) talked at Euribor plus 375 bps to 400 bps, 1% floor, OID 991/2, 101 soft call; help fund buyout by Charterhouse Capital Partners; manufacturer of engineered foams.

ASPECT SOFTWARE INC.: $488 million of term loans (B) due May 2016; JPMorgan; $403 million term B talked at Libor plus 400 bps, 1.25% Libor floor, OID 991/2, 101 call protection; $85 million delayed-draw term loan talked at Libor plus 400 bps, 1.25% Libor floor, OID 991/2, 101 call protection; reprice existing term loan and help fund a future acquisition; Chelmsford, Mass., provider of customer contact and enterprise workforce optimization solutions.

ASURION LLC: $400 million seven-year incremental term B-2 talked at Libor plus 275 bps, 0.75% Libor floor, OID 96½ to 971/2, 101 soft call through Feb. 22, 2014; Morgan Stanley and Credit Suisse; refinance an existing term loan and general corporate purposes; Nashville-based provider of technology protection services.

BEATS ELECTRONICS LLC: $600 million to $650 million senior secured credit facility (B2/B+); Barclays, Citigroup and JPMorgan; $250 million five-year revolver; $350 million to $400 million 51/2-year term B at Libor plus 475 bps, 1.25% Libor floor, OID 98, soft call 102, 101; retire existing debt, fund a distribution to shareholders and for general corporate purposes; Santa Monica, Calif., consumer audio company.

BIOSCRIP INC.: $475 million credit facility (B2); SunTrust, Jefferies and Morgan Stanley; $75 million revolver; $250 million covenant-light term loan talked at Libor plus 450 bps, 1% Libor floor, OID 99, 101 soft call for six months; $150 million delayed-draw covenant-light term loan talked at Libor plus 450 bps, 1% Libor floor, OID 99, 101 soft call for six months; refinance loan and notes, and for working capital and general corporate purposes; Eden Prairie, Minn., provider of comprehensive infusion and home care services.

BLACKPEARL RESOURCES INC.: $350 million six-year senior secured second-lien term loan talked at Libor plus 925 bps, 1% Libor floor, OID 99, non-call 21/2, 103; Credit Suisse and RBC; fund the Onion Lake thermal enhanced oil recovery project and general corporate purposes; Calgary-based oil and gas company.

BLUE COAT SYSTEMS INC.: $330 million second-lien term loan (Caa1/CCC+) talked at Libor plus 750 bps, 1% Libor floor, OID 99, call protection 103, 102, 101; Jefferies; fund a dividend; Sunnyvale, Calif., web security company.

BOULDER BRANDS INC.: $320 million credit facility (B1); Citigroup, BMO and Barclays; $245 million seven-year covenant-light senior secured term B talked at Libor plus 350 bps, 1% Libor floor, OID 99, 101 soft call for six months; $75 million five-year revolver; refinance existing debt; Paramus, N.J., health and wellness food company.

CHRYSLER GROUP LLC: Expected closing June 21; $4.247 billion credit facility; Citigroup (left on term loan), Morgan Stanley (left on revolver), Bank of America and Goldman Sachs; $2.947 billion term loan due May 24, 2017 at Libor plus 325 bps, 1% Libor floor, 101 soft call for six months; $1.3 billion revolver due May 24, 2016; repricing; Auburn Hills, Mich., automotive company.

CLEARWATER SEAFOODS INC.: Roughly $350 million credit facility (B1/BB-); BMO and GE Capital; C$75 million five-year revolver; C$30 million five-year term A; C$45 million five-year delayed-draw term A; $200 million six-year term B at Libor plus 350 bps, 1.25% Libor floor, OID 993/4; refinance existing debt and for capital expenditures; Bedford, N.S., seafood company.

CLEMENT PAPPAS AND CO. INC.: $200 million term B due 2017 talked at Libor plus 350 bps, 1% Libor floor; GE Capital and BMO; repricing; Carneys Point, N.J., producer of store brand ready-to-drink fruit juices, drinks and sauces.

CONVERGEX GROUP: $175 million credit facility; Goldman Sachs; $25 million revolver; $150 million five-year term B talked at Libor plus 850 bps, OID 98 to 99, non-call one, 102; refinance existing debt; New York-based provider of global brokerage and trading related services.

CSM BAKERY SUPPLIES: $1 billion senior secured credit facility; Morgan Stanley, Credit Suisse, Deutsche Bank, RBC and MCS Capital; $150 million five-year asset-based revolver; $700 million seven-year first-lien term loan (B1/B+) at Libor plus 375 bps, 1% Libor floor, OID 99, 101 soft call; $150 million eight-year second-lien term loan (B3/CCC+) at Libor plus 750 bps, 1% Libor floor, OID 99, call protection 102, 101; help fund buyout by Rhone Capital LLC from CSM nv and refinance existing debt; supplier of bakery products.

CTI FOODS HOLDING CO. LLC: $585 million credit facility; Morgan Stanley and Goldman Sachs; $100 million ABL revolver; $345 million first-lien term B (B2/B) at Libor plus 350 bps, 1% Libor floor, OID 991/2, 101 soft call for six months; $140 million second-lien term loan (Caa1/CCC+) at Libor plus 725 bps, 1% Libor floor, OID 981/2, call protection 102, 101; help fund buyout by Thomas H. Lee Partners LP and Goldman Sachs & Co. from Littlejohn & Co. LLC; Wilder, Idaho, provider of food products to national chain restaurants.

CUSTOM ECOLOGY INC.: $130 million credit facility (B3/B-); Credit Suisse; $10 million revolver; $120 million six-year term loan at Libor plus 550 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance existing debt; Walker, La., industrial and hazardous waste transporter.

DRILLSHIPS FINANCING HOLDING INC. (OCEAN RIG): $1.8 billion of first-lien covenant-light secured term loan B debt (B2/B+); Deutsche Bank, Credit Suisse, Barclays and Goldman Sachs; $900 million seven-year-and-eight-month term loan B-1 talked at Libor plus 450 bps area, 1% Libor floor, OID 99, 101 soft call; $900 million three-year-and-two-month term loan B-2 talked at Libor plus 375 bps area, 1% Libor floor, OID 991/2, 101 soft call; refinance existing secured bank debt; Nicosia, Cyprus, offshore drilling contractor.

EXPERA SPECIALTY SOLUTIONS LLC: $178 million 51/2-year term B (Caa1/B+) talked at Libor plus 625 bps, 1.25% Libor floor, OID 97½ to 98, call protection 102, 101; Goldman Sachs and GE Capital; help fund formation by KPS Capital Partners LP through acquisition and merger of Wausau Paper Corp.'s specialty paper business and Packaging Dynamics Corp.'s specialty paper business.

FHC HEALTH SYSTEMS: $165 million credit facility (B1/BB-); UBS; $25 million revolver; $140 million 41/2-year term loan talked at Libor plus 475 bps, 1% Libor floor, OID 99, 101 soft call; refinance existing debt and general corporate purposes; Norfolk, Va., behavioral health care and wellness company.

FOTOLIA LLC: $300 million of term loans; Goldman Sachs and KKR; $200 million seven-year first-lien term loan (Ba3/B) talked at Libor plus 400 bps to 425 bps, 1.25% Libor floor, OID 991/2, 101 soft call; $100 million 71/2-year euro equivalent second-lien term loan (Caa1/CCC+) talked at Euribor plus 800 bps to 825 bps, 1.25% floor, OID 99, call protection 103, 102, 101; refinance existing debt, fund a dividend and put cash on the balance sheet; New York-based provider of royalty-free images, vectors, illustrations and video footage clips.

FOUR SEASONS HOTELS AND RESORTS: $1.1 billion credit facility; Citigroup and Deutsche Bank; $100 million revolver (B1/BB-); $750 million seven-year first-lien term loan (B1/BB-) at Libor plus 325 bps, 1% Libor floor, OID 993/4, 101 soft call for six months; $250 million 71/2-year second-lien term loan (Caa1/B-) at Libor plus 525 bps, 1% Libor floor, OID 99, call protection 102, 101; Toronto-based luxury hotels company.

F+W MEDIA INC.: $135 million credit facility; Macquarie; $10 million revolver talked at Libor plus 500 bps to 525 bps, 1.25% Libor floor, OID 99; $125 million term B talked at Libor plus 500 bps to 525 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance existing debt; community-focused content creator and marketer of products and services for enthusiasts.

GENESISCARE: $245 million seven-year term B talked at Libor plus 450 bps to 475 bps, 1.25% Libor floor, OID 99, 101 soft call; UBS and KKR Capital; refinance existing debt and fund a dividend; Sydney, Australia, provider of cardiology, radiation oncology and sleep treatments.

GENESYS TELECOMMUNICATIONS LABORATORIES INC.: $100 million incremental term loan talked at Libor plus 300 bps, 1% Libor floor, OID 99 to 991/2, 101 soft call through February 2014; Goldman Sachs, JPMorgan, Citigroup and RBC; help fund acquisition of SoundBite Communications Inc.; Daly City, Calif., provider of customer engagement and contact center services.

GENWORTH WEALTH MANAGEMENT (AQGEN LIBERTY MANAGEMENT): $255 million credit facility (B2/B); Credit Suisse; $25 million five-year revolver; $230 million seven-year first-lien term loan talked at Libor plus 475 bps, 1% Libor floor, OID 99, 101 soft call; help fund buyout by Aquiline Capital Partners LLC and Genstar Capital LLC; Richmond, Va., product provider in the wealth management industry.

HARGRAY COMMUNICATIONS: $330 million credit facility (B2/B+); RBC and Credit Suisse; $25 million revolver; $305 million term B at Libor plus 375 bps, 1% Libor floor, OID 99, 101 soft call; refinance existing debt and fund a dividend; provider of triple-play data, video and voice services.

HELP/SYSTEMS LLC: $360 million credit facility; GE Capital; $40 million six-year revolver; $240 million seven-year first-lien term B talked at Libor plus 350 bps, 1% Libor floor, OID 991/2; $80 million eight-year second-lien term loan talked at Libor plus 750 bps, 1% Libor floor, OID 99, call protection 103, 102, 101; refinance existing debt and fund a dividend; Eden Prairie, Minn., provider of automated operations and business intelligence software for IBM Power Systems servers.

HERFF JONES: $725 million credit facility (B2/BB-); Jefferies, PNC, Bank of America and Wells Fargo; $200 million revolver at Libor plus 325 bps; $525 million term B at Libor plus 450 bps, 1% Libor floor, OID 99, 101 soft call; fund the acquisition of BSN Sports and refinance existing debt; Indianapolis-based manufacturer and publisher of educational products, recognition awards and graduation-related items.

HOME LOAN SERVICING SOLUTIONS LTD.: Expected close June 27; $350 million seven-year senior secured covenant-light term B (Ba3) talked at Libor plus 300 bps to 325 bps, 1% Libor floor, OID 99 to 991/2, 101 soft call; JPMorgan and Wells Fargo; acquire mortgage servicing assets and fund advance reserves; Cayman Islands-based acquirer of mortgage servicing assets.

IKARIA ACQUISITION INC.: $850 million of term loans; Credit Suisse, Morgan Stanley, Barclays, Fifth Third and SunTrust; $550 million six-year first-lien term loan (B1/B) talked at Libor plus 525 bps, 1% Libor floor, OID 99, 101 soft call; $300 million seven-year second-lien term loan (Caa1/CCC+) talked at Libor plus 925 bps, 1% Libor floor, OID 981/2, call protection 103, 102, 101; fund a dividend, refinance existing debt and pre-fund research and development; Hampton, N.J., biotherapeutics company in the critical care market.

JACOBSON COS. (JHCI ACQUISITION INC.): $410 million credit facility; JPMorgan; $25 million revolver (B1/B-); $250 million first-lien term loan (B1/B-) talked at Libor plus 550 bps to 575 bps, 1.25% Libor floor, OID 98½ to 99, 101 call protection; $135 million second-lien term loan (Caa1/CCC) talked at Libor plus 950 bps, 1.25% Libor floor, OID 98 to 981/2, call protection 103, 102, 101; refinance existing debt; Des Moines, Iowa, third-party logistics company.

KCG HOLDINGS INC.: $535 million 41/2-year term B (Ba3/BB-) at Libor plus 450 bps, 1.25% Libor floor, OID 99, 101 soft call; Jefferies and Goldman Sachs; help fund merger of Getco Holding Co. LLC and Knight Capital Group Inc., and refinance existing debt; Jersey City, N.J., financial services firm.

LANDESK SOFTWARE: $325 million credit facility (B2); BMO and Credit Suisse; $25 million five-year revolver; $300 million seven-year term B talked at Libor plus 425 bps to 450 bps, 1% Libor floor, OID 991/2; refinance existing debt and fund a dividend; South Jordan, Utah, provider of systems lifecycle management and endpoint security, as well as IT service management products for desktops, servers and mobile devices.

LIGHTSQUARED INC.: $3 billion four-year senior secured term B talked at Libor plus 650 bps, 1.5% Libor floor, OID 981/2; Jefferies; fund exit from bankruptcy; Reston, Va., wireless broadband company.

MEDSOLUTIONS: $375 million credit facility (B2/B); SunTrust and Fifth Third; $75 million five-year revolver; $300 million six-year term B at Libor plus 525 bps, 1.25% Libor floor, OID 99, 101 soft call for six months; refinance existing debt and fund a dividend; Franklin, Tenn., provider of medical cost management services.

MERITAS SCHOOLS HOLDINGS LLC: $245 million credit facility (B3/B-); Credit Suisse and BMO; $30 million five-year revolver; $215 million six-year first-lien term loan talked at Libor plus 550 bps to 575 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance existing debt and for growth capital expenditures; Northbrook, Ill., family of private college-preparatory schools.

NATIONAL FINANCIAL PARTNERS CORP.: $888 million credit facility (B1/B+); Deutsche Bank, Morgan Stanley, UBS, Credit Suisse, MCS Capital and RBC; $135 million revolver; $753 million term loan at Libor plus 425 bps, 1% Libor floor, OID 99, 101 soft call; help fund buyout by Madison Dearborn Partners LLC; New York-based provider of benefits, insurance and wealth management services.

OCEANIA CRUISES: $375 million credit facility (B2/B); Deutsche Bank, Barclays, UBS and HSBC; $75 million revolver; $300 million seven-year term B talked at Libor plus 400 bps to 425 bps, 1% Libor floor, OID 991/2; refinance existing bank debt; Miami-based upper premium cruise line.

ORCHARD BRANDS: $230 million of term loans; Jefferies and Credit Suisse; $180 million six-year first-lien term loan (B1/B) talked at Libor plus 500 bps, 1.25% Libor floor, OID 99, 101 soft call; $50 million 61/2-year second-lien term loan (Caa1/CCC+) talked at Libor plus 875 bps to 900 bps, 1.25% Libor floor, OID 98, call protection 103, 102, 101; refinance existing debt; Beverly, Mass., multi-channel marketer of apparel and home products.

POLYCONCEPT: $395 million credit facility (Ba3/B); JPMorgan; $80 million revolver; $315 million six-year first-lien term B talked at Libor plus 450 bps to 475 bps, 1.25% Libor floor, OID 99, 101 soft call; refinance existing credit facility; Netherlands-based promotional products supplier.

QUICKSILVER RESOURCES INC.: $625 million six-year second-lien covenant-light term loan (B2/CCC+) at Libor plus 575 bps, 1.25% Libor floor, OID 97, soft call 102, 101; Credit Suisse, JPMorgan, Bank of America, Citigroup, Deutsche Bank and Wells Fargo; refinance notes and general corporate purposes; Fort Worth, Texas, natural gas and oil exploration and production company.

RITE AID CORP.: $500 million eight-year second-lien term loan (B3/B-/BB-) at Libor plus 387.5 bps, 1% Libor floor , call protection 102, 101; Bank of America, Citigroup, Morgan Stanley, Wells Fargo, GE Capital and Goldman Sachs; refinance notes; Camp Hill, Pa., drugstore chain.

SAPPHIRE POWER HOLDINGS: $380 million credit facility; Goldman Sachs and Deutsche Bank; $350 million seven-year covenant-light term loan (B2/B+) talked at Libor plus 400 bps, 1% Libor floor, OID 99, 101 soft call; $30 million revolver (B1/B+); refinance existing debt, fund a debt service reserve account and pay a dividend; Austin, Texas, power company.

SCIENTIFIC GAMES CORP.: $2.6 billion credit facility (Ba2/BB-); Bank of America, Credit Suisse and UBS; $300 million five-year revolver; $2.3 billion seven-year term loan at Libor plus 325 bps, 1% Libor floor, OID 991/2, 101 soft call for six months; help fund acquisition of WMS Industries Inc. and refinance bank debt; New York-based provider of customized, end-to-end gaming services to lottery and gaming organizations.

SERVICE CORP. INTERNATIONAL: $600 million senior term loan (Baa3/BB); JPMorgan; help fund acquisition of Stewart Enterprises Inc.; Houston-based provider of deathcare products and services.

TECHNICOLOR (TECH FINANCE &CO. SCA): $645 million seven-year term B (B3/B) talked at Libor plus 475 bps to 500 bps, 1.25% Libor floor, OID 99, soft call 102 for one year, 101 for six months; JPMorgan, Goldman Sachs and Morgan Stanley; also €250 million seven-year term B (B3/B) talked at Euribor plus 475 bps to 500 bps, 1.25% floor, OID 99, soft call 102 for one year, 101 for six months; refinance existing senior secured debt; technology company focused on the media and entertainment sector.

TRANSDIGM INC.: $700 million first-lien covenant-light tack-on term C (B+) due February 2020 talked at Libor plus 300 bps, 0.75% Libor floor, OID 98 to 981/2, 101 soft call; Credit Suisse, UBS, Morgan Stanley and Citigroup; fund a dividend; Cleveland-based designer, producer and supplier of aircraft components.

TRAVELPORT LLC: $1.67 billion credit facility (B1/B); Credit Suisse, Deutsche Bank, Morgan Stanley and UBS; $120 million five-year revolver; $1.55 billion six-year first-lien term loan at Libor plus 500 bps with step-downs, 1.25% Libor floor, OID 981/2, non-call one, 102, 101; refinance existing first-lien bank debt; Atlanta-based provider of transaction processing services to the travel industry.

TRIPLE POINT GROUP HOLDINGS INC.: $525 million credit facility; Credit Suisse; $40 million revolver (B); $320 million seven-year first-lien covenant-light term loan (B) talked at Libor plus 375 bps to 400 bps, 1% Libor floor, OID 99, 101 soft call for six months; $165 million eight-year second-lien covenant-light term loan (CCC+) talked at Libor plus 775 bps to 800 bps, 1% Libor floor, OID 981/2, call protection 102, 101; help fund buyout by Ion Investment Group; Westport, Conn., provider of software for end-to-end commodity management.

VALEANT PHARMACEUTICALS INTERNATIONAL INC.: $4.05 billion of term loans (Ba1/BB); Goldman Sachs, JPMorgan, Bank of America, Barclays, RBC and Morgan Stanley; $3.55 billion seven-year term B talked at Libor plus 325 bps to 350 bps, 0.75% Libor floor, OID 991/2, 101 soft call for six months; $500 million term A due April 2016 talked at Libor plus 225 bps, OID 99 to 991/2; help fund acquisition of Bausch + Lomb Holdings Inc.; Laval, Quebec, specialty pharmaceutical company.

VITERA HEALTHCARE SOLUTIONS: $365 million credit facility; Jefferies and BMO; $25 million five-year revolver; $255 million seven-year first-lien term loan talked at Libor plus 450 bps to 500 bps, 1% Libor floor, OID 99, 101 soft call for six months; $85 million eight-year second-lien term loan talked at Libor plus 825 bps to 875 bps, 1% Libor floor, OID 981/2, call protection 102, 101; refinance existing bank debt and fund acquisition of SuccessEHS; Tampa, Fla., provider of ambulatory electronic health records and practice management software and services.

WATER PIK INC.: $335 million credit facility; Credit Suisse, GE Anteres and Macquarie; $25 million revolver (B2/B); $215 million seven-year first-lien covenant-light term loan (B2/B) talked at Libor plus 400 bps, 1% Libor floor, OID 99, 101 soft call for six months; $95 million 71/2-year second-lien covenant-light term loan (Caa2/CCC+) talked at Libor plus 800 bps, 1% Libor floor, OID 981/2, call protection 102, 101; help fund buyout by MidOcean Partners LP; Fort Collins, Colo., provider of oral health and replacement showerhead products.

WEBSENSE INC.: $615 million senior secured credit facility; JPMorgan, RBC and Guggenheim Partners; $40 million five-year revolver (Ba3/B+); $350 million seven-year covenant-light first-lien term loan (Ba3/B+) at Libor plus 350 bps, step-down to Libor plus 325 bps when first-lien net leverage is less than 3.25x, 1% Libor floor, OID 993/4, 101 soft call; $225 million 71/2-year covenant-light second-lien term loan (Caa1/CCC+) talked at Libor plus 725 bps, 1% Libor floor, OID 991/2, call protection 102, 101; help fund buyout by Vista Equity Partners; San Diego-based provider of web security, email security, mobile security and data loss prevention.

On The Horizon

APOLLO TYRES: $500 million revolver; Morgan Stanley, Deutsche Bank, Standard Chartered and Goldman Sachs; help fund acquisition of Cooper Tire & Rubber Co.; India-based tire company.

ATLAS ENERGY LP: $100 million secured second-lien term loan; Wells Fargo and Deutsche Bank; help fund acquisition of natural gas proved reserves from EP Energy E&P Co. LP; Pittsburgh-based master limited partnership that owns an interest in producing natural gas and oil wells.

BMC SOFTWARE: $4.55 billion senior secured credit facility; Credit Suisse, RBC and Barclays; $350 million five-year revolver; $4.2 billion seven-year term loan; help fund buyout by Bain Capital, Golden Gate Capital, GIC Special Investments Pte. Ltd and Insight Venture Partners; Houston-based software company.

DELL INC.: $7.5 billion credit facility; Barclays, Credit Suisse, Bank of America and RBC; $4 billion 61/2-year covenant-light term B expected at Libor plus 350 bps, 1% Libor floor; $1.5 billion five-year covenant-light term C expected at Libor plus 300 bps, 1% Libor floor; $2 billion asset-based revolver expected at Libor plus 175 bps; help fund buyout by Michael Dell, founder, chairman and chief executive officer, and Silver Lake Round Rock, Texas, provider of technology and business services.

EBIX INC.: $600 million senior secured credit facility; Credit Suisse and Goldman Sachs; $50 million five-year revolver expected at Libor plus 325 bps, 50 bps unused fee; $400 million seven-year covenant-light first-lien term loan expected at Libor plus 325 bps, step-down to Libor plus 300 bps based on leverage, 1% Libor floor, OID 991/2; $150 million eight-year covenant-light second-lien term loan expected at Libor plus 725 bps, 1% Libor floor, OID 99, call protection 103, 102, 101; help fund buyout by Goldman Sachs & Co.; Atlanta-based supplier of On-Demand software and e-commerce services to the insurance industry.

GANNETT CO. INC.: New bank debt; help fund acquisition of Belo Corp.; McLean, Va., media and marketing company.

GARDNER DENVER INC.: $2.725 senior secured credit facility; UBS, Barclays, Citigroup, Deutsche Bank, RBC, Mizuho, KKR, HSBC and Sumitomo Mitsui; $400 million five-year revolver; $1.8 billion seven-year term B; $525 million seven-year euro term B; help fund buyout by Kohlberg Kravis Roberts & Co. LP; Wayne, Pa., manufacturer of industrial compressors, blowers, pumps, loading arms and fuel systems.

IHS INC.: $680 million term loan; JPMorgan and Bank of America; help fund acquisition of R.L. Polk & Co.; Englewood, Colo., provider of information, insight and analytics.

KAPSTONE PAPER AND PACKAGING CORP.: $1.325 billion credit facility; Bank of America, Barclays and Wells Fargo; $300 million revolver; $775 million add-on five-year term loan; $250 million six-year term A-1; help fund acquisition of Longview Fibre Paper and Packaging Inc. from Brookfield Capital Partners II; Northbrook, Ill., producer of unbleached kraft paper and corrugated products.

NIELSEN HOLDINGS NV: New debt financing; JPMorgan; fund acquisition of Arbitron Inc.; New York and Netherlands-based provider of information and insights into what consumers watch and buy.

NRG YIELD INC. (YIELD OPERATING LLC): New revolver; Bank of America, Goldman Sachs and Citigroup; in connection with common stock IPO; Princeton, N.J., company formed by NRG Energy Inc. to own, operate and acquire contracted renewable and conventional generation and thermal infrastructure assets.

OCI PARTNERS LP: $235 million 61/2-year senior secured term B; Bank of America; repay term B-2 in connection with initial public offering of common units; Nederland, Texas, methanol and ammonia company.

PENN NATIONAL GAMING INC. and PROPCO: New credit facilities; in connection with spinoff of Penn National's gaming operating assets and real estate assets; refinance existing debt; Wyomissing, Pa., owner and operator of gaming and racing facilities.

PINNACLE ENTERTAINMENT INC.: $2.935 billion credit facility; JPMorgan, Goldman Sachs, Bank of America, Deutsche Bank, Wells Fargo, Barclays, Credit Agricole and UBS; up to $1 billion five-year revolver; $1.935 billion term loan, 1% Libor floor; help fund acquisition of Ameristar Casinos Inc.; Las Vegas-based owner and operator of casinos.

RUE21 INC.: New debt financing; Bank of America, JPMorgan and Goldman Sachs; help fund buyout by Apax Partners; Warrendale, Pa., retailer of girls and guys apparel and accessories.

SALESFORCE.COM: $300 million three-year senior secured term loan expected at Libor plus 175 bps; Bank of America; help fund acquisition of ExactTarget; San Francisco-based provider of customer relationship management software.

SINCLAIR BROADCAST GROUP INC.: New debt financing; help fund purchase of Fisher Communications Inc.; Hunt Valley, Md., television broadcasting company.

SMITHFIELD FOODS INC.: $1.65 billion senior secured term loan; Morgan Stanley; help fund purchase by Shuanghui International Holdings Ltd.; Smithfield, Va., food company.

TELULAR CORP.: $145 million credit facility; SunTrust; $20 million five-year revolver expected at Libor plus 450 bps, 50 bps commitments fee; $90 million six-year first-lien term loan expected at Libor plus 450 bps, 1.25% Libor floor, OID 99, 101 soft call for six months; $35 million seven-year second-lien term loan expected at Libor plus 800 bps, 1.25% Libor floor, OID 981/2, call protection 103, 102, 101; help fund buyout by Avista Capital Partners; Chicago-based provider of remote monitoring and asset-tracking services.

TRUE RELIGION APPAREL INC.: $535 million senior secured credit facility; Deutsche Bank, Jefferies, UBS and Macquarie; $50 million asset-based revolver; $375 million first-lien term loan; $110 million second-lien term loan; help fund buyout by TowerBrook Capital Partners LP; Vernon, Calif., jeans and jeans-related sportswear 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.