Bank Loan Calendar

Total amount of deals being marketed: $18.21 billion

APRIL:

HAYES LEMMERZ INTERNATIONAL INC.: $575 million credit facility; bank meeting scheduled for second quarter; Citibank and Lehman Brothers; $450 million term B; $125 million pro rata; exit financing; Northville, Mich. auto parts maker.

LAIDLAW, INC.: $825 million senior secured credit facility (Ba3/BB); Credit Suisse First Boston, Citibank; $300 million five-year revolver at Libor plus 300 bps; $525 million six-year term loan B at Libor plus 350 bps; Chapter 11 exit financing; Burlington, Ont. transportation company.

PARKDALE MILLS INC.; Bank meeting April 23; $90 million credit facility; Wachovia; $35 million revolver; $55 million term A; both priced at Libor plus 300 bps; general corporate purposes; Gastonia, N.C. yarn company.

RITE AID CORP.: $2 billion senior secured credit facility due April 2008; Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. joint lead arrangers on the deal; repay the existing $1.37 billion senior secured credit facility due March 2005 and $107 million synthetic lease due March 2005 and to replace the existing $500 million revolver; expected to close by the end of May; Camp Hill, Pa. retail drugstore chain.

TESORO PETROLEUM CORP.: $650 million asset-based senior secured revolver due 2006 (Ba3/NA/BB-); Bank One, Goldman Sachs syndication agent; secured by inventory and accounts receivable; refinance existing bank debt; San Antonio, Tex. refiner and marketer of petroleum products.

TRANSMONTAIGNE INC.: Bank meeting mid-to-late April; $450 million credit facility; UBS Warburg; refinancing; Denver transporter, storer, and marketer of refined petroleum products, chemicals and crude oil.

VIVENDI UNIVERSAL ENTERTAINMENT: $500 million five-year term loan via JPMorgan and Bank of America; Paris media, entertainment and telecom company will use proceeds to help refinance $1.6 billion bridge facility.

UPCOMING CLOSINGS

ALLIED WASTE INDUSTRIES INC.: $3 billion credit facility (Ba3/BB/BB); JPMorgan, Citibank, Credit Suisse First Boston, Deutsche and UBS Warburg; $1.5 billion five-year revolver at Libor plus 300 bps; $1.5 billion seven-year term loan B at Libor plus 325 bps; refinance debt; Scottsdale, Ariz. solid waste management company.

AMKOR TECHNOLOGY INC.: $200 million credit facility (Ba3/B+); Citibank and JPMorgan; $30 million revolver due 2005 at Libor plus 425 bps; $170 million term B due 2006 at Libor plus 425 bps; refinancing; West Chester, Pa. provider of semiconductor assembly and test services.

AMPHENOL CORP.: $750 million credit facility (Ba2/BB+); Deutsche Bank and UBS Warburg; $125 million five-year revolver at Libor plus 200 bps; $125 million five-year term A at Libor plus 200 bps; $500 million seven-year term B at Libor plus 250 bps; refinance the existing credit facility and to repay $144 million of 9 7/8% senior subordinated notes; Wallingford, Conn. producer of electronic and fiber optic connectors, cable and interconnect systems.

CENTURY MAINTENANCE SUPPLY: Expected close April 30; $130 million credit facility; Citibank; $25 million five-year revolver at Libor plus 350 bps; $105 million seven-year term B at Libor plus 450 bps; refinance existing debt; Houston distributor of maintenance supplies to property management companies.

CMS ENERGY CORP.: $850 million credit facility; Citibank, Merrill Lynch and Deutsche Bank; $441 million one-year revolver for CMS Enterprises at Libor plus 550 bps; $234 million one-year revolver for CMS Energy at Libor plus 550 bps; $175 million 1 1/2-year term loan for CMS Energy at Libor plus 700 bps; secured by common stock; retire debt and for general corporate purposes; Dearborn, Mich. energy company.

DAN RIVER INC.: $200 million asset-based senior secured credit facility; Deutsche Bank, Fleet and Wachovia; $160 million five-year revolver at Libor plus 250 bps; $40 million five-year term loan at Libor plus 275 bps; repay all borrowings outstanding under existing credit agreement, redeem all outstanding 10 1/8% senior subordinated notes due 2003 and pay related fees and expenses; Danville, Va. designer, manufacturer and marketer of products for the home fashions and apparel fabrics markets.

ETHYL CORP.: $165 million credit facility (Ba3/B+); Credit Suisse First Boston and UBS Warburg; $50 million five-year revolver with 50 basis points commitment fee at Libor plus 350 bps; $115 million six-year term loan at Libor plus 400 bps; refinance existing debt; Richmond, Va. developer, manufacturer, blender and marketer of fuel and lubricant additives technology and products.

GAYLORD ENTERTAINMENT CO.: $225 million credit facility; Deutsche, Bank of America, CIBC; $200 million three-year term loan; $25 million three-year revolver; repay existing term loan and complete construction of Gaylord Opryland Texas Resort & Convention Center; Nashville, Tenn. diversified entertainment and communications company.

ILC INDUSTRIES INC.: $130 million senior secured credit facility; UBS Warburg; $15 million five-year revolver; $115 million seven-year term B at Libor plus 450 bps; help fund LBO by Behrman Capital and Clifford Lane; Bohemia, N.Y. supplier of defense electronics, advanced microelectronic components and engineered materials.

INFOUSA INC.: $145 million credit facility; Bank of America; $45 million revolver; $100 million term loan with price talk around Libor plus 350 bps; refinance existing bank facility; Omaha, Neb. provider of business and consumer information products, database marketing services, data processing services, and sales and marketing solutions.

INTERNATIONAL STEEL GROUP: $1 billion senior credit facility (Ba2/BB+); UBS Warburg, Goldman Sachs and CIT; $300 million two-year term A at Libor plus 275 to 325 bps; $400 million four-year term B at Libor plus 325 to 375 bps; $300 million three-year revolver at Libor plus 275 to 325 bps; help fund acquisition of Bethlehem Steel Corp. assets and working capital; Cleveland steel company.

ISLE OF CAPRI BLACK HAWK LLC: $135 million add-on (B1/B+); CIBC administrative agent; $105 million term C due 2006 at Libor plus 400 bps; $30 million revolver add-on due 2005 at Libor plus 325 bps to 400 bps based on leverage; help fund purchase of Colorado Central Station Casino and Colorado Grande Casino from International Game Technology, Inc.; Colorado hotel casino jointly owned by Isle of Capri Casinos and Nevada Gold & Casinos.

KEY AUTOMOTIVE: $350 million credit facility; Citibank and Merrill Lynch; $90 million revolver at Libor plus 400 bps; $210 million term B at Libor plus 450 bps; $50 million term C at Libor plus 1000 bps; acquisitions.

KMART CORP.: $2 billion credit facility; $1.8 billion revolver; $200 million term B; Libor plus 350 bps; GE Commercial Finance, Fleet Retail Finance Inc. and Bank of America; secured by inventory; replace DIP and help fund working capital needs; Troy, Mich. discount retailer.

KNOWLEDGE LEARNING CORP.: $260 million credit facility (Ba3/B+); BNP Paribas; $235 million seven-year term B with price talk of Libor plus 375 bps; $25 million five-year revolver; help fund the acquisition of Aramark Educational Resources from Aramark Corp.; San Rafael, Calif. provider of childcare services.

KOPPERS INDUSTRIES INC.: $175 million credit facility; PNC, NatCity Investments; $100 million revolver at Libor plus 200 bps; $75 million four-year term loan at Libor plus 250 bps; Pittsburgh carbon-compound products maker.

LE-NATURE'S INC.: $150 million credit facility; Wachovia and The Marshall Group; $35 million five-year revolver at Libor plus 450 bps; $100 million five-year term A at Libor plus 450 bps; $15 million second lien term loan at 8.25%; refinancing; Latrobe, Pa. beverage company.

NATIONSRENT INC.: $150 million exit financing revolver; Wachovia, GECC co-arrangers, Wachovia administrative agent and bookrunner, GECC syndication agent; secured by basically all assets; refinance debt, capital expenditures and working capital needs; Fort Lauderdale, Fla. rental company.

NEPTUNE TECHNOLOGY GROUP INC.: $220 million credit facility; UBS Warburg; $30 million five-year revolver at Libor plus 350 bps; $190 million seven-year term B at Libor plus 425 bps; refinancing; Tallassee, Ala. provider of technology-based data collection systems and water measurement products for water utilities.

ORECK CORP.: $165 million facility; Royal Bank of Scotland, Antares Capital Corp., GE Capital; $20 million five-year revolver at Libor plus 400 bps; $72.5 million five-year term A at Libor plus 400 bps; $72.5 million six-year term B at Libor plus 450 bps; LBO through sponsor American Securities Capital Partners; New Orleans vacuum cleaner manufacturer.

OXFORD HEALTH PLANS: $450 million credit facility (Ba2); Credit Suisse First Boston and Bank of America; $50 million five-year revolver at Libor plus 225 bps, 50 bps commitment fee; $400 million six-year term loan at Libor plus 250 to 275 bps; refinancing; Trumbull, Conn. healthcare company.

PERRY ELLIS INTERNATIONAL INC.: $110 million three-year revolver with an interest rate ranging from Libor plus 200 to 275 bps depending on the funded debt to EBITDA and availability; Congress Financial Corp.; help fund the acquisition of Salant Corp., working capital and general corporate purposes; Miami men's clothing company.

PINNACLE ENTERTAINMENT INC.: Expected close in April; $225 million credit facility (B1/B+); Bank of America and Bear Stearns; $100 million four-year revolver at Libor plus 437.5 bps; $125 million five-year term loan at Libor plus 462.5 bps; help fund the Lake Charles project, replace revolver and general corporate purposes; Las Vegas diversified gaming company.

PLAINS EXPLORATION & PRODUCTION CO.: $500 million three-year senior revolver at Libor plus 137.5 to 200 bps; JP Morgan Chase Bank; secured by 100% of shares of stock of domestic subsidiaries and mortgages covering 80% of domestic oil and gas properties; Houston oil and gas company.

SALTON INC.: $275 million revolver at Libor plus 225 bps; Wachovia and Bank of America; general corporate purposes; Lake Forest, Ill. designer, marketer, manufacturer and distributor of a broad range of branded small appliances, tabletop, time and lighting products and personal care and wellness products.

TESORO PETROLEUM CORP.: Expected close April 17; $200 million term loan due 2008 at Libor plus 550 bps (Ba3/NA/BB-); Goldman Sachs; refinance existing bank debt; San Antonio, Tex. refiner and marketer of petroleum products.

TOWN SPORTS INTERNATIONAL: $50 million five-year revolver at Libor plus 400 bps (B+/B1); Deutsche Bank and BNP Paribas; refinance existing debt and preferred stock; New York owner and operator of health clubs.

TWEETER HOME ENTERTAINMENT GROUP INC.: Expected close mid-April; $110 million three-year revolver at Libor plus 250 bps; 3/8% unused fee; Fleet National Bank; replace existing revolver; Canton, Mass. retailer of audio and video consumer electronics products.

WALTER INDUSTRIES INC.: $500 million credit facility (Ba2/BB); Bank of America lead, SunTrust co-bookrunner; $250 million five-year revolver at Libor plus 275 bps; $250 million seven-year term B at Libor plus 400 bps; pay off old facility and general corporate purposes; Tampa, Fla. diversified company.

WATSON PHARMACEUTICALS: $300 million five-year revolver at Libor plus 150 bps (Ba1/BBB-); Wachovia and CIBC; general corporate purposes; Corona, Calif. specialty pharmaceutical company.

ON THE HORIZON:

KINETIC SYSTEMS, INC.: $150 million credit facility; Bank of Nova Scotia; to pay separation note to Celerity Group, Inc.; Milpitas, Calif. provider of turnkey process systems and operating services.

GRAPHIC PACKAGING INTERNATIONAL CORP./ RIVERWOOD HOLDINGS INC.: Over $1.5 billion in acquisition financing, including bank and bonds; JPMorgan, Deutsche Bank, Goldman Sachs and Morgan Stanley are equal underwriter leads, Citibank and Credit Suisse First Boston are co-leads; Atlanta paperboard packaging company.

LOEWS CINEPLEX THEATERS, INC.: Seven-year term loan and five-year revolver; Credit Suisse First Boston and Merrill Lynch; term loan proceeds to help repay Loews' existing credit facility and facility of its Loeks-Star Theatres subsidiary and for fees and expenses, revolver for general corporate purposes; coming in conjunction with $300 million IPO and notes offering; New York, N.Y. movie theater operator.

SUPERIOR TELECOM INC.: $100 million nine-month DIP at Libor plus 350 bps; Deutsche lead bank and agent, GE Capital Corp. syndication agent; East Rutherford, N.J. wire and cable manufacturer.

SYMBION INC.: $100 million three-year revolver; in conjunction with IPO; Bank of America; commitment fee to range from 37.5 bps to 50 bps; secured by a first priority lien on substantially all real and personal property of the company and its subsidiaries, all capital stock or other interests in wholly-owned subsidiaries and a pledge of ownership interests in majority owned-subsidiaries; for acquisitions, developments of new centers and working capital; Nashville, Tenn. surgery center operator.

FULL DOCUMENTATION FOR RECENT DEALS AND AMENDMENTS:

CONSTELLATION BRANDS, INC.: $1.6 billion credit facility; via JPMorgan, Citibank and UBS Warburg; dated March 19.

http://www.sec.gov/Archives/edgar/data/16918/000090130903000144/credit_agreement.txt

MCSI INC.: Forbearance agreement; via PNC Bank as administrative agent; dated April 4.

http://www.sec.gov/Archives/edgar/data/1023519/000089914003000349/mi1190975.txt

SALEM COMMUNICATIONS CORP.: Amendment to credit facility adjusting covenants; via Bank of New York as administrative agent; dated March 28.

http://www.sec.gov/Archives/edgar/data/1050606/000105060603000016/firstqtr_8k.htm

SEROLOGICALS CORP.: New $117.5 million credit agreement via UBS Warburg LLC as arranger and UBS AG, Stamford Branch as administrative agent; dated April 7.

http://www.sec.gov/Archives/edgar/data/767673/000095014403004788/g81905exv10w1.txt

SMITHFIELD FOODS, INC.: Amendment to credit facility increasing size, adjusting covenants, adding grid-based interest rates; via JPMorgan Chase Bank as administrative agent; dated April 4.

http://www.sec.gov/Archives/edgar/data/91388/000091664103001017/dex105.txt

TECO ENERGY, INC.: New $350 million credit facility via Merrill Lynch; dated April 9.

http://www.sec.gov/Archives/edgar/data/350563/000095013503002339/b46254teexv10w1.txt

© 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.