Bank Loan Calendar

Total amount of deals being marketed: $23.6003 billion

MARCH:

AEARO CORP.: $175 million credit facility; Deutsche Bank and Bear Stearns, Deutsche listed on the left; $125 million term loan; $50 million revolver; support Bear Stearns Merchant Banking's acquisition of the company from Vestar Capital for $385 million, including assumed debt of about $210 million; Indianapolis personal protection equipment company.

CACI INTERNATIONAL INC.: Bank meeting March 25; $550 million credit facility; Banc of America Securities LLC; $220 million five-year revolver at Libor plus 225 bps, 50 bps undrawn fee; $350 million seven-year term B at Libor plus 225 bps; finance $415 million cash acquisition of American Management System Inc.'s Defense and Intelligence Group; Arlington, Va., provider of IT and network solutions.

CALPINE GENERATING CO. LLC (CALGEN): Pricing March 12; $1.855 billion in possible loans; Morgan Stanley; $800 million super secured floating-rate loans or notes due 2009, non-callable for three years, price talk Libor plus 350-375 bps; $855 million senior secured floating-rate loans or notes due 2010, non-callable for four years, price talk Libor plus 550-575 bps; $200 million three-year revolver via Bank of Nova Scotia; help refinance $2.5 billion CCFC II credit facility, maturing in November 2004; San Jose, Calif., power company.

GUNDLE/SLT ENVIRONMENTAL INC.: Bank meeting mid-March; $215 million credit facility; UBS sole bookrunner; help support acquisition by Code Hennessy & Simmons LLC; Houston manufacturer and marketer of geosynthetic lining solutions, products and services.

OMEGA HEALTHCARE INVESTORS INC.: $125 million senior secured revolver; Bank of America sole lead arranger, bookrunner, administrative agent, Deutsche and UBS; refinancing; Timonium, Md., real estate investment trust specializing in the long-term care industry.

SEALY CORP.: Bank meeting March 15 week; debt financing via JPMorgan and Goldman Sachs; support Kohlberg Kravis Roberts & Co.'s (KKR) approximately $1.5 billion acquisition of the company and refinance existing debt; Trinity, N.C., bedding manufacturer.

UNITED INDUSTRIES CORP.: Bank meeting tentatively March 25; $510 million credit facility (B1/B+); Bank of America and Citigroup; $385 million term loan; $125 million revolver; finance acquisition of the Nu-Gro Corp., redeem preferred stock and redeem subordinated notes; St. Louis consumer lawn and garden care products company.

WARNER MUSIC GROUP: Bank meeting March 22; $1.25 billion credit facility; Bank of America, Deutsche Bank, Lehman Brothers and Merrill Lynch; $250 million revolver; $1 billion term B; support the company's purchase by an investor group led by Thomas H. Lee Partners, Edgar Bronfman Jr.'s Lexa Partners, Bain Capital and Providence Equity Partners from Time Warner Inc. for about $2.6 billion in cash; New York City-based music company.

UPCOMING CLOSINGS

ALLIANT TECHSYSTEMS INC.: $700 million senior secured credit facility (Ba2/BB); Bank of America; $300 million five-year revolver at Libor plus 200 bps; $400 million seven-year term B at Libor plus 200 bps; refinance the existing credit facility; Edina, Minn., supplier of aerospace and defense products.

AMERCO: $550 million exit financing facility; Wells Fargo Foothill; $350 million five-year term loan A at Libor plus 400 bps; $200 million five-year revolver at Libor plus 400 bps; Las Vegas company that operates in moving and storage, real estate and insurance.

AMERICAN ACHIEVEMENT CORP.: $195 million credit facility (B1/B+); Goldman and Deutsche, Goldman on left; $40 million revolver; $155 million term loan talked at Libor plus 275 bps; help support acquisition by a new company organized and managed by Fenway Partners from Castle Harlan Inc.; Austin, Texas, manufacturer and seller of high school and college class rings and yearbooks.

AMERICAN SEAFOODS GROUP LLC: $300 million credit facility; CIBC; $80 million five-year revolver at Libor plus 300 bps; $220 million seven-year term B split between floating rate and fixed rate tranches, floating rate at Libor plus 300 bps; secured by intercompany debt, capital stock and certain assets; fund tender for 10 1/8% notes; Seattle producer of seafood products.

AMERIPATH INC.: $125 million term loan at Libor plus 275 bps (B2/B+); Credit Suisse First Boston and Deutsche Bank; repay the existing term loan and pay related fees and expenses; Riviera Beach, Fla., provider of cancer diagnostics, genomics and related information services.

AMS SERVICES INC.: $110 million credit facility; Credit Suisse First Boston sole lead arranger; $20 million four-year revolver at Libor plus 325 bps, 50 bps commitment fee; $70 million four-year term loan at Libor plus 325 bps; $20 million second lien six-year term B at Libor plus 650 bps; recapitalization; Windsor, Conn., enterprise software and information services provider to the insurance industry.

ARINC INC.: $200 million secured credit facility (Ba3/BB); Wachovia; $125 million term B due 2011 at Libor plus 225 bps; $75 million revolver due 2009 at Libor plus 200 bps; both tranches have pricing grid based on leverage; help fund a benefit pension plan, refinance existing bank debt and refinance existing bond debt; Annapolis, Md., provider of transportation communications and systems engineering solutions.

ASTORIA ENERGY LLC: $690 million eight-year term B at Libor plus 450 bps; Credit Suisse First Boston; construction financing; subsidiary of SCS Energy LLC, a Concord, Mass., electric company.

ATP OIL & GAS CORP.: $175 million five-year term loan at Libor plus 850 bps, 1.5% Libor floor, offered at 99; Credit Suisse First Boston; secured by all U.S. and U.K. assets; refinance bank debt; Houston natural gas and oil company.

BUFFETS INC.: $310 million amended senior secured credit facility (B1/B+); Credit Suisse First Boston sole lead arranger; $30 million 31/2-year revolver at Libor plus 325 bps with 50 bps commitment fee; $20 million 31/2-year existing letter-of-credit facility at Libor plus 325 bps; $30 million 51/2-year synthetic letter-of-credit facility at Libor plus 350 bps; $230 million 51/2-year term B at Libor plus 350 bps; refinance all outstanding term loan debt, repurchase 11¼% senior subordinated notes due 2010 and/or repay bank debt with $50 million of the proceeds, redeem series A senior subordinated and series B junior subordinated notes due 2011, make a distribution to stockholders and pay transaction fees and expenses; Eagan, Minn., restaurant operator.

BUILDERS FIRSTSOURCE: $405 million senior secured credit facility; UBS sole lead arranger and administrative agent, Bear Stearns co-arranger and syndication agent; $90 million five-year revolver at Libor plus 275 bps (B+); $230 million six-year first lien term loan at Libor plus 325 bps (B+); $85 million 61/2-year second lien term loan at Libor plus 850 bps, 2% floor, issued at 99, call protection of 102 in year one, 101 in year two; support JLL Partners' recapitalization of the company; Dallas supplier of building products.

CBD MEDIA LLC: Repricing $150 million term B to Libor plus 225 bps from Libor plus 325 bps, step down to Libor plus 200 bps depending on leverage; Lehman, Bank of America and Toronto Dominion; Cincinnati multi-media publisher of Yellow and White Page directories.

COMPRESSION POLYMERS HOLDINGS LLC: $140 million credit facility; Wachovia; $20 million five-year revolver at Libor plus 300 bps (B1/B); $90 million six-year first lien term loan at Libor plus 325 bps (B1/B); $30 million 61/2-year second lien term loan at Libor plus 600 bps (B2/CCC+); refinance debt, general working capital and pay a dividend to shareholders; Moosic, Pa., manufacturer of engineering thermoplastic sheet and plate.

DOLLAR THRIFTY AUTOMOTIVE GROUP INC.: $785 million credit facility; $485 million 364-day revolver at Libor plus 125 bps, 25 bps commitment fee; $300 million five-year revolver at Libor plus 200 bps, 37.5 bps commitment fee; Credit Suisse First Boston and JPMorgan joint lead arrangers and joint bookrunners on the 364-day revolver, Credit Suisse First Boston and Bank of Nova Scotia joint lead arrangers and joint bookrunners on the five-year revolver; Tulsa, Okla., vehicle rental company.

DOUGLAS DYNAMICS LLC: $220 million credit facility; Credit Suisse First Boston sole lead and bookrunner; $50 million five-year revolver at Libor plus 300 bps, 50 bps commitment fee; $120 million six-year term B at Libor plus 300 bps; $50 million seven-year second lien term loan at Libor plus 650 bps; help support LBO by DDL Acquisition Corp., formed by Aurora Capital Group, from AK Steel Holding Corp.; Johnson City, Tenn., manufacturer of snow and ice removal equipment.

ENERSYS CAPITAL INC.: $580 million credit facility; Bank of America; $100 million revolver at Libor plus 250 bps (B1/BB-); $360 million term B at Libor plus 250 bps (B1/BB-); $120 million second lien term loan at Libor plus 500 bps (B2/B); refinance debt and pay distribution to equity holders; Reading, Pa., industrial battery manufacturer.

EXIDE TECHNOLOGIES: $500 million debtor-in-possession facility due May 15; Deutsche; $133 million revolver at Libor plus 375 bps; $367 million term loan at Libor plus 375 bps; Princeton, N.J., manufacturer of lead acid batteries.

EXIDE TECHNOLOGIES: $600 million senior secured exit financing facility (Ba3/BB-); Deutsche Bank Securities Inc. and Credit Suisse First Boston joint lead arrangers; six-year term loan at Libor plus 400 bps; six-year foreign term loan at Libor plus 400 bps; six-year euro term loan at Libor plus 400 bps; five-year revolver at Libor plus 400 bps; term loan to refinance existing debt, revolver for working capital, capital expenditures and general corporate purposes; Princeton, N.J., manufacturer of lead acid batteries.

FREEDOM COMMUNICATIONS INC.: $1.1 billion senior credit facility (Ba3/BB); JPMorgan, Morgan Stanley, Wachovia, Deutsche and UBS; $750 million term B at Libor plus 225 bps; $100 million revolver at Libor plus 225 bps; $250 million term A at Libor plus 225 bps; help support recapitalization under which Blackstone Communications Partners and Providence Equity Partners will make a significant investment in the firm and enable continued control by descendents of founder R. C. Hoiles; Irvine, Calif., diversified media company.

HERBALIFE INTERNATIONAL INC.: $104.8 million amended and restated credit facility; UBS; $25 million revolver at Libor plus 250 bps; $79.8 million term loan at Libor plus 300 bps; refinancing and repricing; Los Angeles seller of weight management products, nutritional supplements and personal care products.

THE HILLMAN COS. INC.: $257.5 million credit facility; Merrill Lynch and JPMorgan; $40 million revolver at Libor plus 300 bps; $217.5 million term B at Libor plus 325 bps; support buyout by an affiliate of Code Hennessy & Simmons LLC from Allied Capital Corp.; Cincinnati manufacturer of key-making equipment and distributor of key blanks, fasteners, signage, and other small hardware components.

HOME INTERIORS & GIFTS INC.: $370 million credit facility (B2/B); JPMorgan and Bear Stearns, JPMorgan listed on the left; $320 million term loan at Libor plus 325 bps; $50 million revolver at Libor plus 275 bps; refinance about $169.8 million of existing senior debt, repurchase all approximately $139 million or a portion of the company's outstanding convertible preferred stock, for general working capital purposes and to pay transaction fees and expenses; Dallas integrated manufacturer and distributor of home decorative accessories.

INVISTA: $1.8 billion credit facility (Ba3/BB); JPMorgan, Deutsche and Credit Suisse First Boston, with JPMorgan listed on the left; $400 million revolver at Libor plus 275 bps; $150 million term A at Libor plus 275 bps; $1.2 billion term B at Libor plus 300 bps; help back the acquisition of Invista by Koch Industries Inc. from DuPont for $4.4 billion in cash; Wilmington, Del., integrated fiber and intermediates business.

ITRON INC.: $240 million credit facility (Ba3/BB-); Bear Stearns sole lead arranger, sole bookrunner and syndication agent, Wells Fargo administrative agent; $55 million revolver talked at Libor plus 275 bps; $185 million term B at Libor plus 225 bps, with step-down to Libor plus 200 bps of leverage falls below 2x; help fund acquisition of Schlumberger's Electricity Metering business; Spokane, Wash., provider of technology for collecting and analyzing electric, gas and water usage data to energy and water industries.

KANSAS CITY SOUTHERN: $250 million credit facility (BB+); Morgan Stanley and Scotia; $100 million revolver at Libor plus 225 bps; $150 million term B at Libor plus 250 bps; refinancing; Kansas City, Mo., holding company with principal operations in rail transportation.

KB TOYS INC.: $350 million senior secured DIP; Fleet Retail Group Inc.; $325 million tranche A revolver with a $150 million letter of credit sublimit, at Libor plus 225 to 275 bps depending on availability, unused fee of 37.5 bps; $25 million tranche B revolver at Libor plus 600 bps, unused fee of 75 bps; operating expenses, capital expenditures and general corporate purposes; Pittsfield, Mass., toy retailer.

LUIGINO'S INC.: $205 million credit facility; Goldman Sachs and NatCity; $30 million revolver at Libor plus 275 bps; $175 million term loan at Libor plus 275 bps; refinance debt and fund a dividend payment; Duluth, Minn., frozen prepared foods company.

MEDCO HEALTH SOLUTIONS INC.: $800 million term loan A (Ba1/BBB) talked at Libor plus 125 bps; JPMorgan and Citigroup; repay and eliminate the existing term loan A and term loan B; Franklin Lakes, N.J., pharmacy benefit manager.

METOKOTE CORP.: $210 million credit facility; Wachovia; $135 million term B at Libor plus 325 bps (B1/B+); $45 million second lien term loan at Libor plus 575 bps (B3/B-); $30 million revolver at Libor plus 300 bps (B1/B+); dividend recapitalization; Lima, Ohio, protective coating applications company.

MICROCELL TELECOMMUNICATIONS: C$450 million credit facility; JPMorgan and Credit Suisse First Boston; C$50 million six-year revolver at Libor plus 400 bps (B-), 50 bps commitment fee; C$200 million seven-year term A at Libor plus 400 bps denominated in U.S. dollars (B-); C$200 million 71/2-year second lien term B at Libor plus 700 bps (CCC-), 2% Libor floor denominated in U.S. dollars; refinancing; Montreal, Quebec, telecommunications company.

THE NEWARK GROUP INC.: $125 million revolver (B1/B+); Wachovia; refinance existing bank debt; Cranford, N.J., company that recovers, manufactures and transforms recycled paper and cardboard.

OWENS-ILLINOIS INC.: $1.437 billion credit facility due April 2008 (B1/BB-/B+), split into $170 million U.S. term loan, $382 million European term loan, $385 million European delayed draw term loan; $500 million bridge loan; all priced at Libor plus 300 bps; Citigroup, Deutsche and Bank of America; finance the proposed acquisition of BSN Glasspack SA; Toledo, Ohio, manufacturer of packaging products.

THE PANTRY INC.: $415 million senior credit facility (B1/B+); Wachovia and Credit Suisse First Boston; $70 million six-year revolver at Libor plus 275 bps, 75 bps commitment fee; $345 million seven-year term loan at Libor plus 275 bps; refinance existing senior credit facility; Sanford, N.C., convenience store chain.

PATRIOT MEDIA & COMMUNICATIONS CNJ LLC: $185 million credit facility (B1); Bank of New York; $120 million term B due 2011 at Libor plus 300 bps, stepdown to Libor plus 275 bps; $25 million term A due 2010 at Libor plus 300 bps; $40 million revolver due 2010 at Libor plus 300 bps; repricing and adding on $20 million to existing term B; Greenwich, Conn., cable operator.

PAXTON MEDIA GROUP LLC: $350 million credit facility; Wachovia left lead bank, Fleet, Bank of New York, SunTrust and KeyBank agents; $200 million seven-year revolver at Libor plus 150 bps; $150 million seven-year term A at Libor plus 150 bps; refinance; Peducah, Ky., media company.

PGT INDUSTRIES INC.: $195 million credit facility; UBS sole bookrunner; $25 million five-year revolver talked at Libor plus 275 bps; $120 million six-year first lien term loan talked at Libor plus 300 bps; $50 million 61/2-year second lien term loan talked at Libor plus 625 bps; help support the buyout of PGT by JLL Partners Inc.; Nokomis, Fla., manufacturer of custom windows, doors and patio rooms.

PLY GEM INDUSTRIES INC.: $255 million senior secured credit facility (B1/B+); UBS and Deutsche joint bookrunners, CIBC and Merrill co-arrangers and documentation agents; $55 million five-year revolver at Libor plus 250 bps; $200 million seven-year term B at Libor plus 250 bps; help support the company's acquisition by Caxton-Iseman Capital Inc. from Nortek Inc., which was completed Feb. 12; Kearney, Mo., manufacturer and distributor of products for use in the home renovation and construction markets.

PRECISE TECHNOLOGY INC.: $206 million credit facility; Wachovia; $135 million term loan (B1/B+) talked at Libor plus 300 to 350 bps; $51 million second lien term loan (B2/B-) talked around Libor plus 600 bps; $20 million revolver (B1/B+) at Libor plus 300 bps; repurchase subordinated debt and fund small dividend; North Versailles, Pa., contract injection molder.

RENAL CARE GROUP INC.: $475 million five-year credit facility; Bank of America; $325 million term loan; $150 million revolver; Libor plus 150 bps on both tranches; fund the acquisition of National Nephrology Associates Inc., de novo development, acquisitions, share repurchases and other general corporate purposes; Nashville, Tenn., specialized dialysis services company.

SKILL CO.: $140 million credit facility; BNP Paribas; $120 million term B; $20 million revolver; support leveraged buyout.

SOTHEBY'S HOLDINGS INC.: $200 million senior secured credit facility; GE Commercial Finance Corporate Lending; refinance; New York auction company.

TEAM HEALTH INC.: Expected close late March; $350 million credit facility (B1/B+); Bank of America and JPMorgan joint lead arrangers and joint bookrunners, Bank of America administrative agent, JPMorgan syndication agent, Merrill Lynch documentation agent; $100 million at Libor plus 250 bps; $250 million term B at Libor plus 325 bps; refinance existing senior debt, help fund the tender offer of 12% senior subordinated notes that are callable at 108 and redeem preferred shares that carry a 10% PIK; Knoxville, Tenn., provider of outsourced physician services.

TRANSPORTATION TECHNOLOGIES INDUSTRIES: $265 million credit facility; Credit Suisse First Boston, Lehman Brothers and Wachovia Securities joint lead arrangers, with CSFB administrative agent and Wachovia syndication agent; $50 million five-year revolver at Libor plus 300 bps (B2/B); $115 million five-year term loan at Libor plus 375 bps (B2/B); $100 million second lien five-year term B at Libor plus 700 bps (B3/CCC+); refinance; Chicago maker of parts, subassemblies and component systems for manufacturers and aftermarket suppliers of vehicles.

TRUE TEMPER CORP.: $130 million credit facility (B1/B+); Credit Suisse First Boston and Anteres joint lead arrangers, joint bookrunners; $20 million five-year revolver at Libor plus 250 bps, 50 bps commitment fee; $110 million seven-year term B at Libor plus 250 bps; help support LBO by management and Gilbert Global Equity Partners from Cornerstone Equity Investors; Memphis, Tenn., sporting goods manufacturer.

UNISOURCE ENERGY CORP. $490 million credit facility; JPMorgan, Credit Suisse First Boston and Lehman Brothers joint lead arranger; $340 million five-year synthetic letter-of-credit facility at Libor plus 225 bps at Tucson Electric Power Co.; $60 million five-year revolver at Libor plus 225 bps, 50 bps commitment fee at Tucson Electric; $40 million at Libor plus 250 bps at UniSource Energy Services; $50 million revolver at Libor plus 350 bps at Saguaro Utility Group LP; support acquisition of UniSource by Saguaro and refinance existing debt; Tucson, Ariz., electric company.

VULCAN ENERGY CORP.: $175 million term B talked at Libor plus 350 bps (BB); Fleet sole lead arranger; help fund the acquisition of Plains Resources Inc. with Vulcan Capital as equity sponsor; Plains Resources is a Houston independent energy company.

VWR INTERNATIONAL: $540 million credit facility; Deutsche Bank and Citigroup; $125 million five-year multi-currency revolver at Libor plus 250 bps; $415 million seven-year term loan at Libor plus 275 bps; also €150 million seven-year term loan at Libor plus 300 bps; support the acquisition of VWR by Clayton, Dubilier & Rice Inc. from Merck KGaA for $1.65 billion; West Chester, Pa., distributor of laboratory supplies to the industrial, pharmaceutical, educational and government markets.

ON THE HORIZON:

ADELPHIA COMMUNICATIONS CORP.: $8.8 billion fully-committed exit financing package; JPMorgan Chase & Co., Credit Suisse First Boston, Citigroup Inc. and Deutsche Bank AG; $5.5 billion senior secured credit facility including a $750 million revolver; $3.3 billion bridge facility; finance cash payments under the proposed Chapter 11 plan of reorganization; Greenwood Village, Colo., cable television company.

AIR CANADA: $585 million exit financing facility; General Electric Capital Corp.; $425 million seven-year term A at Libor plus 425 bps; $160 term B due March 31, 2013 at Libor plus 400 bps; secured by most company assets; general corporate purposes; Montreal-based airline.

BRISTOL WEST HOLDINGS INC.: $125 million credit facility; Credit Suisse First Boston joint lead arranger, bookrunner and administrative agent, ING joint lead arranger, bookrunner and syndication agent, Bear Stearns and UBS co-documentation agents; $50 million five-year revolver at Libor plus 150 bps, 50 bps commitment fee; $35 million six-year term A at Libor plus 150 bps $40 million seven-year term B at Libor plus 200 bps; repay $71.5 million outstanding on three existing term loans; Davie, Fla., non-standard private passenger automobile insurer.

DUANE READE INC.: Up to $495 million in debt financing; Banc of America Securities LLC; help support the company's acquisition by an affiliate of Oak Hill Capital Partners LP; expected to close in second calendar quarter 2004; New York drugstore chain.

FLEMING COS. INC.: $250 million exit financing facility; $240 million revolver; $10 million term B; Lewisville, Texas, distributor of consumable goods and supermarket operator.

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 Loews-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.

NORTHWESTERN CORP.: $100 million DIP; Bank One; $100 million 364-day revolver at Libor plus 300 bps, 50 bps commitment fee; Sioux Falls, S.D., provider of electricity and natural gas.

POLYPORE INC.: New credit facility via JPMorgan to support buyout by Warburg Pincus LLC from The InterTech Group Inc. and GTCR Golder Rauner LLC; North Charleston, S.C., developer, manufacturer, and marketer of specialized microporous filtration products.

FULL DOCUMENTATION FOR RECENT DEALS AND AMENDMENTS:

CHESAPEAKE CORP.: Amended and restated $250 million senior credit facility; dated Feb. 23.

http://www.sec.gov/Archives/edgar/data/19731/000001973104000018/csk8k_022704ex41.htm

DOANE PET CARE CO.: Amendment extending revolver, decreasing size, changing covenants and upping pricing; dated March 9.

http://www.sec.gov/Archives/edgar/data/1002211/000095012904001200/h13224exv10w18.htm

JOHNSONDIVERSEY INC.: Amended credit facility reducing rates on the term B and revising financial covenants; dated Feb. 24.

http://www.sec.gov/Archives/edgar/data/1262768/000119312504029512/dex991.htm

© 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.