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 7/15/2005 in the Prospect News Bank Loan Daily.

Bank Loan Calendar

Total amount of deals being marketed: $46.6985 billion

JULY:

COLLINS & AIKMAN CORP.: $300 million debtor-in-possession facility due May 2007; JPMorgan Chase; $200 million revolver at Prime plus 150 bps; $100 million term loan at Prime rate plus 250 bps; working capital and general corporate purposes; Troy, Mich., designer, engineer and manufacturer of automotive interior components.

CONCERTO SOFTWARE: Bank meeting late July; $475 million credit facility; JP Morgan and Deutsche Bank Securities leads, Wells Fargo Foothill documentation agent; $425 million six-year term B; $50 million six-year revolver; also $250 million second-lien 61/2-year term loan led by JP Morgan and Lehman Brothers, D.B. Zwirn Finance administrative agent that was pre-syndicated; help finance purchase of Aspect Communications Corp.; Westford, Mass., provider of contact center software and services.

GABLES RESIDENTIAL TRUST: Likely late-July, early August launch; new credit facility; Lehman; help fund LBO by ING Clarion Partners; Boca Raton, Fla., real estate investment trust focused on multifamily apartment communities.

OMNICARE INC.: Late July/early August; $2.9 billion credit facility; JPMorgan, Lehman Brothers and SunTrust Capital Markets joint lead arrangers and joint bookrunners, JPMorgan and Lehman Brothers co-syndication agents, SunTrust administrative agent, CIBC World Markets, Merrill Lynch and Wachovia Securities co-documentation agents; $700 million five-year term loan talked at Libor plus 50 to 175 bps based on ratings; $800 million five-year revolver talked at Libor plus 50 to 175 bps based on ratings, 12.5 to 37.5 bps commitment fee based on ratings; $1.4 billion 364-day loan facility at Libor plus 75 bps, 12.5 to 37.5 bps commitment fee based on ratings; fund acquisition of NeighborCare Inc., refinance existing debt and pay related fees; Covington, Ky., provider of pharmaceutical care for the elderly.

OZBURN-HESSEY LOGISTICS LLC: Bank meeting July 19; $180 million credit facility (B2/B+); Morgan Stanley and Bear Stearns joint lead arrangers and joint bookrunners, Morgan Stanley left lead; $40 million five-year revolver; $140 million seven-year term B; help fund LBO by Welsh, Carson, Anderson & Stowe and for general corporate purposes; Nashville-based third-party logistics provider.

PACIFIC ENERGY PARTNERS LP: $400 million five-year secured revolver; Bank of America and Lehman, with Bank of America on the left; help fund acquisition of some terminal and pipeline assets from subsidiaries of Valero LP and refinance existing credit facilities; Long Beach, Calif., master limited partnership engaged in the business of gathering, transporting, storing and distributing crude oil and other related products.

AUGUST:

WALTER INDUSTRIES INC.: Targeted late-August, early September launch; $1.7 billion in new credit facilities; Banc of America Securities LLC and Morgan Stanley & Co, Bank of America left lead; energy/homebuilding/financing group $575 million credit facility containing $200 million revolver, $375 million term B to fund acquisition of Mueller Water Products Inc. and refinance existing revolver debt; water group $1.125 billion credit facility containing $125 million revolver, $1 billion term B to fund a dividend to U.S. Pipe, fund a dividend to Walter and refinance existing debt; Tampa, Fla., diversified company that operates in homebuilding, related financing, and water transmission products, and is also a producer of high-quality metallurgical coal.

UPCOMING CLOSINGS

AAT COMMUNICATIONS CORP.: $335 million credit facility; TD Securities and Credit Suisse First Boston, with TD left lead and administrative agent; $50 million 61/2-year revolver (B1/BB+) at Libor plus 225 bps, 50 bps commitment fee; $200 million seven-year term B (B1/BB+) at Libor plus 175 bps; $85 million eight-year second-lien term loan (B2/BB) at Libor plus 275 bps, 101 soft call protection; dividend recapitalization; St. Louis-based owner and operator of wireless communications towers.

ACCO BRANDS CORP.: $750 million credit facility (BB-); Citigroup and ABN Amro, with Citi left lead; $150 million five-year revolver talked at Libor plus 200 bps; $200 million five-year term A talked at Libor plus 200 bps; $400 million seven-year term B talked at Libor plus 200 bps; help fund Fortune Brands Inc.'s spin-off of Acco World Corp. and merger of Acco with General Binding Corp.; Illinois-based supplier of branded office products.

ALLEGHENY ENERGY SUPPLY CO. LLC: $1.075 billion term loan at Libor plus 175 bps, step down to Libor plus 150 bps on upgrades; Citigroup; refinance existing $744 million term loan, refinance approximately $331 million 10.25% senior notes due November 2007 and redeem $35 million of 13% senior notes due November 2007; subsidiary of Greensburg, Pa.,-based Allegheny Energy Inc. that owns and operates electric generating facilities.

ARBY'S RESTAURANT GROUP INC.: $700 million senior secured credit facility (B1/B+); Citigroup, Bank of America and Credit Suisse First Boston; $600 million term loan at Libor plus 225 bps, step down to Libor plus 200 bps if leverage is less than 31/2x; $100 million revolver at Libor plus 200 bps; fund acquisition of RTM Restaurant Group and refinance debt; restaurant chain franchised by Triarc, a New York-based holding company.

BI-LO LLC: $420 million credit facility (B1/B); Bear Stearns; $75 million five-year revolver talked at Libor plus 400 bps; $345 million six-year term B talked at Libor plus 400 bps; 103, 102, 101 hard call protection; refinance some acquisition loans that were put in place by the sponsors; Greenville, S.C., supermarket operator owned by Lone Star Funds.

BOART LONGYEAR CO.: $500 million credit facility; UBS; $75 million revolver (B1/B+) at Libor plus 275 bps; $325 million first-lien term loan (B1/B+) at Libor plus 250 bps; $100 million second-lien term loan (B3/B-) at Libor plus 700 bps; fund Advent International's acquisition of the company from Anglo American plc; South Africa-based provider of drilling services and equipment.

BRAND SERVICES INC.: $302.4 million credit facility; Credit Suisse First Boston and JPMorgan joint lead arrangers and joint bookrunners, with CSFB left lead and JPMorgan syndication agent; $287.4 million seven-year senior secured term C (B2/B) at Libor plus 300 bps; $15 million seven-year synthetic letter-of-credit facility at Libor plus 300 bps; also trying to raise Canadian sub-limit to the term loan with likely pricing of Libor plus 325 bps; fund acquisition of the operating assets of the Aluma Systems group of companies; Chesterfield, Mo., provider of scaffolding services.

BURGER KING CORP.: $1.15 billion credit facility (Ba2/B+); JPMorgan and Citigroup, with JPMorgan left lead; $750 million seven-year term B at Libor plus 175 bps; $250 million six-year term A at Libor plus 175 bps; $150 million revolver at Libor plus 175 bps; refinance existing debt; Miami, Fla.-based fast food hamburger chain.

CARRIZO OIL & GAS INC.: $150 million six-year second-lien term loan at Libor plus 600 bps; Credit Suisse First Boston; working capital; Houston-based explorer, developer, and producer of natural gas and oil.

CII CARBON LLC: $270 million credit facility (B1/B+); JPMorgan; $50 million five-year revolver at Libor plus 200 bps; $220 million seven-year term B at Libor plus 200 bps; refinance existing debt; New Orleans-based producer of calcined petroleum coke.

CONSOLIDATED COMMUNICATIONS HOLDINGS INC.: $395 million 61/2-year term D at Libor plus 250 bps (B1/BB-); Citigroup and Credit Suisse First Boston, with Citi left lead; in connection with IPO; repay term loan A and term loan C, repurchase some senior notes and for general corporate purposes; Mattoon, Ill., provider of voice and data communication services.

CUMULUS MEDIA INC.: $700 million senior secured credit facility (Ba2/B+); JPMorgan and Bank of America, with JPMorgan left lead; $350 million seven-year term A talked at Libor plus 125 bps; $350 million seven-year revolver talked at Libor plus 125 bps; replace existing $675 million bank loans; Atlanta-based radio company.

DAVITA INC.: $3.15 billion credit facility (B1/BB-); JPMorgan sole bookrunner, Credit Suisse First Boston involved; $250 million six-year revolver; $250 million six-year term A; $2.65 billion seven-year term B at Libor plus 225 bps, step down to Libor plus 200 bps under certain conditions; help fund acquisition of Gambro Healthcare's U.S. assets and refinance existing facility; El Segundo, Calif., provider of dialysis services.

EPCO INC.: $1.9 billion credit facility (Ba3/B+); Lehman Brothers and Citigroup (Lehman left lead on term B, Citi left lead on pro rata); $1 billion five-year term B talked at Libor plus 250 bps; $300 million three-year revolver talked at Libor plus 225 bps; $600 million three-year term A talked at Libor plus 225 bps; refinance existing bridge loan; privately owned company controlled by Dan L. Duncan, that owns the general partner of Houston-based midstream energy company Enterprise Products Partners LP and Houston-based pipeline company Texas Eastern Products Pipeline Co. LLC.

F&W PUBLICATIONS INC.: $400 million credit facility; JPMorgan and Credit Suisse First Boston, with JPMorgan on the left; $50 million revolver talked at Libor plus 300 bps; $250 million first-lien term loan talked at Libor plus 300 bps; $100 million second-lien term loan talked at Libor plus 700 bps; help fund LBO by Abry Partners from Providence Equity Partners; Cincinnati-based publisher of special interest magazines and books.

FRESENIUS MEDICAL CARE AG: Pro rata bank meeting was June 23, term B likely launching in the Fall; $5 billion senior credit facility; Bank of America and Deutsche Bank, with Bank of America left lead; $1 billion revolver talked at Libor plus 150 bps; $1.5 billion five-year term A talked at Libor plus 150 bps; $2.5 billion seven-year term B; finance acquisition of Renal Care Group Inc. for about $3.5 billion, plus the assumption of about $500 million of Renal debt, and refinance Fresenius credit facility; Bad Homburg, Germany, dialysis products and services provider.

GENOA HEALTHCARE: $160 million credit facility; Morgan Stanley and GE Capital Corp., with Morgan Stanley left lead; $20 million revolver (B2) talked at Libor plus 350 bps; $90 million first-lien term loan (B2) talked at Libor plus 350 bps; $50 million second-lien term loan (Caa1) talked at Libor plus 800 bps, call protection 102, 101; dividend recapitalization; Tampa, Fla., manager of 61 skilled nursing facilities.

GLOBAL TOYS ACQUISITION LLC: $2 billion asset-based revolver; Deutsche Bank and Bank of America; help fund Toys "R" Us Inc. LBO by Bain Capital Partners LLC, Kohlberg Kravis Roberts & Co. and Vornado Realty Trust; Toys "R" Us is a Wayne, N.J.-based specialty toy retailer.

GXS CORP.: $450 million credit facility; Citigroup; $50 million revolver (B2/B+) talked at Libor plus 325 bps; $300 million first-lien term loan (B2/B+) talked at Libor plus 325 bps; $100 million second-lien term loan (Caa1/CCC+) talked at Libor plus 650 bps, call protection 102, 101; finance the acquisition of G International Inc. and to repay debt; Gaithersburg, Md., provider of B2B e-commerce solutions.

HANLEY WOOD INC.: $352 million credit facility (B); Credit Suisse First Boston and JPMorgan joint lead arrangers, with CSFB left lead; $60 million six-year revolver talked at Libor plus 300 bps; $260 million seven-year term loan talked at Libor plus 300 bps; $32 million seven-year delayed-draw term loan talked at Libor plus 300 bps; help fund LBO by JPMorgan Partners, Wasserstein & Co., and current and former Hanley Wood management; Washington, D.C., business-to-business media company serving residential and commercial construction industries.

HELM HOLDING CORP.: $385 million credit facility; Credit Suisse First Boston; $80 million six-year revolver, 50 bps commitment fee; $235 million six-year first-lien term B at Libor plus 250 bps; $70 million seven-year second-lien term loan at Libor plus 650 bps; help fund K-1 Ventures' acquisition of the company; San Francisco-based locomotive and railcar leasing company.

HIT ENTERTAINMENT PLC: $453 million credit facility (B1/B); Merrill Lynch and Deutsche Bank, with Merrill left lead; $77 million six-year revolver talked at Libor plus 225 bps; $376 million seven-year term B talked at Libor plus 250 bps; help fund LBO by Apax Partners; London-based producer of children's television programming.

HOME BUYERS WARRANTY CORP.: $200 million credit facility (B2); Bank of America; $25 million revolver talked at Libor plus 275 bps; $175 million six-year term B talked at Libor plus 275 bps; recapitalization; Aurora, Colo., provider of warranty protection for new, pre-owned, manufactured and systems built homes.

INSIGHT MIDWEST: $1.1 billion term C (BB-) at Libor plus 200 bps to reprice and replace $1.1 billion term B at Libor plus 275 bps; Bank of New York and Bank of America co-lead arrangers and bookrunners, JPMorgan also a bookrunner, Bank of New York administrative agent, Bank of America syndication agent; subsidiary of Insight Communications Co. Inc., a New York-based cable television system operator.

INTEGRATED ELECTRICAL SERVICES INC.: $100 million five-year asset-based revolver; Credit Suisse First Boston; refinance; Houston-based provider of electrical solutions to the commercial and industrial, residential and service markets.

IPC ACQUISITION CORP.: $485 million senior credit facility; Goldman Sachs; $50 million revolver due Dec. 31, 2010 (B2/B+) talked at Libor plus 275 bps; $285 million six-year first-lien term loan (B2/B+) talked at Libor plus 275 bps; $150 million seven-year second-lien term loan (B3/B-) talked at Libor plus 650 to 700 bps; refinance existing credit facility, fund tender offer for $150 million 11.5% senior subordinated notes due Dec. 15, 2009, finance the repurchase of some equity securities and for general corporate purposes; New York-based provider of mission-critical communications solutions to global enterprises.

JARDEN CORP.: $380 million senior secured term loan B2 (B1/B+) at Libor plus 175 bps; Citigroup and CIBC; help fund the acquisition of The Holmes Group Inc.; Rye, N.Y., provider of niche branded consumer products.

JOBSON MEDICAL INFORMATION LLC: $115 million credit facility; Harris Nesbitt and Bank of New York, with Harris Nesbitt left lead; $15 million five-year revolver at Libor plus 375 bps; $75 million 61/4-year term B at Libor plus 375 bps; $25 million 63/4-year second-lien term loan at Libor plus 700 bps, call protection 102, 101; help fund Wicks Medical Information LLC's acquisition of Jobson Publishing LLC; Bloomfield, N.J., specialty healthcare communications, publishing and medical education company.

KEY ENERGY SERVICES INC.: $550 million credit facility; Lehman Brothers; $400 million seven-year delayed-draw term loan talked at Libor plus 300 bps; $85 million five-year pre-funded letter of credit facility talked at Libor plus 300 bps; $65 million five-year revolver talked at Libor plus 275 basis points; fund the purchase of some bonds if necessary; Midland, Tex., rig-based, onshore well service company.

LIFEPOINT HOSPITALS INC.: $150 million term B add-on at Libor plus 162.5 bps; Citigroup; fund an acquisition and help redeem some convertibles; Brentwood, Tenn., hospital company focused on providing healthcare services in non-urban communities.

MADISON RIVER CAPITAL LLC: $525 million seven-year credit facility (B+); $75 million revolver at Libor plus 275 bps; $450 million term B at Libor plus 275 bps; refinance RTFC debt and repay some senior notes; Mebane, N.C., operator of rural local telephone companies.

THE MEOW MIX CO.: $215 million credit facility; UBS and Lehman, with UBS left lead; $25 million five-year revolver; $190 million six-year first-lien term loan at Libor plus 325 bps, step down to Libor plus 300 bps at 3x leverage; recapitalization; Secaucus, N.J., cat food company.

MID-WESTERN AIRCRAFT SYSTEMS: $875 million credit facility (B1/BB-); Citigroup; $175 million revolver at Libor plus 275 bps; $700 million 61/2-year term loan at Libor plus 225 bps; help fund Onex Corp.'s acquisition of Mid-Western Aircraft Systems, the Wichita/Tulsa Division of Boeing Commercial Airplanes.

MOTORCITY CASINO: $625 million credit facility (B1/B+); Deutsche Bank and Merrill Lynch, with Deutsche left lead; $75 million revolver talked at Libor plus 250 bps; $550 million term B talked at Libor plus 250 bps; help fund the acquisition of MotorCity by Ilitch Holdings Inc. from MGM Mandalay.; Detroit-based gaming company.

MYLAN LABORATORIES INC.: $475 million credit facility (Ba1/BBB-); Merrill Lynch; $275 million five-year senior secured term loan at Libor plus 150 bps; $200 million five-year revolver; term loan to help fund Dutch auction self-tender for up to 48.8 million shares - up to $1 billion - and a $250 million share repurchase program; revolver for general corporate purposes; Canonsburg, Pa., pharmaceutical company.

NATURAL PRODUCTS GROUP LLC: $253.5 million credit facility; CIBC; $15 million revolver talked at Libor plus 325 bps; $175 million first-lien term loan talked at Libor plus 325 bps; $63.5 million second-lien term loan talked at Libor plus 700 bps; dividend recapitalization and refinancing; California-based natural personal care products company.

NEWKIRK MASTER LTD. PARTNERSHIP: $760 million three-year senior secured term loan (Ba2/BB+) at Libor plus 200 bps, contains two one-year extensions for 25 bps fee, 101 call protection for one year; Key Bank and Bank of America, with Key Bank on the left; refinance existing mortgage debt and existing bank debt; owner of office, retail and industrial properties.

NORCROSS SAFETY PRODUCTS LLC: $138 million credit facility (B1/BB-); Credit Suisse First Boston sole lead; $88 million seven-year term B at Libor plus 225 bps, $50 million five-year revolver at Libor plus 225 bps, 50 bps commitment fee; help fund LBO by Odyssey Investment Partners LLC; Oak Brook, Ill., maker of personal protection equipment.

PAETEC COMMUNICATIONS INC.: $200 million credit facility (B2/B); Deutsche Bank and CIT Group; $160 million six-year term loan talked at Libor plus 350 bps; $40 million five-year revolver talked at Libor plus 350 bps; in conjunction with IPO; replace existing senior secured credit facility and for general corporate purposes; Fairport, N.Y., competitive local exchange carrier.

PATRIOT MEDIA & COMMUNICATIONS CNJ LLC: $282 million credit facility; Bank of New York; $25 million seven-year revolver talked at Libor plus 250 bps; $50 million seven-year term A talked at Libor plus 250 bps; $160 million 71/2-year term B talked at Libor plus 275 bps; $47 million eight-year second-lien term loan talked at Libor plus 550 bps; dividend recapitalization and to refinance existing debt; Greenwich, Conn., cable operator.

PENN NATIONAL GAMING INC.: $2.725 billion senior secured credit facility (Ba3/BB-); Deutsche Bank, Goldman Sachs and Lehman Brothers, with Deutsche left lead; $750 million five-year revolver at Libor plus 200 bps; $325 million six-year term A at Libor plus 200 bps; $1.65 billion seven-year term B at Libor plus 200 bps; fund acquisition of Argosy Gaming Co.; Wyomissing, Pa., owner and operator of gaming properties.

PETROHAWK ENERGY CORP.: $550 million credit facility; BNP Paribas; $150 million secured second-lien term loan talked at Libor plus 450 to 500 bps (50% drawn at closing, with the remaining 50% available within 45 days of closing); $400 million senior secured revolver ($280 million will be available at closing); help fund acquisition of Mission Resources Corp. and refinance existing revolver; Houston-based oil and gas company.

POWERWELL SERVICES INC.: $250 million credit facility; Bank of America; $50 million revolver; $200 million term loan talked at Libor plus 325 bps; purchase of an unidentified French concern; Cypress, Texas, company that provides oil and gas operator's temporary hydrocarbon production and measurement capabilities.

PRIMARY ENERGY HOLDINGS LLC: $150 million credit facility; Royal Bank of Canada and CIBC joint bookrunners, with RBC left lead; $135 million term loan talked at Libor plus 300 to 325 bps; $15 million revolver talked ay Libor plus 300 to 325 bps; in connection with plans to take a portion of the company public in an Enhanced Income Securities Offering; Oak Brook, Ill., developer, owner and operator of on-site combined heat and power and recycled energy projects.

PSYCHIATRIC SOLUTIONS INC.: $475 million credit facility (B1/B+); Citigroup; $325 million term loan due 2012 at Libor plus 200 bps, step down to Libor plus 175 bps if leverage is 4.75x; $150 million amended and restated revolver due 2009 talked at Libor plus 250 bps; help fund the acquisition of 20 inpatient psychiatric facilities from Ardent Health Services; Franklin, Tenn., provider of in-patient behavioral health care services.

PUERTO RICO CABLE ACQUISITION CO. INC. (CHOICE CABLE TV): $114 million credit facility; TD Securities; $78 million first-lien term loan at Libor plus 325 bps, step down to Libor plus 300 bps if leverage is less than or equal to 5x; $10 million revolver at Libor plus 325 bps, step down to Libor plus 300 bps if leverage is less than or equal to 5x; $26 million second-lien term loan at Libor plus 625 bps; recapitalization; Puerto Rico-based cable company.

REDDY ICE HOLDINGS INC.: $300 million credit facility (B1/B+) in connection with IPO; CIBC and Credit Suisse First Boston; $240 million term loan at Libor plus 175 bps; $60 million revolver; help refinance existing credit facility and tender for $152 million of 8 7/8% senior subordinated notes; Dallas packaged ice company.

REGENCY GAS SERVICE LLC: $400 million credit facility; UBS; $90 million revolver (B1) talked at Libor plus 275 bps; $248 million first-lien term loan (B1) talked at Libor plus 275 bps; $62 million second-lien term loan (B3) talked at Libor plus 600 bps; help fund capital expenditures at the Winnsboro Pipeline project; Dallas-based midstream gas gathering, processing and transmission company.

SMITHFIELD FOODS INC.: $1 billion secured revolver talked at Libor plus 87.5 bps, 17.5 bps undrawn fee; JPMorgan and Citigroup, with JPMorgan left lead; refinance; Smithfield, Va., processor and marketer of fresh pork and processed meats, and hog producer.

SUNGARD DATA SYSTEMS INC.: $5 billion credit facility (B1/B+); JPMorgan and Citigroup joint lead arrangers, JPMorgan, Citigroup and Deutsche Bank joint bookrunners, JPMorgan administrative agent, Deutsche and Citigroup co-syndication agents, Goldman Sachs and Morgan Stanley documentation agents; $1 billion six-year revolver talked at Libor plus 250 to 275 bps; $4 billion 71/2-year term loan talked at Libor plus 275 bps; help fund LBO by Solar Capital Corp., company formed by Silver Lake Partners, Bain Capital, The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. LP, Providence Equity Partners and Texas Pacific Group; Wayne, Pa., provider of integrated software and processing solutions, primarily for financial services.

UNITED SUBCONTRACTORS INC.: $305 million credit facility (B1/B+); Royal Bank of Scotland and Citigroup joint lead arrangers, with RBS left lead and administrative agent; $265 million seven-year term B at Libor plus 275 bps, step down to Libor plus 250 bps if leverage below 3x; $40 million six-year revolver at Libor plus 275 bps; finance acquisition of CSCI, pay dividend and refinance bank debt; Salt Lake City-based installer of residential and commercial insulation systems and provider of related products and services.

VIRGIN MOBILE: $600 million credit facility (B3/B-); JPMorgan and Merrill Lynch joint lead arrangers, with JPMorgan the left lead; $100 million five-year revolver at Libor plus 450 bps; $500 million 61/2-year term B at Libor plus 450 bps; dividend payment and refinance existing debt; United Kingdom-based mobile virtual network operator.

WASTEQUIP INC.: $255 million credit facility; Credit Suisse First Boston lead arranger; $40 million five-year revolver (B2/B+), 50 bps commitment fee; $140 million six-year term B (B2/B+); $75 million seven-year second-lien term loan (B3/B-); fund LBO by DLJ Merchant Banking Partners from CIVC Partners; Beachwood, Ohio, designer, manufacturer, and marketer of equipment used to collect, process, and transport solid and liquid waste materials.

YONKERS RACEWAY: $225 million term loan talked at Libor plus 350 to 375 bps; Merrill Lynch bookrunner, Bear Stearns co-arranger; fund renovations and additions to the facility that will enable it to have a slot racetrack casino; Yonkers, N.Y., horse racing track.

ON THE HORIZON:

ACTIVANT SOLUTIONS HOLDING INC.: New senior credit facility; JPMorgan; revolver; term loan; in connection with IPO; purchase outstanding 10½% senior notes due 2011, purchase floating-rate senior notes due 2010 and make a dividend payment to Hicks Muse; Austin, Texas, provider of vertical enterprise resource planning solutions.

AMEDISYS INC.: $75 million senior secured credit facility; Wachovia Capital Markets LLC and GECC Capital Markets Group Inc. co-lead arrangers, with Wachovia on the left; contains five-year term loan tranche; help fund acquisition of Housecall Medical Resources Inc.; Baton Rouge, La., home health nursing company.

BLAIR CORP.: $200 million credit facility; PNC; help fund proposed stock tender buyback; Warren, Pa., multi-channel direct marketer of women's and men's apparel and home products.

BROOKSTONE INC.: $100 million senior credit facility; Goldman Sachs Credit Partners LP and Bank of America; also $205 million bridge loan; help fund LBO by OSIM International, JW Childs Associates LP and Temasek Holdings Ltd.; Merrimack, N.H., product developer and specialty retail company.

CF INDUSTRIES HOLDINGS INC.: New senior credit facility; refinance $140 million revolver; in connection with common stock IPO; Long Grove, Ill., manufacturer and distributor of nitrogen and phosphate fertilizer products.

THE DOLAN FAMILY GROUP/CABLEVISION SYSTEMS CORP.: $2.8 billion opco senior secured credit facility; Bank of America and Merrill Lynch joint lead arrangers and joint bookrunners, with Bank of America administrative agent; $600 million six-year term A; $1.7 billion seven-year term B; $500 million revolver; finance proposal to take Cablevision private and refinance Cablevision debt; Bethpage, N.Y., telecom and cable business.

FORMICA CORP.: Post-Labor Day business; $350 million credit facility; Bank of America; $50 million revolver; $225 million first-lien term loan of which at least half will be dollar denominated and the remainder will contain a U.K. piece, a Canadian piece and another European piece; $75 million second-lien term loan; dividend payment and buy back some existing bonds; Cincinnati-based designer and manufacturer of surfacing materials.

THE GEO GROUP INC.; $175 million credit facility; BNP Paribas; $75 million term loan; $100 million revolver; help fund acquisition of Correctional Services Corp., refinance GEO's existing $41 million term loan and for general corporate purposes; Boca Raton, Fla., provider of correctional and detention management, health and mental health, and other diversified services to federal, state, and local government agencies.

HUNTSMAN LLC/HUNTSMAN INTERNATIONAL LLC: New senior credit facility; Deutsche expected to be involved; help with merger of the two companies into one entity; Houston-based chemical company.

KAISER ALUMINUM CORP.: $250 million exit facility; J.P. Morgan Securities Inc. lead arranger, sole bookrunner and syndication agent, JPMorgan Chase Bank administrative agent, CIT Group/Business Credit Inc. co-arranger; $200 million five-year revolver; $50 six-year million term loan at Libor plus 550 bps; also $200 million one-year debtor-in-possession facility at Libor plus 225 bps; Houston aluminum company.

KB TOYS INC.: $175 million three-year exit facility; Bank of America; up to $150 million senior secured revolver at Libor plus 162.5 bps to Libor plus 237.5 bps; up to $25 million senior secured term loan at Libor plus 437.5 bps; refinance existing debtor-in-possession facilities and to finance working capital needs and general corporate purposes of the reorganized company; Pittsfield, Mass., toy retailer.

LIONBRIDGE TECHNOLOGIES INC.: $125 million credit facility; Wachovia; $100 million six-year term B talked at Libor plus 300 to 400 bps based on ratings; $25 million five-year revolver talked at Libor plus 300 to 400 bps based on ratings, 50 bps commitment fee; help fund acquisition of Bowne Global Solutions and refinance debt; Waltham, Mass., provider of globalization and testing services.

MAYTAG CORP.: $500 million five-year senior secured revolver; J.P. Morgan Chase Bank and Citigroup Global Markets Inc.; secured by accounts receivable and inventory for certain subsidiaries; replace existing $300 million revolver; Newton, Iowa, home and commercial appliance company.

MEDICIS PHARMACEUTICAL CORP.: $650 million seven-year senior secured credit facility; Deutsche Bank; help fund acquisition of Inamed Corp.; Scottsdale, Ariz., specialty pharmaceutical company.

METALS USA INC.: New credit facility; Credit Suisse First Boston and CIBC, with CSFB left lead; help finance LBO by Apollo Management LP; Houston-based metals processor and distributor.

MIRANT CORP.: up to $1.5 billion exit facility; JP Morgan, Deutsche Bank and Goldman Sachs; $1 billion six-year senior secured revolving credit facility at Libor plus 200 bps if rated Ba3 or BB- or higher and Libor plus 225 bps if rated B1 or B+ or lower; up to $500 million seven-year term loan at Libor plus 175 bps if rated Ba3 or BB- or higher and Libor plus 200 bps if rated B1 or B+ or lower; also bridge facility of no less than $850 million; fund the $250 million payment to fund intercompany restructuring transactions and help pay $1.35 billion in claims against the consolidated Mirant Americas Generation LLC debtors partially in cash; Atlanta-based power company.

THE NEIMAN MARCUS GROUP INC.: New credit facility; Credit Suisse First Boston left lead; up to $600 million senior secured asset-based revolver; term loans (term loans, bridge loans and senior notes total $3.3 billion); help fund the approximately $5.1 billion leveraged buyout by Texas Pacific Group and Warburg Pincus LLC; Dallas-based high-end specialty retailer.

PACTIV/AEA INVESTORS LLC: New credit facility; Credit Suisse First Boston and Lehman Brothers joint lead arrangers; help fund purchase of Pactiv's North American and European protective and flexible packaging businesses.

SCHOOL SPECIALTY INC.: New credit facility; Bank of America, JPMorgan and Deutsche Bank; help finance Bain Capital Partners LLC's leveraged buyout of the company; Greenville, Wis., education company.

SCOTTS MIRACLE-GRO CO.: New revolver; replace existing revolver, term A and term B; expected close by end of July; Marysville, Ohio, lawn and garden care company.

SHOPKO STORES INC.: $640 million five-year asset-based revolver from Bank of America at Libor plus 150 to 400 bps, 37.5 bps commitment fee; $65 million five-year senior second-lien term loan from Back Bay Capital at Prime rate plus 625 bps; help fund acquisition by Goldner Hawn Johnson & Morrison Inc.; Green Bay, Wis., provider of general merchandise and retail health services.

TAL INTERNATIONAL GROUP INC.: Up to $175 million senior secured revolver, in connection with IPO; refinance existing debt; Purchase, N.Y., lessor of intermodal freight containers.


© 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.