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 7/31/2006 in the Prospect News Bank Loan Daily.

Bank Loan Calendar

Total amount of deals being marketed: $49.352 billion

AUGUST BANK MEETINGS

B/E AEROSPACE INC.: Bank meeting Aug. 1; $450 million credit facility; JPMorgan, UBS and Credit Suisse, with JPMorgan left lead; $150 million revolver talked at Libor plus 175 bps; $300 million term loan talked at Libor plus 200 bps; refinance existing debt; Wellington, Fla., manufacturer of aircraft cabin interior products and an aftermarket distributor of aerospace fasteners.

BERRY PLASTICS CORP.: Bank meeting Aug. 1; $875 million credit facility; Credit Suisse, Deutsche Bank, Citigroup and JPMorgan joint bookrunners, and Credit Suisse and Citigroup joint lead arrangers; $200 million six-year revolver talked at Libor plus 200 bps, 50 bps commitment fee; $675 million seven-year term B talked at Libor plus 200 bps; help fund bond tender offer and LBO by Apollo Management, LP and Graham Partners; Evansville, Ind., manufacturer and marketer of rigid plastic packaging products.

FOSTER WHEELER LTD.: Bank meeting Aug. 3; $350 million credit facility; BNP Paribas; $200 million revolver; $150 million synthetic letter-of-credit facility; refinance existing debt; Clinton, N.J., provider of engineering and construction services to the energy industries.

GEORGIA GULF CORP.: Bank meeting Aug. 2; $1.05 billion credit facility; Bank of America, Merrill Lynch and Lehman, with Bank of America left lead; $750 million term loan expected in the Libor plus 150 bps to 200 bps area; $300 million revolver expected in the Libor plus 150 bps to 200 bps area; help fund acquisition of Royal Group Technologies Ltd.; Atlanta-based manufacturer of commodity chemicals, vinyl resins and vinyl compounds.

HANESBRANDS INC.: Bank meeting Aug. 1; $2.6 billion senior secured credit facility; Merrill Lynch and Morgan Stanley; $500 million five-year revolver; $350 million six-year term A; $1.3 billion seven-year term B; $450 million 71/2-year second-lien term loan; pay a dividend to Sara Lee Corp. in connection with spinoff; Winston-Salem, N.C., apparel company.

KERZNER INTERNATIONAL LTD.: Bank meeting Aug. 4; $575 million senior secured credit facility; Credit Suisse and Deutsche Bank; $175 million six-year revolver talked at Libor plus 275 bps, 50 bps commitment fee; $250 million seven-year term B talked at Libor plus 275 bps; $150 million seven-year delayed-draw term loan talked at Libor plus 275 bps; help fund LBO by an investor group that's led by management; Paradise Island, The Bahamas, developer and operator of destination resorts, luxury resort hotels and gaming properties.

N.E.W. CUSTOMER SERVICE COS. INC.: Bank meeting Aug. 1; $665 million credit facility; Credit Suisse and CIBC; $20 million six-year revolver talked at Libor plus 225 bps to 250 bps, 50 bps commitment fee; $390 million seven-year term B talked at Libor plus 225 bps to 250 bps; $255 million 71/2-year second-lien term loan talked at Libor plus 575 bps to 625 bps; help fund LBO by Berkshire Partners; Sterling, Va., provider of extended service plans, buyer protection programs and product support.

NORTHWEST AIRLINES INC.: Bank meeting Aug. 4; $1.375 billion DIP facility convertible into a permanent five-year exit financing facility; Citigroup, JPMorgan and Deutsche, with Citi left lead; $1.225 billion term loan talked at Libor plus 250 bps; $150 million revolver talked at Libor plus 250 bps; repay existing bank debt and provide extra liquidity; Eagan, Minn.-based airline.

PRIMEDEX HEALTH SYSTEMS INC.: Bank meeting Aug. 3; $405 million credit facility; General Electric Capital Corp.; $45 million revolver (B2/B) talked at Libor plus 350 bps; $225 million six-year first-lien term B (B2/B) talked at Libor plus 350 bps; $135 million seven-year second-lien term loan (Caa1/CCC+) talked at Libor plus 750 bps; fund the acquisition of Radiologix Inc. and to refinance existing debt; in conjunction with the transaction Primedex will change its name to Radnet Inc.; Los Angeles-based operator of outpatient diagnostic imaging facilities.

VERIFONE HOLDINGS INC.: $540 million senior secured credit facility; JPMorgan and Lehman Brothers; $40 million six-year revolver expected at Libor plus 150 bps; $500 million seven-year term B expected at Libor plus 175 bps; help fund purchase of Lipman Electronic Engineering Ltd. and refinance debt; San Jose, Calif., provider of electronic payment solutions and services.

SEPTEMBER BANK MEETINGS

ACE CASH EXPRESS INC.: $400 million credit facility; Bear Stearns; $200 million five-year asset-based revolver talked at Libor plus 175 bps; $75 million seasonal asset-based revolver that will be available on each Dec. 1 to April 15 talked at Libor plus 175 bps; $125 million seven-year term B talked at Libor plus 300 bps to 400 bps; help fund LBO by JLL Partners Fund V, LP; Irving, Texas, retailer of financial services.

EXCO RESOURCES INC.: General syndication meeting (SMA meeting was July 27); $1.5 billion credit facility; JPMorgan; $750 million five-year term B; $750 million four-year revolver ranging from Libor plus 100 bps to 175 bps, depending on usage; borrowed by a wholly owned unrestricted subsidiary of Exco to fund the acquisition of Winchester Energy Co. Ltd. from Progress Energy Inc.; Dallas-based independent energy company.

VALASSIS COMMUNICATIONS INC.: $1.375 billion secured credit facility; Bear Stearns; $200 million six-year revolver; $1.175 billion seven-year term B; fund acquisition of Advo Inc. and repay existing Advo debt; Livonia, Mich., marketing services company.

WESCO AIRCRAFT HARDWARE CORP.: New credit facility; Lehman Brothers and Bank of America, with Lehman left lead; help fund LBO by The Carlyle Group; Valencia, Calif., distributor of aerospace hardware and provider of inventory management services.

UPCOMING CLOSINGS

ACOSTA SALES AND MARKETING CO.: $740 million credit facility; Wachovia and Goldman Sachs, with Wachovia left lead; $60 million revolver; $680 million term loan at Libor plus 275 bps; help fund LBO by AEA Investors from Berkshire Partners; expected close in July; Jacksonville, Fla., full-service sales and marketing agency.

ALERIS INTERNATIONAL INC.: $1.4 billion credit facility; Deutsche and Citigroup, with Deutsche left lead; $750 million ABL revolver at Libor plus 150 bps; $400 million U.S. dollar-denominated term loan (Ba3/BB-) at Libor plus 250 bps; $250 million euro-denominated term loan (Ba3/BB-) at Libor plus 275 bps; help fund acquisition of Corus Group plc; Beachwood, Ohio, manufacturer of rolled aluminum products, aluminum recycler and producer of specification alloys.

AM GENERAL LLC: $815 million credit facility; Citigroup; $65 million six-year revolver talked at Libor plus 250 bps to 275 bps; $750 million seven-year term B talked at Libor plus 250 bps to 275 bps; refinance existing debt and fund dividend; South Bend, Ind., military and special purpose vehicles company.

AMERICAN CELLULAR CORP.: $250 million credit facility (B1/B+); Bear Stearns; $50 million revolver talked at Libor plus 250 bps; $100 million funded term loan talked at Libor plus 250 bps; $100 million 12-month delayed-draw term loan talked at Libor plus 250 bps, unused fee of 75 bps for four months, 125 bps for next four months and 175 bps for last four months; fund acquisition of Highland Cellular LLC, delayed-draw to finance participation in AWS auction, other acquisitions and general corporate purposes; subsidiary of Dobson Communications Corp., an Oklahoma City-based provider of wireless phone services to rural markets.

AMERICAN SAFETY RAZOR CO.: $435 million credit facility; UBS; $35 million six-year revolver (B2/B) at Libor plus 250 bps; $225 million seven-year first-lien term B (B2/B) at Libor plus 250 bps, step down to Libor plus 225 bps based on leverage; $175 million 71/2-year second-lien term loan (Caa1/CCC+) at Libor plus 625 bps; help fund LBO by Lion Capital LLP from J.W. Childs Associates, LP; expected close late July; Cedar Knolls, N.J., manufacturer of razors and blades.

ARRMAZ CUSTOM CHEMICALS INC.: $140 million credit facility; UBS; $15 million six-year revolver (B2/B+) talked at Libor plus 250 bps; $125 million six-year term B (B2/B+) talked at Libor plus 250 bps; help fund LBO by GSO Capital Partners from Wind Point Partners; also $52.5 million second-lien term loan (Caa1/CCC+) self arranged by GSO at Libor plus 625 bps; Mulberry, Fla., specialty chemicals manufacturer.

ARROWHEAD GENERAL INSURANCE AGENCY INC.: $185 million credit facility; Wachovia; $15 million revolver (B2/B) talked at Libor plus 275 bps; $125 million first-lien term loan (B2/B) talked at Libor plus 275 bps; $45 million second-lien term loan (B3/CCC+) talked at Libor plus 650 bps to 700 bps; help fund LBO by Spectrum Equity; San Diego-based seller of commercial and personal property/casualty insurance products.

ASHTEAD GROUP PLC: $1.6 billion asset-based credit facility; Bank of America; help fund acquisition of NationsRent Cos. Inc. and refinance existing facility; expected close Aug. 31; United Kingdom-based plant equipment rental company.

ASURION CORP.: $980 million credit facility; Bank of America, Goldman Sachs and Merrill Lynch, with Bank of America left lead; $75 million revolver talked at Libor plus 275 bps; $740 million first-lien term B talked at Libor plus 275 bps; $165 million second-lien term loan talked at Libor plus 625 bps; refinance existing debt and fund a $680 million dividend payment; Nashville, Tenn., provider of mobile protection services for the wireless telecommunications industry.

BANKRUPTCY MANAGEMENT SOLUTIONS INC.: $360 million senior secured credit facility; JPMorgan and Credit Suisse; $15 million five-year revolver (B1/B) at Libor plus 275 bps, 50 bps commitment fee; $220 million six-year first-lien term loan (B1/B) at Libor plus 275 bps, step down to Libor plus 250 if leverage below 4x; $125 million seven-year second-lien term loan (B3/CCC+) at Libor plus 625 bps, call protection 102, 101; help fund purchase by Charlesbank Capital Partners LLC and Ocwen Financial Corp. from Lincolnshire Management, Inc.; Irvine, Calif., provider of bankruptcy case management solutions to Chapter 7 trustees.

BARRINGTON BROADCASTING CORP.: $172.5 million credit facility (Ba3/B); Bank of America and Wachovia; $25 million revolver; $147.5 million term B; help fund acquisition of 12 television stations from Raycom Media, Inc.; Hoffman Estates, Ill., operator of television stations in mid-sized markets.

BCBG MAX AZRIA GROUP: $80 million third-lien term loan (B3/CCC+) talked at Libor plus 800 bps; Goldman Sachs; acquisition financing; Vernon, Calif., clothing company.

BIOFUELS SOLUTIONS: $230 million credit facility; BNP Paribas; $210 million construction/term loan talked at Libor plus 300 bps; $20 million revolver talked at Libor plus 300 bps; fund the Woodriver ethanol project in Nebraska and the Fairmont ethanol project in Minnesota.

BNY CONVERGEX GROUP LLC: $675 million credit facility; Merrill Lynch and Goldman Sachs, with Merrill left lead; $75 million revolver (B1/B+) talked at Libor plus 275 bps; $420 million term B (B1/B+) talked at Libor plus 275 bps; $180 million second-lien term loan (B3/B-) talked at Libor plus 650 bps, call protection 102, 101; also $100 million of mezzanine debt; help fund the creation of BNY ConvergEx by GTCR Golder Rauner, LLC, The Bank of New York Co. Inc. and Eze Castle Software; agency brokerage and technology company.

CARLSON WAGONLIT TRAVEL: $800 million in new credit facilities (B+); JPMorgan, Lehman Brothers and Morgan Stanley; $525 million credit facility consisting of a $325 million term loan and a $200 million revolver to help fund recapitalization by Carlson Cos. and One Equity Partners; $275 million term loan to help fund subsequent purchase of Navigant International Inc.; Minneapolis-based business travel management company.

CHARTERMAC: $500 million credit facility (Ba3/BB); UBS and Bank of America; $150 million three-year revolver talked at Libor plus 175 bps; $350 million six-year term B expected in Libor plus 225 bps to 250 bps area; fund acquisition of ARCap Investors, LLC and for general corporate purposes; New York-based full-service real estate finance company.

CHURCH & DWIGHT CO. INC.: $250 million six-year term A (BB) talked at Libor plus 125 bps; JPMorgan; help fund purchase of Orange Glo International; Princeton, N.J., manufacturer and marketer of personal care, household and specialty products.

CITCO: $380 million credit facility; UBS; $20 million six-year revolver talked at Libor plus 225 bps; $60 million six-year term A talked at Libor plus 225 bps; $150 million seven-year term B talked at Libor plus 275 bps; $150 million eight-year term C talked at Libor plus 325 bps; refinance existing debt; also $95 million in nine-year mezzanine debt talked at 5% cash pay plus 6% PIK; provider of administrative, fiduciary and financial services around the world primarily for hedge funds.

CLEARWIRE CORP.: New credit facility; Morgan Stanley, Merrill Lynch and JPMorgan, with Morgan Stanley left lead; general corporate purposes; Kirkland, Wash., provider of wireless high-speed internet and internet phone service.

COLEMAN NATURAL FOODS LLC: $180 million credit facility; Deutsche Bank; $45 million ABL revolver; $100 million first-lien term loan; $35 million second-lien term loan; help fund the combination of BC Natural Foods and KDSB Holding; Golden, Colo., natural meat company.

CROWN HOLDINGS INC.: $200 million term B add-on (Ba2/BB-) talked at Libor plus 175 bps; Deutsche Bank and Lehman, with Deutsche left lead; also repricing existing term B debt at Libor plus 175 bps from Libor plus 150 bps; add-on to fund a stock buyback and for general corporate purposes; Philadelphia-based designer, manufacturer and seller of packaging products for consumer goods.

EL POLLO LOCO HOLDINGS INC.: $200 million credit facility (B1/B+); Merrill Lynch, Bank of America and Goldman Sachs, with Merrill left lead; $175 million seven-year term B at Libor plus 225 bps, step down to Libor plus 200 bps at 31/2x leverage; $25 million six-year revolver at Libor plus 225 bps; in connection with IPO; refinance existing credit facility and fund bond redemptions; Irvine, Calif., quick-service restaurant chain specializing in Mexican-style chicken dishes.

EVERGREEN INTERNATIONAL AVIATION INC.: $400 million credit facility; Credit Suisse; $50 million five-year revolver (B1/B) talked at Libor plus 275 bps; $300 million five-year first-lien term B (B1/B) talked at Libor plus 275 bps; $50 million 6 1/2-year second-lien term loan (Caa1/CCC+) talked at Libor plus 750 bps, call protection 102, 101; fund a bond tender offer; McMinnville, Ore., portfolio of five diverse aviation companies.

FLAKEBOARD CO. LTD.: $270 million credit facility; RBC Capital Markets; $40 million revolver; $230 million term B talked at Libor plus 325 bps to 350 bps; help fund acquisition of Weyerhaeuser Co.'s composite panel business; Markham, Ont., manufacturer of composite panel products.

HVHC INC.: $180 million credit facility (Ba3/BB); Citigroup and PNC, with Citi left lead; $25 million five-year revolver talked at Libor plus 225 bps; $155 million seven-year term B talked at Libor plus 225 bps; help fund acquisition of Eye Care Centers of America Inc. and refinance existing bank debt; provider of vision services and seller of related merchandise.

INFOR GLOBAL SOLUTIONS: $2.4 billion euro- and dollar-denominated credit facility (B2/B); JPMorgan, Credit Suisse and Merrill Lynch, with JPMorgan left lead; $150 million six-year revolver, 50 bps commitment fee; $2.25 billion seven-year term B at Libor plus 375 bps, call protection 101; help fund acquisitions of SSA Global and Systems Union Group, combination of Infor and Extensity and refinance existing debt; Alpharetta, Ga.-based software provider.

IRIDIUM SATELLITE LLC: $210 million credit facility; Lehman and Morgan Stanley, with Lehman left lead; $10 million revolver (B3/B-); $98 million four-year term A at Libor plus 425 bps, OID 99, soft call protection 102, 101; $62 million five-year first-lien term B (B3/B-) at Libor plus 425 bps, OID 98, soft call protection 102, 101; $40 million second-lien term loan (Caa1/CCC) at Libor plus 825 bps, non-callable for one year, then at 102, 101, OID 97; refinance existing debt and fund a dividend payment to shareholders; Bethesda, Md., provider of satellite voice and data solutions.

KAPSTONE KRAFT PAPER CORP.: $95 million senior secured credit facility; LaSalle Bank; $35 million revolver at Libor plus 150 bps; $60 million five-year term loan at Libor plus 175 bps; help fund acquisition of International Paper Co.'s kraft paper business and to provide working capital; newly formed wholly owned subsidiary of Northfield, Ill., Stone Arcade Acquisition Corp.; kraft paper producer.

KENDLE INTERNATIONAL INC.: $225 million senior secured credit facility (B1/B+); UBS; $25 million five-year revolver talked at Libor plus 250 bps; $200 million six-year term loan talked at Libor plus 250 bps; help fund purchase of Charles River Laboratories International Inc.'s phase 2-4 Clinical Services business; Cincinnati-based clinical research organization.

KRANSON INDUSTRIES INC.: $290 million credit facility; General Electric Capital Corp.; $75 million revolver talked at Libor plus 275 bps; $215 million term B talked at Libor plus 275 bps; help fund LBO by Code Hennessy & Simmons AEA Investors LLC; St. Louis-based provider of rigid packaging containers and related components.

LA PETITE ACADEMY INC.: $215 million senior credit facility; Credit Suisse and JPMorgan; $20 million five-year revolver (B1/B) talked at Libor plus 325 bps, 50 bps commitment fee; $110 million six-year first-lien term B (B1/B) talked at Libor plus 325 bps; $85 million 61/2-year second-lien term loan (B3/CCC) talked at Libor plus 725 bps; refinance existing senior credit facility and 10% senior notes due 2008; Chicago-based for-profit preschool provider.

LAIDLAW INTERNATIONAL INC.: $500 million term B (Ba2) at Libor plus 175 bps; Citigroup and UBS; repurchase common stock; Naperville, Ill., provider of transportation services.

LOWER WILGAT: $400 million credit facility; Lehman; $75 million revolver talked at Libor plus 350 bps; $325 million term B talked at Libor plus 350 bps; back the development of three coal mines.

MADE2MANAGE SYSTEMS INC.: $180 million credit facility; BMO Capital; $15 million revolver (B2/B-) talked at Libor plus 400 bps; $100 million term B (B2/B-) talked at Libor plus 400 bps; $65 million second-lien term loan (Caa1/CCC) talked at Libor plus 725 bps, call protection 102, 101; help fund purchase of Onyx Software Corp.; Indianapolis-based provider of enterprise information systems.

METALDYNE CORP.: $200 million five-year credit facility; JPMorgan and Deutsche Bank, with JPMorgan left lead; $100 million revolver; $100 million synthetic revolver; refinance $200 million revolver under the existing $575 million senior secured credit facility; Plymouth, Mich., designer and supplier of metal-based components, assemblies and modules for transportation-related powertrain and chassis applications.

MOBILE STORAGE GROUP INC.: $300 million ABL revolver at Libor plus 200 bps; Lehman; in connection with LBO by Welsh, Carson, Anderson & Stowe; Burbank, Calif., storage units company.

NEW CENTURY TRANSPORTATION INC.: $115 million credit facility; Wachovia; $20 million revolver talked at Libor plus 325 bps; $95 million term B talked at Libor plus 325 bps; refinance acquisition debt; Westhampton, N.J., provider of hybrid truckload and less-than-truckload services.

OHMSTEDE LTD.: $195 million credit facility; Morgan Stanley and Credit Suisse, with Morgan Stanley left lead; $30 million five-year revolver (B2/B-) talked at Libor plus 300 bps; $100 million seven-year first-lien term B (B2/B-) talked at Libor plus 300 bps; $65 million eight-year second-lien term loan (Caa1/CCC) talked at Libor plus 675 bps, call protection 102, 101; help fund LBO by First Reserve Corp. from Tanglewood Investments Inc.; Beaumont, Texas, company that manufactures and maintains heat exchangers.

ONEIDA LTD.: $170 million exit financing; Credit Suisse; $80 million five-year revolver at Libor plus 150 bps, 25 bps commitment fee; $90 million six-year term loan at Libor plus 700 bps, call protection 103, 101; Oneida, N.Y., maker of flatware, dinnerware, crystal and metal serving pieces for consumers and the food services industry.

OPPENHEIMER HOLDINGS INC.: $125 million seven-year senior secured term loan (B1) at Libor plus 275 bps, step down to Libor plus 250 bps when leverage is 1 1/2x; Morgan Stanley; in connection with buy back of debentures from CIBC; Toronto-based provider of financial services.

ORIENTAL TRADING CO.: $640 million credit facility; JPMorgan and Wachovia; $50 million revolver (B3/B) at Libor plus 275 bps; $410 million first-lien term B (B3/B) at Libor plus 275 bps; $180 million second-lien term loan (Caa1/CCC+) at Libor plus 600 bps; help fund LBO by The Carlyle Group from Brentwood Associates; Omaha, Neb., direct marketer of party and school supplies.

OWENS CORNING: $2.4 billion five-year exit financing credit facility (Baa3/BBB-); Citigroup and Bank of America; $1.4 billion term loan talked at Libor plus 75 bps; $1 billion revolver talked at Libor plus 75 bps; Toledo, Ohio, building materials company.

PRECISION PARTNERS HOLDING CO.: $300 million U.S. credit facility; Lehman, CIT and Jefferies, with Lehman left lead; $25 million six-year revolver at Libor plus 300 bps; $140 million seven-year first-lien term loan at Libor plus 300 bps, OID 99; $55 million seven-year final maturity, one-year delayed-draw first-lien term loan at Libor plus 300 bps, 100 bps ticking fee, OID 981/2; $80 million 71/2-year second-lien term loan at Libor plus 725 bps, call protection 103, 102, 101, OID 981/2; also C$30 million six-year first-lien term loan at Libor plus 300 bps, OID 99; refinance existing debt; Hazlet, N.J., manufacturing and engineering services company.

QUANTUM CORP.: $500 million credit facility (B3/B); KeyBanc Capital Markets; $150 million three-year revolver; $350 million six-year term B at Libor plus 400 bps; help fund acquisition of Advanced Digital Information Corp.; San Jose, Calif., provider of storage, backup, recovery and archive solutions.

REGENCY GAS SERVICES LP: $850 million credit facility (B+); UBS, Wachovia and Citigroup, with UBS left lead on the term B and Wachovia left lead on the revolver; $250 million five-year revolver talked at Libor plus 200 bps; $600 million seven-year term B talked at Libor plus 225 bps; help fund Regency Energy Partners LP's acquisition of TexStar Field Services, LP from affiliates of HM Capital Partners LLC and refinance existing debt; Dallas-based midstream master limited partnership.

THE ROOFING SUPPLY GROUP: $320 million credit facility; JPMorgan and Goldman Sachs, with JPMorgan left lead; $50 million revolver talked at Libor plus 250 bps; $185 million first-lien term B talked at Libor plus 250 bps to 275 bps; $85 million second-lien term loan talked at Libor plus 600 bps to 650 bps; help fund LBO by Sterling.

SAFETY-KLEEN SYSTEMS INC.: $395 million credit facility (B1/BB-); JPMorgan and Credit Suisse, with JPMorgan left lead; $100 million revolver; $230 million term B; $65 million pre-funded letter-of-credit facility; refinance existing debt; Plano, Texas, provider of industrial waste management services.

SAVERS INC.: $212 million credit facility (B1/B); CIBC; $25 million revolver; $187 million term loan; help fund LBO by Freeman Spogli from Berkshire Partners; Bellevue, Wash., for-profit thrift store chain.

SHACKLETON RE LTD.: $100 million credit facility; Goldman Sachs; $50 million two-year first event U.S. hurricane term B (BB) at Libor plus 800 bps, non-call for life; $50 million two-year second event U.S. hurricane and California earthquake term C (BB+) at Libor plus 750 bps, non-call for life, OID 99; loans being done for Endurance Specialty Insurance Ltd.; special-purpose Cayman Islands exempted company licensed as a restricted class B insurer in the Cayman Islands.

SORENSON COMMUNICATIONS: $980 million credit facility; Goldman Sachs and RBS Securities, with Goldman administrative agent on first lien, RBS administrative agent on second lien; $20 million revolver talked at Libor plus 300 bps; $660 million first-lien term loan talked at Libor plus 300 bps; $300 million second-lien term loan talked at Libor plus 700 bps, call protection 102, 101; also $100 million mezzanine PIK loan talked at Libor plus 900 bps, call protection 102, 101; dividend recapitalization; Salt Lake City-based provider of video relay services and equipment for the deaf and hard-of-hearing community.

SPI PETROLEUM LLC: $340 million credit facility; JPMorgan and PNC, with JPMorgan left lead on the term loan and PNC left lead on the revolver; $185 million ABL revolver talked at Libor plus 112.5 bps; $155 million term loan (B2/B); finance acquisitions; Oklahoma City-based marketer of petroleum products.

SVP WORLDWIDE: $315 million senior secured credit facility; UBS; $75 million revolver (B1/B+); $170 million first-lien term loan (B1/B+) talked at Libor plus 300 bps; $70 million second-lien term loan talked at Libor plus 600 bps, call protection 102, 101; refinance existing debt and fund seasonal working capital build; manufacturer, marketer, and distributor of consumer sewing machines.

TELEPACIFIC COMMUNICATIONS: $305 million senior secured credit facility; Credit Suisse and Bank of America; $30 million five-year revolver (B2/B-) talked at Libor plus 450 bps; $175 million five-year first-lien term B (B2/B-) talked at Libor plus 450 bps; $100 million six-year second-lien term loan talked at Libor plus 825 bps, call protection 103, 102, 101; fund acquisition of Mpower Holding Corp.; Los-Angeles-based provider of business telecommunications network solutions.

TFS ACQUISITION CORP.: $500 million credit facility; Credit Suisse; $175 million five-year ABL revolver at Libor plus 175 bps; $325 million six-year term loan (B2/B+) at Libor plus 350 bps, 101 soft call protection; help fund Platinum Equity's acquisition of Textron Inc.'s Fastening Systems business; Troy, Mich., provider of full-service fastening systems.

TRANSFIRST HOLDINGS INC.: $430 million credit facility; Merrill Lynch Capital; $35 million revolver (B2/B+) talked at Libor plus 250 bps to 275 bps; $275 million first-lien term B (B2/B+) talked at Libor plus 250 bps to 275 bps; $120 million second-lien term loan (Caa1/B-) talked at Libor plus 625 bps to 650 bps; dividend recapitalization; Dallas-based provider of credit card processing services and payment enabling technologies.

TRAVELPORT INC.: $2.6 billion senior secured credit facility (B1); UBS, Credit Suisse and Lehman Brothers; $275 million six-year revolver talked at Libor plus 250 bps to 275 bps; $125 million seven-year synthetic letter-of-credit facility talked at Libor plus 250 bps to 275 bps; $2.2 billion seven-year term loan talked at Libor plus 250 bps to 275 bps; help fund buyout by The Blackstone Group from Cendant Corp.; expected close in August; Parsippany, N.J., travel distribution services company.

TRIMAS CORP.: $410 million senior secured credit facility (B1/B+); JPMorgan; $260 million seven-year term B talked at Libor plus 250 bps to 275 bps; $100 million five-year revolver talked at Libor plus 250 bps to 275 bps; $50 million five-year synthetic letter-of-credit facility talked at Libor plus 250 bps to 275 bps; refinance existing credit facility and for general corporate purposes; Bloomfield Hills, Mich., manufacturer of engineered products.

TRIUMPH HEALTHCARE LLC: $345 million credit facility; BNP Paribas and Bear Stearns; $35 million revolver (B2/B+) at Libor plus 300 bps; $225 million first-lien term loan (B2/B+) at Libor plus 300 bps; $85 million second-lien term loan (Caa1/CCC+) at Libor plus 800 bps, call protection 102, 101; dividend recapitalization; Houston-based privately owned hospital company.

UNITED SURGICAL PARTNERS INTERNATIONAL INC.: $200 million seven-year term B (Ba2/BB-) at Libor plus 175 bps; Bear Stearns and SunTrust joint lead arrangers, with Bear bookrunner; fund bond tender offer and repay revolver debt; Addison, Texas, owner and operator of surgical facilities.

U.S. SHIPPING PARTNERS LP: $335 million amended and restated credit facility (B1/BB-); CIBC and Lehman, with CIBC left lead; $235 million term loan talked at Libor plus 300 bps to 325 bps area; $50 million delayed-draw term loan talked at Libor plus 300 bps to 325 bps area; $50 million revolver talked at Libor plus 300 bps to 325 bps area; help fund construction of four new articulated tug barge units, equity contributions to a joint venture, repay debt and for general corporate purposes; Edison, N.J., provider of long-haul marine transportation services.

VERSO PAPERS HOLDINGS LLC: $485 million credit facility (Ba2/BB); Credit Suisse; $200 million six-year revolver at Libor plus 200 bps, 50 bps commitment fee; $285 million seven-year term B at Libor plus 175 bps; help fund Apollo Management's LBO of International Paper's Memphis, Tenn.-based coated and supercalendered papers business.

VISTEON CORP.: $700 million revolver divided into two five-year facilities for the United States and Europe talked at Libor plus 200 bps, 37.5 bps commitment fee; JPMorgan and Citigroup; refinance bank debt and for general corporate purposes; Van Buren Township, Mich., automotive supplier.

VNU NV: $5.3125 billion-plus credit facility (B1/B+); Citigroup, Deutsche Bank and JPMorgan, with Citi left lead; $687.5 million six-year multi-currency revolver at Libor plus 250 bps; $4.625 billion seven-year term B at Libor plus 275 bps; €450 million seven-year term B at Euribor plus 250 bps; help fund acquisition by Valcon Acquisition BV; Netherlands-based information and media company.

VTR GLOBALCOM SA: $700 million equivalent credit facility (B1/B); $200 million equivalent in Chilean peso seven-year term A talked at Libor plus 250 bps; $25 million equivalent 61/2-year revolver talked at Libor plus 250 bps; $475 million U.S. eight-year term B talked at Libor plus 300 bps; Citigroup and Santander leading term A and revolver; Citigroup, TD Securities, BNP Paribas and Santander leading term B, with TD administrative agent; refinance existing debt, general corporate purposes and capital expenditures; provider of multi-channel television and high-speed internet access in Chile.

WATSON PHARMACEUTICALS INC.: $1.15 billion credit facility; CIBC and Wachovia, with CIBC left lead; $500 million five-year revolver at Libor plus 75 bps; $650 million five-year term loan at Libor plus 75 bps; help fund purchase of Andrx Corp.; Corona, Calif., generic pharmaceutical company.

WYNN LAS VEGAS LLC: $1.125 billion amended and restated credit facility; Deutsche Bank and Bank of America, with Deutsche left lead; $725 million revolver talked at Libor plus 162.5 bps; $400 million term B talked at Libor plus 187.5 bps; refinance existing credit facility; Las Vegas-based casino company.

ON THE HORIZON

ADVANCED MICRO DEVICES INC.: Fourth-quarter business; $2.5 billion seven-year term B with no financial covenants; Morgan Stanley; help fund acquisition of ATI Technologies Inc. Sunnyvale, Calif., provider of microprocessor solutions for computing, communications and consumer electronics markets.

ARAMARK CORP.: New senior credit facility; Goldman Sachs and JPMorgan; help fund public-to-private transaction led by Joseph Neubauer, chairman and chief executive officer; Philadelphia-based provider of food and facility management services.

ASSISTED LIVING CONCEPTS INC.: New credit facility; fund working capital and general corporate needs; in connection with spin-off from Extendicare Inc.; operator of assisted living business.

BONDDESK GROUP: New debt financing; American Capital and Merrill Lynch Capital; help fund acquisition by Advent International; Mill Valley, Calif., odd-lot fixed-income electronic trading platform and provider of software solutions to the securities industry.

BUFFETS INC.: New credit facility; Credit Suisse and UBS joint bookrunners and lead arrangers, with Credit Suisse left lead; help fund acquisition of Ryan's Restaurant Group, Inc.; Eagan, Minn., operator of buffet-style restaurants.

COLUMBIA ENTERTAINMENT: $2.175 billion debt commitment; Credit Suisse; $1.555 billion five-year senior secured term loan; $180 million five-year senior secured revolver; $440 million 18-month senior secured loan for development of Aztar's 34-acre parcel situated on the Las Vegas "Strip"; fund acquisition of Aztar Corp.; Fort Mitchell, Ky., owner, developer and operator of hotel properties and casinos.

DUQUESNE LIGHT HOLDING: $1.445 billion credit facility; Barclays and Dresdner; $75 million opco revolver; $200 million holdco revolver; $1.17 billion holdco term loan; help fund acquisition by Macquarie Infrastructure Partners and Diversified Utility and Energy Trusts, repay existing debt and preference shares, capital expenditure and general corporate purposes; Pittsburgh-based electric utility company.

EAGLE ROCK ENERGY PARTNERS LP: $650 million amended and restated credit facility; $400 million funded; $250 million revolver; replace existing facility in connection with IPO of common units; Houston-based natural gas and natural gas liquids company.

EFES BREWERIES INTERNATIONAL NV: $500 million term loan; Citibank and HSBC; general corporate purposes including refinancing existing debt; Netherlands-based operator of breweries.

ENCORE MEDICAL CORP.: $375 million senior secured credit facility; Bank of America and Credit Suisse; $325 million seven-year term loan talked at Libor plus 200 bps; $50 million six-year revolver talked at Libor plus 200 bps, 50 bps commitment fee; help fund LBO by Blackstone; Austin, Texas, orthopedic device company.

ENERGY PARTNERS LTD.: $1.3 billion credit facility; Bank of America; $600 million four-year revolver talked at Libor plus 100 bps to 200 bps with 25 bps to 50 bps commitment fee based on utilization; $700 million five-year second-lien term loan talked anywhere from Libor plus 375 bps to 475 bps based on ratings, call protection 102, 101; help fund acquisition of Stone Energy Corp.; New Orleans-based independent oil and natural gas exploration and production company.

FLEXTRONICS SOFTWARE: New credit facility; Citigroup Global Markets (Asia) and Merrill Lynch joint bookrunners and joint lead arrangers; help fund purchase of Flextronics International Ltd.'s software development and solutions business (to be renamed) by Kohlberg Kravis Roberts & Co.; Palo Alto, Calif., provider of high impact software solutions to the global communications industry.

HAMILTON BEACH INC.: New credit facility; Wachovia and UBS; asset-based revolver; second-lien term loan; in connection with its spin-off from Nacco Industries Inc. and subsequent merger with Applica Inc.; finance ongoing operations and growth, to repay Applica's and Hamilton Beach/Proctor-Silex's existing debt and to pay a $110 million cash dividend to Nacco; Richmond, Va., small electric household appliance company.

HCA INC.: New credit facility; Bank of America, Citigroup, JPMorgan and Merrill Lynch, with Bank of America left lead; help fund LBO by Bain Capital, Kohlberg Kravis Roberts & Co., Merrill Lynch Global Private Equity and company founder Thomas F. Frist Jr.; Nashville, Tenn., health care services company.

HEALTHWAYS INC.: New credit facility; revolver (Ba2/BB); help fund acquisition of LifeMasters Supported SelfCare; Nashville, Tenn., provider of health and care support programs and services.

INTEGRA TELECOM INC.: $450 million first- and second-lien credit facility; CIBC World Markets Corp. sole lead arranger and co-bookrunner on the first lien with Goldman Sachs Specialty Lending Group LP co-bookrunner and administrative agent; Goldman Sachs Specialty Lending Group LP co-underwriting the second lien; fund purchase of Electric Lightwave Inc. from Citizens Communications and refinance existing bank debt; Portland, Ore., integrated communications carrier.

KINDER MORGAN INC.: New credit facility; likely Goldman Sachs; help fund proposed public-to-private buyout by management and equity investors; Houston-based energy infrastructure provider.

LEGENDS GAMING LLC: New credit facility; CIT; first-lien (B2/B+); second-lien (Caa1/B-); help fund purchase of Bossier City, La., and Vicksburg, Miss., properties from Isle of Capri Casinos Inc.; owner and operator of casinos.

LIONORE MINING INTERNATIONAL LTD.: $400 million seven-year non-recourse debt facility; BNP Paribas; help fund its acquisition of the Falconbridge Ltd.'s Nikkelverk refinery; Toronto-based nickel concentrate producer.

LOGAN'S ROADHOUSE INC.: New senior revolving credit facility; repay existing bank debt in conjunction with IPO of common stock; Nashville, Tenn., full-service restaurant chain.

MICHAELS STORES INC.: New debt financing; Deutsche Bank, Bank of America and Credit Suisse; help fund LBO by Bain Capital and The Blackstone Group; Irving, Texas, specialty retailer of arts, crafts, framing, floral, wall decor and seasonal merchandise.

MIRANT PHILIPPINES: $700 million term loan; Credit Suisse; help fund a modified Dutch auction tender offer by Atlanta-based energy company Mirant Corp. for common stock and to pay off existing debt in the Philippines.

NCO GROUP INC.: $550 million senior secured credit facility; Morgan Stanley and JPMorgan; $450 million in term loans; $100 million revolver; help fund acquisition of NCO by chairman and chief executive officer, Michael J. Barrist, and One Equity Partners II LP; Horsham, Pa., provider of business process outsourcing services.

NIAGARA CORP.: New debt financing; GE Antares; help back LBO by Kohlberg & Co. LLC; N.Y.-based provider of cold finished and hot rolled steel products.

PACIFIC ENERGY RESOURCES LTD.: $100 million ($70 million funded, $30 million delayed-draw) four-year multi-advance term loan at 12% or Libor plus 700 bps; fund acquisition and development of Beta Oil Field; Long Beach, Calif., oil and gas exploration and development company.

PEABODY ENERGY CORP.: New term loan debt; Morgan Stanley; help fund purchase of Excel Coal Ltd.; St. Louis-based private-sector coal company.

PETCO ANIMAL SUPPLIES INC.: $850 million debt commitment; Credit Suisse, Bank of America and Wells Fargo; help fund LBO by Leonard Green & Partners, LP and Texas Pacific Group; also $500 million debt financing via GS Mezzanine Partners; San Diego-based specialty retailer of premium pet food, supplies and services.

RESOURCE MANAGEMENT SERVICE LLC: New bank financing; GE Capital Markets and RBS Securities joint lead arrangers; help fund purchase of timberlands from International Paper Co.; Birmingham, Ala., independent timberland investment-management firm.

SALLY BEAUTY CO.: Approximately $1.85 billion in new debt; Merrill Lynch; help fund spin-off from Alberto-Culver Co.; beauty supplies distribution business.

SECUNDA INTERNATIONAL LTD.: $140 million term loan indicated around Libor plus 250 bps to 275 bps; Fortis Capital; fund tender offer for senior secured notes due 2012; Dartmouth, Nova Scotia, provider of supply and support services to the offshore oil and gas industry internationally.

SECURE COMPUTING CORP.: $135 million senior secured credit facility; Citigroup and UBS joint lead arrangers and joint bookrunners, Citi administrative agent, UBS syndication agent; $20 million six-year revolver; $90 million seven-year first-lien term loan; $25 million 71/2-year second-lien term loan; help fund purchase of CipherTrust Inc.; San Jose, Calif., developer of network security solutions.

TATA COFFEE LTD.: New non-recourse loan; Rabo Bank; help fund acquisition of Eight O'Clock Coffee Co.; India-based coffee company.

UNIVERSAL COMPRESSION PARTNERS LP: $225 million credit facility; $100 million revolver; $125 million term loan; in connection with IPO of common units; general partnership purposes and to repay debt; Houston-based limited partnership that provides natural gas contract compression services.

UNIVISION COMMUNICATIONS INC.: $8.25 billion credit facility; Deutsche Bank, Credit Suisse, Bank of America, Wachovia, RBS Securities and Lehman, with Deutsche left lead; $750 million revolver; $7.05 billion term loan; $450 million delayed-draw term loan; help fund LBO by Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Saban Capital Group, delayed-draw available for repayment of senior notes; expected close spring 2007; Los Angeles-based Spanish-language media company.

WEST CORP.: $2.3 billion credit facility; Lehman, Deutsche Bank and Bank of America, with Lehman left lead; $2.05 billion seven-year term loan talked at Libor plus 225 bps; $250 million six-year revolver talked at Libor plus 225 basis points, 50 bps commitment fee; help fund LBO by Thomas H. Lee Partners and Quadrangle Group LLC; Omaha, Neb., provider of outsourced communication solutions.

WINN-DIXIE STORES INC.: $725 million exit financing five-year revolving credit facility at Libor plus 125 bps to 225 bps based on availability; Wachovia Bank; replace debtor-in-possession credit facility and increase cash availability; Jacksonville, Fla., food retailer.


© 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.