Bank Loan Calendar: $15.567 billion deals being marketed

January Bank Meetings

APPLIED SYSTEMS INC.: Bank meeting Jan. 7; $1.1 billion credit facility; Credit Suisse, Deutsche Bank, Jefferies and UBS; $50 million revolver; $675 million seven-year first-lien covenant light term loan talked at Libor plus 350 bps to 375 bps, 1% Libor floor, OID 99, 101 soft call for six months; $375 million eight-year second-lien covenant-light term loan talked at Libor plus 725 bps to 750 bps, 1% Libor floor, OID 99, call protection 102, 101; help fund buyout by Hellman & Friedman LLC from Bain Capital; University Park, Ill., provider of software for the insurance industry.

CBS OUTDOOR AMERICAS INC.: Bank meeting Jan. 7; new credit facility; Citigroup, Deutsche Bank and Wells Fargo; revolver; term loan; help fund a payment to CBS Corp. for the assets in connection with stock IPO; New York-based lessor of advertising space on out-of-home advertising structures and sites.

COMMUNITY HEALTH SYSTEMS INC.: Bank meeting Jan. 8; $2.26 billion seven-year term D; Credit Suisse, Bank of America, Citigroup, Goldman Sachs, JPMorgan, RBC, SunTrust, UBS and Wells Fargo; help fund purchase of Health Management Associates Inc.; also extending up to 50% of term C to be fungible with term D; Nashville, Tenn., hospital company.

CONNOLLY HOLDINGS INC.: Bank meeting Jan. 8; new credit facility; RBC; refinance existing bank debt; Atlanta-based provider of technology-enabled recovery audit services.

DIXIE ELECTRIC LLC (FR DIXIE ACQUISITION CORP.): Bank meeting Jan. 8; $320 million credit facility; UBS, Credit Suisse, Macquarie and Societe Generale; $40 million five-year revolver; $280 million seven-year term B, 1% Libor floor, 101 soft call; help fund buyout by First Reserve from One Rock Capital Partners LLC; Odessa, Texas, provider of electrical infrastructure materials and services to the upstream oil and gas sector.

EMERALD EXPOSITIONS HOLDING INC.: Conference call Jan. 7; $200 million covenant-light incremental term B due June 2020 talked at Libor plus 425 bps, 1.25% Libor floor, 101 soft call until June 16, 2014; Bank of America and Morgan Stanley; help fund acquisition of George Little Management LLC; San Juan Capistrano, Calif., operator of large business-to-business tradeshows.

ENDEAVOUR INTERNATIONAL HOLDING: Conference call Jan. 7; $255 million of senior secured term loans due Nov. 30, 2017; Credit Suisse; $125 million term loan (collateral for letters-of-credit), non-call one; $130 million term loan (procurement facility), non-call one, except for $98 million which can be called at par for six months; refinance existing debt and general corporate purposes; Houston-based oil and gas exploration and production company.

EPICOR SOFTWARE CORP.: Conference call Jan. 7; roughly $840 million term loan due May 16, 2018, 101 soft call for six months; Bank of America; repricing; Dublin, Calif., provider of enterprise business software services.

HOUGHTON MIFFLIN HARCOURT PUBLISHERS INC. (HMH HOLDINGS INC.): Conference call Jan. 7; Citigroup; Boston-based publishing company.

JAZZ PHARMACEUTICALS PLC: Bank meeting Jan. 7; $575 million incremental bank debt; Barclays; $175 million incremental revolver; $400 million incremental term loan; help fund acquisition of Gentium SpA; Dublin, Ireland, specialty biopharmaceutical company.

JLL/DELTA PATHEON HOLDINGS LP: Bank meeting Jan. 9; $1.35 billion credit facility; UBS, JPMorgan, Jefferies, KeyBanc and Morgan Stanley; $200 million five-year revolver; $1.15 billion seven-year term B, 1% Libor floor, 101 soft call; help fund purchase of Patheon by JLL Partners and Royal DSM and merger with DSM Pharmaceutical Products to create a new company; contract development and manufacturing organization for the pharmaceutical industry.

MITEL NETWORKS CORP.: Bank meeting Jan. 7; $405 million credit facility (Ba3); Jefferies and TD Securities; $355 million six-year term loan expected at Libor plus 500 bps, 1% Libor floor, 101 soft call for six months; $50 million five-year revolver expected at Libor plus 500 bps, 50 bps unused fee; help fund acquisition of Aastra Technologies Ltd. and refinance an existing credit facility; Kanata, Ont., provider of cloud and premises-based unified communications software.

NATIONAL MENTOR HOLDINGS INC.: Bank meeting Jan. 8; $660 million senior secured credit facility; Barclays, Goldman Sachs, Jefferies and UBS; $100 million revolver; $560 million term B; refinance existing senior secured credit facility; Boston-based provider of home and community-based health and human services.

NEP/NCP HOLDCO INC.: Conference call Jan. 7; $155 million incremental senior secured first-lien term loan (B2/B) due Jan. 22, 2020 talked at Libor plus 350 bps, 1.25% Libor floor; Barclays and Morgan Stanley; help fund acquisition of GTV Holdings Pty Ltd (Global Television) from Catalyst Investment Managers; Pittsburgh-based provider of outsourced teleproduction services critical to the delivery of live sports and entertainment events.

NEWPAGE HOLDINGS INC.: Bank meeting expected Jan. 13 week; $750 million term loan; Credit Suisse, Barclays, UBS and BMO; refinance existing term loan and fund a dividend in connection with purchase by Verso Paper Corp.; Miamisburg, Ohio, producer of printing and specialty papers.

PHARMEDIUM: Bank meeting Jan. 8; $595 million credit facility; JPMorgan (left on first-lien), Credit Suisse (left on second-lien ) and Morgan Stanley; $75 million revolver; $320 million seven-year first-lien covenant-light term loan, 101 soft call for six months; $200 million eight-year second-lien covenant-light term loan, call protection 102, 101; help fund buyout by Clayton, Dubilier & Rice from Oak Investment Partners and Baird Capital; Lake Forest, Ill., provider of hospital pharmacy-outsourced sterile compounding services.

PHILLIPS PET FOOD & SUPPLIES: Bank meeting Jan. 14; $450 million credit facility; Jefferies, Goldman Sachs and BMO; $60 million ABL revolver; $260 million first-lien term loan; $130 million second-lien term loan; help fund buyout by Thomas H. Lee Partners from AEA Investors; Easton, Pa., distributor of pet food and supplies.

PSAV PRESENTATION: Bank meeting Jan. 8; $505 million term B; Goldman Sachs, Barclays and Morgan Stanley; help fund buyout by Goldman Sachs from Kelso & Co.; Long Beach, Calif., provider of audio visual equipment and event technology support to the hotel, conference and event industry.

PSS COS. INC.: Bank meeting Jan. 9; $245 million credit facility; KeyBanc, Goldman Sachs, ING Capital and SMBC; $40 million revolver; $205 million term B; refinance existing debt and help fund acquisition of Industrial Air Tool; Houston-based distributor of mission-critical MRO consumables to the energy sector.

SEASTAR SOLUTIONS: Bank meeting Jan. 8; $225 million credit facility; RBC and GE Capital; $25 million revolver; $200 million term B; help fund buyout by American Securities; manufacturer and distributor of marine steering and control systems and engine and drive parts.

SOPHOS LTD. (SHIELD FINANCE CO. SARL): Bank meeting Jan. 9; $400 million seven-year covenant-light term loan, 101 soft call for six months; Deutsche Bank; refinance existing term loan; IT security and data protection firm that has headquarters in Burlington, Mass., and Oxford, England.

SURGERY CENTER HOLDINGS INC.: Conference call Jan. 7; $70 million add-on second-lien term loan (Caa2) talked at Libor plus 850 bps, 1.25% Libor floor, OID 98½ to 99; JPMorgan and Morgan Stanley; fund a dividend; Chicago-based operator of ambulatory surgery centers.

VISKASE COS. INC.: Bank meeting Jan. 9; $275 million seven-year term B, 1% Libor floor, 101 soft call; UBS; refinance existing debt; Darien, Ill., producer and seller of cellulosic, fibrous and plastic casings for the processed meat and poultry industry.

Upcoming Closings

CHEMTRADE LOGISTICS INCOME FUND: $1 billion five-year senior secured credit facility; BMO and Scotia Bank; $400 million revolver at Libor plus 250 bps; $600 million term loan at Libor plus 250 bps; help fund the acquisition of General Chemical Holding Co. and refinance existing debt; Toronto-based operator of a diversified business providing industrial chemicals and services.

CHESAPEAKE SERVICES LTD./MULTI PACKAGING SOLUTIONS INC.: $452 million U.S. bank debt (B1/B+); Barclays and Credit Suisse; $122 million incremental term B due Sept. 30, 2020 at Libor plus 325 bps, 1% Libor floor, OID 993/4, 101 soft call through March 30, 2014; $50 million revolver due Aug. 15, 2018 at Libor plus 325 bps; $280 million rollover term B due Sept. 30, 2020 at Libor plus 325 bps, 1% Libor floor, OID 993/4, 101 soft call through March 30, 2014; also £50mm multicurrency revolver due Sept. 30, 2019 at Libor plus 400 bps, £145 million term B due Sept. 30, 2020 talked at Libor plus 500 bps, 1% Libor floor, 101 soft call through Sept. 30, 2014, and €172.6 million term B due Sept. 30, 2020 at Euribor plus 450 bps, 1% floor, 101 soft call through Sept. 30, 2014; help fund merger of the two companies; U.K.-based manufacturer of consumer packaging.

DARLING INTERNATIONAL INC.: $1.3 billion term B debt (Ba2); JPMorgan, BMO and Goldman Sachs; $600 million seven-year covenant-light term B at Libor plus 250 bps, 0.75% Libor floor, OID 993/4, 101 soft call for six months; $700 million seven-year covenant-light euro equivalent term B at Euribor plus 275 bps, 0.75% floor, OID 991/2, 101 soft call for six months; help fund acquisition of Vion Ingredients from Vion Holding N.V.; Irving, Texas, provider of rendering, recycling and recovery services to the food industry.

EXTREME REACH INC.: $495 million credit facility; JPMorgan and SunTrust; $30 million five-year revolver (Ba2/BB-); $350 million six-year first-lien term B (B1/B+) talked at Libor plus 500 bps to 525 bps, 1% Libor floor, OID 99, 101 soft call; $115 million seven-year second-lien term loan (Caa1/CCC+) talked at Libor plus 900 bps to 925 bps, 1% Libor floor, OID 981/2, non-call one, 102, 101; help fund acquisition of the TV business of Digital Generation Inc.; Needham, Mass., video platform for integrated TV, online and mobile advertising.

GLENCOE PRINCIPAL HOLDINGS: $200 million credit facility; Macquarie; $25 million five-year revolver (B2/B+); $130 million five-year first-lien term loan (B2/B+) talked at Libor plus 650 bps, 1% Libor floor, 101 soft call; $45 million seven-year second-lien term loan (Caa2/CCC+) talked at Libor plus 900 bps, 1% Libor floor, OID 981/2, call protection 102, 101; refinance existing subsidiary debt, acquire certain outstanding equity interests held by third parties and fund a distribution to sponsor Glencoe Capital; Co-borrowers are subsidiaries Dixie Chemical, a Pasadena, Texas-based manufacturer of high-purity chemicals, complex compounds and chemical intermediates, Child Development Schools, a Columbus, Ga.-based for-profit preschool education and early care provider, and Polyair Corp., a Toronto-based manufacturer and marketer of protective packaging products.

NICE-PAK PRODUCTS: $230 million senior secured credit facility; RBC; $60 million five-year asset-based revolver talked with a grid of Libor plus 150 bps to 200 bps based on availability, 37.5 bps unused fee; $170 million six-year term B talked at Libor plus 475 bps to 500 bps, 1% Libor floor, OID 99, 101 soft call; refinance existing debt; Orangeburg, N.Y., manufacturer of wet wipes for baby and health care applications.

NORTH ATLANTIC TRADING CO. INC.: $255 million of term loans; Wells Fargo and Jefferies; $165 million six-year first-lien term B (B2/B-) talked at Libor plus 650 bps, 1.25% Libor floor, OID 99, 101 soft call; $90 million 61/2-year second-lien term loan (Caa1/CCC) talked at Libor plus 1,050 bps, 1.25% Libor floor, OID 98, call protection 103, 102, 101; refinance existing debt; Louisville, Ky., manufacturer and marketer of tobacco products.

On The Horizon

ANAREN INC.: $235 million senior secured credit facility; Credit Suisse; $20 million revolver; $145 million first-lien term loan; $70 million second-lien term loan; help fund buyout by Veritas Capital; Syracuse, N.Y.-based designer, developer, manufacturer and seller of highly integrated microwave components, assemblies and subsystems for the wireless communications, satellite communications and defense electronics markets.

ARDEN GROUP INC.: $180 million senior secured credit facility; BMO; $30 million revolver; $150 million term loan; help fund buyout by TPG; Compton, Calif., operator of specialty grocery stores.

AVAGO TECHNOLOGIES LTD.: $5.1 billion credit facility; $500 million revolver; $4.6 billion seven-year term loan; help fund acquisition of LSI Corp.; Singapore-based designer, developer and supplier of analog semiconductor devices.

BOB'S DISCOUNT FURNITURE: New debt financing; RBC and UBS; help fund buyout by Bain Capital; Manchester, Conn., retailer of furniture and bedding.

CONVERGYS CORP.: $350 million term loan; Citigroup and Bank of America; help fund acquisition of Stream Global Services Inc.; Cincinnati-based provider of customer management services.

DEALERTRACK TECHNOLOGIES: $825 million senior secured credit facility; JPMorgan, Bank of America, Barclays and Wells Fargo; $200 million revolver; $625 million seven-year term loan; help fund acquisition of Dealer.com; Lake Success, N.Y., provider of web-based software and services to the automotive industry.

ENGILITY CORP.: $150 million of incremental senior secured credit facility debt due Aug. 9, 2018; Bank of America; $75 million add-on term loan; $75 million add-on revolver; help fund acquisition of Dynamics Research Corp.; Chantilly, Va.-based pure-play government services contractor.

HARLAND CLARKE HOLDINGS CORP.: New bank debt; Credit Suisse, Bank of America and Citigroup; if amendment obtained $70 million add-on revolver, $500 million add-on term loan; if amendment not obtained $150 million revolver, $250 million add-on term loan; help fund acquisition of Valassis; San Antonio-based provider of payment, marketing and security services.

IKARIA INC.: New debt financing; Credit Suisse; help fund buyout by Madison Dearborn Partners; Hampton, N.J., critical care company.

JONES GROUP INC.: New debt financing; Morgan Stanley, Jefferies, MCS Capital, KKR, Wells Fargo, Burdale Financial and Bank of America; help fund buyout by Sycamore Partners; New York-based designer, marketer and wholesaler of apparel, footwear, jeanswear, jewelry and handbags.

PEROXYGENS: New debt financing; Macquarie; help fund buyout by One Equity Partners from FMC Corp.; supplier of Hydrogen Peroxide, persulfate products, peracetic acid and other eco-friendly specialty oxidants.

SOUTHWIRE CO.: $1.75 billion senior secured credit facility; Bank of America, Wells Fargo, BMO and Macquarie;$1 billion asset-based revolver expected at Libor plus 150 bps, 30 bps unused fee; $750 million seven-year covenant-light term loan expected at Libor plus 275 bps, 0.75% Libor floor; help fund acquisition of Coleman Cable Inc.; Carrollton, Ga., wire and cable producer.

TAMINCO CORP.: New debt financing; help fund acquisition of the formic acid business of Kemira Oyj; Allentown, Pa., producer of alkylamines and alkylamine derivatives.

VERINT SYSTEMS INC.: $300 million incremental term loan due Sept. 6, 2019; Credit Suisse and Deutsche Bank; help fund acquisition of KANA Software Inc.; Melville, N.Y., provider of actionable intelligence and value-added services.

VISANT CORP.: $260 million senior secured term loan expected at Libor plus 575 bps, 1% Libor floor, 101 soft call for six months; Credit Suisse; help fund acquisition of American Achievement Group Holding Corp.; Armonk, N.Y., marketing and publishing company.

XPO LOGISTICS INC.: $325 million of senior secured term loans; Credit Suisse; help fund acquisition of Pacer International Inc. and general corporate purposes; Greenwich, Conn., provider of transportation logistics services.

© 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.