Bank Loan Calendar: $21.719 billion deals being marketed

March Bank Meetings

BOYD CORP.: Bank meeting March 31; $557 million credit facility; UBS, RBC and BMO; $50 million five-year revolver; $365 million seven-year first-lien term loan, 1% Libor floor; $142 million eight-year second-lien term loan, 1% Libor floor; help fund buyout by Genstar Capital; Modesto, Calif., manufacturer and supplier of custom fabricated sealing and energy management components for OEMs.

CONCORDIA HEALTHCARE CORP.: Bank meeting March 30; $750 million credit facility; RBC; $100 million revolver; $650 million term B; help fund acquisition of Covis; Oakville, Ont., health care company.

Upcoming Closings

ADVANTAGE SALES & MARKETING LLC: $150 million add-on term loan (B) talked at Libor plus 325 bps, 1% Libor floor, OID 99 to 99½, 101 soft call for six months; Jefferies; acquisition financing; Irvine, Calif., sales and marketing agency.

ALLISON TRANSMISSION INC.: Expected close April 7; $470 million senior secured first-lien term B-4 (Ba2/BB+/BB) due Aug. 23, 2019 talked at Libor plus 275 bps to 300 bps, 1% Libor floor, OID 99½, 101 soft call for six months; Citigroup, Barclays, Fifth Third Bank, Deutsche Bank, JPMorgan, Goldman Sachs, BMO, Mitsubishi UFJ and Sumitomo Mitsui; fund notes tender offer; Indianapolis-based automatic transmission company.

ALVOGEN: $675 million seven-year senior secured term loan (B3/B) talked at Libor plus 500 bps, 1% Libor floor, OID 99, 101 soft call for six months; Jefferies, Goldman Sachs and SunTrust; to refinance existing debt and for general corporate purposes; generic pharmaceutical company.

AMERICAN BEACON ADVISORS INC.: $350 million credit facility; RBC and Barclays; $40 million revolver (B+); $230 million first-lien term loan (B+) at Libor plus 450 bps, 1% Libor floor, OID 99½, 101 soft call; $80 million second-lien term loan (B-) at Libor plus 875 bps, 1% Libor floor, OID 98, call protection 102, 101; help fund buyout by Kelso & Co. and Estancia Capital Management from TPG Capital and Pharos Capital Group LLC; Fort Worth, Texas, provider of investment advisory services to institutional and retail markets.

AMERICAN TIRE DISTRIBUTORS INC.: $720 million 6½-year covenant-light term loan (B2/B-) at Libor plus 425 bps, 1% Libor floor, OID 99½, 101 hard call; Bank of America; refinance existing term debt; Huntersville, N.C., replacement tire distributor.

E.W. SCRIPPS CO.: Roughly $400 million term B (including $200 million add-on) at Libor plus 275 bps, 0.75% Libor floor, OID 99¾ on add-on; SunTrust; facilitate the movement of broadcast assets into E.W. Scripps and newspaper assets into Journal Communications and reprice upwards an existing term B; Cincinnati-based media company.

HYPERION INSURANCE GROUP LTD.: $750 million seven-year term B (B1) at Libor plus 450 bps, step-down to Libor plus 425 bps at 3.25x net secured leverage, 1% Libor floor, OID 99½, 101 soft call; Morgan Stanley, HSBC, RBC and Lloyds; also £85 million five-year revolver (B1) at Libor plus 425 bps, OID 99; help fund acquisition of RK Harrison Holdings Ltd. and repay existing Hyperion debt.; London-based insurance intermediary group.

INEOS FINANCE PLC: About €1.4 billion-equivalent seven-year senior secured term B (BB-) ($625 million tranche, €850 million tranche) at Libor/Euribor plus 325 bps, 1% floor, OID 99½, 101 soft call for six months; Barclays, JPMorgan, Bank of America, Citigroup and Morgan Stanley; refinance notes; Switzerland-based manufacturer of petrochemicals, specialty chemicals and oil products.

INTERTAIN GROUP LTD.: $352.5 million credit facility (B2/BB); Macquarie; $335 million seven-year first-lien covenant-light term loan talked at Libor plus 500 bps to 525 bps, 1% Libor floor, OID 99, 101 soft call for six months; $17.5 million revolver; help fund acquisition of Gamesys’ business-to-consumer assets; Toronto-based owner of a variety of bingo-led and other market-leading business-to-consumer assets.

LONGVIEW POWER LLC: $275 million senior secured credit facility (B2/BB-); Morgan Stanley and KKR Capital; $25 million five-year revolver; $250 million six-year term B talked at Libor plus 625 bps to 650 bps, 1% Libor floor, OID 98, 101 soft call; exit financing; Maidsville, W.Va., integrated power generation enterprise.

MEN’S WEARHOUSE INC.: $300 million fixed-rate term loan due June 18, 2021 talked at 5% to 5¼%, OID 99¾, non-call one, 102, 101; refinance some term debt; Houston-based specialty retailer of men’s apparel.

MONITRONICS INTERNATIONAL INC.: $350 million incremental seven-year term loan (Ba3/B) talked at Libor plus 350 bps, 1% Libor floor, OID 99½, 101 soft call for six months; Bank of America, Citigroup and Credit Suisse; pay down revolver and some term loan debt due in 2018; Dallas-based home security alarm monitoring company.

MURRAY ENERGY CORP./FORESIGHT ENERGY LP: $2.25 billion of term loans (Ba3/BB-); Deutsche Bank and Goldman Sachs; $1.6 billion term B at Murray talked at Libor plus 575 bps, 1% Libor floor, OID 98; $650 million term B at Foresight talked at Libor plus 475 bps, 1% Libor floor, OID 99; help fund acquisition of a controlling interest in Foresight and refinance existing debt; St. Clairsville, Ohio, coal company.

NATEL EMS: $280 million five-year term loan talked at Libor plus 575 bps, 1% Libor floor, OID 99, soft call 102, 101; Goldman Sachs and GE Capital; help fund acquisition of OnCore Manufacturing from Charlesbank; Chatsworth, Calif., manufacturer of electronic components.

NATIONAL FINANCIAL PARTNERS CORP.: $165 million add-on covenant-light term B due July 2020 at Libor plus 350 bps, 1% Libor floor, OID 99, 101 soft call for six months; Bank of America and Jefferies; pay down revolver and general corporate purposes; New York-based provider of insurance brokerage and wealth management services.

NORTEK INC.: $250 million add-on term B (Ba3/BB-) talked at Libor plus 300 bps, 0.75% Libor floor, OID 98¼, 101 soft call for six months; Wells Fargo, RBC, UBS and Jefferies; refinance notes; Providence, R.I., manufacturer of air management and technology-driven products for residential and commercial applications.

PENN PRODUCTS TERMINALS LLC: $700 million first-lien credit facility (BB); Morgan Stanley; $125 million five-year revolver talked at Libor plus 425 bps to 450 bps; $575 million seven-year term B talked at Libor plus 425 bps to 450 bps, 1% Libor floor, OID 99, 101 soft call; help fund buyout by ArcLight Capital Partners; refined product terminal storage business in Pennsylvania.

PET SUPPLIES PLUS: $170 million credit facility; BNP Paribas; $20 million revolver; $125 million six-year term B talked at Libor plus 475 bps, 1% Libor floor, OID 99 to 99½, 101 soft call for six months; refinance existing debt; Livonia, Mich., pet supplies store chain.

PLANET FITNESS HOLDINGS LLC: $120 million add-on covenant-light term B (B+) due 2021 at Libor plus 375 bps, 1% Libor floor, OID 99 7/8, 101 soft call for six months; JPMorgan, Guggenheim Securities, Jefferies, BMO and U.S. Bank; fund a dividend and general corporate purposes; operator of health clubs.

POST HOLDINGS INC.: $700 million incremental secured term B (Ba2) due June 2, 2021 at Libor plus 300 bps, 0.75% Libor floor, OID 99½, 101 soft call for six months; Credit Suisse and Barclays; help fund acquisition of MOM Brands Co.; St. Louis-based consumer packaged goods holding company.

REGAL CINEMAS CORP.: $966 million senior secured covenant-light term loan (Ba1/BB) due 2022 at Libor plus 300 bps, 0.75% Libor floor, OID 99¾, 101 soft call for six months; Credit Suisse, Bank of America, Barclays, Morgan Stanley and Wells Fargo; refinance existing term loan; Knoxville, Tenn., motion picture exhibitor.

RIVERBED TECHNOLOGY INC.: $1.725 billion senior secured credit facility (B1/B); Credit Suisse, Citigroup, Barclays and Morgan Stanley; $100 million five-year revolver; $1.625 billion seven-year first-lien term loan at Libor plus 500 bps, step-down to Libor plus 475 bps based on total first-lien leverage, 1% Libor floor, OID 99½, 101 soft call for six months; help fund buyout by Thoma Bravo LLC and Teachers’ Private Capital; San Francisco-based technology company that specializes in improving the performance of networks and networked applications.

ROYAL ADHESIVES & SEALANTS: Expected close April 2; $40 million add-on senior secured term B (B1/B) due July 31, 2018 at Libor plus 425 bps, 1.25% Libor floor; Morgan Stanley; help fund the acquisition of Chemical Innovations Ltd.; South Bend, Ind., manufacturer and marketer of high-performance adhesives, sealants, encapsulants and specialty polymers.

SAGE AUTOMOTIVE HOLDINGS INC.: $30 million add-on first-lien term loan talked at Libor plus 500 bps, 1% Libor floor, OID 99; UBS; fund purchase of equity interests in Miko and increasing equity stake in Wuhan joint venture; Greensville, S.C., supplier of high-performance specialty fabric materials for automobiles.

SEAWORLD ENTERTAINMENT INC.: $280 million incremental term B-3 (B1/BB) talked at Libor plus 350 bps, 0.75% Libor floor, OID 99 to 99½, 101 soft call for six months; Bank of America; refinance senior notes; Orlando, Fla., theme park operator.

SERVICEMASTER CO. LLC: $175 million incremental term loan at Libor plus 325 bps, 1% Libor floor, OID 99¾; JPMorgan, Credit Suisse, Goldman Sachs, Morgan Stanley, Bank of America, Jefferies, Natixis and RBC; fund notes redemption; Memphis-based provider of maintenance services to residential and commercial customers.

TOP RIGHT GROUP (EDEN BIDCO LTD.): $325 million seven-year covenant-light term B (B2) talked at Libor plus 475 bps to 500 bps, 1% Libor floor, OID 99, 101 soft call for six months; Deutsche Bank, HSBC, Lloyds and BNP Paribas; also €305 million seven-year covenant-light term B (B2) talked at Euribor plus 475 bps to 500 bps, 1% floor, OID 99, 101 soft call for six months; £75 million six-year revolver (B2); refinance all existing senior and mezzanine facilities and general corporate purposes; London-based B2B media company.

TOWNSQUARE MEDIA INC.: $325 million senior secured credit facility (Ba2/BB-); RBC, Bank of America, SunTrust, Macquarie and Jefferies; $50 million five-year revolver; $275 million seven-year term B at Libor plus 325 bps, 1% Libor floor, OID 99½, 101 soft call; help refinance existing senior secured credit facility and notes; Greenwich, Conn., diversified media and entertainment and digital marketing services company.

TRAVEL LEADERS GROUP LLC: $78.5 million add-on first-lien term loan (B+) due Dec, 5, 2020 talked at Libor plus 600 bps, 1% Libor floor, OID 99½; UBS; fund a dividend; Plymouth, Minn., travel agency company.

TTM TECHNOLOGIES INC.: $915 million credit facility; JPMorgan and Barclays; $150 million asset-based revolver; $765 million term B (B1/B+) talked at Libor plus 450 bps, 1% Libor floor, OID 99, 101 soft call for six months; help fund acquisition of Viasystems Group Inc., refinance some debt and general corporate purposes; Costa Mesa, Calif., printed circuit board manufacturer.

VALEANT PHARMACEUTICALS INTERNATIONAL INC.: $5.15 billion of incremental term loans (Ba1/BB); Deutsche Bank, HSBC, the Bank of Tokyo-Mitsubishi, DNB Markets, SunTrust, Barclays, Morgan Stanley, RBC and Citigroup; $1 billion incremental five-year term A; $4.15 billion seven-year term F (split into $2.35 billion funded F-1 tranche and $1.8 billion delayed-draw F-2 tranche) at Libor plus 325 bps, step-down to Libor plus 300 bps at 1.75x net senior secured leverage, 0.75% Libor floor, OID 99½, 101 soft call for six months; help fund acquisition of Salix Pharmaceuticals Ltd. and refinance Salix debt; Laval, Quebec, specialty pharmaceutical company.

VIAWEST: $480 million senior secured credit facility (B2/B+); TD Securities and RBC; $85 million five-year revolver; $395 million seven-year term B at Libor plus 350 bps, 1% Libor floor, OID 99, 101 soft call for six months; refinance existing debt; Greenwood Village, Colo., IT Infrastructure company.

WALGREENS INFUSION SERVICES: $495 million credit facility (B2/B); Bank of America, Barclays, Deutsche Bank and Goldman Sachs; $80 million revolver; $415 million seven-year term loan at Libor plus 500 bps, step-down to Libor plus 475 bps at 3.5x first-lien leverage, 1% Libor floor, OID 99½, 101 soft call; help fund buyout by Madison Dearborn Partners from Walgreen Co.; provider of home and alternate treatment site infusion services.

On The Horizon

AIR MEDICAL GROUP HOLDINGS: New debt financing; Morgan Stanley, Jefferies, and KKR Capital; help fund buyout by KKR from Bain Capital and Brockway Moran & Partners; Lewisville, Texas, provider of air ambulance services.

BLUE COAT SYSTEMS INC.: New debt financing; Jefferies; help fund buyout by Bain Capital from Thoma Bravo LLC; Sunnyvale, Calif., web security company.

COMMSCOPE INC.: $1.5 billion seven-year senior secured covenant-light incremental term loan expected at Libor plus 350 bps, 0.75% Libor floor, 101 soft call for six months; JPMorgan, Bank of America, Deutsche Bank and Wells Fargo; help fund the acquisition of TE Connectivity’s Telecom, Enterprise and Wireless businesses; Hickory, N.C., provider of infrastructure services for communication networks.

ENVIVA PARTNERS LP: $199.5 million five-year senior secured credit facility; $25 million revolver expected at Libor plus 425 bps, 1% Libor floor; $99.5 million tranche A-1 loan expected initially at Libor plus 410 bps, 1% Libor floor, 101 soft call for six months; $75 million tranche A-2 loan expected at Libor plus 425 bps, 1% Libor floor, 101 soft call for six months; refinance existing debt and make a distribution to the sponsor in connection with initial public offering of common units; Bethesda, Md., supplier of utility-grade wood pellets to power generators.

ERESEARCHTECHNOLOGY INC.: New debt financing; Jefferies and Citizens Bank; help fund acquisition of PHT Corp.; Philadelphia-based provider of patient-centric endpoint data collection services for use in clinical drug development.

ESTERLINE CORP.: $750 million five-year amended and restated secured credit facility (BB+); $500 million revolver; $250 million delayed-draw term loan for working capital and refinancing of debt; Bellevue, Wash., specialized manufacturing company principally serving aerospace and defense markets.

GREAT WOLF RESORTS INC.: New debt financing; JPMorgan and Citigroup; help fund buyout by Centerbridge Partners LP from Apollo Global Management LLC; Madison, Wis., indoor water park resort operator.

GREATLAND CONNECTIONS INC.: New term loans and revolver; help fund acquisition of about 2.5 million customers from Comcast/Time Warner Cable; newly formed cable company.

KREMERS URBAN PHARMACEUTICALS INC.: New debt financing; Credit Suisse, Morgan Stanley, Goldman Sachs and Jefferies; help fund buyout by Advent International and Avista Capital Partners from UCB SA; Princeton, N.J., specialty generic pharmaceuticals company.

LIFE TIME FITNESS INC.: New debt financing; Deutsche Bank, Goldman Sachs, Jefferies, BMO, RBC, Macquarie and Nomura; help fund buyout by Leonard Green & Partners and TPG; Chanhassen, Minn., operator of sports, professional fitness, family recreation and spa destinations.

MALIBU BOATS LLC: $105 million amended and restated five-year credit facility; SunTrust; $25 million revolver; $80 million term loan; fund modified Dutch auction tender offer for class A common stock, refinance existing credit facility and general corporate purposes; designer, manufacturer and marketer of performance sport boats.

MICROSEMI CORP.: $300 million incremental term loan (BB+) due Feb. 19, 2020 expected at Libor plus 275 bps, 0.75% Libor floor; Bank of America; help fund acquisition of Vitesse Semiconductor Corp.; Aliso Viejo, Calif., provider of semiconductor and system services.

MITEL NETWORKS CORP.: $700 million senior secured credit facility; Bank of America and Credit Suisse; $50 million five-year revolver expected at Libor plus 450 bps, 50 bps unused fee; $650 million seven-year first-lien term loan expected at Libor plus 450 bps, 1% Libor floor, 101 soft call for six months; help fund acquisition of Mavenir Systems and refinance existing bank debt; Kanata, Ont., provider of cloud- and premises-based unified communications software services.

MJ ACQUISITION CORP.: New debt financing; JPMorgan; help fund acquisition of Concentra Inc. from Humana Inc.; joint venture between Select Medical Holdings Corp. and Welsh, Carson, Anderson & Stowe; health care company.

NEP GROUP INC.: Incremental debt; Barclays; help fund acquisition of Mediatec Group; Pittsburgh-based provider of outsourced teleproduction services critical to the delivery of live sports and entertainment events.

NXP SEMICONDUCTORS NV: $7 billion of senior secured bank debt; Credit Suisse; $3.25 billion five-year covenant-light term B-1 expected at Libor plus 325 bps, step-down to Libor plus 300 bps at 2x consolidated net leverage, 0.75% Libor floor, 101 soft call; $3.25 billion seven-year covenant-light term B-2 expected at Libor plus 350 bps, step-down to Libor plus 325 bps at 2x consolidated net leverage, 0.75% Libor floor, 101 soft call; $500 million five-year super-priority revolver expected at Libor plus 200 bps; help fund acquisition of Freescale Semiconductor Ltd.; Eindhoven, Netherlands, maker of semiconductors.

PASHA GROUP: New debt financing; fund acquisition of Horizon Lines Inc.’s Hawaii trade lane business; San Rafael, Calif., logistics and transportation company.

PERFORMANCE FOOD GROUP: $550 million add-on term loan; Credit Suisse, Wells Fargo, Barclays, Morgan Stanley, Bank of America, BMO and Macquarie; also upsizing existing ABL credit facility; help fund acquisition of 11 distribution centers from US Foods; Richmond, Va., foodservice distributor.

POLYMER GROUP INC.: $70 million add-on term loan; Jefferies; fund acquisition of Dounor SAS; Charlotte, N.C., developer, producer and marketer of specialty materials used in infection prevention, personal care and high-performance services.

RBC BEARINGS INC.: $550 million credit facility; Wells Fargo; $350 million revolver; $200 million senior term A; help fund acquisition of the Sargent Aerospace & Defense business of Dover Corp.; Oxford, Conn., manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries.

SCIENCE APPLICATIONS INTERNATIONAL CORP.: $670 million senior secured term B; Citigroup and Bank of America; help fund acquisition of Scitor Corp. from Leonard Green & Partners; McLean, Va., technology integrator providing full life-cycle services in the technical, engineering, and enterprise information technology markets.

SS&C TECHNOLOGIES HOLDINGS INC.: $2.63 billion senior secured credit facility; Morgan Stanley and Deutsche Bank; $150 million revolver; $2.08 billion term B-1; $400 million term B-2; help fund acquisition of Advent Software Inc.; Windsor, Conn., provider of financial services software and software-enabled services.

STAMPS.COM: $165 million secured credit facility; Wells Fargo, Bank of America and JPMorgan; $82.5 million term loan; $82.5 million revolver; help fund acquisition of Endicia from Newell Rubbermaid Inc.; El Segundo, Calif., provider of Internet-based postage services.

STAPLES INC.: $5.75 billion credit facility; Barclays and Bank of America; $3 billion asset-based five-year revolver expected at Libor plus 150 bps to 200 bps based on average excess availability; $2.75 billion six-year senior secured term B expected at Libor plus 375 bps, 0.75% Libor floor, 101 soft call for six months; help fund acquisition of Office Depot Inc.; Framingham, Mass., retailer of office supplies.

STERIGENICS INTERNATIONAL: New debt financing; JPMorgan; help fund recapitalization with Warburg Pincus and GTCR; Oak Brook, Ill., provider of contract sterilization, gamma technologies and medical isotopes.

TI AUTOMOTIVE: New debt financing; help fund buyout by Bain Capital; Auburn Hills, Mich., provider of fluid storage, carrying and delivery systems to automotive manufacturers.

© 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.