High Yield Calendar: No deals being marketed

Expected September Business

WEST CORP.: $1.35 billion senior notes backed by $1.35 billion bridge, and $3.05 billion of senior secured credit facilities; Credit Suisse Securities (USA) LLC, RBC Capital Markets LLC, Barclays, Bank of America Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley Senior Funding Inc. and Goldman Sachs Bank USA are the arrangers on the debt; to help fund the buyout by Apollo Global Management LLC, expected to close during the second half of 2017; Omaha-based provider of communication and network infrastructure services; announced in June 15 SEC filing.

On The Horizon

BEACON ROOFING SUPPLY INC.: $1.3 billion senior notes backed by $1.3 billion senior unsecured one-year bridge loan via Wells Fargo and Citigroup, capped at 7¾%; also $2.27 billion senior secured credit facilities; to help fund its acquisition of East Rutherford, N.J.-based building products distributor Allied Building Products Corp. and refinance an existing $440 million term loan B; Beacon Roofing is a Herndon, Va.-based distributor of residential and commercial roofing materials and complementary building products; bridge launched on Sept. 7 investor call, commitments due Sept. 13.

CATALENT, INC.: New unsecured notes, along with equity, to fund $950 million acquisition of Bloomington, Ind.-based integrated provider of drug substance and drug product manufacturing Cook Pharmica LLC, expected to close in the fourth quarter of 2017; committed financing from Morgan Stanley Senior Funding, Inc. (lead arranger), J.P. Morgan, RBC Capital Markets, and BofA Merrill Lynch; Somerset, N.J.-based Catalent provides advanced delivery technologies and development solutions for drugs, biologics and consumer health products; Catalent will host a conference call and webcast at 8:30 a.m. ET on Sept. 19, 2017.

GODADDY INC.: $530 million bridge financing and $1,377,000,000 incremental term loan; to help fund the acquisition of Host Europe Group from Cinven, expected in the second quarter of 2017; GoDaddy is Scottsdale, Ariz.-based provider of web hosting and domain names; Host Europe is an England-based hosting provider and domain registrar.

ITRON INC.: $350 million notes backed by bridge loan initially priced at Libor plus 500 bps with 1% Libor floor, and $400 million term loan via Wells Fargo lead arranger and bookrunner; to fund its acquisition of San Jose, Calif.-based Internet connectivity platforms and services Silver Spring Networks Inc.; Liberty Lake, Wash.-based technology and services company; disclosed in 8-K document filed on Sept. 18 with Securities and Exchange Commission.

MMI INTERNATIONAL LTD.: $300 million senior secured notes due 2021 (expected ratings B2/B+); Goldman Sachs & Co. (left books), ANZ, KKR, Standard Chartered (joint books); Rule 144A and Regulation S; pay down term loan A; Singapore-based technology company with a focus on key components for the hard disk drive industry; international roadshow ran in late October into early November; initial guidance 9% area.

NORWEGIAN AIR SHUTTLE ASA: Possible krone-denominated 3.5-year bond and potential tap of existing 7¼% euro-denominated notes (€185 million outstanding, €250 million borrowing limit); Arctic Securities, Danske Bank, DNB Markets, SEB; to refinance outstanding floating-rate notes and general corporate purposes; Fornebu, Norway-based passenger airline; investor meetings May 22.

PATTONAIR: Dollar-denominated bonds backing Platinum Equity's buyout of the company from Exponent Private Equity; Deutsche Bank; Derbyshire, England-based global supply chain provider supporting engine and airframe manufacturers and maintenance, repair and operations customers; buyout set to close in fourth quarter of 2017.

SINCLAIR BROADCAST GROUP INC.: Commitment for $5.6 billion in debt financing, including a $785 million bridge loan, to help fund acquisition of Tribune Media Co.; expected 50:50 mix of fixed- and floating-rate debt; JPMorgan Chase Bank, RBC and Deutsche Bank Securities Inc. leads; Hunt Valley, Md.-based television broadcasting company.

TELEFLEX INC.: Possible senior notes could come as an opportunistic deal to repay bank debt; also $750 million term loan to fund the acquisition of Vascular Solutions Inc., expected to close in the first half of 2017 (company has received a commitment from JPMorgan Chase Bank for a new $750 million senior unsecured bridge facility in connection with the planned acquisition); Teleflex is a Wayne, Pa.-based provider of medical technologies; Vascular Solutions is a Minneapolis-based medical device company; disclosed during Dec. 2 conference call.

VANTIV LLC: $1.13 billion senior notes backed by one-year bridge at Libor plus 425 bps, 1% Libor floor, and $3.08 billion incremental bank debt; Morgan Stanley, Credit Suisse and MUFG are the lenders under the incremental loans and joint lead arrangers and joint bookrunners on the bridge loan; to help fund Vantiv’s merger with Worldpay Group plc, to refinance existing Worldpay debt and for general corporate purposes; Vantiv is a Cincinnati-based merchant and PIN debit acquirer; Worldpay is a London-based payments company (combined company will be named Worldpay and have global and corporate headquarters in Cincinnati and international headquarters in London); announced in Aug. 16 8-K.

© 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.