Bank Loan Calendar: $40.374 billion deals being marketed

February Bank Meetings

SCIENCE APPLICATIONS INTERNATIONAL CORP.: Bank meeting Feb. 27; $600 million seven-year incremental covenant-lite term loan B (Ba1/BB+); Citigroup; help fund acquisition of Unisys Federal; Reston, Va., technology integrator.

Upcoming Closings

ADVANTAGE SALES & MARKETING INC.: $1.825 billion equivalent of term loans (B1/B-); BofA Securities; $1.525 billion first-lien covenant-lite term B talked at Libor plus 475 bps, OID 99, 101 soft call for six months; $300 million equivalent euro first-lien covenant-lite term B; refinance existing debt; Irvine, Calif., sales and marketing agency.

ALKERMES INC.: $350 million five-year senior secured covenant-lite term B (Ba3/BB) talked at Libor plus 225 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; Morgan Stanley and Cowen; refinance existing term B and fund general corporate purposes; Dublin-based biopharmaceutical company.

AMERICAN EXPRESS GLOBAL BUSINESS TRAVEL: $1.37 billion credit facilities (B2/B+); Credit Suisse, Morgan Stanley, Goldman Sachs, UBS, BofA Securities and Kookmin; $150 million revolver; $1.22 seven-year covenant-lite first-lien term loan (including $605 million delayed-draw) talked at Libor plus 350 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; fund a shareholder distribution and acquisition financing; travel management company.

ASTRA: $475 million credit facilities; UBS, Deutsche Bank and Barclays; $40 million revolver (B2/B-/BB-); $325 million seven-year first-lien term loan (B2/B-/BB-) at Libor plus 550 bps, 1% Libor floor, OID 98.5, 101 soft call for six months; $110 million placed second-lien term loan (Caa2/CCC/CCC+); help fund the acquisition of Campus Management Acquisition Corp. and Edcentric Holdings LLC by Veritas Capital from Leeds Equity Partners LLC; provider of student information systems, customer relationship management, enterprise resource planning solutions, and data-driven solutions around student and alumni engagement, retention and compliance.

ATLAS TECHNICAL CONSULTANTS INC.: $321 million credit facilities (B); Macquarie and Natixis; $40 million revolver; $281 million seven-year term B talked at Libor plus 475 bps to 500 bps, OID 99; support already completed acquisition by Boxwood Merger Corp., fund an acquisition and refinance existing debt; Austin, Tex., provider of professional testing, inspection, engineering and consulting services.

AVI-SPL: $370 million seven-year covenant-lite term B (B2/B) talked at Libor plus 475 bps, 1% Libor floor, OID 99, 101 soft call for six months; BofA Securities, Barclays, Guggenheim, KKR and Macquarie; help fund merger with Whitlock; Tampa, Fla.-based digital workplace services provider.

BAUSCH HEALTH AMERICAS INC.: Roughly $5.144 billion seven-year first-lien term B (Ba2/BB/BB) talked at Libor plus 225 bps, 0% Libor floor, OID 99.5 to 99.75, 101 soft call for six months; Barclays and Citigroup; refinance term loan debt and redeem bonds; Laval, Quebec, specialty pharmaceutical and medical device company.

CAPSTONE LOGISTICS ACQUISITION INC.: $395 million seven-year first-lien term B (B3/B-) talked at Libor plus 450 bps to 475 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; Credit Suisse; refinance existing debt; Peachtree Corners, Ga., third party logistics company.

C.J. FOODS INC.: $285 million term B (B2/B-) talked at Libor plus 450 bps, 0% Libor floor, OID 99, 101 soft call for six months; Citizens; help fund acquisition of American Nutrition Inc.; Kansas-based manufacturer of pet food.

COOK & BOARDMAN GROUP: $75 million of term loan debt; Goldman Sachs; $50 million incremental first-lien term loan due October 2025 talked at Libor plus 575 bps, 1% Libor floor, OID 99, 101 soft call for six months; $25 million delayed-draw term loan due October 2025 talked at Libor plus 575 bps, 1% Libor floor, OID 99; for mergers and acquisitions, and refinance existing debt; Winston-Salem, N.C., provider of commercial and architectural door services.

DUFF & PHELPS: $1.75 billion equivalent credit facilities (B2/B-); Goldman Sachs, UBS, BofA Securities, Morgan Stanley, Stone Point Capital, KKR, Capital One and Credit Suisse; $200 million revolver; $1.225 billion seven-year first-lien term B talked at Libor plus 350 bps, 0% Libor floor OID 99.5, 101 soft call for six months; €300 million seven-year first-lien term B talked at Euribor plus 350 bps, 0% Libor floor OID 99.5, 101 soft call for six months; help fund buyout by Stone Point Capital and Further Global; New York-based independent advisor.

DURAVANT LLC (ENGINEERED MACHINERY HOLDINGS INC.): $205 million of incremental bank debt; Jefferies, Citigroup, Credit Suisse, Antares, Societe Generale and KeyBanc; $50 million incremental revolver; $155 million incremental first-lien term loan due July 2024 talked at Libor plus 425 bps, 1% Libor floor, OID 99.5; fund acquisition Woodside Electronics Corp.; Downers Grove, Ill., automation solutions platform providing highly engineered equipment and related aftermarket parts and services.

GARDNER DENVER INC. (INGERSOLL-RAND SERVICES CO.): Expected closing Feb. 28; $3.485 billion equivalent of senior secured covenant-lite term loans (Ba2/BB+); Citigroup, KKR, Goldman Sachs, HSBC, Mizuho, PNC, BMO, Credit Agricole, MUFG and Standard Chartered; $1.9 billion seven-year term B at Libor plus 175 bps, 0% Libor floor, OID 99.875, 101 soft call for six months; $928 million amended and extended seven-year term B at Libor plus 175 bps, 0% Libor floor, OID 99.875, 101 soft call for six months; $657 million euro equivalent seven-year amended and extended term B at Euribor plus 200 bps, 0% floor, OID 99.875, 101 soft call for six months; fund cash proceeds due to Trane Technologies at close; Milwaukee, Wis., provider of mission-critical flow control and compression equipment and associated aftermarket parts, consumables and services.

GENESISCARE: $1 billion equivalent U.S., euro and Australian term B (B); KKR (left on U.S.), Morgan Stanley (left on euro), Jefferies, BofA Securities and HSBC; minimum $350 million U.S. term loan talked at Libor plus 475 bps to 500 bps, 0% Libor floor, OID 99, 101 soft call for six months; euro term loan talked at Euribor plus 425 bps to 450 bps, 0% floor, OID 99.5, 101 soft call for six months; A$150 million term loan; help fund acquisition of 21st Century Oncology; Australian cancer and cardiac care company.

GROSVENOR CAPITAL MANAGEMENT: $344 million term B due March 2027 talked at Libor plus 225 bps, 0% Libor floor, OID 99.75, 101 soft call for six months; Goldman Sachs; repricing and extension; Chicago-based independent alternative asset management firm.

HORNBLOWER HOLDINGS: $25 million incremental first-lien term loan due April 2025 talked at Libor plus 450 bps, 0% Libor floor, OID 99.5 to par; UBS; repay revolver borrowings; San Francisco-based cruise and event company.

INNOVATIVE XCESSORIES & SERVICES LLC: $695 million credit facilities; UBS and Jefferies; $75 million ABL revolver; $620 million seven-year term loan (B2/B) talked at Libor plus 500 bps to 525 bps, 1% Libor floor, OID 99, 101 soft call for six months; help fund buyout by Clearlake Capital Group LP from Olympus Partners; Windsor, Ont., provider of coating solutions and vehicle upfit services to the automotive aftermarket and diversified industrial end markets.

KISSNER GROUP HOLDINGS LP: $1.225 billion senior secured credit facilities; Morgan Stanley; $125 million revolver (B3/B); $900 million seven-year covenant-lite first-lien term B (B3/B) talked at Libor plus 450 bps, 25 bps step-down at 0.5x inside closing date first-lien net leverage and 25 bps step-down at 1x inside closing date first-lien net leverage, 0% Libor floor, OID 99 to 99.5, 101 soft call for six months; $200 million privately placed second-lien term loan; help fund acquisition by Stone Canyon Industries Holdings LLC from Metalmark Capital Holdings LLC and Silvertree-KMC II LP; Overland Park, Kan., pure-play producer and supplier of salt.

KYMERA INTERNATIONAL: Expected closing March 16 week; $185 million incremental first-lien term loan (B2/B) due October 2025 at Libor plus 550 bps, 0% Libor floor, OID 99, 101 soft call for six months; Goldman Sachs, HSBC, KeyBanc and M&T; fund the acquisition of Reading Alloys and add cash to the balance sheet for permitted acquisitions and investments; Research Triangle Park, N.C., specialty materials company focused on the copper and aluminum metal powder industry.

LAKEVIEW LOAN SERVICING LLC: $550 million seven-year term B; M&T Bank; refinance existing debt and general corporate purposes; Coral Gables, Fla., mortgage finance company.

MICRO FOCUS INTERNATIONAL PLC: $1.435 billion equivalent U.S. and euro seven-year senior secured term loan B (B1); JPMorgan, Citigroup, Barclays, HSBC, RBS, BofA Securities and Goldman Sachs; minimum $500 million term B tranche talked at Libor plus 375 bps to 400 bps, 0% Libor floor, OID 99, 101 soft call for six months; minimum €500 million term B tranche talked at Euribor plus 325 bps to 350 bps, 0% floor, OID 99.5, 101 soft call for six months; refinance existing term B borrowings; Newbury, England, enterprise software company.

MINIMAX VIKING: $590 million covenant-lite term B (B1/B+) due July 2025 talked at Libor plus 225 bps, step-up to Libor plus 250 bps at 4x leverage and step-down to Libro plus 200 bps at less than 3x leverage, 0.75% Libor floor, 101 soft call for six months; Deutsche Bank; also €506 million covenant-lite term B (B1/B+) due July 2025 talked at Euribor plus 250 bps, step-up to Euribor plus 275 bps at 4x leverage and step-down to Euribor plus 225 bps at less than 3x leverage, 0% floor, 101 soft call for six months; repricing; Bad Oldesloe, Germany, fire protection company.

NORTHRIVER MIDSTREAM: $535 million incremental senior secured covenant-lite term B (Ba3/BB+) due Oct. 1, 2025 talked at Libor plus 325 bps, 0% Libor floor, OID 99, 101 soft call for six months; Citigroup, CIBC, Credit Suisse, HSBC, RBC and Scotia; repay existing term A; Canadian gas gathering and processing business.

OPEN LENDING LLC: $225 million seven-year term B at Libor plus 600 bps, 0% Libor floor, OID 98, 101 soft call for six months; UBS; dividend recapitalization; Austin, Texas, provider of lending enablement and risk analytics solutions to financial institutions.

PPD INC.: $4.6 billion credit facilities (Ba3/B+); JPMorgan; $500 million five-year revolver; $4.1 billion seven-year covenant-lite term B talked at Libor plus 200 bps to 225 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; refinance existing debt; Wilmington, N.C., contract research organization focused on clinical development and laboratory services.

SAVAGE ENTERPRISES LLC: Expected closing early March; $660 million term B (post paydown) (B1/BB) due Aug. 1, 2025 at Libor plus 300 bps, 0% Libor floor, 101 soft call for six months; Morgan Stanley; repricing; Salt Lake City-based supply chain provider.

SERVICE LOGIC: $140 million of incremental bank debt; Antares; $40 million term loan talked at Libor plus 425 bps, 25 bps step-down at 3.75x net first-lien leverage and 25 bps step-down at 3.25x net first-lien leverage, 1% Libor floor, OID 99; $100 million delayed-draw term loan talked at Libor plus 425 bps, 25 bps step-down at 3.75x net first-lien leverage and 25 bps step-down at 3.25x net first-lien leverage, 1% Libor floor, OID 99; fund acquisitions; Charlotte, N.C., provider of aftermarket maintenance, repair and replacement services for commercial HVAC equipment, chilled water systems and building automation and controls systems.

SNAPAV: $390 million of term loans; UBS, SunTrust and BMO; $290 million incremental first-lien term loan (B2) due August 2024 talked at Libor plus 475 bps, OID 95 to 96, 101 soft call until July 31; $100 million second-lien term loan; replace a term loan that was not syndicated but funded to help finance the acquisition of Control4 Corp.; Charlotte, N.C., manufacturer and primary source of A/V, surveillance, networking and remote management products for professional integrators.

SUNDYNE (STAR US BIDCO LLC): $635 million senior secured credit facilities (B2/B); Morgan Stanley; $100 million five-year revolver; $535 million seven-year covenant-lite first-lien term B talked at Libor plus 375 bps, 25 bps step-down at 5x net first-lien leverage and 25 bps step-down at an IPO, 0% Libor floor, OID 99.5, 101 soft call for six months; help fund buyout by Warburg Pincus from BC Partners Advisors LP and the Carlyle Group; Arvada, Colo., designer and manufacturer of mission critical flow control equipment.

THRYV INC.: $1.06 billion credit facilities; Credit Suisse; $200 million ABL revolver; $860 million five-year first-lien term loan talked at Libor plus 850 bps, 1% Libor floor, OID 98.5, call protection 102, 101; refinance existing debt and acquisition financing; Dallas-based provider of local small business lead generation solutions and management software.

TOSCA SERVICES LLC: $325 million seven-year first-lien term loan (including $75 million delayed-draw) (B2/B) talked at Libor plus 450 bps to 475 bps, 0% Libor floor, OID 99, 101 soft call for six months; Credit Suisse, UBS, KKR, Rabobank and Goldman Sachs; help fund the acquisition of Polymer Logistics and refinance existing debt; Atlanta-based provider of reusable packaging supply chain solutions.

VEEAM SOFTWARE: $1.25 billion seven-year term B (B1/B-) at Libor plus 325 bps, 25 bps step-down at 0.5x inside closing net first-lien leverage, 0% Libor floor, 101 soft call for six months; JPMorgan, Goldman Sachs, Morgan Stanley, Ares, BofA Securities, Golub and Antares; help fund buyout by Insight Partners; provider of backup solutions that deliver cloud data management.

VERTIV GROUP CORP.: Expected closing March 2; $2.2 billion seven-year covenant-lite term B (B1/B+) at Libor plus 300 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; Citigroup, JPMorgan, BofA Securities and Goldman Sachs; refinance remaining capital structure following closing of merger with GS Acquisition Holdings Corp.; Columbus, Ohio, provider of critical digital infrastructure and continuity solutions.

VISTAGE INTERNATIONAL INC.: $95 million of incremental bank debt; Macquarie and SunTrust; $80 million add-on first-lien term loan (B2) at Libor plus 400 bps, 1% Libor floor, OID 99.5; $15 million add-on revolver; repay a portion of second-lien term loan; San Diego-based for-profit membership organization of CEOs.

ZAYO GROUP HOLDINGS INC.: $5.56 billion equivalent of term loans (B1/B); Credit Suisse, Morgan Stanley, Citigroup, Deutsche Bank, SunTrust and TD Securities; $4.75 billion seven-year covenant-lite first-lien term loan at Libor plus 300 bps, 0% Libor floor, OID 99.75, 101 soft call for six months; $810 million euro equivalent (€750 million) seven-year covenant-lite first-lien term loan at Euribor plus 325 bps, 0% floor, 101 soft call for six months; help fund buyout by Digital Colony Partners and the EQT Infrastructure IV fund and refinance existing debt; Boulder, Colo., provider of mission-critical bandwidth to companies.

On The Horizon

CHAMPIONX: Roughly $537 million term loan; Bank of America; fund a cash payment to Ecolab Inc. in connection with sale to Apergy Corp. by Ecolab; upstream energy business.

CINCINNATI BELL INC.: $1.12 billion senior secured credit facilities; BofA Securities, BMO, Citigroup, Scotia, TD Securities and Wells Fargo; $200 million revolver; $920 million term loan; help fund acquisition by Brookfield Infrastructure; Cincinnati-based provider of integrated communications solutions.

CORNERSTONE ONDEMAND INC.: $1.135 billion senior secured credit facilities; Morgan Stanley, Credit Suisse, BofA Securities, Deutsche Bank and Jefferies; $150 million five-year revolver expected at Libor plus 325 bps, 25 bps step-down at first-lien net leverage of 3x and 25 bps step-down at first-lien net leverage of 2.5x, 0% Libor floor; $985 million seven-year covenant-lite first-lien term B expected at Libor plus 350 bps, 25 bps step-down at first-lien net leverage of 2.75x, 0% Libor floor, 101 soft call for six months; help fund acquisition of Saba; Santa Monica, Calif., people development company.

CULLIGAN: $500 million senior secured term loan; Morgan Stanley, Ares, PSP, RBC, BofA Securities, Credit Suisse, BMO and Golub; help fund acquisition of AquaVenture Holdings Ltd.; Rosemont, Ill., provider of sustainable water solutions and services.

ELDORADO RESORTS INC./CAESARS ENTERTAINMENT CORP.: $6.4 billion credit facilities; JPMorgan (left on Eldorado), Credit Suisse (left on Caesars), Macquarie, BofA Securities, Deutsche Bank, Goldman Sachs, SunTrust, U.S. Bank, KeyBanc, Fifth Third and Citizens; $1 billion revolver at Eldorado expected at Libor plus 325 bps, 0% Libor floor; $3 billion seven-year covenant-lite term B at Eldorado expected at Libor plus 350 bps, 0% Libor floor, 101 soft call for six months; $2.4 billion seven-year covenant-lite term B at Caesars Resorts Collection expected at Libor plus 325 bps, 0% Libor floor, 101 soft call for six months; help fund acquisition of Caesars; Reno, Nev., gaming company.

HARSCO CORP.: New debt financing; help fund acquisition of the Stericycle Environmental Solutions business (ESOL) from Stericycle Inc.; Camp Hill, Pa., provider of environmental solutions for industrial and specialty waste streams and innovative technologies for the rail sector.

INSTRUCTURE: $825 million senior secured credit facilities; Golub and Owl Rock; $50 million six-year revolver expected at Libor plus 700 bps, 1% Libor floor; $775 million six-year term loan expected at Libor plus 700 bps, 1% Libor floor, call protection 103, 101.5, 100.75; help fund buyout by Thoma Bravo; Salt Lake City-based provider of products that simplify learning and personal development, facilitate meaningful relationships, and inspire people to go further in their educations and careers.

KNOWLTON DEVELOPMENT CORP. (KDC/ONE): New U.S. and euro debt financing; UBS and Jefferies; help fund acquisition of Zobele Group; Longueuil, Quebec, manufacturer and custom formulator of beauty, personal care and household products.

LOGMEIN INC.: $3.55 billion credit facilities; Barclays, RBC, Deutsche Bank, Jefferies and Mizuho; $250 million revolver; $2.7 billion first-lien term loan; $600 million second-lien term loan; help fund buyout by Francisco Partners and Elliott Management Corp.; Boston-based provider of cloud-based connectivity.

NORTHWEST FIBER LLC: New debt financing; help fund acquisition of Frontier Communications Corp.’s operations and associated assets in Washington, Oregon, Idaho and Montana by WaveDivision Capital LLC and Searchlight Capital Partners LLC.

RSA: $1.425 billion credit facilities; UBS, Jefferies, Barclays and Deutsche Bank; $75 million revolver; $1 billion first-lien term loan; $350 million second-lien term loan; help fund buyout by Symphony Technology Group, Ontario Teachers’ Pension Plan Board and AlpInvest Partners from Dell Technologies; provider of digital risk solutions including threat detection and response, identity and access management, integrated risk management and omnichannel fraud prevention.

SILGAN HOLDINGS INC.: $900 million delayed-draw term loan; fund acquisition of Albea Beauty Holdings SA’s dispensing business; Stamford, Conn., producer of rigid packaging for consumer goods.

SIRVA INC.: New debt financing; Barclays, Deutsche Bank and BofA Securities; help fund acquisition of relocation assets of Cartus from Realogy Holdings Corp.; Oakbrook Terrace, Ill., relocation and moving company.

TECH DATA: New debt financing; Citigroup, JPMorgan, Wells Fargo, Barclays and RBC; help fund buyout by Apollo Global Management Inc.; Clearwater, Fla., distributor of IT products.

T-MOBILE USA INC.: $8 billion senior secured credit facilities; Credit Suisse, Barclays, Deutsche Bank, Goldman Sachs, Morgan Stanley, RBC, BNP Paribas, Commerzbank, Credit Agricole, TD Securities and Wells Fargo; $4 billion five-year revolver expected at Libor plus 125 bps, 0% Libor floor; $4 billion seven-year covenant-lite term loan expected at Libor plus 175 bps, 0% Libor floor, 101 soft call for six months; refinance existing debt in connection with merger with Sprint Corp. and fund working capital needs; Bellevue, Wash., communications services company.

WESCO INTERNATIONAL INC.: $1.2 billion senior secured asset-based revolver; Barclays; help fund acquisition of Anixter International; Pittsburgh-based distributor and provider of supply chain management services to the aerospace industry.

WEX INC.: $1.052 billion seven-year term B expected at Libor plus 250 bps, 101 soft call for six months; BofA Securities, Citizens, MUFG, SunTrust, Wells Fargo, BMO, Santander, KeyBanc, Regions, Deutsche Bank and Fifth Third; help fund acquisition of eNett and Optal; South Portland, Maine, provider of corporate payment solutions.

WHOLE EARTH BRANDS (ACT II GLOBAL ACQUISITION CORP.): $235 million five-year credit facilities; TD Bank; $50 million revolver expected at Libor plus 275 bps; $185 million term A expected at Libor plus 275 bps; help fund formation through acquisition of Merisant Co. and MAFCO Worldwide LLC by Act II from MacAndrews & Forbes Inc.; platform of branded products and ingredients focused on the consumer transition towards Natural alternatives and clean label products.

XPERI CORP.: $1.1 billion seven-year senior secured covenant-lite term B expected at Libor plus 250 bps if corporate ratings are at least Ba3/BB- and Libor plus 275 bps if corporate ratings are lower than Ba3/BB-, 0% Libor floor, 101 soft call for six months; BofA Securities, RBC and Barclays; refinance debt in connection with merger with TiVo Corp.; San Jose, Calif., licenser of technologies and intellectual property.

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