Bank Loan Calendar: $16.925 billion deals being marketed

Upcoming Closings

AVI-SPL: $370 million term B talked at Libor plus 525 bps, 1% Libor floor, OID 94 area, 101 soft call; BofA Securities, Barclays, Guggenheim, KKR and Macquarie; fund already completed merger with Whitlock; Tampa, Fla., digital workplace services provider.

BLUCORA INC.: $175 million add-on senior secured term loan (BB) due 2024 talked at Libor plus 400 bps to 425 bps, 1% Libor floor, OID 97, 101 soft call for six months; JPMorgan; fund acquisition of HK Financial Services and for additional working capital; Irving, Tex., provider of tax-smart financial solutions.

CAESARS RESORT COLLECTION LLC: $1.47 billion five-year covenant-lite first-lien term loan (B1) talked at Libor plus 450 bps, 0% Libor floor, OID 96, 101 soft call for six months; Credit Suisse, JPMorgan, Macquarie, BofA Securities, Deutsche Bank, Goldman Sachs, SunTrust, U.S. Bank and Citizens; help fund the acquisition of Caesars Entertainment Corp. by Eldorado Resorts Inc.; Las Vegas-based gaming and entertainment company.

CARDTRONICS PLC: $500 million seven-year covenant-lite term B (Ba2/BB+) talked at Libor plus 400 bps, 1% Libor floor, OID 97 to 98, 101 soft call; JPMorgan; refinance existing debt; Houston-based ATM owner and operator.

CARROLS RESTAURANT GROUP INC.: $50 million incremental covenant-lite term B (B3/B-) due April 30, 2026 talked at Libor plus 600 bps to 625 bps, 1% Libor floor, OID 95 to 96, non-call one; Wells Fargo; repay revolver borrowings and bolster liquidity; Syracuse, N.Y., restaurant franchisee and operator.

DIVERSEY (DIAMOND BC BV): $135 million incremental covenant-lite first-lien term loan (B1/CCC+) due September 2024 talked at Libor plus 550 bps, 1% Libor floor, OID 96, 101 soft call; Credit Suisse and Jefferies; repay revolver borrowings; Fort Mill, S.C., hygiene and cleaning solutions company.

LUMMUS TECHNOLOGY (ILLUMINATE BUYER LLC): $1.375 billion credit facilities (B1/B+); Credit Suisse, Macquarie, RBC, Societe Generale, UBS and SunTrust; $175 million revolver; $150 million letter of credit facility; $1.05 billion seven-year covenant-lite first-lien term loan at Libor plus 400 bps, 0% Libor floor, OID 97.5, 101 soft call for six months; help fund acquisition by the Chatterjee Group and Rhône Capital from McDermott International Inc.; developer and licensor of mission essential technologies for the refining and petrochemical industries, and a supplier of catalysts and proprietary equipment.

MOHEGAN TRIBAL GAMING AUTHORITY: $100 million first-lien term loan (Caa1) due October 2021 talked at Libor plus 1,200 bps, 1% Libor floor, OID 97, non-call nine months, then 50% of the coupon for three months, then at 25% of the coupon for three months; Credit Suisse and Citizens; refinance revolver borrowings and general corporate purposes; Uncasville, Conn., operator of gaming and entertainment enterprises.

NEENAH INC.: $200 million seven-year covenant-lite term B (Ba3/BBB-) talked at Libor plus 425 bps to 450 bps, 1% Libor floor, OID 97 to 98, 101 soft call; JPMorgan, BofA Securities, BMO, Commerzbank and Goldman Sachs; refinance notes; Alpharetta, Ga., specialty materials company.

ONEDIGITAL: $100 million of term loan debt (B); Golub; $75 million incremental first-lien term loan talked at Libor plus 475 bps, 1% Libor floor, OID 97 to 98, 101 soft call; $25 million privately placed first-lien delayed-draw term loan; fund upcoming acquisitions; Atlanta-based employee benefits insurance broker.

PATHWAY VET ALLIANCE LLC: $1.28 billion credit facilities; Jefferies, BofA Securities, Ares, Golub and Nomura; $80 million revolver due March 2025; $945 million senior secured first-lien term loan (including $77 million delayed-draw piece) (B3/B) due March 2027 talked at Libor plus 400 bps to 425 bps, 0% Libor floor, OID 97, 101 soft call six months; $255 million privately placed senior secured second-lien term loan due March 2028; fund recently completed acquisition by TSG Consumer Partners from Morgan Stanley Capital Partners; veterinary management group.

PG&E CORP.: $1 billion five-year senior secured term loan B talked at Libor plus 450 bps to 475 bps, 1% Libor floor, OID 98; JPMorgan, BofA Securities, Barclays, Citigroup and Goldman Sachs; help fund bankruptcy exit; San Francisco-based electric and natural gas utility.

RSA: $1.425 billion credit facilities; UBS, Jefferies, Barclays and Deutsche Bank; $75 million revolver (B1); $1.05 billion seven-year covenant-lite first-lien term loan (B1) talked at Libor plus 500 bps, 1% Libor floor, OID 97 to 98, 101 soft call; $300 million pre-placed second-lien term loan (Caa1); 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.

TECH DATA: $5 billion of five-year ABL credit facilities; Citigroup (left on term loan), JPMorgan (left on FILO), Wells Fargo, Barclays, RBC, Credit Suisse, MUFG, Mizuho, Goldman Sachs, Deutsche Bank, BNP Paribas, Nomura and PNC; $3 billion ABL revolver (Ba1/BBB-/BBB-) talked at Libor plus 125 bps to 175 bps based on availability; $1.5 billion covenant-lite ABL term loan (Ba1/BBB-/BBB-) talked at Libor plus 350 bps, 0% Libor floor, OID 97 to 98, 101 soft call for six months; $500 million covenant-lite FILO ABL term loan (Ba2/BBB-/BBB-) talked at Libor plus 550 bps, 0% Libor floor, OID 96 to 97, 101 soft call for one year; help fund buyout by Apollo Global Management Inc.; Clearwater, Fla., distributor of IT products.

ULTIMATE SOFTWARE GROUP INC.: Expected closing July 1; $3.545 billion of term loans; Credit Suisse (left on first-lien) and Nomura (left on second-lien); $2.945 billion incremental covenant-lite first-lien term B (B1/B) due May 2026 at Libor plus 400 bps, step-down to Libor plus 375 bps at 5.5x total net leverage, 0.75% Libor floor, OID 98.5, 101 soft call for six months; $600 million covenant-lite second-lien term loan (Caa1/CCC) due May 2027 at Libor plus 675 bps, 0.75% Libor floor, OID 99, call protection 102, 101; refinance debt at Kronos Inc.; Weston, Fla. and Lowell, Mass.-based provider of cloud human capital management and employee experience solutions.

VENTIA FINCO PTY LTD.: Expected closing June 30; $200 million incremental senior secured term loan due May 21, 2026 at Libor plus 400 bps, 1% Libor floor, OID 97.5, 101 soft call; Barclays, Citigroup, Credit Suisse, JPMorgan and UBS; also A$185 million incremental senior secured term loan due May 21, 2026 at BBSY plus 550 bps, 0% floor, OID 97, 101 soft call; fund acquisition of Broadspectrum; provider of industrial and civil services to clients in Australia and New Zealand.

On The Horizon

CINCINNATI BELL INC.: $1.6 billion senior secured credit facilities; Goldman Sachs, Regions Capital and Societe Generale; $250 million revolver; $1.35 billion of term loans; help fund acquisition by Macquarie Infrastructure Partners; Cincinnati-based provider of integrated communications solutions.

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.

MILANO ACQUISITION CORP. (U.S. STATE AND LOCAL HEALTH AND HUMAN SERVICES): New debt financing; JPMorgan; help fund buyout by Veritas Capital from DXC Technology; end-to-end provider of technology enabled, mission critical solutions that are fundamental to the administration and operations of health programs.

UNITED AIRLINES INC. (MILEAGE PLUS): Up to $5 billion seven-year senior secured term loan; Goldman Sachs, Barclays and Morgan Stanley; bolster liquidity; Chicago-based airline company.

WESCO INTERNATIONAL INC.: $1.1 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.

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.

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