Bank Loan Calendar: $22.0522 billion deals being marketed

September Bank Meetings

AMWINS GROUP INC.: Lender call Sept. 16; $100 million incremental first-lien term B; Goldman Sachs, Barclays, JPMorgan, Morgan Stanley and Wells Fargo; help fund a dividend to shareholders; Charlotte, N.C., specialty insurance broker.

GLOBAL MEDICAL RESPONSE: Lender call Sept. 16; $1.37 billion five-year first-lien term loan (B); KKR and Morgan Stanley; help refinance an existing term B; Greenwood Village, Colo., provider of medical care, primarily in the areas of emergency and patient relocation services.

PCI PHARMA SERVICES (PACKAGING COORDINATORS MIDCO INC.): Bank meeting Sept. 17; $1.345 billion credit facilities; Jefferies, Credit Suisse, Deutsche Bank and Antares; $125 million five-year revolver; $870 million seven-year senior secured first-lien term loan, 101 soft call for six months; $350 million privately placed eight-year senior secured second-lien term loan; help fund buyout by Kohlberg & Co. from Partners Group, Thomas H. Lee Partners and Frazier Healthcare Partners; Philadelphia-based provider of outsourced pharmaceutical services.

VANDER-BEND MANUFACTURING INC.: Lender call Sept. 17; $197.5 million credit facilities; Goldman Sachs; $20 million revolver; $177.5 million first-lien term B; refinance existing debt and fund acquisition of Swiss Precision Machining; San Jose, Calif., provider of prototyping, precision manufacturing and assembly solutions to medical technology OEMs and other high growth, recession-resistant sectors.

Upcoming Closings

AGILITI: $125 million add-on term loan talked at Libor plus 300 bps, 0.75% Libor floor, OID 98 to 98.5; JPMorgan; repay some second-lien term loan borrowings; Minneapolis-based provider of health care technology management and service solutions.

AIMBRIDGE HOSPITALITY: $150 million term B due 2026 talked at Libor plus 600 bps, 0.75% Libor floor, OID 97 to 98; JPMorgan; general corporate purposes; Plano, Texas, hotel management firm.

ALLEGRO MICROSYSTEMS INC.: $325 million seven-year covenant-lite first-lien term loan (B+) talked at Libor plus 450 bps to 475 bps, 0.5% Libor floor, OID 98.5, 101 soft call for six months; Credit Suisse, Barclays, Mizuho and SMBC; refinance a revolver draw and fund a shareholder distribution; Manchester, N.H., provider of magnetic sensor and power integrated circuits.

ASP NAVIGATE ACQUISITION CORP.: $460 million credit facilities; Jefferies, Keybank, Goldman Sachs and ING; $60 million five-year revolver; $400 million seven-year first-lien term loan talked at Libor plus 475 bps to 500 bps, 1% Libor floor, OID 98.5, 101 soft call for six months; help fund American Securities LLC’s buyout of NN Inc.’s Life Sciences division; designer and manufacturer of high-precision components, assemblies, and instruments for the medical and life sciences end market.

AVAYA INC.: $800 million term loan due 2027 talked at Libor plus 425 bps, 0% Libor floor, OID 98, 101 soft call for six months; JPMorgan, BofA Securities, Barclays, Citigroup, Deutsche Bank and Goldman Sachs; extension of existing term loan; Santa Clara, Calif., business communications company.

AVEANNA HEALTHCARE LLC: $185 million incremental first-lien term loan (CCC+) due March 16, 2024 talked at Libor plus 625 bps to 650 bps, 1% Libor floor, OID 97 to 98, 101 soft call; Barclays, BMO and Jefferies; general corporate purposes; Atlanta-based home health care company.

CABLEVISION LIGHTPATH: $600 million seven-year first-lien term B (B1/B+) at Libor plus 325 bps, 0.5% Libor floor, OID 99.5, 101 soft call for six months; Goldman Sachs, RBC, Deutsche Bank and Morgan Stanley; help fund acquisition of 49.99% interest in the company by Morgan Stanley Infrastructure Partners from Altice USA; enterprise-grade fiber connectivity, bandwidth and managed services provider in the New York metropolitan area.

C.J. FOODS INC.: $285 million term B talked at Libor plus 525 bps, 1% Libor floor, OID 97, 101 hard call; Citizens and KeyBanc; back already completed acquisition of American Nutrition Inc.; Kansas-based manufacturer of pet food. American Nutrition is an Ogden, Utah-based supplier of dry, canned and baked pet food and treats products.

CLARIVATE PLC: Expected closing early October; $1.6 billion incremental senior secured covenant-lite term B (B2) due Oct. 31, 2026 talked at Libor plus 300 bps to 325 bps, 1% Libor floor, OID 99, 101 soft call for six months; Citigroup, BofA Securities, RBC, Barclays, HSBC and JPMorgan; help refinance CPA Global debt in connection with merger; Philadelphia-based provider of comprehensive intellectual property and scientific information, decision support tools and services.

CONSOLIDATED COMMUNICATIONS INC.: $1.25 billion senior secured credit facilities (B2/B+); JPMorgan, Morgan Stanley, Goldman Sachs, TD Securities, Wells Fargo and Deutsche Bank; $250 million five-year revolver; $1 billion seven-year term B talked at Libor plus 475 bps, 1% Libor floor, OID 97 to 98, 101 soft call for six months; help refinance existing debt; Mattoon, Ill., broadband and business communications provider.

DELTA AIR LINES SKYMILES: $2.5 billion seven-year senior secured term B (Baa1//BBB) talked at Libor plus 425 bps to 450 bps, 1% Libor floor, OID 98.5, non-call three, 104, 102; Barclays and Goldman Sachs; general corporate purposes and to support liquidity position; Atlanta-based airline company.

ECI SOFTWARE SOLUTIONS: $990 million of term loans; BofA Securities; $710 million first-lien term loan (B2/B-) talked at Libor plus 400 bps to 425 bps, 0.75% Libor floor, OID 98.5 to 99, 101 soft call for six months; $280 million privately placed second-lien term loan (Caa2/CCC); refinance existing term loans, fund an acquisition and finance a dividend; Fort Worth, Texas, provider of cloud-based business management software for multiple industries.

EFS COGEN HOLDINGS I LLC (LINDEN): $1.05 billion senior secured credit facilities; Jefferies, Barclays, Citigroup, MUFG, BMO and Investec; $100 million five-year first-out revolver (Ba2/BB-); $950 million seven-year term loan B (Ba3/BB-) talked at Libor plus 375 bps, 1% Libor floor, OID 99, 101 soft call for six months; refinance existing debt and fund a distribution to the parent; owner of a cogeneration plant located in Linden, N.J.

FORTRESS INVESTMENT GROUP FINCO I LLC: $950 million covenant-lite term B due June 27, 2025 talked at Libor plus 250 bps to 275 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; Deutsche Bank and Mizuho; amend and extend an existing term B; alternative investment management firm.

GCI LLC: $350 million five-year term B (Ba2) talked at Libor plus 275 bps, 0.75% Libor floor, OID 99.5 on new money, 99.75 on existing, 101 soft call for six months; Truist, JPMorgan, Credit Agricole, BofA Securities, Cobank, Credit Suisse, Deutsche Bank, MUFG and TD Securities; refinance existing debt; Anchorage-based telecommunications company.

MAG AEROSPACE (MAG DS CORP.): $290.7 million covenant-lite first-lien term loan (B3/B) due April 2027 talked at Libor plus 525 bps, 1% Libor floor, OID 97, 101 soft call for six months; Citizens, RBC and Regions; support acquisitions of Aaski Technology and Remotely Piloted Solutions LLC, and refinance existing debt; Fairfax, Va., provider of tip-to-tail manned and unmanned aerial intelligence, surveillance and reconnaissance services.

MICHAELS COS. INC.: $1.62 billion seven-year term B (B+) talked at Libor plus 350 bps, 0.75% Libor floor, OID 98.5, 101 soft call for six months; JPMorgan, Wells Fargo, BofA Securities, Truist, Goldman Sachs, Barclays, US Bank, BMO, Fifth Third, Credit Suisse and UBS; refinance existing debt; Irving, Texas, retailer of arts and crafts supplies and home decor products.

OMNITRACS LLC: $355 million of term loans; Barclays (left on first-lien), Credit Suisse (left on second-lien), Macquarie and Guggenheim; $160 million incremental covenant-lite first-lien term loan (B2/B-) due March 2025 talked at Libor plus 425 bps to 450 bps, 0% Libor floor, OID 98.5, 101 soft call for six months; $195 million eight-year covenant-lite second-lien term loan (Caa2/CCC) talked at Libor plus 800 bps to 825 bps, 0% Libor floor, OID 98, call protection 102, 101; help fund acquisition of SmartDrive Systems Inc.; Dallas-based provider of SaaS-based fleet management and data analytics solutions.

PACTIV EVERGREEN (REYNOLDS GROUP HOLDINGS INC.): $1.25 billion covenant-lite first-lien term loan (B+) due February 2026 at Libor plus 325 bps, 0% Libor floor, OID 99.75, 101 soft call for six months; Credit Suisse and HSBC; refinance existing debt; Lake Forest, Ill., manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons.

SUSE (MARCEL LUX IV SARL): $300 million seven-year incremental first-lien term loan (B) talked at Libor plus 400 bps, 0.75% Libor floor, OID 98.5 to 99, 101 soft call for six months; JPMorgan, BofA Securities, Deutsche Bank, Goldman Sachs and Jefferies; help fund acquisition of Rancher Labs; Nuremberg, Germany, provider of open source infrastructure software for large enterprises.

TI GROUP AUTOMOTIVE SYSTEMS LLC: $834 million term loan (B1) talked at Libor plus 375 bps, 0.75% Libor floor, OID 98.5 to 99; JPMorgan, Barclays, BNP Paribas, Citigroup, Deutsche Bank, Goldman Sachs, Mizuho and RBC; also €422 million term loan (B1) talked at Euribor plus 375 bps, 0.75% floor, OID 98 to 98.5; refinance existing debt; Oxford, England, provider of fluid storage, carrying and delivery systems to automotive manufacturers.

UNITEDLEX: $110 million term loan talked at Libor plus 500 bps to 525 bps, 0% Libor floor, OID 97, 101 soft call for six months; Macquarie and BNP Paribas; closed in March to repay existing credit facility, partially repay a shareholder loan, make a payment to the prior sellers and provide cash to the balance sheet; Overland Park, Kan., legal outsourcing services provider.

VIRGIN MEDIA/O2: $1.3 billion covenant-lite term B (Ba3/BB-/BB+) due January 2029 at Libor plus 325 bps, 0% Libor floor, OID 98.5, 101 soft call for six months; JPMorgan, Deutsche Bank, BNP Paribas, BofA Securities, Citigroup, Credit Suisse, Goldman Sachs, HSBC, Mediobanca, Mizuho, Morgan Stanley, MUFG, Natixis and Scotia; also €750 million covenant-lite term B due January 2029 at Euribor plus 325 bps, 0% floor, OID 99, 101 soft call for six months; pound sterling term A; general corporate purposes, including payment of any distributions at closing of the joint venture formed through combination of Virgin Media and O2; England-based broadband provider and mobile platform.

VISTRA: $590 million equivalent of term loans; Goldman Sachs, HSBC, Citigroup, Deutsche Bank, BNP Paribas and Morgan Stanley; $28 million equivalent U.S. and/or euro incremental first-lien term B due October 2025 talked at Libor/Euribor plus 375 bps to 400 bps, 1% Libor floor on U.S., 0% floor on euro, OID 99, 101 soft call for six months; $562 million amended and extended first-lien term B due October 2025 talked at Libor plus 375 bps to 400 bps, 1% Libor floor, OID 99, 101 soft call for six months; also €411 million amended and extended first-lien term B due October 2025 talked at Euribor plus 375 bps to 400 bps, 0% floor, OID 99, 101 soft call for six months; incremental to help repay second-lien term loans; corporate and trust services company.

WABASH NATIONAL CORP.: $150 million seven-year covenant-lite term B (Ba3/BB-) talked at Libor plus 350 bps to 375 bps, 1% Libor floor, OID 99, 101 soft call for six months; Wells Fargo and JPMorgan; refinance existing term B and general corporate purposes; Lafayette, Ind., manufacturer of commercial trailer products.

WAYSTAR (NAVICURE): $620 million incremental first-lien term B (B2/B-/B+) due October 2026 at Libor plus 400 bps, 0.75% Libor floor, OID 99.75, 101 soft call for six months; JPMorgan; fund the acquisition of eSolutions; provider of healthcare payments software.

On The Horizon

ADTALEM: New credit facilities; Morgan Stanley; $400 million revolver; first-lien term B; help fund acquisition of Walden University from Laureate Education Inc.; Chicago-based workforce solutions provider.

ADVANTAGE SALES & MARKETING INC.: $2.5 billion senior secured credit facilities; BofA Securities, Morgan Stanley and Deutsche Bank; $400 million asset-based revolver; $2.1 billion term loan; refinance existing debt in connection with acquisition by Conyers Park II Acquisition Corp.; Irvine, Calif., provider of outsourced sales and marketing services to consumer goods manufacturers and retailers.

ANCESTRY: New debt financing; Credit Suisse and BofA Securities; help fund buyout by Blackstone from Silver Lake, GIC, Spectrum Equity, Permira and other equity holders; Lehi, Utah, provider of digital family history services and consumer genomics.

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.

MAJESCO: New debt financing; help fund buyout by Thoma Bravo LP; Morristown, Pa., provider of cloud insurance software solutions.

VIRTUSA CORP.: New debt financing; BofA Securities; help fund buyout by Baring Private Equity Asia; Southborough, Mass., provider of digital strategy, digital engineering, and IT services and solutions that help clients change and disrupt markets.

WHITE CAP: New debt financing; Deutsche Bank, RBC, Jefferies, BNP Paribas and Credit Suisse; help fund buyout by Clayton, Dubilier & Rice from HD Supply Holdings Inc. and combination with Construction Supply Group; distributor of concrete accessories, and specialty construction and safety products.

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