Bank Loan Calendar: $23.2885 billion deals being marketed

October Bank Meetings

MEGA BROADBAND INVESTMENTS HOLDINGS LLC: Lender call Oct. 8; $725 million senior secured credit facilities; Truist, Credit Suisse, TD Securities and Citizens; $75 million five-year revolver; $650 million seven-year term B; refinance existing debt and fund a distribution to existing shareholders; broadband provider.

ROUGH COUNTRY: Lender call Oct. 7; add-on first-lien term loan; Golub; Dyersburg, Tenn., supplier of aftermarket suspension lift kits and components to the off-road SUV and light truck enthusiast market.

Upcoming Closings

AHEAD DB HOLDINGS: $1.135 billion credit facilities; RBC, Deutsche Bank, Barclays, KKR, Macquarie, Truist, Regions and TD Securities; $115 million revolver (B1); $785 million seven-year first-lien term loan (B1) talked at Libor plus 450 bps, 1% Libor floor, OID 98.5, 101 soft call for six months; $235 million privately placed second-lien term loan (Caa1); help fund buyout by Centerbridge Partners LP from Court Square Capital Partners; Chicago-based IT solution provider of enterprise hardware and software.

ALLIANT HOLDINGS INTERMEDIATE LLC: $825 million senior secured credit facilities (B2/B); Morgan Stanley, JPMorgan, Truist, BofA Securities, Capital One, Goldman Sachs, RBC, Fifth Third, KKR and Macquarie; $400 million five-year revolver; $425 million seven-year covenant-lite term B-3 talked at Libor plus 375 bps, 0.5% Libor floor, OID 99, 101 soft call; help make a special distribution and complete acquisitions under letters of intent; Newport Beach, Calif., specialty insurance brokerage firm.

AMERICAN RESIDENTIAL SERVICES: $470 million first-lien term B (B1/B) talked at Libor plus 375 bps to 400 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; JPMorgan, Jefferies, KKR and Ares; help fund acquisition of a majority stake by GI Partners; Memphis, Tenn., provider of residential heating, ventilation, air conditioning and plumbing services.

ARRAY TECHNOLOGIES: $575 million seven-year first-lien term B (B1/B+) talked at Libor plus 375 bps to 400 bps, 0.5% Libor floor, OID 98.5, 101 soft call for six months; Goldman Sachs, Barclays, Nomura, MUFG, Credit Suisse, Guggenheim and UBS; fund a dividend; Albuquerque, N.M., manufacturer of ground-mounting systems used in solar energy projects.

BALDWIN RISK PARTNERS LLC (BRP GROUP INC.): $800 million senior secured credit facilities (B2/B); JPMorgan; $400 million revolver due 2025; $400 million first-lien term B due 2027 talked at Libor plus 400 bps to 425 bps, 0.75% Libor floor, OID 98.5; refinance existing revolver and general corporate purposes; Tampa, Fla., insurance distribution firm.

BUMBLE (BUZZ FINCO LLC): $200 million senior secured incremental covenant-lite term B (//BB) due Jan. 29, 2027 talked at Libor plus 325 bps to 350 bps, 0.5% Libor floor, OID 99 to 99.5, 101 soft call for six months; Citigroup, Barclays, HSBC, RBC, SMBC and Blackstone; help fund a distribution to shareholders; provider of online dating and social networking services.

CAMBIUM LEARNING GROUP: $575 million of term loans; RBC, Deutsche Bank, KKR, Macquarie, Barclays and BMO; $425 million incremental first-lien term loan due December 2025 talked at Libor plus 450 bps, 0% Libor floor, OID 98, 101 soft call for six months; $150 million incremental second-lien term loan due December 2026 talked at Libor plus 850 bps, 1% Libor floor, OID 97, hard call 102, 101; help fund the acquisition of Rosetta Stone Inc.; Dallas-based education technology platform.

C.H.I. OVERHEAD DOORS INC.: $415.5 million extended term loan due July 2025 talked at Libor plus 375 bps, 1% Libor floor, OID 99.5 to 99.75 for new money, 25 bps to 50 bps amendment fee for existing lenders, 101 soft call for six months; UBS and KKR; amendment and extension; Arthur, Ill., manufacturer and marketer of overhead garage doors.

FLY LEASING LTD.: $180 million five-year senior secured term B (Ba3/BBB-) talked at Libor plus 525 bps to 550 bps, 1% Libor floor, OID 96 to 97, non-call one; RBC; general corporate purposes and to potentially repay notes; Dublin-based aircraft lessor.

GENESYS: $3.35 billion equivalent of term loans (B3/B-); BofA Securities, Goldman Sachs, Citigroup, RBC, Wells Fargo and Credit Suisse; $2.825 billion seven-year term B talked at Libor plus 400 bps to 425 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; $525 million euro equivalent seven-year term B talked at Euribor plus 400 bps to 425 bps, 0% floor, OID 98, 101 soft call for six months; refinance existing debt and fund a dividend; Daly City, Calif., provider of omnichannel customer experience and contact center solutions.

GOLDEN STATE MEDICAL SUPPLY: $120 million add-on first-lien due June 2026 talked at Libor plus 475 bps, 0% Libor floor, OID 99; Truist; fund a dividend; Camarillo, Calif., generic pharmaceutical supplier.

HARBOR FREIGHT TOOLS USA INC.: $3 billion seven-year covenant-lite first-lien term loan (Ba3/BB-) talked at Libor plus 325 bps to 350 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; Credit Suisse; refinance existing debt and fund a dividend; Camarillo, Calif., retailer of tools and equipment.

HELP AT HOME LLC (HAH GROUP HOLDING CO. LLC): $819 million credit facilities; Jefferies, Barclays, BMO and UBS; $74 million five-year revolver (B1); $515 million seven-year first-lien term loan (B1) talked at Libor plus 475 bps to 500 bps, 1% Libor floor, OID 98.5, 101 soft call for six months; $65 million first-lien delayed-draw term loan (B1) talked at Libor plus 475 bps to 500 bps, 1% Libor floor, OID 98.5; $165 million privately placed eight-year second-lien term loan (Caa1); help fund buyout by Centerbridge Partners and The Vistria Group; Chicago-based provider of home care and support.

HIGHTOWER HOLDING LLC: $185 million of term loans; Antares; $130 million incremental first-lien term loan due Jan. 31, 2025 talked at Libor plus 500 bps, 1% Libor floor, OID 98.5, 101 soft call for six months; $20 million incremental first-lien delayed-draw term loan talked at Libor plus 500 bps, 1% Libor floor, OID 98.5; $35 million incremental second-lien term loan; fund acquisitions; Chicago-based registered investment advisor.

INFOBLOX INC.: $1.945 billion senior secured credit facilities; Morgan Stanley, Credit Suisse, Barclays, Deutsche Bank, Goldman Sachs, BofA Securities, Jefferies, Macquarie, UBS and Mizuho; $200 million revolver (B2/B-/B-); $1.29 billion seven-year covenant-lite first-lien term B (B2/B-/B-) talked at Libor plus 400 bps, 0.75% Libor floor, OID 99 to 99.5, 101 soft call for six months; $455 million eight-year covenant-lite second-lien term loan (Caa2/CCC/CCC) talked at Libor plus 775 bps, 0.75% Libor floor, OID 98.5 to 99, hard call 102, 101; fund the acquisition of a 50% equity stake in the company by Warburg Pincus and refinance existing debt; Santa Clara, Calif., provider of core networking and cybersecurity solutions.

MARAVAI LIFESCIENCES: $750 million senior secured credit facilities (B3/B-); Morgan Stanley, Goldman Sachs, Jefferies and Antares; $150 million five-year revolver; $600 million seven-year covenant-lite first-lien term B talked at Libor plus 450 bps, 25 bps step-down at 4.5x net first-lien leverage, 1% Libor floor, OID 99, 101 soft call for six months; refinance existing debt, fund the repurchase of an existing Cygus minority interest and fund a distribution to shareholders; San Diego-based provider of life science reagents and services to researchers and biotech innovators.

OXBOW CARBON: $400 million five-year term B (B1/BB-) talked at Libor plus 425 bps to 450 bps, 0.75% Libor floor, OID 98.5, 101 soft call; BofA Securities, JPMorgan, Rabobank, Truist, Capital One and Citizens; refinance existing debt; West Palm Beach, Fla., recycler of refinery and natural gas byproducts.

PAE HOLDING CORP.: $890 million seven-year term B (including $150 million delayed-draw tranche) (B2/B) talked at Libor plus 450 bps, 0.75% Libor floor, OID 98.5; BofA Securities, Citizens, Truist, Morgan Stanley and Stifel; refinance existing debt and acquisition financing; Falls Church, Va., provider of support services for the U.S. government, its allied partners and international organizations.

PROMONTORY INTERFINANCIAL NETWORK LLC (NEXUS BUYER LLC): $340 million incremental covenant-lite first-lien term loan (B2/B-) due November 2026 talked at Libor plus 375 bps, 0% Libor floor, OID 98.75 area; Nomura, Morgan Stanley, RBC, UBS and Blackstone; repay a portion of second-lien term loan and fund a distribution to shareholders; Arlington, Va., financial technology solutions provider offering deposit placement and funding services to financial institutions.

QUIRCH FOODS LLC: $675 million credit facilities; RBC; $475 million seven-year senior secured first-lien term B (B3/B) talked at Libor plus 525 bps to 550 bps, 1% Libor floor, OID 98, 101 soft call for six months; $200 million ABL revolver; help fund acquisition of Colorado Boxed Beef Co. from Altamont Capital Partners; Coral Gables, Fla., specialty protein supplier.

REVINT SOLUTIONS: $705 million credit facilities (B3/B-); Goldman Sachs, Deutsche Bank, Jefferies, Barclays and KeyBanc; $75 million revolver; $630 million seven-year term B talked at Libor plus 425 bps, 0.75% Libor floor, OID 98.5, 101 soft call for six months; fund the acquisition of and merger with Triage Consulting Group and refinance existing Revint debt; Plano, Texas, provider of revenue integrity and recovery services to hospitals and health systems.

TEGRA118 WEALTH SOLUTIONS INC.: $20 million incremental covenant-lite first-lien term B due Feb. 18, 2027 talked at Libor plus 475 bps, 0% Libor floor, OID 98.75 to 99; Deutsche Bank; repay revolver borrowings; Warren, N.J., provider of financial services.

UNITEDLEX: $110 million term loan at Libor plus 575 bps, 0% Libor floor, OID 97, 101 soft call; 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.

VANDER-BEND MANUFACTURING INC.: $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.

WCG PURCHASER CORP.: $150 million incremental first-lien term loan due Jan. 8, 2027 at Libor plus 400 bps, 1% Libor floor, OID 98.6, 101 soft call through January 2021; Barclays; fund tuck-in mergers and acquisitions and general corporate purposes; Princeton, N.J., provider of clinical trial optimization solutions.

WHEELABRATOR TECHNOLOGIES INC. (GRANITE ACQUISITION INC.): $1.3965 billion term B (including $72.5 million incremental, $1.324 billion extended) due Sept. 19, 2022 talked at Libor plus 375 bps, 1% Libor floor, OID 99.5 on incremental; Deutsche Bank, Barclays, Citizens, Credit Suisse, JPMorgan and RBC; amendment and extension; Portsmouth, N.H., owner and operator of waste-to-energy facilities and independent power-producing facilities.

WHITE CAP (APPLECARAMEL BUYER LLC): $2.335 billion seven-year covenant-lite first-lien term B (B2/B) talked at Libor plus 400 bps to 425 bps, 0.5% Libor floor, OID 99, 101 soft call for six months; Deutsche Bank, RBC, Jefferies, BNP Paribas, Credit Suisse, Goldman Sachs, Mizuho and Nomura; 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.

On The Horizon

1-800 CONTACTS INC.: New term loans; Morgan Stanley (left on first-lien), KKR (left on second-lien) and Jefferies; first-lien term loan; second-lien term loan; help fund buyout by KKR from AEA Investors; Draper, Utah, seller of contact lenses.

ADTALEM: $1.4 billion senior secured credit facilities; Morgan Stanley, Barclays, Credit Suisse and MUFG; $400 million five-year revolver expected at Libor plus 375 bps, two 25 bps step-downs based on first-lien net leverage, 0% Libor floor; $1 billion seven-year covenant-lite first-lien term B expected at Libor plus 400 bps, two 25 bps step-downs based on first-lien net leverage, 0.5% Libor floor, 101 soft call for six months; help fund acquisition of Walden University from Laureate Education Inc. and refinance Adtalem’s existing credit agreement; 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.

COVIS GROUP SARL: $515 million of incremental bank debt; $460 million of incremental senior secured term loans; $55 million incremental revolver; help fund acquisition of AMAG Pharmaceuticals Inc.; Luxembourg-based specialty pharmaceutical company.

GARRETT MOTION INC.: New exit financing; Citigroup, UBS, Credit Suisse and BNP Paribas; help fund acquisition by KPS Capital Partners LP through Chapter 11; Rolle, Switzerland, provider of passenger vehicle, commercial vehicle, aftermarket replacement and performance enhancement solutions.

PARTS AUTHORITY: New credit facilities; Jefferies and Golub; ABL revolver; first-lien term loan; privately placed second-lien term loan; help fund buyout by Kohlberg & Co. LLC from The Jordan Co.; Lake Success, N.Y., automotive aftermarket replacement parts distribution platform.

SELECT REHABILITATION: New debt financing; Truist, BBVA and Fifth Third; fund acquisition of Kindred Healthcare LLC’s RehabCare business line; Glenview, Ill., provider of contract rehabilitation services.

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.

© 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.