Bank Loan Calendar: $27.7972 billion deals being marketed

October Bank Meetings

ALBANY MOLECULAR RESEARCH INC.: Lender call Oct. 19; $210 million incremental first-lien term loan due Aug. 30, 2024, 101 soft call for six months; Barclays; refinance existing second-lien term loan; Albany, N.Y., contract research and manufacturing organization that works with the life sciences industry to improve patient outcomes and the quality of life.

E2OPEN: Lender call Oct. 20; $600 million credit facilities; Goldman Sachs, Credit Suisse and Golub; $75 million revolver; $525 million first-lien term B; help refinance existing debt, distribute cash to existing shareholders and place cash on the balance sheet for working capital in connection with combination with CC Neuberger Principal Holdings I; Austin, Texas, network-based provider of cloud-based, end-to-end supply chain management software.

LES SCHWAB TIRE CENTERS: Lender call Oct. 19; $1.5 billion term B; JPMorgan; help fund acquisition by Meritage Group; Bend, Ore., tire retail chain.

MULTIPLAN INC. (MPH ACQUISITION HOLDINGS LLC): Lender call Oct. 19; $2.47 billion seven-year senior secured term B, 101 soft call for six months; Barclays, Citigroup, Goldman Sachs, BofA Securities, Credit Suisse, Deutsche Bank and UBS; help refinance term G and senior notes; New York-based provider of health care cost management solutions.

PRETIUM PACKAGING (PRETIUM PKG HOLDINGS INC.): Lender call Oct. 19; $700 million of term loans; Credit Suisse and KKR; $530 million seven-year covenant-lite first-lien term loan (B), 101 soft call for six months; $170 million eight-year covenant-lite second-lien term loan (CCC+), call protection 102, 101; refinance existing debt and fund a shareholder distribution; Chesterfield, Mo., designer and manufacturer of rigid plastic packaging solutions for specialized applications.

Upcoming Closings

1-800 CONTACTS INC. (CNT HOLDINGS I CORP.): Expected closing late October; $1.405 billion senior secured credit facilities; Morgan Stanley (left on first-lien), KKR (left on second-lien), Jefferies, UBS, Barclays, Credit Suisse, Societe Generale, Mizuho and MUFG; $110 million five-year revolver (B2/B); $980 million seven-year covenant-lite first-lien term B (B2/B) at Libor plus 375 bps, 25 bps step-down was added at 5x net first-lien leverage, 0.75% Libor floor, OID 99.5, 101 soft call for six months; $315 million eight-year covenant-lite second-lien term loan (Caa2/CCC+) at Libor plus 675 bps, 0.75% Libor floor, OID 99.5, hard call 102, 101; help fund buyout by KKR from AEA Investors; Draper, Utah, seller of contact lenses.

ADEVINTA: $500 million (€426 million equivalent) term B (Ba3/BB-/BB+) talked at Libor plus 325 bps to 350 bps, 0.75% Libor floor, OID 98.5, 101 soft call for six months; Barclays, Citigroup, BNP Paribas, DNB, JPMorgan, BofA Securities and ING; also €900 million term B (Ba3/BB-/BB+) talked at Euribor plus 350 bps to 375 bps, 0% floor, OID 98.5, 101 soft call for six months; help refinance existing debt and fund the acquisition of eBay Classifieds Group from eBay Inc.; Oslo, Norway, online classifieds company.

ADVANTAGE SALES & MARKETING INC.: $2 billion senior secured credit facilities; BofA Securities, Morgan Stanley, Deutsche Bank and Apollo; $400 million five-year asset-based revolver at Libor plus 225 bps, 0.5% Libor floor; $1.6 billion seven-year covenant-lite first-lien term loan (B) talked at Libor plus 450 bps, 0.75% Libor floor, OID 98.5, 101 soft call for six months; help 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.

API GROUP INC.: Expected closing Oct. 22; $250 million incremental senior secured covenant-lite term loan B (Ba3/BB-) due October 2026 at Libor plus 275 bps, 0% Libor floor, OID 98.5, 101 soft call for six months; Citigroup, U.S. Bank, Barclays, BofA Securities and UBS; replenish balance sheet cash; New Brighton, Minn., business services provider of safety, specialty and industrial services.

ASCEND LEARNING LLC: $350 million incremental first-lien term loan (B1/B-) due July 2024 at Libor plus 375 bps, 1% Libor floor, OID 99, 101 soft call for six months; Barclays, BofA Securities, Deutsche Bank, Morgan Stanley and RBC; fund a dividend and general corporate purposes; provider of educational content, software and analytics solutions.

BARRACUDA NETWORKS: $571 million of term loans; Goldman Sachs, Credit Suisse, UBS and Stone Point; $206 million add-on first-lien term B (B2) due February 2025 talked at Libor plus 375 bps to 400 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; $365 million eight-year second-lien term loan (Caa2) talked at Libor plus 750 bps to 775 bps, 0.75% Libor floor, OID 98.5, hard call 102, 101; fund a dividend and add cash to balance sheet for potential future acquisitions; Campbell, Calif., provider of security and data protection solutions.

CHOBANI LLC: $500 million seven-year first-lien term loan (B-) talked at Libor plus 350 bps to 375 bps, 1% Libor floor, OID 99, 101 soft call for six months; BofA Securities JPMorgan, TD Securities and KeyBanc; help refinance existing debt; Norwich, N.Y., producer of Greek yogurt.

CURIUM BIDCO SARL: $590 million of term loans; JPMorgan, Barclays, Deutsche Bank and Nomura; $265 million seven-year covenant-lite first-lien term B (B2/B/B+) talked at Libor plus 400 bps to 425 bps, 25 bps step-down at 3.5x first-lien net leverage, 0.75% Libor floor, OID 99, 101 soft call for six months; $325 million eight-year covenant-lite second-lien term loan (Caa2/CCC+/CCC+) talked at Libor plus 775 bps to 800 bps 0.75% Libor floor, OID 98 to 98.5, call protection 102, 101; help fund acquisition by CapVest Fund IV and third-party investors from CapVest Fund III; nuclear medicine company based in London and Paris.

FILTRATION GROUP: Expected closing Oct. 19 week; $400 million incremental first-lien term B (B3/B) due March 29, 2025 at Libor plus 375 bps, 25 bps step-down at 0.5x inside closing date total net leverage, 0.75% Libor floor, OID 99.5, 101 soft call for six months; Goldman Sachs and JPMorgan; fund a dividend recapitalization; provider of filtration solutions.

HELP AT HOME LLC (HAH GROUP HOLDING CO. LLC): $819 million credit facilities; Jefferies, Barclays, BMO and UBS; $74 million five-year revolver (B1/B-); $515 million seven-year first-lien term loan (B1/B-) 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/B-) 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/CCC); help fund buyout by Centerbridge Partners and The Vistria Group; Chicago-based provider of home care and support.

HYPERION INSURANCE GROUP LTD.: $625 million incremental senior secured covenant-lite first-lien term B (B2/B) talked at Libor plus 375 bps to 400 bps, 1% Libor floor, OID 99, 101 soft call for six months; Morgan Stanley, RBC, Barclays, HSBC, Lloyds and Julius Baer; fund the acquisition of A-Plan Group, repay revolver borrowings and fund the locked box account; London-based insurance intermediary group.

MARAVAI LIFESCIENCES: Expected closing early Oct. 19 week; $780 million senior secured credit facilities (B3/B-); Morgan Stanley, Goldman Sachs, Jefferies and Antares; $180 million five-year revolver; $600 million seven-year covenant-lite first-lien term B at Libor plus 425 bps, 25 bps step-down at B2/B corporate family ratings and 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.

MEGA BROADBAND INVESTMENTS HOLDINGS LLC: $725 million senior secured credit facilities (B2/B+); Truist, Credit Suisse, TD Securities and Citizens; $75 million five-year revolver; $650 million seven-year term B at Libor plus 300 bps, step-down to Libor plus 275 bps when leverage is 4.75x, 0.75% Libor floor, OID 99, 101 soft call for six months; refinance existing debt and fund a distribution to existing shareholders; broadband provider.

NORTHSTAR GROUP SERVICES INC.: $555 million first-lien term loan (B2/B) talked at Libor plus 475 bps to 500 bps, 1% Libor floor, OID 99, 101 soft call for six months; Macquarie; refinance existing debt and fund a dividend; New York-based provider of specialized environmental and technical services to government and commercial facility owners in need of operational, decommissioning and remediation services.

PARTS AUTHORITY (PAI HOLDCO INC.): $925 million credit facilities; Jefferies and Golub; $125 million five-year ABL revolver; $600 million seven-year senior secured first-lien term loan (B1) talked at Libor plus 425 bps, 1% Libor floor, OID 98.5 to 99, 101 soft call for six months; $200 million privately placed eight-year senior secured 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.

PROAMPAC: $1.54 billion credit facilities; Antares, JPMorgan and Goldman Sachs; roughly $1.465 billion five-year first-lien term loan (including roughly $114 million incremental) talked at Libor plus 350 bps, 1% Libor floor, OID 99.5 on incremental, 50 bps extension fee, 101 soft call for six months; $75 million incremental revolver; extend existing first-lien term loan, help refinance existing second-lien term loan, fund a planned acquisition and repay revolver drawings; Cincinnati-based supplier of flexible packaging products.

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.

ROUGH COUNTRY: $401.2 million first-lien term loan (B) due May 25, 2025 talked at Libor plus 375 bps, 1% Libor floor, OID 99, 101 soft call for six months; Golub; help fund a dividend and extend existing term loan; Dyersburg, Tenn., supplier of aftermarket suspension lift kits and components to the off-road SUV and light truck enthusiast market.

RUSSELL INVESTMENT MANAGEMENT LLC: $996 million senior secured first-lien term loan due May 30, 2025 talked at Libor plus 300 bps to 325 bps, 1% Libor floor, OID/extension fee 99.5/50 bps, 101 soft call for six months; Barclays; amendment and extension; Seattle-based asset manager.

SERVICE LOGIC ACQUISITION INC. (SABER MERGER SUB INC.): $670 million of first-lien term loans (B2/B); JPMorgan; $520 million seven-year first-lien term loan talked at Libor plus 400 bps, 25 bps step-down at 0.5x inside closing first-lien net leverage, 0.75% Libor floor, OID 99, 101 soft call for six months; $150 million delayed-draw first-lien term loan talked at Libor plus 400 bps, 25 bps step-down at 0.5x inside closing first-lien net leverage, 0.75% Libor floor, OID 99; help fund buyout by Leonard Green & Partners LP; Charlotte, N.C., provider of aftermarket maintenance, repair, and replacement services for commercial HVAC equipment, chilled water systems, and building automation and controls systems.

SOVOS BRANDS INTERMEDIATE INC.: $380 million seven-year covenant-lite first-lien term loan (B3/B) talked at Libor plus 425 bps to 450 bps, 0% Libor floor, OID 99, 101 soft call for six months; Credit Suisse; refinance existing debt and fund acquisition of Birch Benders LLC; Berkeley, Calif., food company.

TEAM SERVICES GROUP: $400 million credit facilities; Credit Suisse and Jefferies; $30 million revolver (B2/B-); $285 million seven-year covenant-lite first-lien term loan (B2/B-) talked at Libor plus 500 bps, 1% Libor floor, OID 98.5, 101 soft call for six months; $85 million eight-year covenant-lite second-lien term loan (Caa2/CCC) talked at Libor plus 900 bps, 1% Libor floor, OID 98, call protection 102, 101; fund acquisition by Alpine Investors and co-investors; provider of employment administration and risk management solutions that facilitate self-directed home care.

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.

VERACODE (VALKYR PURCHASER LLC): $300 million seven-year first-lien term B (//BB+) talked at Libor plus 400 bps to 425 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; Barclays and Deutsche Bank; refinance existing borrowings; Burlington, Mass., provider of SaaS based application security testing solutions.

VEREGY: $342.5 million credit facilities; UBS and BNP Paribas; $42.5 million revolver; $250 million seven-year covenant-lite first-lien term loan talked at Libor plus 575 bps, 1% Libor floor, OID 98 to 98.5, 101 soft call for six months; $50 million delayed-draw term loan; help fund buyout by Court Square Capital; Phoenix-based provider of energy efficiency solutions, solar and smart building technology.

WCG PURCHASER CORP.: Expected closing Oct. 30; $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.

WEBER-STEPHEN PRODUCTS LLC: $1.5 billion credit facilities (B); BofA Securities, BMO, Citigroup, JPMorgan, Morgan Stanley, UBS and Wells Fargo; $300 million five-year revolver; $1.2 billion seven-year term B talked at Libor plus 325 bps to 350 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; refinance existing debt and add liquidity; manufacturer of charcoal, gas and electric grills and accessories.

WHEEL PROS: $1.045 billion credit facilities; UBS; $100 million five-year ABL revolver; $735 million seven-year first-lien term loan talked at Libor plus 500 bps to 525 bps, 1% Libor floor, OID 98.5, 101 soft call for six months; $210 million second-lien term loan; refinance existing debt and fund a dividend; distributor of wheels and tires.

WHITE CAP (APPLECARAMEL BUYER LLC): Expected closing Oct. 19; $2.335 billion seven-year covenant-lite first-lien term B (B2/B) at Libor plus 400 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.

ZYWAVE INC.: $390 million senior secured credit facilities; Morgan Stanley, Credit Suisse, Antares, Ares and Golub; $50 million five-year revolver; $340 million seven-year covenant-lite first-lien term B talked at Libor plus 400 bps, 0.75% Libor floor, OID 99 to 99.5, 101 soft call for six months; help fund acquisition of the company and provide for working capital needs and general corporate purposes; Milwaukee-based insurance technology provider.

On The Horizon

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.

AMERICAN BATH GROUP LLC: New debt financing; Credit Suisse, RBC, BofA Securities, BMO, Truist, Barclays and UBS; help fund buyout by Centerbridge Partners LP from Lone Star Funds; Arlington, Texas, manufacturer of showers, bathtubs and related accessories.

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: $485 million of incremental bank debt; Capital One; $460 million incremental senior secured term loan (including $320 million delayed-draw); $25 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.

HELIOS TECHNOLOGIES: New credit facilities; help fund acquisition of BWG Holdings I Corp. (Balboa Water Group) from AEA Investors LP; Sarasota, Fla. developer and manufacturer of hydraulic and electronic control solutions.

ONEDIGITAL: New debt financing; JPMorgan, Barclays, Goldman Sachs and Golub; help fund buyout by Onex Corp. from New Mountain Capital; Atlanta-based provider of employee benefits insurance brokerage and retirement consulting services.

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.: $725 million senior secured credit facilities; BofA Securities, Barclays, Goldman Sachs, Deutsche Bank, HSBC and Nomura; $125 million revolver; $600 million term loan; 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.

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