Bank Loan Calendar: $28.422 billion deals being marketed

January Bank Meetings

ADT INC. (PRIME SECURITY SERVICES BORROWER LLC): Lender call Jan. 19; $2.779 billion first-lien term B due Sept. 23, 2026; Barclays, Citigroup, Deutsche Bank, Mizuho and RBC; refinance/reprice an existing first-lien term B; Boca Raton, Fla., provider of monitored security and interactive home and business automation solutions.

INMARSAT PLC: Lender call Jan. 19; $1.737 billion first-lien term B due Dec. 12, 2026; Barclays; repricing; London-based satellite telecommunications company.

RV RETAILER: Lender call Jan. 19; $420 million term B (B2/B+); Goldman Sachs; recapitalize balance sheet and fund near-term dealership acquisitions; recreational vehicle retail company.

Upcoming Closings

CAREISMATIC BRANDS: $815 million credit facilities; UBS, Credit Suisse, Barclays, RBC, Macquarie and BMO; $100 million five-year revolver (B1/B); $575 million seven-year covenant-lite first-lien term loan (B1/B) talked at Libor plus 375 bps to 400 bps, 0.75% Libor floor, OID 99.5, 101 soft call for six months; $140 million eight-year covenant-lite second-lien term loan (Caa1/CCC+) talked at Libor plus 750 bps to 775 bps, 0.75% Libor floor, OID 98.5, call protection 102, 101; help fund buyout by Partners Group from New Mountain Capital; Chatsworth, Calif., designer, marketer and distributor of medical apparel, corporate identity apparel, school uniforms and adaptive clothing.

COLE-PARMER INSTRUMENT CO. LLC (CPI HOLDCO LLC): $1.058 billion of term loans; Jefferies; roughly $993 million first-lien term loan due Nov. 4, 2026 (including $125 million incremental) (B2/B) at Libor plus 400 bps, 25 bps leveraged-based step-down, 0% Libor floor, issue price par, 101 soft call for six months; $65 million privately placed incremental second-lien term loan; fund an acquisition and reprice existing first-lien term loan; Vernon Hills, Ill., manufacturer of peristaltic, temperature monitoring, and environmental precision equipment/consumables used in research and production applications.

ERT (ERESEARCHTECHNOLOGY INC.): $950 million of senior secured term loans; Goldman Sachs and Jefferies; $750 million incremental first-lien term loan (of which $250 million has been pre-placed) (B2/B-) due Feb. 4, 2027 at Libor plus 450 bps, 1% Libor floor, par issue price; $50 million pre-placed first-lien delayed-draw term loan; $150 million pre-placed incremental second-lien term loan; fund acquisition of Bioclinica; Philadelphia-based provider of software-enabled clinical research solutions to pharmaceutical companies and contract research organizations.

FIRST ADVANTAGE: $100 million add-on term loan talked at Libor plus 350 bps, 0% Libor floor, OID 99; BofA Securities; repay a second-lien term loan; Atlanta-based provider of comprehensive background screening, identity and information solutions.

GRAB HOLDINGS INC.: $750 million five-year term loan B (B3/B-) talked at Libor plus 525 bps to 550 bps, 1% Libor floor, OID 97, non-call two, 101, carve-out in year one of 103 for IPO; JPMorgan, Barclays, HSBC, Mizuho and MUFG; general corporate purposes; Singapore-based ride hailing company and a provider of food delivery, digital payments and other financial services via a mobile app.

HUB INTERNATIONAL LTD.: Expected closing Jan. 18 week; $1.506 billion covenant-lite first-lien term B (B2/B) due April 2025 at Libor plus 325 bps, 0.75% Libor floor, issue price par, 101 soft call for six months; Morgan Stanley, BofA Securities, Barclays, BMO, Credit Suisse, Goldman Sachs, JPMorgan, Macquarie and Nomura; repricing; Chicago-based insurance brokerage.

INEOS QUATTRO: €2.6 billion equivalent U.S. and euro five-year first-lien term B (Ba2/BB+/BB+); JPMorgan; Barclays, BNP Paribas, Citigroup, Goldman Sachs, HSBC, BofA Securities, Commerzbank, Credit Suisse, Lloyds, Mizuho, Morgan Stanley, NatWest, ABN Amro, Credit Agricole, Deutsche Bank, ING, Intesa, Santander, Fifth Third, ICBC, KBC and MUFG; U.S. term loan talked at Libor plus 325 bps to 350 bps, 0.5% Libor floor, OID 99 to 99.5, 101 soft call for six months; euro term loan talked at Euribor plus 325 bps to 350 bps, 0% floor, OID 99 to 99.5, 101 soft call for six months; help repay bridge loans incurred to fund the acquisition of BP’s Aromatics and Acetyls businesses, refinance the existing Inovyn term B and fund the full amount of deferred consideration owed to BP; chemicals company.

IRIDIUM SATELLITE LLC: $1.638 billion covenant-lite term B (B1/BB-) due November 2026 at Libor plus 275 bps, 1% Libor floor, issue price par, 101 soft call for six months; Deutsche Bank, Barclays, Credit Suisse and Wells Fargo; repricing; McLean, Va., provider of mobile voice and data communications services through satellite.

JANE STREET GROUP LLC: $300 million add-on term B (BB-) talked at Libor plus 300 bps, 0% Libor floor, OID 99.75; JPMorgan; general corporate purposes; New York-based quantitative trading firm.

LIFE TIME INC.: $850 million covenant-lite term B (B3/B-) due December 2024 at Libor plus 475 bps, 1% Libor floor, OID 99, 101 hard call for one year, then 101 soft call for six months; Deutsche Bank, Mizuho, U.S. Bank, BMO, Nomura, BofA Securities, Macquarie, Goldman Sachs, KKR, Morgan Stanley, RBC, JPMorgan and Wells Fargo; amend and extend an existing term B; Chanhassen, Minn., operator of athletic resorts.

MURPHY USA INC.: $750 million credit facilities (Baa3/BBB-); RBC; $350 million five-year revolver; $400 million seven-year term B talked at Libor plus 200 bps to 225 bps, 0.5% Libor floor, OID 99.5, 101 soft call for six months; help fund acquisition of QuickChek Corp.; El Dorado, Ark., retailer of gasoline and convenience merchandise.

NTHRIVE TSG (MEDASSETS SOFTWARE INTERMEDIATE HOLDINGS INC.): $620 million of term loans; Deutsche Bank, UBS, BMO, Jefferies, Antares, BNP Paribas and Golub; $500 million seven-year covenant-lite first-lien term B (B2/B-/BB-) at Libor plus 375 bps, 0.75% Libor floor, OID 99.5, 101 soft call for six months; $120 million privately placed second-lien term loan; help fund buyout by Clearlake Capital Group LP from nThrive Holdings LP and add cash to the balance sheet; provider of healthcare revenue cycle management software-as-a-service solutions.

OPTION CARE HEALTH INC.: $250 million add-on term loan talked at Libor plus 375 bps to 400 bps, 0% Libor floor, OID 99.5 to 99.75; BofA Securities; repay existing second-lien PIK notes; Bannockburn, Ill., provider of home and alternate treatment site infusion therapy services.

PETVET CARE CENTERS LLC: Roughly $673 million first-lien term B-3 due February 2025 (including $300 million incremental) at Libor plus 350 bps, 0.75% Libor floor, issue price par, 101 soft call for six months; Jefferies and KKR; fund acquisition pipeline and repricing; Westport, Conn., operator of general practice and specialty veterinary hospitals for companion animals.

PIKE CORP.: $730 million covenant-lite first-lien term B (Ba3/B) due December 2027 at Libor plus 300 bps, 25 bps step-down upon an IPO, 0% Libor floor, OID 99.875, 101 soft call for six months; Morgan Stanley; support acquisition by Lindsay Goldberg of 50.1% of the company that closed on Dec. 21, refinance existing term loans and general corporate purposes; Mount Airy, N.C., specialty construction and engineering firm.

PRIMESOURCE (PARK RIVER HOLDINGS INC.): $1.095 billion seven-year covenant-lite first-lien term B (B2/B/B+) talked at Libor plus 400 bps to 425 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; Deutsche Bank, Credit Suisse, RBC, Wells Fargo, Nomura, Golub and Antares; back the buyout of PriSo Holding Corp. (PrimeSource) by Clearlake Capital Group LP from Platinum Equity and merger with TKE Holdings Inc. (Dimora Brands); Irving, Texas, provider of construction fastening solutions and other complementary specialty building products.

PROTECTIVE INDUSTRIAL PRODUCTS INC.: $670 million senior secured credit facilities; Antares, Citizens and Bank of Ireland; $75 million five-year revolver (B2/B-); $435 million seven-year covenant-lite first-lien term loan (B2/B-) talked at Libor plus 425 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; $160 million privately placed second-lien term loan at Libor plus 825 bps, 1% Libor floor, hard call 102, 101; help fund buyout by Odyssey Investment Partners from Audax Private Equity; Latham, N.Y., provider of personal protective equipment and industrial safety products.

SOTERA HEALTH CO.: $1.768 billion term B due December 2026 at Libor plus 275 bps, 0.5% Libor floor, issue price par, 101 soft call for six months; JPMorgan; repricing; Broadview Heights, Ohio, provider of mission-critical end-to-end sterilization solutions and lab testing and advisory services for the healthcare industry.

SYSTEM ONE HOLDINGS LLC: $325 million credit facilities (B2/B-); Truist; $45 million revolver; $280 million seven-year covenant-lite term B talked at Libor plus 475 bps, 0.75% Libor floor, OID 98.5, 101 soft call for six months; help fund buyout by Oaktree Capital Management LP; Pittsburgh-based provider of specialized workforce solutions and integrated services.

TRUCK HERO INC.: $1.75 billion credit facilities; Jefferies, BofA Securities, Credit Suisse, KKR and Stifel; $200 million five-year ABL revolver; $1.55 billion seven-year senior secured first-lien term loan (B2/B-) talked at Libor plus 400 bps to 425 bps, two 25 bps leverage-based step-downs and one 25 bps IPO-based step-down, 0.75% Libor floor, OID 99, 101 soft call for six months; help fund buyout by L Catterton; Ann Arbor, Mich., provider of aftermarket accessories for pickup trucks and Jeep vehicles.

UKG INC. (ULTIMATE KRONOS GROUP): $3.238 billion covenant-lite first-lien term loan (including $300 million incremental) due May 2026 at Libor plus 325 bps, 0.75% Libor floor, issue price par, 101 soft call for six months; Credit Suisse; repricing and refinance a portion of existing second-lien term loan; provider of best-of-breed human capital management solutions with headquarters in Lowell, Mass. and Weston, Fla.

VESTCOM PARENT HOLDINGS INC.: $100 million incremental first-lien term loan talked at Libor plus 400 bps, 1% Libor floor, OID 99.55, 101 soft call for six months; Antares; fund a distribution to shareholders; Little Rock, Ark., provider of outsourced technology and services that support price communication, merchandising and promotion execution at the shelf edge.

WESTINGHOUSE (BROOKFIELD WEC HOLDINGS INC.): $3 billion first-lien term loan (B2/B/B+) due August 2025 talked at Libor plus 275 bps, 25 bps step-down at B1/B+ corporate ratings with stable outlooks, 0.5% Libor floor, issue price par, 101 soft call for six months; Credit Suisse; repricing; Pittsburgh-based provider of infrastructure services to a nuclear reactor fleet.

WOMEN’S CARE HOLDINGS INC. LLC: $550 million credit facilities; Jefferies (left on first-lien), Credit Suisse (left on second-lien), Deutsche Bank, RBC, Macquarie and Nomura; $70 million five-year revolver (B-); $360 million seven-year covenant-lite first-lien term loan (B-) at Libor plus 450 bps, 0.75% Libor floor OID 99, 101 soft call for six months; $120 million eight-year covenant-lite second-lien term loan (CCC) at Libor plus 825 bps, 0.75% Libor floor, OID 98, hard call 102, 101; help fund buyout by BC Partners; women’s health platform, dedicated to providing the highest quality obstetrics, gynecology and fertility care for their patients.

On The Horizon

ADAPTHEALTH CORP.: $486.7 million in new senior secured term loans; Jefferies; help fund acquisition of AeroCare Holdings Inc.; Plymouth Meeting, Pa., provider of home healthcare equipment, medical supplies to the home and related services.

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.

ALASKA COMMUNICATIONS SYSTEMS GROUP INC.: New debt financing; Fifth Third; help fund acquisition by a newly formed entity owned by ATN International Inc. and Freedom 3 Capital LLC; Anchorage, Alaska, provider of advanced broadband and managed IT services.

ALLIED UNIVERSAL: $950 million seven-year covenant-lite first-lien term loan expected at Libor plus 425 bps; Credit Suisse, Morgan Stanley, Deutsche Bank, BNP Paribas, HSBC, Mizuho, Societe Generale, ING, MUFG and Truist; also €715,447,155 seven-year covenant-lite first-lien term loan expected at Euribor plus 475 bps; €300 million five-year revolver expected at Libor plus 425 bps; help fund acquisition of G4S plc; Santa Ana, Calif., provider of security services.

AMERICAN PUBLIC EDUCATION INC.: $195 million senior secured credit facilities; Macquarie; $20 million five-year revolver; $175 million six-year term B, 101 soft call; help fund acquisition of Rasmussen University; Charles Town, W.V., provider of higher learning.

CARDTRONICS PLC: $1.5 billion senior secured credit facilities; RBC, Barclays, Deutsche Bank and Mizuho; $300 million five-year revolver; $1.2 billion seven-year covenant-lite term loan, 0% Libor floor, 101 soft call for six months; help fund buyout by Apollo Global Management Inc. and Hudson Executive Capital LP; Houston-based ATM owner/operator.

CAREMAX INC.: New senior secured credit facilities; RBC; help fund formation through acquisitions of CareMax Medical Group LLC and IMC Medical Group Holdings LLC by Deerfield Healthcare Technology Acquisitions Corp.; technology-enabled care platform providing care and chronic disease management to seniors.

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.

ENDURANCE INTERNATIONAL GROUP HOLDINGS INC.: $2.03 billion senior secured credit facilities; JPMorgan, BofA Securities, Deutsche Bank and UBS; $200 million revolver; $1.83 billion first-lien term loan; help fund buyout by Clearlake Capital Group LP; Burlington, Mass., provider of cloud-based platform solutions designed to help small and medium-sized businesses succeed online.

FOUNDATION BUILDING MATERIALS INC.: New credit facilities; Credit Suisse and BofA Securities; ABL facility; first-lien term loan; help fund buyout by American Securities LLC; Santa Ana, Calif.-based distributor of specialty building products.

GLOBAL CONNECT (NIELSENIQ): $1.95 billion equivalent credit facilities; BofA Securities, UBS, Barclays, Deutsche Bank, HSBC, RBC, MUFG and Wells Fargo; $350 million revolver; $950 million term loan; $650 million equivalent euro term loan; help fund buyout by Advent International and James Peck from Nielsen Holdings plc; Chicago-based provider of actionable information to consumer packaged goods manufacturers and retailers.

INGRAM MICRO INC.: New debt financing; JPMorgan, BofA Securities and Morgan Stanley; help fund buyout by Platinum Equity from HNA Technology Co. Ltd.; Irvine, Calif., provider of technology logistics services and solutions.

PROSIGHT GLOBAL INC.: New debt financing; Truist; help fund buyout by TowerBrook Capital Partners LP and Further Global Capital Management; Morristown, N.J., specialty insurance company.

RENT-A-CENTER INC.: New credit facilities; JPMorgan, Credit Suisse and HSBC; asset-based loan; term B; help fund acquisition of Acima Holdings LLC; Plano, Tex., omni-channel lease-to-own provider for the credit constrained customer.

TRICORBRAUN: New debt financing; help fund buyout by Ares Management Corp. and Ontario Teachers’ Pension Plan Board from AEA Investors; St. Louis-based provider of packaging products.

TRINSEO SA: $400 million senior secured credit facility; Deutsche Bank and HSBC; help fund acquisition of Arkema SA’s polymethyl methacrylates and activated methyl methacrylates businesses (PMMA); Berwyn, Pa. materials company and manufacturer of plastics, latex binders and synthetic rubber.

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