High Yield Calendar

Expected February Business

AMERICAN TIRE DISTRIBUTORS: $1 billion unsecured notes; Goldman Sachs; to finance exit from bankruptcy; Huntersville, N.C.-based tire distribution business; non-deal roadshow during Feb. 8 week; offering expected to launch Feb. 15 week; initial yield expectation 8½%.

MACY'S, INC.: Seven-year senior notes, size to be determined; BofA; proceeds to address 2022 and 2023 maturities; department store chain operator based in New York City.

On The Horizon

CARDTRONICS: $450 million senior notes backed by $450 million one-year bridge loan and $1.5 billion credit facility to help fund the acquisition of the company by Apollo Global Management Inc. and Hudson Executive Capital LP, with an enterprise value of $2.3 billion, including net debt, expected to close during first half of 2021; RBC, Barclays, Deutsche Bank and Mizuho are the joint lead arrangers on the credit facilities and bridge loan; Houston-based ATM owner/operator; disclosed in Jan. 7 SC 13E3 filed with SEC.

CETERA: $525 million unsecured bridge facility; Goldman Sachs, UBS; to fund the acquisition of certain assets related to the independent financial planning channel of Voya Financial Advisors and to repay an existing second-lien term loan; El Segundo, Calif.-based financial advice firm; disclosed by market source on Feb. 17, 2021.

CINCINNATI BELL INC.: $493 million senior bridge loans, commitment from Goldman Sachs; also $1.6 billion credit facilities via Goldman Sachs, Regions, SG; to help fund acquisition of Cincinnati Bell by Macquarie Infrastructure Partners in transaction valued at $2.9 billion, expected to close first half of 2021; Cincinnati-based provider of integrated communications solutions; details from March 19 PRER14A filed with SEC.

EMPIRE RESORTS INC.: $475 million senior secured notes (B+/B+); BNP Paribas (joint books, bill and deliver), Citigroup, DBS Bank; Rule 144A and Regulation S; non-callable for two years; to enhance liquidity; Monticello, N.Y.-based gaming, lodging and entertainment company indirectly owned by Malaysia-based Kien Huat Realty III Ltd. (51%) and Genting Malaysia Bhd. (49%).

JAZZ PHARMACEUTICALS: $2.2 billion senior secured bridge loan and $3.65 billion senior secured credit facilities; debt commitment provided by BofA and JPMorgan; proceeds plus cash on hand to fund the acquisition of GW Pharmaceuticals plc, expected to close in the second quarter of 2021; Dublin, Ireland-based Jazz and Cambridge, U.K.-based GW are biopharmaceutical companies; information disclosed in Feb. 4, 2021 8-K filed with SEC.

VERISURE HOLDING AB €2.42 billion notes: €1.15 billion secured notes and up to €1.27 billion unsecured notes; proceeds to fund redemption of 5¾% senior notes due 2023; announced on Jan. 7 in connection with consent solicited from holders of €700 million senior secured floating-rate notes due 2025 and fixed-rate notes due 2023, Goldman Sachs and JPMorgan solicitation agents, expires Jan. 13; Linkoping, Sweden-based supplier of commercial and home security systems.

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