High Yield Calendar

November 22 Week

RIMINI BIDCO SPA (RENO DE MEDICI SPA): €445 million five-year senior secured floating-rate notes (B2/B/BB-); Barclays (left books, global coordinator, bill and deliver), BNP Paribas (global coordinator), Credit Suisse, Intesa Sanpaolo, UniCredit (joint books); Rule 144A and Regulation S; callable after one year at 101; to repay debt including BidCo loan; Italy-based cardboard manufacturer; roadshow Nov. 23-25, pricing thereafter; initial talk Euribor plus 500 bps to 525 bps, 0% Euribor floor at 99.5.

On The Horizon

AMERICAN TIRE DISTRIBUTORS: $1 billion notes; Goldman Sachs; 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%.

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.

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.

COOKE OMEGA INVESTMENTS INC. and COOKE OMEGA FINCO, INC.: $580 million senior notes due 2029 (Caa1/CCC+); BofA, DNB, BMO, HSBC (joint), Desjardins, CIBC (co's); Rule 144A and Regulation S; callable after three years at par plus 50% of coupon; proceeds plus new credit facilities to refinance debt and a distribution; Blacks Harbour, N.B.-based seafood producer; initial talk high 5% to 6% area.

COVANTA HOLDING CORP.: $1.5 billion senior unsecured bridge facility to be replaced by unsecured notes, also $1.94 billion credit facilities; debt commitment from Barclays, Credit Suisse, TD, BNP Paribas, Credit Agricole, Goldman Sachs, RBC, Citigroup, Stifel, MUFG, Fifth Third, Citizens; to help fund its acquisition by EQT Infrastructure, expected to close in fourth quarter of 2021; Covanta is a Morristown, N.J.-based provider of sustainable waste and energy solutions; disclosed in PREM14A filed with SEC on Aug. 19.

DIASORIN SPA: $500 million one-year bridge loan and $1.1 billion term loan due 2026 via Citigroup, BNP Paribas, Mediobanca and UniCredit; to help fund its acquisition of Luminex Corp., enterprise value approximately $1.8 billion, expected to close in third quarter of 2021; DiaSorin is an Italy-based producer of reagent kits used by diagnostic laboratories; Luminex is an Austin, Tex.-based provider of biological testing technologies and products; April 12 news release.

HUNTINGTON INGALLS INDUSTRIES: $1 billion senior notes and $650 million term loan; to fund acquisition of Alion Science and Technology expected to close second half of 2021; Credit Suisse was financial adviser to Huntington Ingalls, Macquarie was financial adviser to Alion; Huntington Ingalls is a Newport News, Va.-based military shipbuilding company; details disclosed in July 9 8-K filed with SEC.

MCAFEE CORP.: $2.32 billion senior unsecured bridge facility, which may be replaced with senior notes; also $7.66 billion credit facilities; debt commitment from JPMorgan, BofA, Credit Suisse, Barclays, Citigroup, HSBC, RBC, CPPIB, UBS, PSP; to help fund its acquisition by an investor group led by Advent International Corp., Permira Advisers LLC, Crosspoint Capital Partners, Canada Pension Plan Investment Board, GIC Private Ltd. and Abu Dhabi Investment Authority, expected to close in first half of 2022; San Jose, Calif.-based provider of online protection for consumers; information from 8-K filed with SEC on Nov. 8.

PRINCE INTERNATIONAL CORP.: $1.26 billion senior notes and $2.27 billion credit facilities, debt commitment from Barclays and Credit Suisse; proceeds plus $200 million of equity to help fund its acquisition of Ferro Corp., expected to close in the first quarter of 2022; Prince is a Houston-based supplier of specialty products for niche applications in the construction, electronics, consumer products, agriculture, automotive, oil & gas, industrial and other end markets; disclosed in PREM14A filed with SEC.

STANDARD INDUSTRIES HOLDINGS INC.: $955 million senior unsecured bridge, also $2.95 billion senior secured credit facilities; debt commitment from JPMorgan, BNP Paribas, Citigroup, Deutsche Bank; to help fund its acquisition of W.R. Grace & Co. in transaction valued at around $7 billion, expected to close in fourth quarter of 2021; Standard Industries is a New York-based industrial company; W.R. Grace is a Columbia, Md.-based specialty chemical company; details disclosed in PREM14A filed SEC on May 24.

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