High Yield Calendar: $300 million in the market

February 7 Week

STUDIO CITY HOLDINGS LTD.: $300 million senior secured notes due 2027; Deutsche Bank; Rule 144A and Regulation S; non-callable for two years; to partially fund the capital expenditures of the remaining project for Studio City and for general corporate purposes; subsidiary of Macau-based Studio City Co., Ltd., an entertainment resort; roadshow started Monday; pricing expected Wednesday; initial talk low 7% area.

CASTOR SPA: €1.4 billion seven-year senior secured notes in benchmark tranches of fixed-rate notes with three years of call protection and floating-rate notes with one year of call protection; JPMorgan (global coordinator, joint books), Deutsche Bank, Goldman Sachs, UniCredit (joint books); Rule 144A and Regulation S; to repay bridge loans used to finance the acquisition of Cerved; Donato, Italy-based financial information company; investor call Monday; roadshow Tuesday through Thursday.

On The Horizon

ACURIS FINANCE US, INC. and ACURIS FINANCE SARL, doing business as ION ANALYTICS: $850 million equivalent eight-year senior secured notes (expected ratings B2/B) in tranches of dollar-denominated notes, price talk 6% area (initial talk low-to-mid 6% area), and euro-denominated notes, price talk 4¾% area (initial talk mid-to-high 4% area) tranche sizes to be determined (expected $500 million and $350 million equivalent euro); UBS (left books), BNP Paribas (joint books); Rule 144A and Regulation S for life; notes in both tranches callable after two years at par plus 50% of respective coupons; to refinance debt incurred in the Backstop acquisition, to fund a dividend for repurchase of shares from certain minority shareholders in one or more parent companies, to partially prepay amounts drawn under the credit facility and for general corporate purposes; London-based market analytics and data provider (delayed as of Jan. 28).

ENTEGRIS INC.: Up to $895 million 364-day senior unsecured bridge loan, and up to $4 billion term loan B; Morgan Stanley; proceeds plus cash on hand to fund the cash portion of the acquisition of CMC Materials Inc., expected to close in the second half of 2022, also refinance certain CMC and Entegris debt, to fund working capital and for general corporate purposes; Billerica, Mass.-based Entegris and Aurora, Ill.-based CMC Materials supply products and services to the semiconductor industry; financing disclosed in 8-K filed with SEC on Dec. 16.

SPX FLOW INC.: $570 million senior unsecured bridge loan expected to be replaced by senior notes issue; also $1.74 billion senior secured credit facilities; debt commitment from Citigroup, BofA, RBC, Truist, BNP Paribas, Deutsche Bank; to help fund buyout by Lone Star Funds, expected to close in first half of 2022, to refinance debt and for general corporate purposes; Charlotte, N.C.-based provider of process solutions for the nutrition, health and industrial markets; disclosed in PREM14A filed on Jan. 11 with SEC.

Roadshow

Started Feb. 7: STUDIO CITY $300 million; Deutsche Bank

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