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Bank Loan Calendar: $1.3475 billion deals being marketed
MARCH BANK MEETINGS
TNS INC.: Bank meeting March 17; $250 million term loan (B1) due March 28, 2014 talked at Libor plus 600 bps, 3.5% Libor floor, OID 90, 101 call protection; SunTrust; help fund acquisition of VeriSign Inc.'s communication services group; Reston, Va., provider of business-critical, cost-effective data communications services for transaction-oriented applications.
UPCOMING CLOSINGS
FRANCIS COPPOLA WINERY: Expected close in March; $97.5 million credit facility; BMO Capital Markets; $55 million revolver talked at Libor plus 375 bps; $27.5 million term A talked at Libor plus 375 bps; $15 million 18-month delayed-draw term loan talked at Libor plus 375 bps; refinance existing debt and support capital expenditures.
ISTAR FINANCIAL INC.: Expected close in March; $700 million to $1 billion secured credit facility due June 2012 at Libor plus 250 bps; New York-based finance company focused on the commercial real estate industry.
ON THE HORIZON
INSITUFORM TECHNOLOGIES INC.: $100 million senior credit facility; Bank of America; $50 million term loan; $50 million revolver; help fund acquisition of Corrpro Cos. Inc.; Chesterfield, Mo.-based provider of proprietary trenchless technologies to rehabilitate, replace, maintain and install underground pipes.
IOWA TELECOMMUNICATIONS SERVICES INC.: $75 million term loan due November 2011 at Libor plus 200 bps; Rural Telephone Finance Cooperative; help fund the acquisition of Sherburne Tele Systems Inc.; Newton, Iowa, telecommunications service provider.
TRIDENT RESOURCES CORP.: New revolver; in connection with common stock IPO to repay existing debt; Calgary, Alta., natural gas production company.
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