Bank Loan Calendar: $44.975 billion deals being marketed

January Bank Meetings

ACADIA HEALTHCARE CO. INC.: $955 million incremental senior secured term B; Bank of America and Jefferies; help fund acquisition of Priory Group; Franklin, Tenn., provider of inpatient behavioral healthcare services.

KEURIG GREEN MOUNTAIN INC.: Bank meeting Jan. 21 in London (NY was Jan. 19); $6.4 billion senior secured credit facility (Ba3/BB); JPMorgan, Goldman Sachs, Morgan Stanley, BNP Paribas, Citigroup, HSBC and Rabobank; $500 million five-year revolver talked at Libor plus 200 bps; $2.95 billion five-year term A talked at Libor plus 200 bps; $2.675 billion seven-year term B talked at Libor plus 375 bps to 400 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; $275 million euro equivalent seven-year term B; help fund purchase by JAB Holding Co.-led investor group; Waterbury, Vt., personal beverage system company.

SOLERA HOLDINGS INC.: $2.2 billion senior secured credit facility; Goldman Sachs; $300 million revolver; $1.9 billion term loan; help fund buyout by Vista Equity Partners; San Ramon, Calif., provider of software and services to the automobile insurance claims processing industry.

VIVID SEATS LTD.: Bank meeting expected Jan. 25 week; $240 million in first-lien senior bank debt; RBC and SG; in connection with strategic partnership with Vista Equity Partners; Chicago-based full-service secondary ticket marketplace for live sports, concerts and theater events.

Upcoming Closings

1-800 CONTACTS INC. (CNT HOLDINGS III CORP.): $580 million credit facility (B1/B); Credit Suisse, Barclays and Deutsche Bank; $80 million five-year revolver; $500 million seven-year first-lien term loan at Libor plus 425 bps, step-down to Libor plus 400 bps at 3.5 times net first-lien leverage; 1% Libor floor, OID 99, 101 soft call; help fund AEA Investors LP’s acquisition of a majority interest from Thomas H. Lee Partners LP; Draper, Utah, retailer of contact lenses.

ALPHA MEDIA: $350 million credit facility; Citizens Bank; $20 million revolver (B1/B); $265 million first-lien term loan (B1/B) talked at Libor plus 475 bps to 500 bps, 1% Libor floor, OID 99, 101 soft call for six months; $65 million privately placed second-lien term loan; fund acquisition of radio stations from Digity LLC; Portland, Ore., radio broadcast media company.

AMERICAN RENAL HOLDINGS INC.: $60 million add-on first-lien term loan (B) talked at Libor plus 375 bps, 1.25% Libor floor, OID 99, 101 soft call for six months; Bank of America, Wells Fargo, SunTrust, Barclays and Goldman Sachs; refinance second-lien term loan debt and pay a dividend; also increasing pricing on existing first-lien term loan to Libor plus 375 bps, 1.25% Libor floor; Beverly, Mass., provider of dialysis services.

AVAGO TECHNOLOGIES CAYMAN FINANCE LTD. (BROADCOM LTD.): Expected close Feb. 1; $9.75 billion seven-year covenant-light term B (Ba1/BBB/BBB) at Libor plus 350 bps, step-down to Libor plus 325 bps at 1.75x net total leverage, 0.75% Libor floor, OID 99, 101 soft call for six months; Bank of America, Credit Suisse, Deutsche Bank, Barclays, Citigroup and Wells Fargo; also €900 million term B at Euribor plus 350 bps, step-down to Euribor plus 325 bps at 1.75x net total leverage, 0.75% floor, OID 99, 101 soft call for six months; help fund acquisition of Broadcom Corp. and refinance existing debt facilities; also $500 million revolver and $4.25 billion term A at Libor plus 150 bps to 200 bps, subject to a ratings-based grid; semiconductor company.

CABLE & WIRELESS COMMUNICATIONS PLC: $1.37 billion credit facility; Bank of America, Goldman Sachs, Scotiabank, BNP Paribas, Citigroup, Credit Suisse, ING and RBC; $440 million seven-year covenant-light term B-1 (Ba2/BB-) at Libor plus 475 bps, 0.75% Libor floor, OID 98, 101 soft call; $360 million seven-year covenant-light term B-2 (Ba2/BB-) at Libor plus 475 bps, 0.75% Libor floor, OID 98, 101 soft call; $570 million revolver; refinance notes and revolvers, and fund a special dividend in connection with acquisition by Liberty Global plc; London-based telecommunications company.

CABLEVISION SYSTEMS CORP.: $5.8 billion credit facility (Ba1/BB-); JPMorgan, BNP Paribas and Barclays; $2 billion five-year revolver; $3.8 billion seven-year term B at Libor plus 400 bps, 1% Libor floor, OID 98.5, 101 soft call; help fund acquisition by Altice NV and repay existing term loans; Bethpage, N.Y., media and telecommunications company.

GCP APPLIED TECHNOLOGIES INC.: $275 million six-year covenant-light term B (Ba2/BB+) talked at Libor plus 450 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; Deutsche Bank, Goldman Sachs, Bank of America and Citigroup; fund a distribution and for working capital in connection with spinoff from W.R. Grace & Co.; Cambridge, Mass., provider of products and technology solutions in the specialty construction chemicals, specialty building materials and packaging sealants and coating industries.

GRAY TELEVISION INC.: Expected close Feb. 1; $425 million incremental senior secured term loan (Ba3/BB) due June 2021 at Libor plus 350 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; Wells Fargo and Bank of America; help fund acquisition of all television and radio stations of Schurz Communications Inc.; Atlanta-based television broadcast company.

JAMUL INDIAN VILLAGE DEVELOPMENT CORP.: $460 million senior secured credit facility (B3/B); Citizens Bank, Fifth Third and Goldman Sachs; $15 million revolver; $335 million term B talked at Libor plus 800 bps, 1% Libor floor, OID 98, non-call one, 102, 101; $110 million delayed-draw term loan; back construction of Hollywood Casino Jamul-San Diego on Jamul Indian Village’s reservation in Jamul, Calif.

KONECRANES TEREX PLC: $1.6 billion credit facility (Ba2/BB+); Credit Suisse, Citigroup, Commerzbank, Credit Agricole and Nordea Bank; $900 million-equivalent seven-year term loan B (split into $355 million and €500 million tranches) at Libor plus 375 bps, 0.75% floor, OID 98; 101 soft call; $700 million multi-currency revolver; help fund merger of Terex Corp. and Konecranes plc and refinance existing debt; diversified equipment manufacturer and lifting solutions.

MATTRESS FIRM HOLDING CORP.: Expected close Feb. 3; $930 million in bank debt; Barclays; $730 million incremental first-lien term loan (Ba3/B+) talked at Libor plus 450 bps to 475 bps, 1% Libor floor, OID 98.5 to 99; 101 soft call for six months; $200 million amended and extended ABL revolver (BB); help fund acquisition of Sleepy’s; Houston-based mattress retailer.

MEDASSETS: $1.73 billion senior secured credit facility; Barclays, Morgan Stanley, Macquarie and Golub Capital; $100 million five-year revolver (B2/B); $1.13 billion 6.5-year first-lien covenant-light term loan (B2/B) talked at Libor plus 475 bps to 500 bps, 1% Libor floor, OID 99 (additional 50 bps fee if credit facility not repaid within six months of closing), 101 soft call for six months; $500 million seven-year second-lien covenant-light term loan (Caa2/CCC+) talked at Libor plus 950 bps, 1% Libor floor, OID 97, non-call one, 103, 101 (or par for 12 months for any prepayments with proceeds of the SCM divestiture); help fund buyout by Pamplona Capital Management; Alpharetta, Ga., health-care performance improvement company.

NORTHSTAR ASSET MANAGEMENT GROUP INC. (NSAM LP): $500 million seven-year covenant-light senior secured term B (Ba2/BBB-) talked at Libor plus 375 bps, 0.75% Libor floor, OID 98.5 to 99, 101 soft call for six months; Morgan Stanley; fund acquisition of a roughly 85% interest in the Townsend Group and refinance a short-term bridge facility; New York-based asset management firm focused on managing real estate investment platforms.

PETCO ANIMAL SUPPLIES INC.: Expected close late January; $3.025 billion credit facility; Citigroup, Barclays, RBC, Credit Suisse, Nomura and Macquarie; $1.825 billion seven-year covenant-light senior secured first-lien term loan B-1 (B1/B) at Libor plus 475 bps, 1% Libor floor, OID 98, 101 soft call; $700 million seven-year covenant-light senior secured term B-2 at Libor plus 500 bps, OID 98, 101 soft call; $500 million asset-based revolver; help fund buyout by CVC Capital Partners and Canada Pension Plan Investment Board from TPG and Leonard Green & Partners; San Diego-based specialty retailer of pet food, supplies and services.

PGT INC.: $310 million seven-year covenant-light term B (B2/B+) talked at Libor plus 500 bps to 525 bps, 1% Libor floor, OID 98.5, 101 soft call for six months; Deutsche Bank and SunTrust; fund acquisition of WinDoor Inc. and refinance existing debt; Venice, Fla., manufacturer and supplier of residential impact-resistant windows and doors.

SARNOVA INC.: $255 million credit facility; Capital One; $40 million revolver; $215 million six-year first-lien term loan talked at Libor plus 475 bps, 1% Libor floor, OID 99; refinance existing debt; Dublin, Ohio, medical sales and distribution company.

SOLARWINDS: $1.625 billion senior secured credit facility (B1/B); Goldman Sachs, Credit Suisse, Macquarie and Nomura; $125 million revolver; $1.5 billion equivalent U.S. and euro seven-year covenant-light first-lien term loan talked at Libor/Euribor plus 500 bps to 525 bps, 1% floor, OID 98.5, 101 soft call for six months; help fund buyout by Silver Lake Partners and Thoma Bravo LLC; Austin, Texas, provider of IT management software.

STAPLES INC.: $5.75 billion credit facility; Barclays, Bank of America, Wells Fargo and HSBC; $3 billion five-year asset-based revolver; $2.75 billion six-year senior secured covenant-light term B (Baa2/BBB) at Libor plus 275 bps, 0.75% Libor floor, OID 99½, 101 soft call for six months; help fund acquisition of Office Depot Inc.; Framingham, Mass., retailer of office supplies.

STERLINGBACKCHECK: $120 million add-on first-lien term loan (B1/B) talked at Libor plus 400 bps to 425 bps, 1% Libor floor, OID 98.5 to 99, 101 soft call for six months; Goldman Sachs, Keybanc and ING; help fund acquisition of TalentWise; New York-based background screening company.

STRATOSE INC.: Expected close late January; $265 million first-lien term loan talked at Libor plus 500 bps to 525 bps, 1% Libor floor, OID 98.5 to 99, 101 soft call for six months; SunTrust, Capital One and BMO; help refinance existing debt and fund an add-on acquisition; Atlanta-based provider of healthcare cost containment solutions.

On The Horizon

BLOUNT INTERNATIONAL INC.: $550 million senior secured credit facility; Barclays and KeyBanc; $75 million revolver, $300 million term loan, $175 million euro-equivalent term loan; help fund acquisition by American Securities LLC and P2 Capital Partners LLC; closing expected in first half of 2016; Portland, Ore.-based manufacturer and marketer of replacement parts, equipment and accessories for consumers and professionals operating in forestry, lawn and garden; farm, ranch and agriculture; and concrete cutting and finishing.

CACI INTERNATIONAL INC.: $300 million in incremental term loan debt; Bank of America; help fund acquisition of L-3 National Security Solutions Inc.; Arlington, Va., provider of information solutions and services in support of national security missions and government transformation for Intelligence, Defense, and Federal Civilian customers.

CISION: New debt financing; Deutsche Bank, Barclays and RBC; help fund acquisition of PR Newswire from UBM plc; Chicago-based media intelligence company.

COMTECH TELECOMMUNICATIONS CORP.: $400 million five-year senior secured credit facility; Citigroup; $150 million revolver expected at Libor plus 325 bps; $250 million term A expected at Libor plus 325 bps; help fund acquisition of TeleCommunication Systems Inc.; Melville, N.Y., designer, developer, producer and marketer of products, systems and services for advanced communications solutions.

DELL INC.: $20.5 billion senior secured credit facility; Credit Suisse, JPMorgan, Bank of America, Barclays, Citigroup, Goldman Sachs, Deutsche Bank and RBC; $3 billion five-year revolver; $3.5 billion three-year term A-1; $3.5 billion five-year term A-2; $8 billion seven-year term B, 101 soft call for six months; $2.5 billion 364-day term cash flow facility; help fund acquisition of EMC Corp.; Round Rock, Texas, technology and services company.

DIALOG SEMICONDUCTOR: $2.1 billion seven-year covenant-light term loan (Ba2/BB) expected at Libor plus 325 bps, 0.75% Libor floor; Morgan Stanley; help fund acquisition of Atmel Corp.; London-based provider of highly integrated standard and custom mixed-signal integrated circuits.

ENDURANCE INTERNATIONAL GROUP HOLDINGS INC.: $735 million incremental term loan (B1/B); Credit Suisse and Goldman Sachs; help fund acquisition of Constant Contact Inc.; Burlington, Mass., provider of web hosting and online services.

GLOBAL PAYMENTS INC.: $1.78 billion in term loans; Bank of America, MUFG, PNC, TD Securities, SunTrust, Fifth Third, Barclays and Capital One; $165 million add-on term A at Libor plus 250 bps; $1.615 billion seven-year term B expected at Libor plus 375 bps, step-down based on leverage, 0.75% Libor floor, 101 soft call for six months; help fund acquisition of Heartland Payment Systems Inc.; Atlanta-based provider of payment technology services.

MEDIA GENERAL INC.: Incremental senior secured term B; RBC and JPMorgan; help fund acquisition of Meredith Corp.; Richmond, Va., television broadcasting and digital media company.

NEW FLYER INDUSTRIES INC.: $825 million four-year senior secured credit facility; Bank of Nova Scotia and BMO; $343 million revolver; $482 million term loan; fund acquisition of Motor Coach Industries International Inc. from KPS Capital Partners LP and refinance existing credit facilities; Winnipeg-based manufacturer of heavy-duty transit buses.

ON SEMICONDUCTOR CORP.: $2.7 billion senior secured credit facility; Deutsche Bank and Bank of America; $300 million five-year revolver expected at Libor plus 300 bps; $2.4 billion seven-year covenant-light term B expected at Libor plus 350 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; help fund acquisition of Fairchild Semiconductor International Inc.; Phoenix semiconductor company.

PINNACLE ENTERTAINMENT INC. OPCO: $935 million senior secured credit facility; JPMorgan, Bank of America, Goldman Sachs, Fifth Third, U.S. Bank, Credit Agricole, Deutsche Bank and Wells Fargo; $400 million five-year revolver expected at Libor plus 200 bps; $185 million five-year term A expected at Libor plus 200 bps; $350 million seven-year covenant-light term B; help fund spinoff of operating business and the real property of Belterra Park Gaming & Entertainment from Pinnacle.

TREEHOUSE FOODS INC.: $1 billion of new bank debt; Bank of America; help fund purchase of ConAgra Foods Inc.’s private brands operations; Oak Brook, Ill., consumer packaged food and beverage manufacturer.

VIRTUSA CORP.: $300 million five-year senior secured credit facility; JPMorgan and Bank of America; $100 million revolver expected at Libor plus 275 bps; $200 million multi-draw term loan expected at Libor plus 275 bps; help fund acquisition of Polaris Consulting & Services Ltd.; Westborough, Mass., information technology services company.

WESTERN DIGITAL CORP.: $10 billion credit facility; Bank of America, JPMorgan, Credit Suisse and RBC; $1 billion revolver; $3 billion of amortizing term loans; $6 billion of other term loans; help fund acquisition of SanDisk Corp. and refinance existing debt; Irvine, Calif., developer and manufacturer of storage solutions that enable people to create, manage, experience and preserve digital content.

WESTERN REFINING INC.: New debt financing; help fund acquisition of outstanding common units of Northern Tier Energy LP that it does not already own; El Paso, Texas, refining and marketing company.

WEX INC.: $2.125 billion senior secured credit facility; Bank of America, SunTrust and MUFG; $350 million five-year revolver; $1.775 billion seven-year term loan; help fund acquisition of Electronic Funds Source LLC and refinance existing bank debt; South Portland, Maine, provider of corporate payment solutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.