Bank Loan Calendar: $8.65 billion deals being marketed

July Bank Meetings

HUNTSWORTH PLC: Lender call July 15; $300 million first-lien term loan; RBC; help fund already completed buyout by Clayton, Dubilier & Rice; London-based healthcare marketing and communication company.

Upcoming Closings

AGROFRESH SOLUTIONS INC.: $275 million term loan (B3/B) due December 2024 talked at Libor plus 600 bps to 625 bps, 1% Libor floor, OID 96 to 97; BMO and Deutsche Bank; refinance/amend and extend an existing term loan; Philadelphia-based provider of solutions, technologies and services to enhance the quality and extend the shelf life of fresh produce.

AUTHENTIC BRANDS GROUP LLC: $150 million incremental first-lien term loan (B) due 2024 talked at Libor plus 550 bps, 1% Libor floor, OID 97, non-call one; BofA Securities; acquisitions and general corporate purposes; New York-based acquirer and manager of consumer brands in the fashion, sports and celebrity/entertainment sectors.

CAESARS RESORT COLLECTION LLC: $1.8 billion five-year covenant-lite first-lien term loan (B1/B+) at Libor plus 450 bps, 0% Libor floor, OID 97, 101 soft call for six months; Credit Suisse, JPMorgan, Macquarie, BofA Securities, Deutsche Bank, Goldman Sachs, SunTrust, U.S. Bank and Citizens; help fund the acquisition of Caesars Entertainment Corp. by Eldorado Resorts Inc., pay down revolver borrowings and general corporate purposes; Las Vegas-based gaming and entertainment company.

IHEARTCOMMUNICATIONS INC.: $450 million senior secured term loan (B1/B+) due 2026 talked at Libor plus 400 bps, 0.75% Libor floor, OID 95 to 96, 101 soft call; BofA Securities; repay asset-based revolver borrowings and provide extra liquidity; San Antonio-based media company.

INFORMATICA LLC: Expected closing July 13 week; $50 million incremental covenant-lite second-lien term loan due February 2025 at 7.125%, OID 99.875, non-callable until Feb. 25, 2021, then 102, 101; Nomura; repay revolver borrowings and fund cash to the balance sheet; Redwood City, Calif., provider of enterprise cloud data management software and services.

MITCHELL INTERNATIONAL INC.: $675 million term loan (B2/B-) due 2024 at Libor plus 425 bps, 0.5% Libor floor, OID 94, 101 soft call; KKR, Jefferies, SunTrust and Morgan Stanley; fund an acquisition; San Diego-based provider of technology, connectivity and information solutions to the property and casualty claims, collision repair, workers’ compensation and pharmacy claims industries.

PQ CORP.: Expected closing mid-July; $650 million senior secured covenant-lite term B (B1/BB-) due Feb. 7, 2027 at Libor plus 300 bps, 1% Libor floor, OID 98.5, 101 soft call for six months; Citigroup, Credit Suisse, Morgan Stanley, JPMorgan, Jefferies, Goldman Sachs, Deutsche Bank, KeyBanc, BofA Securities and SunTrust; refinance notes; Malvern, Pa., producer of specialty inorganic performance chemicals and catalysts.

RSA SECURITY (REDSTONE BUYER LLC): $1.425 billion credit facilities; UBS, Jefferies, Barclays and Deutsche Bank; $75 million revolver (B1/B/BB+); $1.05 billion seven-year covenant-lite first-lien term loan (B1/B/BB+) at Libor plus 500 bps, step-down to Libor plus 475 bps at 0.5x inside closing date leverage, 1% Libor floor, OID 98, 101 soft call; $300 million pre-placed second-lien term loan (Caa1/B-/B-); help fund buyout by Symphony Technology Group, Ontario Teachers’ Pension Plan Board and AlpInvest Partners from Dell Technologies; provider of digital risk solutions including threat detection and response, identity and access management, integrated risk management and omnichannel fraud prevention.

THYSSENKRUPP ELEVATOR: $2.875 billion seven-year first-lien term loan B (B1/B/B+) at Libor plus 425 bps, 0% Libor floor, OID 98, 101 soft call; Goldman Sachs (left on U.S.), UBS (left on euro), Barclays, Credit Suisse, Deutsche Bank and RBC; also €1.015 billion seven-year first-lien term loan B (B1/B/B+) at Euribor plus 425 bps, 0% floor, OID 98, 101 soft call; help fund buyout by Advent International, Cinven and RAG-Stiftung; Germany-based provider of elevator technology.

On The Horizon

CINCINNATI BELL INC.: $1.6 billion senior secured credit facilities; Goldman Sachs, Regions Capital and Societe Generale; $250 million revolver; $1.35 billion of term loans; help fund acquisition by Macquarie Infrastructure Partners; Cincinnati-based provider of integrated communications solutions.

GRAHAM PACKAGING CO. INC.: New bank debt; first-lien term loan; senior secured revolver; repay existing debt at parent company Reynolds Group Holdings Ltd.; designer, manufacturer and seller of food, beverage, household and automotive containers.

LOGMEIN INC.: $3.55 billion credit facilities; Barclays, RBC, Deutsche Bank, Jefferies and Mizuho; $250 million revolver; $2.7 billion first-lien term loan; $600 million second-lien term loan; help fund buyout by Francisco Partners and Elliott Management Corp.; Boston-based provider of cloud-based connectivity.

MILANO ACQUISITION CORP. (U.S. STATE AND LOCAL HEALTH AND HUMAN SERVICES): New debt financing; JPMorgan; help fund buyout by Veritas Capital from DXC Technology; end-to-end provider of technology enabled, mission critical solutions that are fundamental to the administration and operations of health programs.

© 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.