Press Ganey, Intellectual Property, inVentiv loans potentially launching this month

By Sara Rosenberg

New York, Sept. 1 – Indicative timing is starting to surface on some new loan deals that are on the forward calendar as people are looking beyond the upcoming holiday weekend, with deals like Press Ganey, Intellectual Property & Science and inVentiv Health Inc. currently anticipated by sources as potential September business, Berry Plastics Group Inc. as possible September/October business and Rackspace as likely coming in the November timeframe.

Press Ganey’s new loan financing is expected to launch sometime this month, possibly during the week of Sept. 12, according to market sources.

Intellectual Property & Science’s new credit facility is also being described as September business, with the bank meeting likely taking during the Sept. 12 week as well, sources remarked.

inVentiv Health is another credit facility transaction that investors are anticipating will launch this month, according to sources. The company said in recent filings with the Securities and Exchange Commission that it has received a commitment for a $1.93 billion credit facility, split between a $250 million asset-based loan and a $1.68 billion senior secured term loan, and a $720 million senior unsecured bridge loan.

Berry Plastics has a commitment for a $500 million seven-year first priority senior secured incremental term loan, which could come to market in September. However, October may be more the likely timeframe, market sources said.

Looking down the road, Rackspace’s new loan transaction is being considered by some sources as likely November business.

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