Presidio, Global Knowledge, Angus, Hoover Container, Paris Presents, Stonewall Gas on deck

By Sara Rosenberg

New York, Jan. 5 – The new issue leveraged loan calendar started to build on Monday with Presidio Inc., Global Knowledge Training LLC, Angus Chemical Co., Hoover Container Solutions, Paris Presents Inc. and Stonewall Gas Gathering LLC all emerging with plans to hold bank meetings this week.

Presidio came out with timing, structure and price talk on its credit facility that will be used to help fund its buyout by Apollo Global Management LLC from American Securities LLC, according to a market source.

The deal is sized at $650 million and will launch with a bank meeting at 10:30 a.m. ET in New York on Wednesday, the source said.

Included in the facility is a $50 million revolver, and a $600 million seven-year first-lien covenant-light term loan talked at Libor plus 475 basis points with a 1% Libor floor, an original issue discount of 99 and 101 soft call protection for six months, the source continued.

Commitments are due on Jan. 20.

Credit Suisse Securities (USA) LLC, Barclays, Citigroup Global Markets Inc., RBC Capital Markets LLC and Goldman Sachs Bank USA are leading the deal.

Global Knowledge will hold a bank meeting for 12:30 p.m. ET in New York on Tuesday to launch a $245 million credit facility, according to a market source.

The facility consists of a $20 million revolver, a $175 million six-year first-lien covenant-light term loan and a $50 million seven-year second-lien covenant-light term loan.

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