High Yield Calendar: No deals being marketed

On The Horizon

AMC ENTERTAINMENT HOLDINGS INC.: $325 million senior subordinated notes; also commitment for $675 million incremental term loan B via Citigroup; to help fund its acquisition of Stockholm-based cinema operator Nordic Cinema Group Holding AB, expected to close in the second quarter of 2017; Leawood, Kan.-based movie exhibition company.

AMERICAN AXLE & MANUFACTURING HOLDINGS INC.: $1.2 billion senior unsecured bridge and $2.45 billion senior secured credit facility; JPMorgan; to fund the acquisition of Metaldyne Performance Group Inc., expected to close during the first half of 2017; American Axle is a Detroit-based manufacturer and designer of driveline and drivetrain systems and related components and modules, chassis systems, electric drive systems and metal-formed products; Metaldyne is a Plymouth, Mich.-based provider of highly engineered lightweight components for use in powertrain and suspension applications for the vehicle markets.

CENTURYLINK: $2.15 billion senior secured bridge loan launched Feb. 10 via Morgan Stanley (other banks involved in the debt commitment include Bank of America, MUFG, Barclays, JPMorgan, Wells Fargo, RBC, Goldman Sachs, SunTrust, Mizuho, Regions Bank, Fifth Third, Credit Suisse and U.S. Bank); help fund acquisition of Level 3 Communications Inc., expected to close in the third quarter of 2017; Monroe, La., communications, hosting, cloud and IT services company.

ELDORADO RESORTS INC.: $375 million eight-year senior notes; also $1.75 billion credit facility; J.P. Morgan Securities LLC is the lead bank on the debt; to help fund its acquisition of Isle of Capri Casinos Inc., expected to close in the second quarter of 2017; Eldorado Resorts is a Reno, Nev.-based casino entertainment company; Isle of Capri is a St. Louis-based gaming and entertainment company.

EXAMWORKS GROUP INC.: $340 million eight-year senior notes; BofA Merrill Lynch, Barclays, Deutsche Bank Securities Inc. and SunTrust Robinson Humphrey Inc.; also $920 million credit facility; help fund buyout by Leonard Green & Partners LP; Atlanta-based provider of independent medical examinations, peer reviews, bill reviews, Medicare compliance, case management and related services; was expected as June 2016 business.

GARTNER INC.: $600 million senior unsecured high-yield bridge facility (pricing Libor plus 450 bps, 1% Libor floor, 50 bps step-ups every 90 days), expected to be replaced with senior notes, and an up to $300 million 364-day senior unsecured bridge facility (Libor plus 275 bps, 25 bps after step-up after 180 days, plus 25 bps every 90 days thereafter); also $1.38 billion seven-year term loan; JPMorgan and Goldman Sachs provided the debt commitment; to help fund its acquisition of CEB Inc., expected to close in the first half of 2017; Gartner is a Stamford, Conn.-based information technology research and advisory; CEB is an Arlington, Va.-based best practice insight and technology company; details disclose in Jan. 5 8-K document.

GODADDY INC.: $530 million bridge financing and $1,377,000,000 incremental term loan; to help fund the acquisition of Host Europe Group from Cinven, expected in the second quarter of 2017; GoDaddy is Scottsdale, Ariz.-based provider of web hosting and domain names; Host Europe is an England-based hosting provider and domain registrar.

LESLIE'S POOLMART INC.: $390 million senior notes, downsized from $420 million with the upsizing of the term loan to $810 million from $780 million (term loan, via Nomura, launched in late July 2016); to refinance debt and fund a dividend; Phoenix-based retailer of swimming pool supplies and related products.

MEDICAL PROPERTIES TRUST, INC.: Expected benchmark euro-denominated notes, eight-year maturity expected (Ba1/BBB-); Credit Agricole CIB, Goldman Sachs & Co.; Birmingham, Ala.-based self-advised real estate investment trust focused on investing in and owning net-leased health care facilities.

MMI INTERNATIONAL LTD. $300 million senior secured notes due 2021 (expected ratings B2/B+); Goldman Sachs & Co. (left books), ANZ, KKR, Standard Chartered (joint books); Rule 144A and Regulation S; pay down term loan A; Singapore-based technology company with a focus on key components for the hard disk drive industry; international roadshow ran in late October into early November; initial guidance 9% area.

TEEKAY OFFSHORE PARTNERS LP: $250 million minimum bonds due in 2018 and 2019 to be offered in the U.S. and Norwegian markets, expected to receive third-party credit ratings as energy markets improve; to refinance debt; Hamilton, Bermuda-based provider of marine transportation, oil production, storage, towage and maintenance and safety services to the oil industry; announced in June 17, 2016 press release.

TELEFLEX INC.: Possible senior notes could come as an opportunistic deal to repay bank debt; also $750 million term loan to fund the acquisition of Vascular Solutions Inc., expected to close in the first half of 2017 (company has received a commitment from JPMorgan Chase Bank for a new $750 million senior unsecured bridge facility in connection with the planned acquisition); Teleflex is a Wayne, Pa.-based provider of medical technologies; Vascular Solutions is a Minneapolis-based medical device company; disclosed during Dec. 2 conference call.

UNITED RENTALS, INC.: New underwritten debt issue to help fund the Chicago-based NES Rentals Holdings II, Inc. for $965 million in cash, expected to close in the second quarter of 2017; financing will also make use of a draw on the asset-based facility; United Rentals is a Stamford, Conn., equipment rental company.

U.S. XPRESS ENTERPRISES INC.: $320 million eight-year senior notes (B3/B+); J.P. Morgan Securities LLC, Wells Fargo Securities LLC (joint); non-callable for three years; to repay term loan and 2007 restated term loan; Chattanooga, Tenn.-based intermodal freight company.

VALEANT PHARMACEUTICALS INTERNATIONAL INC.: Possible secured notes with five-year minimum maturity; to repay existing credit facilities; disclosed as part of a credit amendment launched Aug. 9 via Barclays; Laval, Quebec-based pharmaceutical company.

© 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.