Bank Loan Calendar: $32.568 billion deals being marketed

January Bank Meetings

AMERICAN AUTO AUCTION GROUP LLC (XLERATE GROUP): Bank meeting Jan. 13; $810 million credit facilities; Jefferies, BofA Securities and BMO; $60 million five-year revolver; $570 million six-year first-lien term loan, CSA of 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.75% floor, 101 soft call for six months; $180 million seven-year second-lien term loan, CSA of 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.75% floor, call protection 102, 101; help fund acquisition of America’s Auto Auction by Brightstar Capital Partners-owned XLerate Group; vehicle auction company.

INTELSAT JACKSON HOLDINGS SA: Lender call Jan. 13; up to $3.375 billion DIP-to-exit seven-year term loan (of which $2.875 billion will be syndicated) (B+), 101 soft call for six months; Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs and JPMorgan; help fund emergence from Chapter 11; Luxembourg-based satellite telecommunications company.

NORTONLIFELOCK: Lender call Jan. 13; $5.35 billion of term loans (BB/BBB-); BofA Securities, Wells Fargo, Scotia, Mizuho, Truist, MUFG, BNP Paribas and BMO; up to $3.6 billion seven-year term B, 0.5% floor, 101 soft call for six months; $1.75 billion five-year term A; help fund acquisition of Avast; Tempe, Ariz., cybersecurity provider.

RELADYNE INC.: Lender call Jan. 13; $855 million credit facilities; RBC, BMO, KeyBanc, Macquarie and Golub; $150 million ABL revolver; $540 million seven-year first-lien term loan; $165 million eight-year privately placed second-lien term loan; support recently completed buyout by American Industrial Partners from Audax Private Equity and refinance existing term loans; Cincinnati-based provider of lubricants and distributor of less-than-truckload fuel, diesel exhaust fluid, chemicals and other related products.

SYSTEM ONE HOLDINGS LLC: Lender call Jan. 13; $30 million add-on term loan; Truist; fund an acquisition, repay revolver borrowings and general corporate purposes; Pittsburgh-based provider of specialized workforce solutions and integrated services.

TAYLORMADE GOLF CO.: Lender call Jan. 13; $1.05 billion seven-year term loan B (B1/B) talked at SOFR+CSA plus 325 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, OID 99 to 99.5, 101 soft call for six months; JPMorgan; refinance existing debt and general corporate purposes; Carlsbad, Calif., sports equipment manufacturing company.

Upcoming Closings

ADDISON GROUP: $590 million credit facilities; KKR and Credit Suisse; $525 million term B (B) talked at Libor plus 450 bps, 0.5% Libor floor, OID 99, 101 soft call for six months; $65 million ABL revolver; help fund buyout by Trilantic North America from Odyssey Investment Partners LLC; Chicago-based professional services firm specializing in talent solutions and consulting services.

ARXADA (HERENS US HOLDCO CORP.): CHF 621 million equivalent U.S. and euro add-on term B (split about 50/50) (B) due July 2028; Deutsche Bank, UBS, Credit Suisse, RBC, CACIB, Intesa, MUFG, Societe Generale, Standard Chartered and UniCredit; U.S. add-on term B talked at Libor plus 400 bps, 0.75% Libor floor, OID 99 to 99.5; euro add-on term B talked at Euribor plus 400 bps, 0% floor, OID 99 to 99.5; help fund already completed acquisitions of Troy Corp. and Enviro Tech Chemical Services; Basel, Switzerland, specialty chemicals company.

COVIS PHARMA: $350 million five-year senior secured term B (B2/B) talked at SOFR+CSA plus 625 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.75% floor, OID 98 to 99, 101 soft call for six months; Barclays; help refinance existing debt; Luxembourg-based pharmaceutical company.

CROCS INC.: $2 billion seven-year senior secured first-lien term B (Ba2/BB-) talked at SOFR+CSA plus 325 bps to 350 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, OID 99.5, 101 soft call for six months; Citigroup, PNC, BofA Securities and Morgan Stanley; help fund acquisition of Heydude; Broomfield, Colo., based casual footwear company.

FLUIDRA (ZODIAC POOL SOLUTIONS LLC): €1.1 billion of term loans (Ba2); BBVA (sustainability coordinator), Citigroup (left on U.S.), HSBC (left on euro), BofA Securities, BNP Paribas, JPMorgan and Santander; €650 million equivalent U.S. seven-year covenant-lite term B talked at SOFR+CSA plus 200 bps to 225 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, OID 99.5, 101 soft call for six months; €450 million euro seven-year covenant-lite term B talked at Euribor plus 225 bps, 0% floor, OID 99.5, 101 soft call for six months; refinance existing debt and general corporate purposes; Sabadell, Spain, provider of pool equipment and wellness solutions.

GOLDEN NUGGET LLC (FERTITTA ENTERTAINMENT LLC): $3.95 billion credit facilities (B2/B); Jefferies; $500 million five-year revolver; $3.45 billion seven-year first-lien term loan at SOFR+CSA plus 400 bps, two leverage-based step-downs, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, OID 99.75, 101 soft call for six months; help refinance existing debt; diversified restaurant, hospitality, entertainment and gaming company.

GRIFFON CORP.: Expected closing Jan. 24 week; $750 million seven-year covenant-lite term B (Ba2/BB) talked at SOFR+CSA plus 350 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, OID 99 to 99.5, 101 soft call for six months; BofA Securities, BNP Paribas, Deutsche Bank and Wells Fargo; help fund acquisition of Hunter Fan Co. from MidOcean Partners; New York-based diversified management and holding company.

HUDSON RIVER TRADING LLC: $100 million incremental first-lien term B due March 18, 2028 talked at SOFR+CSA plus 300 bps, CSA is 0.11448% for one month, 0.26161% for three months and 0.42826% for six months, 0% floor, OID 98.56; Goldman Sachs, BofA Securities and JPMorgan; general corporate purposes; New York-based electronic market maker and liquidity provider.

IDERA INC.: $64 million incremental first-lien term loan (B2/B-) due March 2028 at Libor plus 375 bps, 0.75% Libor floor, OID 99.5; Jefferies; fund an acquisition; Houston-based provider of database, application development and testing software.

LIBERTY TIRE RECYCLING LLC (LTR INTERMEDIATE HOLDINGS INC.): $150 million add-on green senior secured covenant-lite term B (B3/B) due May 7, 2028 talked at Libor plus 450 bps, 1% Libor floor, OID 98.57, 101 soft call for six months; Morgan Stanley; fund acquisition of Rubberecycle; Pittsburgh-based provider of tire recycling services.

MARAVAI LIFESCIENCES (MARAVAI INTERMEDIATE HOLDINGS LLC): $545.5 million senior secured covenant-lite term B (B1/B+) due Oct. 19, 2027 talked at SOFR plus 300 bps to 325 bps, 0.5% floor, issue price par, 101 soft call for six months; Morgan Stanley; repricing; San Diego-based provider of life science reagents and services.

MI WINDOWS AND DOORS INC. (MIWD HOLDCO II LLC): $451 million term B (Ba3/BB/BB+) talked at SOFR+CSA plus 350 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, issue price par, 101 soft call for six months; RBC; repricing; Gratz, Pa., manufacturer of vinyl, aluminum and fiberglass windows and patio doors.

MICRO FOCUS INTERNATIONAL PLC: $1.6 billion equivalent U.S. and euro five-year senior secured term B (B1); JPMorgan, HSBC, NatWest, Citigroup, BofA Securities and Goldman Sachs; $1.1 billion U.S. term loan talked at SOFR+CSA plus 375 bps to 400 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, OID 99, 101 soft call for one year; €442 million euro term loan talked at Euribor plus 400 bps to 425 bps, 0% floor, OID 99.5, 101 soft call for one year; refinance a portion of an existing U.S. term B and a euro term B; Newbury, England, enterprise software company.

MJH LIFE SCIENCES: $650 million seven-year term B (B2/B-) talked at SOFR+CSA plus 400 bps to 425 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, OID 99 to 99.5, 101 soft call for six months; BofA Securities and PNC; help fund acquisition of a majority interest by BDT Capital Partners LLC; Cranbury, N.J., medical media company.

NORTH AMERICAN BANCARD (NAB HOLDINGS LLC): $300 million incremental covenant-lite first-lien term loan (B1/B+) due Nov. 23, 2028 talked at SOFR+CSA plus 300 bps, 25 bps step-down at 2.85x net senior secured leverage, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, OID 99.25 to 99.5, 101 soft call through May 23, 2022; Credit Suisse; fund acquisition of CardWorks; Troy, Mich., provider of payment processing solutions.

POWER STOP LLC: $435 million credit facilities (B3); Jefferies and Antares; $40 million five-year revolver; $395 million seven-year first-lien term loan talked at Libor plus 475 bps, 0.5% Libor floor, OID 99, 101 soft call for six months; refinance existing debt and fund a distribution to shareholders; manufacturer of aftermarket automotive brake kits.

QUEST SOFTWARE: $3.575 billion of term loans; Goldman Sachs (left on first-lien), Morgan Stanley (left on second-lien), BofA Securities, BMO, Barclays, Citigroup, Credit Suisse, Golub, HSBC, Security Benefit, Wells Fargo, Citizens, Clearlake Capital, Antares, Deutsche Bank, CBAM, BNP Paribas, SVB, UBS and SPC; $2.71 billion seven-year first-lien term B (B2/B-) talked at SOFR plus 400 bps to 425 bps, 25 bps step-down at 0.5x inside closing date first-lien leverage and 25 bps step-down upon an IPO, 0.5% floor, OID 99 to 99.5, 101 soft call for six months; $865 million eight-year second-lien term loan (Caa2/CCC+) talked at SOFR plus 725 bps to 750 bps, 0.5% floor, OID 98.5 to 99, call protection 102, 101; help fund buyout by Clearlake Capital Group LP from Francisco Partners; cybersecurity, data intelligence and IT operations management software provider.

RV RETAILER: $796 million term B (including $200 million incremental) (B1/BB-) due February 2028 talked at SOFR+CSA plus 350 bps to 375 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.75% floor, OID 99.5 on incremental, issue price par on repricing, 101 soft call for six months; Goldman Sachs; fund near-term acquisition pipeline and repricing; recreational vehicle retail company.

SIMPLY GOOD FOODS (ATKINS NUTRITIONAL): $431.5 million first-lien term B due July 7, 2024 talked at SOFR+CSA plus 325 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, issue price par, 101 soft call for six months; Barclays, Deutsche Bank, BMO and Goldman Sachs; repricing; Denver-based developer, marketer and seller of nutritional foods and snacking products.

SRS DISTRIBUTION INC.: $800 million incremental term loan (B2/B-) due 2028 at SOFR+10 bps CSA plus 350 bps, 25 bps step-down at 3.6x net first-lien leverage, 0.5% floor, OID 99.5, 101 soft call for six months; BofA Securities and Barclays; help fund acquisitions, including recently completed purchase of AquaCentral from Tenex Capital Management, and general corporate purposes; McKinney, Tex., building materials distributor.

SUMMIT BEHAVIORAL HEALTHCARE LLC: $150 million incremental first-lien term loan talked at Libor plus 475 bps, 0.75% Libor floor, OID 97; Jefferies; fund acquisition of Strategic Behavioral Health; Franklin, Tenn.-based behavioral health services provider with a focus on the substance use disorder and acute psychiatric treatment end markets.

TRAC (STONEPEAK TARUS LOWER HOLDINGS LLC): $350 million eight-year second-lien term loan (Caa1/B+) talked at SOFR+CSA of 10 bps plus 700 bps, 0.5% floor, OID 98 to 98.5, call protection 102, 101; Credit Suisse; fund a distribution to the sponsor; marine chassis pool manager and equipment provider.

TROPICANA (NAKED JUICE LLC): $2.42 billion of term loans; Credit Suisse (left on first-lien), BofA Securities (left on second-lien), Rabobank, Barclays, RBC, Citigroup, Jefferies and SMBC; $1.9 billion seven-year first-lien term loan (including $150 million delayed-draw tranche) (B) talked at SOFR+10 bps CSA plus 375 bps, 0.5% floor, OID 99 to 99.5, 101 soft call for six months; $520 million eight-year second-lien term loan (CCC+) talked at SOFR+10 bps CSA plus 650 bps, 0.5% floor, OID 99, call protection 102, 101; help fund the acquisition of a 61% ownership stake in juice brands by PAI Partners from PepsiCo Inc. and formation of a joint venture; portfolio of juice brands.

VACO HOLDINGS LLC: $640 million credit facilities (B2/B); Jefferies, Antares and KKR; $40 million five-year revolver; $600 million seven-year first-lien term loan talked at SOFR+CSA plus 525 bps to 550 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.75% floor, OID 99, 101 soft call for six months; repay existing debt and make a shareholder distribution; provider of staffing and consulting services.

On The Horizon

AHF PRODUCTS LLC: $215 million first-lien term loan (B2/B); UBS and KeyBanc; help fund buyout by Paceline Equity Partners from American Industrial Partners; Mountville, Pa., manufacturer of hardwood and vinyl flooring.

AMENTUM HOLDINGS LLC: New debt financing; help fund acquisition of PAE Inc.; Germantown, Md., technical and engineering services partner.

ARISTOCRAT LEISURE LTD.: $2.05 billion term B; UBS and Goldman Sachs; help fund acquisition of Playtech; North Ryde, Australia, provider of gaming solutions.

BROOKFIELD BUSINESS PARTNERS LP: New debt financing; Barclays, Deutsche Bank, BNP Paribas, Credit Agricole, Macquarie and RBC; help fund acquisition of Scientific Games Corp.’s lottery services and technology business; business services and industrials company.

CYRUSONE INC.: Up to $12 billion equivalent debt financing; Barclays, Goldman Sachs, Wells Fargo and Citigroup; up to $4 billion U.S. short tenor loan; up to $5 billion U.S. balance sheet loan; up to $1.5 billion equivalent euro EU balance sheet loan; up to $1.5 billion revolver; help fund buyout by KKR and Global Infrastructure Partners; Dallas-based data center REIT.

DODGE CONSTRUCTION NETWORK: New debt financing; Deutsche Bank, UBS, Wells Fargo, BMO and Security Benefit; help support significant new equity investment from Clearlake Capital Group LP; Hamilton, N.J., data platform supporting the commercial construction industry.

EMERALD EMS: $295 million credit facilities; UBS and Barclays; $45 million revolver; $250 million first-lien term loan; help fund already completed buyout by Crestview Partners from New Water Capital; Salem, N.H., high-tech electronics manufacturing services and design firm.

ENTEGRIS INC.: Up to $4 billion senior secured first-lien term loan B; Morgan Stanley; help fund acquisition of CMC Materials Inc., refinance some debt and general corporate purposes; Billerica, Mass., supplier of advanced materials and process solutions for the semiconductor and other high-technology industries.

FLOWORKS: New debt financing; RBC, Jefferies, UBS, Wells Fargo, BNP Paribas and Audax; help support recently completed acquisition of SemiTorr Group; specialty flow control distribution platform.

GLOBAL MOBILITY TAX AND IMMIGRATION SERVICES: New debt financing; Deutsche Bank, JPMorgan, UBS, BMO, BNP Paribas, Mizuho, RBC and Societe Generale; help fund buyout by Clayton, Dubilier & Rice from PwC; provider of compliance, consulting and technology services for employers and their mobile employees.

HEXION HOLDINGS CORP.: New debt financing; help fund buyout by American Securities LLC; Columbus, Ohio, supplier of thermoset resins

MCAFEE CORP.: $7.66 billion credit facilities; JPMorgan, BofA Securities, Credit Suisse, Barclays, Citigroup, HSBC, RBC, CPPIB, UBS, PSP Investments, BMO, KKR, Macquarie, Mizuho, MUFG, Nomura, Wells Fargo, BNP Paribas, CIBC, Citizens, Credit Agricole, Fifth Third, Intesa Sanpaolo, KeyBanc, Natixis, Societe Generale, Standard Chartered, Stifel, SMBC, TD Securities and Scotia; $1 billion revolver; $6.66 billion first-lien term loan; help fund buyout by investor group led by Advent International Corp., Permira Advisers LLC, Crosspoint Capital Partners, Canada Pension Plan Investment Board, GIC Private Ltd. and Abu Dhabi Investment Authority; San Jose, Calif., provider of online protection for consumers.

OWENS & MINOR INC.: $1.9 billion term B; JPMorgan; help fund acquisition of Apria Inc.; Richmond, Va., healthcare solutions company.

PRINCE INTERNATIONAL CORP.: $2.27 billion credit facilities; Barclays and Credit Suisse; $325 million revolver; $1.945 billion first-lien term loan; help fund acquisition of Ferro Corp. and merger with Chromaflo Technologies; Houston-based manufacturer of performance-critical specialty products for niche applications in the construction, electronics, consumer products, agriculture, automotive, oil & gas, industrial and other end markets.

QUIDEL CORP.: New debt financing; help fund acquisition of Ortho Clinical Diagnostics Holdings plc; San Diego, Calif., manufacturer of diagnostic solutions at the point of care.

SKILLSOFT: Up to $160 million senior secured incremental term loan; Barclays and Citigroup; help fund acquisition of Codecademy; Dublin-based provider of cloud-based learning services.

SPX FLOW INC.: $1.74 billion senior secured credit facilities; Citigroup, BofA Securities, RBC, Truist, BNP Paribas and Deutsche Bank; $200 million five-year revolver; $1.54 billion seven-year first-lien term loan; help fund buyout by Lone Star Funds, refinance some existing debt and general corporate purposes; Charlotte, N.C., provider of process solutions for the nutrition, health and industrial markets.

SS&C TECHNOLOGIES INC.: Up to $1.68 billion of incremental term loans; RBC, Credit Suisse, Citigroup, Goldman Sachs and JPMorgan; help fund acquisition of Blue Prism Group plc; Windsor, Conn., provider of services and software for the financial services and healthcare industries.

SYNIVERSE: $1.165 billion credit facilities; Barclays, Goldman Sachs, BofA Securities, Credit Suisse, Deutsche Bank and Mizuho; $165 million five-year revolver; $1 billion seven-year term loan; help refinance existing debt in connection with merger with M3-Brigade Acquisition II Corp.; Tampa, Fla., provider of technology and business services for the telecommunications industry.

VIASAT INC.: New debt financing; help fund acquisition of Inmarsat; Carlsbad, Calif., communications company.

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