High Yield Calendar

January 17 Week

EMBECTA CORP.: Expected $500 million senior secured notes; also $1.65 billion senior secured credit facilities via Morgan Stanley, JPMorgan, Citigroup, Wells Fargo, MUFG, US Bancorp, BNP Paribas to launch Jan. 18; to fund the spinoff of the company from Becton, Dickinson and Co., including cash distribution to Becton, Dickinson, expected to close in second quarter of 2022, and for general corporate purposes; diabetes care company.

EDREAMS ODIGEO SA: €375 million 5.5-year senior secured notes (Caa1/CCC+/B-); Deutsche Bank (global coordinator, bill and deliver), Barclays, Santander (global coordinators); non-callable for two years; to refinance debt; Barcelona, Spain-based travel company; expected Jan. 17 week business.

On The Horizon

ENTEGRIS INC.: Up to $895 million 364-day senior unsecured bridge loan, and up to $4 billion term loan B; Morgan Stanley; proceeds plus cash on hand to fund the cash portion of the acquisition of CMC Materials Inc., expected to close in the second half of 2022, also refinance certain CMC and Entegris debt, to fund working capital and for general corporate purposes; Billerica, Mass.-based Entegris and Aurora, Ill.-based CMC Materials supply products and services to the semiconductor industry; financing disclosed in 8-K filed with SEC on Dec. 16.

MCAFEE CORP.: $2.32 billion senior unsecured bridge facility, which may be replaced with senior notes; also $7.66 billion credit facilities; debt commitment from JPMorgan, BofA, Credit Suisse, Barclays, Citigroup, HSBC, RBC, CPPIB, UBS, PSP; to help fund its acquisition by an 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, expected to close in first half of 2022; San Jose, Calif.-based provider of online protection for consumers; information from 8-K filed with SEC on Nov. 8.

PRINCE INTERNATIONAL CORP.: $1.26 billion senior notes and $2.27 billion credit facilities, debt commitment from Barclays and Credit Suisse; proceeds plus $200 million of equity to help fund its acquisition of Ferro Corp., expected to close in the first quarter of 2022; Prince is a Houston-based supplier of specialty products for niche applications in the construction, electronics, consumer products, agriculture, automotive, oil & gas, industrial and other end markets; disclosed in PREM14A filed with SEC.

SPX FLOW INC.: $570 million senior unsecured bridge loan expected to be replaced by senior notes issue; also $1.74 billion senior secured credit facilities; debt commitment from Citigroup, BofA, RBC, Truist, BNP Paribas, Deutsche Bank; to help fund buyout by Lone Star Funds, expected to close in first half of 2022, to refinance debt and for general corporate purposes; Charlotte, N.C.-based provider of process solutions for the nutrition, health and industrial markets; disclosed in PREM14A filed on Jan. 11 with SEC.

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