Bank Loan Calendar: $9.805 billion deals being marketed

Upcoming Closings

ASSOCIATED MATERIALS: $550 million seven-year term B (B2/B) talked at SOFR plus 575 bps to 600 bps, 0.5% floor, OID 98.5, 101 soft call for six months; RBC, Credit Suisse, UBS, KKR, Macquarie, BMO and PNC; help fund buyout by Strategic Value Partners LLC; manufacturer and distributor of exterior building products.

CALLAWAY GOLF CO.: $950 million seven-year covenant-lite term 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; BofA Securities, JPMorgan, MUFG and Truist; refinance term loans, repay revolver borrowings and add cash to the balance sheet; Carlsbad, Calif., golf equipment and active lifestyle company.

COLIBRI GROUP (MCKISSOCK INVESTMENT HOLDINGS LLC): $875 million credit facilities; Jefferies, Macquarie, Capital One, Golub and SMBC; $50 million five-year revolver; $645 million seven-year first-lien term loan (B2/B) talked at SOFR+CSA plus 500 bps area, 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; $180 million privately placed second-lien term loan; help refinance existing debt and fund the acquisitions of Becker Professional Education and OnCourse Learning from Adtalem Global Education; St. Louis-based provider of career lifecycle management for mandatory professional education solutions.

COMPASS POWER GENERATION LLC: $650 million seven-year senior secured term B (B+) talked at SOFR plus 400 bps to 425 bps, 1% floor, OID 99, 101 soft call for six months; Morgan Stanley, MUFG, Credit Agricole and Truist; refinance existing loan; owner and operator of gas-fired power plants.

ENTEGRIS INC.: $2.495 billion seven-year senior secured covenant-lite term B (Baa3/BBB-) talked at SOFR plus 275 bps to 300 bps, 0% floor, OID 99.5, 101 soft call for six months; Morgan Stanley, Barclays, BofA Securities, Citigroup, PNC, Truist and Wells Fargo; help fund acquisition of CMC Materials Inc.; Billerica, Mass., supplier of advanced materials and process solutions for the semiconductor and other high-technology industries.

HEXION HOLDINGS CORP.: $1.825 billion of term loans; Goldman Sachs, RBC, Morgan Stanley, BofA Securities, Deutsche Bank, Barclays and Jefferies; $1.4 billion seven-year first-lien term loan (B2/B) talked at SOFR+10 bps CSA plus 425 bps to 450 bps, two leverage-based step-downs, 0.5% floor, OID 99 to 99.5, 101 soft call for six months; $425 million privately placed second-lien term loan (Caa2/B-); help fund buyout by American Securities LLC; Columbus, Ohio, supplier of thermoset resins

MAGNATE WORLDWIDE LLC: $300 million of term loans (B2/B); Citizens; $260 million seven-year covenant-lite first-lien term loan talked at Libor plus 500 bps to 525 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; $40 million delayed-draw covenant-lite term loan talked at Libor plus 500 bps to 525 bps, 0.75% Libor floor, OID 99; help fund buyout by Littlejohn & Co. LLC; asset-light third-party logistics provider with headquarters in Portland, Ore. and Chicago.

PLANET HOME LENDING LLC: $300 million five-year term loan (B1) talked at SOFR+CSA plus 425 bps to 450 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; M&T Bank; refinance existing debt and fund growth; mortgage lender.

SABRE: $625 million term loan due 2028 at SOFR+10 bps CSA plus 425 bps, 0.5% floor, OID 99, 101 hard call for one year; BofA Securities; refinance some term B debt due 2024; Southlake, Tex., software and technology company for the travel industry.

SPRUCE POWER HOLDINGS LLC: $600 million seven-year term B (B1/B) 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 six months; KeyBanc; refinance existing debt and fund a distribution to HPS Investment Partners; Houston-based owner and operator of distributed generation solar residential assets.

STORABLE INC.: $160 million of term loans; Credit Suisse; $130 million incremental covenant-lite first-lien term loan due April 2028 at SOFR plus 350 bps, 0.5% floor, OID 98.75, 101 soft call for six months; $30 million privately placed incremental second-lien term loan; fund a distribution to shareholders; Austin, Tex., provider of integrated technology solutions to the self-storage industry.

TRILLIUM FLOW TECHNOLOGIES: $75 million incremental term loan (B-) talked at SOFR+CSA plus 550 bps, CSA is 11.4 bps one-month rate, 26.2 bps three-month rate and 42.8 bps six-month rate, 1% floor, OID 99 area; BNP Paribas; fund acquisition of Termomeccanica Pompe; designer, manufacturer and aftermarket services provider of engineered valves and pumps.

TRONOX: $400 million seven-year first lien term loan (Ba2) talked at SOFR plus 275 bps to 300 bps, 0.5% floor, OID 99.5, 101 soft call for 6 months; Goldman Sachs, HSBC, Credit Suisse, Citigroup, BofA Securities, Barclays, BNP Paribas and Deutsche Bank; help refinance senior secured notes; Stamford, Conn., producer of titanium bearing mineral sands and titanium dioxide pigment.

VOYAGE DIGITAL (NZ) LTD.: NZ$1.35 billion equivalent U.S. and NZ seven-year senior secured covenant-lite term B (Ba3/B+) talked at SOFR plus 400-425 bps, 0.5% floor, OID 99 to 99.5, 101 soft call for six months; Morgan Stanley, Natixis, UBS, Deutsche Bank and ING; fund acquisition of Two Degrees Group Ltd. and repay existing debt; telecommunications company.

On The Horizon

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

BAUSCH + LOMB: New credit facilities; term loan; revolver; in connection with IPO to repay debt at Bausch Health Cos. Inc.; Vaughan, Ont., eye health company.

CARVANA CO.: New debt financing; JPMorgan and Citigroup; help fund acquisition of Adesa Inc.’s U.S. physical auction business; Tempe, Ariz., eCommerce used car platform.

CENTURY CASINOS INC.: $380 million senior secured credit facilities; Goldman Sachs; $30 million revolver; $350 million term loan; fund acquisition of 50% of Smooth Bourbon LLC and 100% of Nugget Sparks LLC from Marnell Gaming LLC; Colorado Springs, Colo., casino entertainment company.

CHURCHILL DOWNS INC.: New debt financing; help fund acquisition of Peninsula Pacific Entertainment LLC; Louisville, Ky., racetracks and casinos company.

CITRIX SYSTEMS INC.: $8.05 billion senior secured credit facilities; BofA Securities, Credit Suisse, Goldman Sachs, Barclays, Citigroup, Deutsche Bank, KKR, Mizuho, Morgan Stanley and RBC; $1 billion revolver; $7.05 billion term loan; help fund buyout by Vista Equity Partners and Evergreen Coast Capital Corp. and merger with Tibco Software; Fort Lauderdale, Fla., provider of secure, unified digital workspace technology.

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.

HOUGHTON MIFFLIN HARCOURT CO.: New debt financing; BofA Securities, JPMorgan, Deutsche Bank and Macquarie; help fund buyout by Veritas Capital; Boston-based learning technology company.

MONEYGRAM INTERNATIONAL INC.: $800 million senior secured credit facilities; Goldman Sachs, Deutsche Bank and Barclays; $100 million revolver; $700 million first-lien term loan; help fund buyout by Madison Dearborn Partners LLC; Dallas-based digital P2P payments company.

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

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.

RESTAURANT TECHNOLOGIES INC.: $910 million senior secured credit facilities; Morgan Stanley and BMO; $100 million revolver; $810 million first-lien term B; help fund buyout by ECP; provider of cooking-oil management and back-of-house hood and exhaust cleaning solutions.

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.

SPECTRUM BRANDS INC.: $500 million incremental loan; help fund acquisition of the home appliances and cookware categories of Tristar Products Inc.; Middleton, Wis., consumer products company.

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: New debt financing; help refinance existing debt in connection with an investment by Twilio Inc.; Tampa, Fla., provider of technology and business services for the telecommunications industry.

TEGNA INC.: New debt financing; RBC, BofA Securities, Goldman Sachs, Truist, BNP Paribas, Credit Suisse, Jefferies, Mizuho, TD Securities, Barclays, Deutsche Bank and MUFG; help fund buyout by Standard General; Tysons, Va., media company.

TENNECO: New debt financing; help fund buyout by Apollo; Lake Forest, Ill., designer, manufacturer and marketer of automotive products for original equipment and aftermarket customers.

VIALTO PARTNERS (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.

© 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.