Bank Loan Calendar: $12.315 billion deals being marketed

March Bank Meetings

Upcoming Closings

CENTURY CASINOS INC.: $380 million senior secured credit facilities; Goldman Sachs and BofA Securities; $30 million five-year super priority revolver (Ba3/BB-); $350 million seven-year covenant-lite term loan (B3/B) talked at SOFR+CSA plus 575 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.75% floor, OID 98, 101 hard call for one year; help fund acquisition of 50% of Smooth Bourbon LLC and 100% of Nugget Sparks LLC from Marnell Gaming LLC, refinance existing debt and fund development capital expenditures; Colorado Springs, Colo., casino entertainment company.

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.

FOREFRONT DERMATOLOGY (DERMATOLOGY INTERMEDIATE HOLDINGS III INC.): $730 million credit facilities (B2/B); Credit Suisse, Deutsche Bank, RBC, UBS and Natixis; $95 million revolver; $635 million seven-year first-lien term loan (including $100 million delayed-draw tranche) talked at SOFR plus 450 bps, 0.5% floor, OID 98 to 98.5, 101 soft call for six months; help fund buyout by Partners Group from Omers Private Equity; Manitowoc, Wis., dermatology physician practice.

NOVOLEX HOLDINGS LLC (CLYDESDALE ACQUISITION HOLDINGS INC.): $2.63 billion seven-year sustainability-linked first-lien term loan (B2) talked at SOFR+10 bps CSA plus 425 bps, 0.5% floor, OID 96, 101 soft call for six months; Credit Suisse, Morgan Stanley, Goldman Sachs, Barclays, Deutsche Bank, RBC, Wells Fargo, BNP Paribas, MUFG, HSBC, BMO, Mizuho and Macquarie; help fund buyout by Apollo Global Management from Carlyle; Hartsville, S.C., manufacturer of packaging products for the foodservice, delivery and carryout, food processor and industrial markets.

OWENS & MINOR INC.: $1.2 billion seven-year term B (Ba3/BB-/BB+) talked at SOFR+10 bps CSA plus 375 bps, 0.5% floor, OID 98.5, 101 soft call for six months; JPMorgan; help fund acquisition of Apria Inc.; Richmond, Va., healthcare solutions company.

RESTAURANT TECHNOLOGIES INC.: Expected closing early April; $910 million senior secured credit facilities (B2/B); Morgan Stanley, BMO, RBC and Credit Suisse; $100 million revolver; $810 million seven-year covenant-lite green first-lien term B at SOFR plus 425 bps, 0 bps CSA, 0.5% floor, OID 97.5, 101 soft call for six months; help fund buyout by ECP from Goldman Sachs Asset Management; provider of cooking-oil management and back-of-house hood and exhaust cleaning solutions.

SKILLSOFT: $160 million senior secured incremental first-lien term loan (B2/B-) due July 16, 2028 talked at SOFR+CSA plus 500 bps, CSA is 11.448 bps one-month rate, 26.161 bps three-month rate, 42.826 bps six-month rate and 71.513 bps for 12-month rate, 0.75% floor, OID 98.625, hard call 102 through July 16, 2022; Barclays and Citigroup; help fund acquisition of Codecademy; Dublin-based provider of cloud-based learning services.

SMYRNA READY MIX CONCRETE LLC: $650 million seven-year term B (Ba3/B+) talked at SOFR+CSA plus 400 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, OID 97.5 to 98, 101 soft call protection for six months; JPMorgan; fund acquisitions and general corporate purposes; Nashville, Tenn., manufacturer and retailer of ready-mixed concrete.

SPX FLOW INC.: Expected closing in first week of April; $1.81 billion senior secured credit facilities (B2/B-); Citigroup, BofA Securities, RBC, Truist, BNP Paribas, Deutsche Bank and UBS; $200 million five-year revolver; $1.61 billion seven-year covenant-lite first-lien term B at SOFR+10 bps CSA plus 450 bps, 0.5% floor, OID 95.5, 101 soft call for one year; help fund buyout by Lone Star Funds and refinance some existing debt; Charlotte, N.C., provider of process solutions for the nutrition, health and industrial markets.

TANK HOLDING CORP.: $1.685 billion six-year unitranche facility talked at SOFR+CSA plus 600 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.75% floor; Antares; refinance existing credit facilities and pay a dividend; Lincoln, Neb., manufacturer of proprietary rotational molded polyethylene and steel storage tanks and containers.

TRONOX: Expected closing April 4; $400 million seven-year first lien term loan (Ba2/BB) at SOFR plus 325 bps, 0.5% floor, OID 99, 101 soft call for six 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.

VICTRA (LSF9 ATLANTIC HOLDINGS LLC): $600 million seven-year term B (B2/B/B+) talked at SOFR plus 700 bps to 725 bps, 0.75% floor, OID 98, 101 soft call for one year; Truist; fund acquisition of Go Wireless Holdings Inc.; Raleigh, N.C., retailer for wireless products and services.

VOYAGE DIGITAL (NZ) LTD.: Expected closing in April; $510 million seven-year senior secured covenant-lite term B (Ba3/B+) at SOFR plus 450 bps, 0 bps CSA, 0.5% floor, OID 98.5, 101 soft call for six months; Morgan Stanley, Natixis, UBS, Deutsche Bank and ING; also NZ$600 million term loan; fund acquisition of Two Degrees Group Ltd. and repay existing debt; telecommunications company.

On The Horizon

ACS SOLUTIONS: New debt financing; BofA Securities, Fifth Third and BMO; fund acquisition of Volt Information Sciences Inc.; Atlanta-based provider of information technology solutions and services.

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

AZZ INC.: $1.825 billion senior secured credit facilities; Citigroup and Wells Fargo; $300 million five-year revolver expected at SOFR plus 375 bps, 0% floor; $1.525 billion seven-year covenant-lite term loan expected at SOFR+CSA plus 375 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, 101 soft call for six months; help fund acquisition of Sequa Corp.’s Precoat Metals business division; Fort Worth, Tex., provider of galvanizing and metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services.

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.

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.: $2.12 billion senior secured credit facilities; BofA Securities, JPMorgan, Deutsche Bank, Macquarie, Citizens, Goldman Sachs and Mizuho on first-lien; JPMorgan, BofA Securities, Deutsche Bank and Macquarie on second-lien; $250 million five-year revolver expected at SOFR plus 450 bps, two 25 bps step-downs based on first-lien leverage, 0% floor; $1.48 billion seven-year covenant-lite first-lien term loan expected at SOFR plus 450 bps, three 25 bps step-downs based on first-lien leverage, 0% floor, 101 soft call for six months; $390 million eight-year covenant-lite second-lien term loan expected at SOFR plus 800 bps, 0.5% floor, call protection 102, 101; help fund buyout by Veritas Capital; Boston-based learning technology company.

INTERTAPE POLYMER GROUP INC.: New debt financing; Credit Suisse, Deutsche Bank and Wells Fargo; help fund buyout by Clearlake Capital Group LP; Montreal and Sarasota, Fla.-based manufacturer of paper and film-based pressure-sensitive and water-activated tapes, stretch and shrink films, protective packaging, woven and non-woven products and packaging machinery.

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.

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.

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.

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: $3 billion senior secured credit facilities; $600 million revolver; $2.4 billion first-lien term loan; help fund buyout by Apollo; Lake Forest, Ill., designer, manufacturer and marketer of automotive products for original equipment and aftermarket customers.

VERTEX CO.: Additional first-lien credit facility debt; refinance debt at Vectrus Inc. in connection with merger; provider of integrated solutions and critical service offerings.

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.

ZEBRA TECHNOLOGIES: New credit facility financing; help fund acquisition of Matrox Imaging; Lincolnshire, Ill., provider of hardware, software, services and solutions that digitize and automate workflows.

© 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.