Bank Loan Calendar: $19.641 billion deals being marketed

May Bank Meetings

BRP INC. (BOMBARDIER RECREATIONAL PRODUCTS INC.): Lender call May 3; $500 million incremental term loan; RBC and Citigroup; general corporate purposes, including to repay revolver borrowings and fund an issuer bid to purchase subordinate voting shares; Valcourt, Quebec, designer, manufacturer, distributor and marketer of motorized recreational vehicles and powersports engines.

CAMBREX CORP.: Lender call May 3; $75 million incremental first-lien term loan due December 2026 talked at SOFR+10 bps CSA plus 350 bps, 0.75% floor; RBC; fund a small acquisition and repay revolver borrowings; East Rutherford, N.J., small molecule company providing drug substance, drug product and analytical services.

THERM-O-DISC INC.: Lender call May 3; $520 million credit facilities; Morgan Stanley; $65 million revolver; $355 million senior secured first-lien term loan; $100 million second-lien term loan; help fund buyout by One Rock Capital Partners LLC from Emerson; Mansfield, Ohio, designer and manufacturer of safety-critical sensors, thermal cutoffs and sealed connecting components.

Upcoming Closings

ARISTOCRAT TECHNOLOGIES: $2.35 billion credit facilities (Ba1//BBB-); BofA Securities; $500 million revolver; $1.35 billion term A; $500 million term B talked at SOFR+10 bps CSA plus 250 bps, 0.5% floor, OID 99, 101 soft call for six months; refinance existing term B and increase liquidity; North Ryde, Australia, provider of gaming solutions.

AZZ INC.: $1.7 billion senior secured credit facilities (Ba3/B); Citigroup, Wells Fargo, Barclays, CIBC and US Bank; $400 million five-year revolver; $1.3 billion seven-year covenant-lite term B talked at SOFR+10 bps CSA plus 375 bps, 25 bps step-down at 0.5x inside closing date first-lien net leverage, 0.5% floor, OID 98, 101 soft call for six months; help fund acquisition of Sequa Corp.’s Precoat Metals business division and refinance existing debt; Fort Worth, Tex., provider of galvanizing and metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services.

BARRACUDA NETWORKS INC.: $1.72 billion credit facilities; UBS (left on first-lien), KKR (left on second-lien), Barclays, Jefferies, PSP, SVB, Stone Point and Wells Fargo; $150 million revolver; $1.115 billion seven-year first-lien term loan talked at SOFR plus 400 bps to 425 bps, 0.5% floor, OID 99, 101 soft call for six months; $455 million eight-year second-lien term loan talked at SOFR plus 675 bps to 700 bps, 0.5% floor, OID 99, hard call 102, 101; help fund buyout by KKR from Thoma Bravo; provider of cybersecurity solutions.

BAUSCH + LOMB: $2.5 billion five-year first-lien term loan (Ba2/B+/BB+) talked at SOFR+10 bps CSA plus 325 bps to 350 bps, 0.5% floor, OID 98.5, 101 soft call for six months; Goldman Sachs, Morgan Stanley, Citigroup, JPMorgan and Barclays; repay intercompany loan at Bausch Health Cos. Inc. in connection with spin-off; Vaughan, Ont., eye health company.

BLACKSTONE MORTGAGE TRUST INC.: $500 million incremental term B-4 (Ba2//BB) due 2029 at SOFR plus 350 bps, 0.5% floor, OID 98.5; JPMorgan; repay secured debt; New York-based real estate finance company.

DAYCO PRODUCTS LLC: $470 million term B (B3) due May 2025 talked at SOFR+CSA plus 575 bps to 600 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, 102 hard call for one year, then 101 hard call for six months; BofA Securities; refinance/extend an existing term loan; Roseville, Mich., engine products and drive systems manufacturer for the automotive, heavy-duty, and industrial market segments.

DENALI WATER SOLUTIONS LLC: $185 million incremental term loan talked at SOFR+CSA plus 450 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.75% floor, OID 96 to 96.5, 101 soft call for six months; UBS; fund acquisition of Imperial Western Products; Russellville, Ark., specialty waste and environmental services company.

GAMING CAPITAL GROUP (GCG HOLDINGS LLC): $750 million credit facilities (B2/B+); Wells Fargo, Goldman Sachs, US Bank, PNC and NV State Bank; $100 million revolver; $200 million term A; $450 million seven-year covenant-lite term B talked at SOFR+10 bps CSA plus 525 bps to 550 bps, 0.5% floor, OID 98, 101 soft call for six months; refinance existing debt and consolidate ownership by performing buyouts of various GCG entities; Newcastle, Okla., provider of electronic gaming machines to casinos.

LIGHTSTONE HOLDCO LLC: Roughly $1.734 billion of amended and extended senior secured term loans (B2); Jefferies; roughly $1.641 billion amended and extended term B due Jan. 30, 2027 talked at SOFR plus 575 bps, 1% floor, OID 99, hard call 103, 102, 101; roughly $93 million amended and extended term C due Jan. 30, 2027 talked at SOFR plus 575 bps, 1% floor, OID 99, hard call 103, 102, 101; amend and extend existing term loans; portfolio of four generation facilities located in the PJM Interconnection market.

MALLINCKRODT PLC: $900 million senior secured covenant-lite first-lien secured term B (B3/B) due Sept. 30, 2027 talked at SOFR plus 600 bps, 0 bps CSA, 0.75% floor, OID 95 to 96, 101 soft call for six months; Morgan Stanley, MUFG, Barclays and Deutsche Bank; repay revolver borrowings and make payments under a Chapter 11 plan; Dublin-based manufacturer of specialty pharmaceutical products and therapies.

METRONET: $65 million add-on first-lien term B (B2/B) due June 2028 talked at SOFR+CSA plus 375 bps, CSA is 11 bps one-month rate, 26 bps three-month rate and 43 bps six-month rate, 0.75% floor, OID 98.57 to 99; Goldman Sachs, TD Securities, Citizens, Fifth Third, Societe Generale and KKR; repay revolver borrowings; Evansville, Ind., provider of fiber optic high-speed broadband, video and voice services.

MONTANA RENEWABLES LLC: $500 million five-year green term B (B3/B) talked at SOFR+CSA plus 775 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.75% floor, OID 98, non-call one; BofA Securities; refinance existing debt and general corporate purposes; Great Falls, Mont., renewable diesel project.

PIXELLE (SPECTRUM GROUP BUYER INC.): $567 million credit facilities (B1/B); Credit Suisse, Macquarie, Barclays, BMO and KKR; $60 million revolver; $507 million seven-year first-lien term B talked at SOFR plus 625 bps to 650 bps, 0.5% floor, OID 98, 101 soft call for one year; help fund buyout by H.I.G. Capital from Lindsay Goldberg; Spring Grove, Pa., manufacturer of fiber-based specialty products for label technology, food packaging, and other commercial and industrial end uses.

POLYCONCEPT: $925 million credit facilities; KKR, Barclays, Jefferies, RBC, Credit Suisse, Deutsche Bank, PNC and Stifel; $125 million five-year ABL revolver; $800 million seven-year covenant-lite term B talked at SOFR plus 525 bps to 550 bps, 0.5% floor, OID 98, 101 soft call for six months; refinance existing loans; New Kensington, Pa., supplier of promotional products.

R1 RCM INC.: $540 million seven-year senior secured term B (Ba2/B+/BBB-) talked at SOFR+10 bps CSA plus 300 bps, 0.5% floor, OID 98.5 to 99, 101 soft call for six months; Barclays, JPMorgan, BofA Securities, Capital One, Wells Fargo, US Bank, KeyBanc, PNC, Morgan Stanley, HSBC and Fifth Third; help fund the acquisition of Cloudmed from New Mountain Capital; Murray, Utah, provider of technology-driven solutions that transform the patient experience and financial performance of healthcare providers.

REFRESCO GROUP BV: €3.4 billion equivalent of term loans (B2/B+); Goldman Sachs (left on U.S.), JPMorgan (Left on euro and GBP), KKR, Credit Suisse, Natwest, BofA Securities, Morgan Stanley, Mizuho, MUFG, ABN Amro, Credit Agricole, Unicredit, Rabobank, ING, BNP Paribas and SMBC; €1.53 billion equivalent U.S. term B talked at SOFR plus 425 bps to 450 bps, 25 bps leverage-based step-down and 25 bps step-down upon an IPO, 0.5% floor, OID 98 to 98.5, 101 soft call for six months; €1.53 billion term B talked at Euribor plus 450 bps, two 25 bps leverage-based step-downs and 25 bps step-down upon an IPO, 0% floor, OID 98.5 to 99, 101 soft call for six months; €340 million equivalent GBP term B talked at Sonia plus 525 bps, two 25 bps leverage-based step-downs and 25 bps step-down upon an IPO, 0% floor, OID 98 to 98.5, 101 soft call for six months; help fund buyout by KKR; Rotterdam, the Netherlands, beverage producer.

RESTORATION HARDWARE INC.: $1 billion incremental term B-2 (Ba3/BB) talked at SOFR+10 bps CSA plus 325 bps, 0.5% floor, OID 97.5, 101 soft call for six months; BofA Securities; general corporate purposes; Corte Madera, Calif., upscale home furnishings company.

SYNIVERSE HOLDINGS LLC: $1.025 billion seven-year term loan (B3/B-) talked at SOFR plus 500 bps to 525 bps, ESG step-down of 7.5 bps subject to outlined KPI, 0.5% floor, OID 97, 101 soft call for six months; Barclays, Goldman Sachs, Mizuho, BofA Securities, Credit Suisse, Deutsche Bank, BNP Paribas and Societe Generale; help refinance existing capital structure in connection with an investment by Twilio Inc.; Tampa, Fla., provider of technology and business services for the telecommunications industry.

TERRAFORM POWER OPERATING LLC: $500 million seven-year first-lien green term loan (Ba2/BB+/BB+) talked at SOFR+10 bps CSA plus 275 bps to 300 bps, 0.5% floor, OID 98.5, 101 soft call for six months; RBC, Barclays and Wells Fargo; refinance existing debt; New York-based owner and operator of a renewable power portfolio including solar and wind assets.

VXI GLOBAL SOLUTIONS: $615 million seven-year term B (B3/B) talked at SOFR+10 bps CSA plus 475 bps, 0.5% floor, OID 97 to 97.5, 101 soft call for six months; BofA Securities, Citigroup and HSBC; help fund buyout by Bain Capital from Carlyle Group; Los Angeles-based provider of customer care and customer experience solutions.

On The Horizon

CDK GLOBAL INC.: $5.865 billion senior secured credit facilities; Credit Suisse, Goldman Sachs, BMO, Barclays, Deutsche Bank, RBC, TD Securities, Wells Fargo and BofA Securities on first-lien, Broad Street and WSMP providing second-lien; $650 million five-year revolver; $4.35 billion seven-year term loan; $865 million eight-year second-lien term loan; help fund buyout by Brookfield Business Partners; Hoffman Estates, Ill., automotive retail technology 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.

DAVE & BUSTER’S ENTERTAINMENT INC.: Up to $1.35 billion senior secured credit facilities; Deutsche Bank, JPMorgan and BMO; up to $500 million five-year revolver; up to $850 million seven-year covenant-lite term B expected at SOFR plus 425 bps, 0.5% floor, 101 soft call for six months; help fund acquisition of Main Event from Ardent Leisure Group Ltd. and RedBird Capital Partners; Coppell, Tex., owner and operator of entertainment and dining venues.

EPIC STAFFING GROUP: New debt financing; Truist and Wells Fargo; help fund acquisition by The Pritzker Organization LLC; El Segundo, Calif., provider of outsourced employment to the biopharmaceutical and healthcare industries.

GORMAN-RUPP CO.: $540 million credit facilities; JPMorgan; $100 million revolver; $350 million term loan; $90 million senior unsecured subordinated term loan; help fund acquisition of Fill-Rite and Sotera from Tuthill Corp.; Mansfield, Ohio, designer, manufacturer and marketer of pumps and pump systems.

INTERTAPE POLYMER GROUP INC.: $1.75 billion credit facilities; Credit Suisse, Deutsche Bank and Wells Fargo; $250 million asset-based revolver; $1.5 billion senior secured first-lien term loan; 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.

KOFAX: New debt financing; JPMorgan, Credit Suisse, UBS, Jefferies, Blackstone, PSP Partners, Security Benefit and Brinley; help fund buyout by Clearlake Capital Group LP and TA Associates from Thoma Bravo; Irvine, Calif., provider of intelligent automation software to facilitate digital workflow transformations.

LITTELFUSE INC.: New debt financing; help fund acquisition of C&K Switches from Sun Capital Partners; Chicago-based industrial technology manufacturing company.

MHS GLOBAL: New debt financing; JPMorgan; help fund merger with Fortna; provider of parcel, warehouse and distribution, and lifecycle services.

MONEYGRAM INTERNATIONAL INC.: Up to $850 million senior secured credit facilities; Goldman Sachs, Deutsche Bank, Barclays and Wells Fargo; up to $150 million revolver; $700 million first-lien term loan; help fund buyout by Madison Dearborn Partners LLC; Dallas-based digital P2P payments company.

NIELSEN HOLDINGS PLC: $7 billion secured credit facilities; BofA Securities, Barclays, Credit Suisse, Mizuho, HSBC, KKR, Citigroup, Nomura and Ares; $650 million revolver; $6.35 billion term loan; help fund buyout by Evergreen Coast Capital Corp. and Brookfield Business Partners LP; New York-based provider of audience measurement, data and analytics.

QUIDEL CORP.: New debt financing; help fund acquisition of Ortho Clinical Diagnostics Holdings plc; San Diego 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.

TEGNA INC.: $4 billion senior secured credit facilities; RBC, BofA Securities, Goldman Sachs, Truist, BNP Paribas, Credit Suisse, Jefferies, Mizuho, TD Securities, Barclays, Deutsche Bank, MUFG, Citizens and SMBC; $500 million revolver; $3.5 billion term loan; 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.

TWITTER INC.: $7 billion credit facilities; Morgan Stanley, BofA Securities, Barclays, MUFG, BNP Paribas, Mizuho and Societe Generale; $500 million five-year revolver expected at SOFR plus 450 bps, 0% floor; $6.5 billion seven-year covenant-lite term loan expected at SOFR plus 475 bps, 0.5% floor, 101 soft call for six months; help fund acquisition by Elon Musk; San Francisco-based free online social networking microblogging service.

VERTEX CO.: Up to $360 million of incremental loans; RBC, Stifel, MUFG and Citizens (on term loan), Ally Bank on ABL; up to $260 million incremental term loan; up to $100 million incremental ABL facility; refinance debt at Vectrus Inc. in connection with merger, redeem certain preferred stock of Vertex, and working capital and general corporate purposes; provider of integrated solutions and critical service offerings.

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.

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