Bank Loan Calendar: $17.012 billion deals being marketed

November Lender Calls

AXALTA COATING SYSTEMS LTD.: Lender call Nov. 30; $2 billion seven-year senior secured term B, 101 soft call for six months; Barclays; help refinance an existing term B; Glen Mills, Pa., coatings company.

Upcoming Closings

ALTICE INTERNATIONAL: $1.81 billion term B due October 2027 talked at SOFR plus 500 bps, 0% floor, OID 98, 101 soft call for one year; JPMorgan, BNP Paribas, Barclays, Credit Agricole, Goldman Sachs, ING, Morgan Stanley and RBC, and Deutsche Bank on euro only; also €300 million term B due October 2027 talked at Euribor plus 500 bps, 0% floor, OID 98, 101 soft call for one year; amend and extend existing $910 million term B due 2025, $900 million term B due 2026 and €300 million term B due 2026; cable, telecommunications and entertainment company.

APPLIED SYSTEMS INC.: Expected closing early December; $2.191 billion credit facilities; Nomura, Jefferies and Macquarie; $80 million revolver due June 2026; $1.5463 billion covenant-lite first-lien term loan (including $215 million new money) due September 2026 at SOFR plus 450 bps, 0.5% floor, OID 99.5 on new money, 50 bps extension fee, 101 soft call for six months; $564.7 million covenant-lite second-lien term loan due September 2027 at SOFR plus 675 bps, 0.75% floor, 50 bps extension fee, 101 hard call for one year; amend and extend; University Park, Ill., cloud software provider to the property & casualty and benefits insurance industry.

BJ’S WHOLESALE CLUB INC.: Up to $452 million covenant-lite first-lien term loan due February 2027 talked at SOFR plus 275 bps, 0% floor, OID 99.625 for new money, extension fee 37.5 bps, 101 soft call for six months; Nomura, BofA Securities and Wells Fargo; amend and extend a portion of existing first-lien term loan; Westborough, Mass., warehouse club operator.

ELECTRO RENT CORP.: $534 million covenant-lite first-lien term loan (B-) due Nov. 1, 2024 talked at SOFR+10 bps CSA plus 550 bps, 1% floor, 150 bps extension fee, 101 soft call for one year; Deutsche Bank, Barclays, BMO and Goldman Sachs; amend and extend; West Hills, Calif., provider of electronic testing and measurement equipment services.

ENTAIN PLC: $250 million add-on term B (Ba1) due October 2029 talked at SOFR+10 bps CSA plus 350 bps, 0.5% floor, OID 98; Deutsche Bank, Barclays, Lloyds, Mediobanca, Morgan Stanley, Natwest and Santander; also €500 million term B (Ba1) due June 2028 talked at Euribor plus 375 bps, 0% floor, OID 97, 101 soft call for one year; partially repay a euro term loan due March 2024 and extend some of the euro term loan debt due March 2024; Douglas, Isle of Man, sports-betting, gaming and interactive entertainment group.

FLOW CONTROL GROUP (FCG ACQUISITIONS INC.): $90 million incremental first-lien term loan due April 2028 talked at SOFR plus 475 bps, 0.5% floor, OID 94 to 95; KKR; fund acquisitions under letters of intent; Charlotte, N.C., distributor and technical adviser for mission critical flow control and industrial automation products and related services.

FOUR SEASONS HOTELS AND RESORTS: Expected closing Nov. 30; $850 million seven-year senior secured first-lien term B (Ba3/BB+) at SOFR+10 bps CSA plus 325 bps, 0.5% floor, OID 98.5, 101 soft call for six months; Citigroup and Morgan Stanley; refinance existing first-lien term loan; Toronto-based luxury hotels company.

OPENTEXT CORP.: Expected closing first quarter 2023; $3.585 billion seven-year senior secured term B (Ba1/BBB-/BBB-) at SOFR+10 bps CSA plus 350 bps, 0.5% floor, OID 97, 101 soft call for six months; Barclays, BMO, RBC, Citigroup, MUFG, HSBC, PNC, National Bank of Canada and CIBC; help fund acquisition of Micro Focus; Waterloo, Ont., software provider of business-to-business cloud integration services.

SEBIA: $225 million covenant-lite term B due December 2027 talked at SOFR plus 450 bps to 475 bps, 0% floor, OID 97 to 98, 101 soft call for six months; Nomura, Credit Agricole, HSBC and Natixis; also €890 million covenant-lite term B due December 2027 talked at Euribor plus 450 bps to 475 bps, 0% floor, OID 97 to 98; extend existing term loans; France-based multi-specialty in-vitro diagnostics company.

TENNECO (PEGASUS MERGER CO.): $3.3 billion of credit facilities (Ba3/B/BB-); Citigroup, BofA Securities, Barclays, BNP Paribas, Jefferies, RBC, TD Securities, Wells Fargo, Deutsche Bank, BMO, Credit Suisse, Goldman Sachs, ING, Mizuho, MUFG, Santander and U.S. Bank; $600 million revolver; $1.3 billion term A; $1.4 billion six-year covenant-lite senior secured term B talked at SOFR+10 bps CSA plus 500 bps, 0.5% floor, OID 84 to 85, 101 soft call for six months; help fund already completed buyout by Apollo; Lake Forest, Ill., designer, manufacturer and marketer of automotive products for original equipment and aftermarket customers.

TRANSDIGM INC.: $1.725 billion first-lien term G due February 2027 talked at SOFR plus 350 bps, 0% floor, OID 97.5 to 98, 101 soft call for one year; Goldman Sachs; amend and extend; Cleveland-based supplier of highly engineered aircraft components for use on commercial and military aircraft.

On The Horizon

APOTEX PHARMACEUTICAL HOLDINGS INC.: New debt financing; RBC, Scotia, HSBC and Truist; help fund buyout by SK Capital Partners LP; Toronto-based pharmaceutical company.

ATLAS AIR WORLDWIDE: $1.9 billion senior secured credit facilities; Goldman Sachs, Barclays, Apollo, Mizuho and Credit Agricole; $300 million revolver; $1.6 billion first-lien term loan; help fund buyout by Apollo, J.F. Lehman & Co. and Hill City Capital; Purchase, N.Y., provider of outsourced aircraft and aviation operating services.

BETTCHER INDUSTRIES: $200 million incremental first-lien term loan (B-); UBS, KKR and Jefferies; help fund acquisition of Frontmatec from Axcel; Birmingham, Ohio, developer and manufacturer of precision cutting and trimming tools for food processing and industrial applications.

CHART INDUSTRIES INC.: New term loans; JPMorgan and Morgan Stanley; help fund acquisition of Howden; Ball Ground, Ga., manufacturer of highly engineered equipment servicing the energy and industrial gas markets.

CONSUMER DIRECT CARE NETWORK INC. (GRIZZLY NEW PUBCO INC.): $150 million credit facilities; $75 million senior secured term loan; $75 million asset-based revolver; help support merger with DTRT Health Acquisition Corp.; Missoula, Mont., provider of in-home personal care.

DSM ENGINEERING MATERIALS: €2.9 billion equivalent term loan; Goldman Sachs, Barclays, UBS and BNP Paribas; help fund acquisition by Advent International and Lanxess from Royal DSM; supplier of engineering and high-performance polymers.

MASONITE INTERNATIONAL CORP.: New term loan; help fund acquisition of Endura Products; Tampa, Fla., based manufacturer and distributor of interior and exterior doors and door systems.

MAXLINEAR INC.: $3.5 billion senior secured credit facilities; Wells Fargo, BMO, Citizens and Truist; $250 million five-year revolver expected at SOFR plus 225 bps, 0% floor; $512.5 million five-year term A expected at SOFR plus 225 bps, 0% floor; $2.7375 billion seven-year covenant-lite term B expected at SOFR+CSA plus 300 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 Silicon Motion; Carlsbad, Calif., provider of radio frequency, analog and mixed-signal integrated circuits for broadband, connectivity, and infrastructure markets.

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.

RITCHIE BROS. AUCTIONEERS INC.: New debt financing; Goldman Sachs, BofA Securities and RBC; help fund acquisition of IAA Inc.; Vancouver, B.C., asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets.

SEALED AIR CORP.: New debt financing; help fund acquisition of Liquibox; Charlotte, N.C., provider of packaging solutions.

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.

WOOD MACKENZIE: New debt financing; help fund buyout by Veritas Capital from Verisk; provider of data, analytics, and insights used to power the energy, renewables, and natural resources industry.

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