Bank Loan Calendar: $12.5278 billion deals being marketed

December Lender Calls

ALTICE USA: Lender call Dec. 6; $4.062 billion extended term loan due January 2028 talked at SOFR plus 450 bps, 0% floor, OID 98, 101 soft call for one year; JPMorgan; extend $2.835 billion term B-1 due 2025 and $1.227 billion term B-3 due 2026; broadband communications and video services provider.

APEX GROUP LTD.: Lender call Dec. 6; $400 million incremental term B (B1) due July 2028 talked at SOFR plus 500 bps, 0.5% floor, OID 92 to 93, 101 soft call for six months; BofA Securities, Goldman Sachs, JPMorgan and Morgan Stanley; fund the acquisition of Pacific Fund Systems and general corporate purposes; financial services provider.

Upcoming Closings

ALTICE INTERNATIONAL: $1.6 billion term B due October 2027 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 €400 million term B due October 2027 at Euribor plus 500 bps, 0% floor, OID 98, 101 soft call for one year; amend and extend existing term loans and general corporate purposes; cable, telecommunications and entertainment company.

AMERICAN AXLE & MANUFACTURING INC.: $650 million seven-year term B (BB+) talked at SOFR+10 bps CSA plus 375 bps, 0.5% floor, OID 96, 101 soft call for six months; JPMorgan, Barclays, BMO, BofA Securities, Citigroup, Mizuho and RBC; help refinance existing term B; Detroit-based producer of driveline and drivetrain systems and related components and chassis modules for the automotive industry.

AXALTA COATING SYSTEMS LTD.: $2 billion seven-year senior secured term B (Ba1) talked at SOFR plus 325 bps, 0.5% floor, OID 97.5 to 98.5, 101 soft call for six months; Barclays; help refinance an existing term B; Glen Mills, Pa., coatings company.

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.

BRP INC. (BOMBARDIER RECREATIONAL PRODUCTS INC.): $400 million seven-year incremental term B (BB) talked at SOFR plus 375 bps, 0.5% floor, OID 97, 101 soft call for six months; RBC, Citigroup, BMO and TD Securities; repay revolver borrowing, repay a term B-2 and general corporate purposes; Valcourt, Quebec, manufacturer of motorized recreational vehicles and powersports engines.

CHART INDUSTRIES INC.: $1.315 billion seven-year term B talked at SOFR plus 375 bps to 400 bps, 0.5% floor, OID 97, 101 soft call for six months; JPMorgan and Morgan Stanley; help fund acquisition of Howden; Ball Ground, Ga., manufacturer of highly engineered equipment servicing the energy and industrial gas markets.

ELECTRO RENT CORP.: Expected closing Dec. 6; $519.8 million covenant-lite first-lien term loan (B2/B-) due Nov. 1, 2024 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.

GUGGENHEIM PARTNERS INVESTMENT MANAGEMENT HOLDINGS: $785 million seven-year term B talked at SOFR plus 325 bps to 350 bps, 0% floor, OID 98, 101 soft call for six months; BofA Securities; refinance existing term B and add cash to the balance sheet; financial services firm.

TRAVEL + LEISURE CO.: $300 million seven-year incremental term loan (BB-/BB+) talked at SOFR+10 bps CSA plus 425 bps to 450 bps, 0.5% floor, OID 97, 101 soft call for six months; JPMorgan; help refinance notes; Orlando, Fla., membership and leisure travel company.

VISTAGE WORLDWIDE: $44 million add-on first-lien term loan talked at SOFR+CSA plus 525 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.75% floor, OID 96; Golub; fund an acquisition; San Diego-based member-based advisory company for executives of small and medium-sized businesses.

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.

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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