Bank Loan Calendar: $9.407 billion deals being marketed

Upcoming Closings

888 HOLDINGS PLC (888 ACQUISITIONS): Expected closing Dec. 14; $75 million add-on covenant-lite term B (B1/B/BB+) due July 2028 at SOFR+10 bps CSA plus 525 bps, 0.5% floor, OID 85; Morgan Stanley, JPMorgan and Barclays; help refinance a term A; online betting and gaming company.

ALTICE USA: $4.062 billion extended term loan (B1/B+) 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.

AXALTA COATING SYSTEMS LTD.: Expected closing Dec. 19 week; $2 billion seven-year senior secured term B (Ba1/BBB-) at SOFR plus 300 bps, 0.5% floor, OID 99, 101 soft call for six months; Barclays, Deutsche Bank, JPMorgan, BofA Securities, Citigroup, Credit Suisse, Goldman Sachs and Truist; help refinance an existing term B; Glen Mills, Pa., coatings company.

BJ’S WHOLESALE CLUB INC.: Expected closing early January; $450 million covenant-lite first-lien term loan due February 2027 at SOFR plus 275 bps, 0% floor, OID 99.75 for new money, extension fee 25 bps, 101 soft call for six months; Nomura, BofA Securities, Wells Fargo and Deutsche Bank; amend and extend a portion of existing first-lien term loan; Westborough, Mass., warehouse club operator.

DEALER TIRE: $1.43 billion extended term B (B1) due 2027 at SOFR plus 450 bps, 0.5% floor, OID 97.5, 101 soft call for six months; JPMorgan, BMO, Truist, Jefferies, Citizens, RBC, PNC, US Bank, BofA Securities, Barclays and Goldman Sachs; amend and extend existing term B and general corporate purposes; Cleveland-based manager of replacement tire and parts programs for automotive OEMs.

FIRST BRANDS GROUP LLC: $300 million incremental senior secured first-lien term loan (B1/B+) due March 30, 2027 talked at SOFR+CSA plus 500 bps, CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, 1% floor, OID 93 to 94, 101 soft call for six months; Jefferies; fund cash to the balance sheet for liquidity to support growth initiatives; automotive aftermarket platform.

HAYWARD INDUSTRIES INC.: $125 million incremental senior secured term loan (B2/BB) due May 2028 at SOFR+10 bps CSA plus 325 bps, 0.5% floor, OID 96, 101 soft call for six months; BofA Securities and Truist; repay asset-based revolver borrowings and general corporate purposes; Berkeley Heights, N.J., manufacturer of residential and commercial pool and spa equipment as well as industrial flow control products.

MARINER WEALTH ADVISORS: $100 million incremental first-lien term loan (B-) due August 2028 talked at SOFR+10 bps CSA plus 425 bps to 450 bps, 0.5% floor, OID 95, 101 soft call for six months; BMO; general corporate purposes, including to fund near-term acquisitions; investment adviser.

SUMMIT MATERIALS: $510 million five-year term B (Ba1) at SOFR+10 bps CSA plus 300 bps, 0% floor, OID 99, 101 soft call for six months; BofA Securities; refinance existing term B; Denver-based construction materials company.

TRAVEL + LEISURE CO.: $300 million seven-year incremental term loan (BB-/BB+) at SOFR+10 bps CSA plus 400 bps, 0.5% floor, OID 97.5, 101 soft call for six months; JPMorgan; help refinance notes; Orlando, Fla., membership and leisure travel company.

VISTAGE WORLDWIDE: $55 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.

© 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.