Bank Loan Calendar: $8.213 billion deals being marketed

Upcoming Closings

AMERICAN GREETINGS CORP.: Roughly $282 million senior secured first-lien term loan (Ba3/B+) due April 6, 2026 talked at SOFR plus 475 bps to 500 bps, 1% floor, OID 97, 101 soft call for six months; Barclays; amend and extend existing first-lien term loan; Cleveland-based provider of greeting cards, gift packaging, party goods, gifting products and digital offerings.

ATLAS AIR WORLDWIDE: $800 million seven-year first-lien term B (Ba1/BB/BB+) talked at SOFR plus 425 bps, 0% floor, OID 95 to 96, 101 soft call for six months; Goldman Sachs, Barclays, Apollo, Mizuho and Credit Agricole; help fund buyout by Apollo, J.F. Lehman & Co. and Hill City Capital; Purchase, N.Y., provider of outsourced aircraft and aviation operating services.

BOWLERO CORP.: $900 million term B (B1/B) due February 2028 talked at SOFR plus 375 bps to 400 bps, 0% floor, OID 98, 101 soft call for six months; JPMorgan and Wells Fargo; refinance an existing term loan, repay revolver borrowings and add cash to the balance sheet; Mechanicsville, Va., operator of bowling centers.

BRAZOS MIDSTREAM (BRAZOS DELEWARE II LLC): $800 million seven-year senior secured term B (B1/B+) at SOFR plus 375 bps, 0.5% floor, OID 99, 101 soft call for six months; Barclays, Jefferies, Bank of Oklahoma and Cadence Bank; refinance existing term B; Fort Worth, Tex., natural gas gathering and processing and crude gathering company.

CONFLUENT HEALTH LLC: $125 million incremental term loan (B3/B-) due November 2028; Macquarie; fund an acquisition; Louisville, Ky., outpatient physical therapy provider.

DEL MONTE: $100 million add-on term B (B) due May 2029 talked at SOFR+CSA plus 425 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, OID 98.56, 101 soft call for six months; Goldman Sachs; partially repay ABL borrowings; producer, distributor and marketer of plant-based food products.

FIRST BRANDS GROUP LLC: $250 million incremental senior secured first-lien term loan 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 96, 101 soft call through June 15, 2023; Jefferies; fund acquisitions; automotive aftermarket platform.

FRANCHISE GROUP INC.: $300 million add-on first-lien term loan (B1/B+) due March 10, 2026 at SOFR+CSA plus 475 bps, CSA is 11.4 bps one-month rate, 26.2 bps three-month rate and 42.8 bps six-month rate, 0.75% floor, OID 95, 101 soft call for six months; JPMorgan; repay ABL credit facility borrowings; Delaware, Ohio, owner and operator of franchised and franchisable businesses.

INDICOR (ROPER INDUSTRIAL PRODUCTS INVESTMENT CO. LLC): Roughly $1.23 billion first-lien term loan (B) due Nov. 22, 2029 talked at SOFR plus 500 bps, 0.5% floor, OID 94, 101 soft call for one year; UBS (left on U.S.), BNP Paribas (left on euro), RBC, BMO, Mizuho, Natixis, TD Securities and Santander; also €300 million first-lien term loan (B) due Nov. 22, 2029 talked at Euribor plus 500 bps to 525 bps, 0% floor, OID 93, 101 soft call for one year; also $300 million revolver (B) due Nov. 22, 2027 and $475 million privately placed second-lien term loan due Nov. 22, 2030; used to help fund Clayton, Dubilier & Rice LLC’s already completed acquisition of a majority stake in the industrial products businesses of Roper Technologies Inc.; provider of products and services within three primary product categories: material preparation and testing, sensors and controls, and flow control.

NIELSENIQ: $1.975 billion equivalent of term loans (B2/B); JPMorgan, UBS, BofA Securities, BMO, BNP Paribas, Fifth Third, HSBC, MUFG, RBC, Standard Chartered and Santander; $1.475 billion incremental term B due March 2028 talked at SOFR plus 600 bps, 0.5% floor, OID 92 to 93, 101 soft call for six months; $500 million equivalent euro incremental term B due March 2028 talked at Euribor plus 600 bps, 25 bps step-downs at 0.5x and 1x inside opening first-lien net leverage, 0% floor, OID 92 to 93, 101 soft call for six months; fund acquisition of GfK SE, repay revolver borrowings and general corporate purposes; Chicago-based information services company.

VARSITY BRANDS INC.: Minimum roughly $1.131 billion first-lien term B due December 2026 talked at SOFR+10 bps CSA plus 500 bps, 1% floor, OID 96.5, non-call two, 103, with a 101 carve-out for IPO proceeds or a concurrent refinancing; Jefferies; amend and extend; provider of sports, cheerleading and achievement-related products to schools.

ZEST DENTAL SOLUTIONS (ZEST ACQUISITION CORP.): Expected closing early February; $320 million five-year senior secured covenant-lite first-lien term loan (B3/B) talked at SOFR plus 575 bps to 600 bps, two 25 bps step downs at 0.5x and 1x inside closing first-lien net leverage, 0% floor, OID 95, 101 soft call for six months; Citigroup, SVB, UBS, RBC and Jefferies; help refinance existing term loans; Carlsbad, Calif., developer, manufacturer and supplier of solutions to treat both natural teeth and implant supported restorations.

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.

CETERA FINANCIAL GROUP: Roughly $750 million incremental term loan; UBS; fund acquisition of retail wealth business of Securian Financial Group Inc.; San Diego-based network of financial professionals.

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.

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.

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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