Bank Loan Calendar: $9.231 billion deals being marketed

February Lender Calls

PAR PETROLEUM LLC: Lender call Feb. 6; $550 million seven-year covenant-lite term B (B1/BB), 101 soft call for six months; Wells Fargo, BofA Securities and MUFG; refinance notes and existing term B, and general corporate purposes; Houston-based refiner, marketer and distributor of crude oil.

Upcoming Closings

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.

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

FIRST BRANDS GROUP LLC: $300 million incremental senior secured first-lien term loan due March 30, 2027 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.

H.B. FULLER CO.: $800 million seven-year first-lien term B (Ba1/BB+/BBB-) at SOFR plus 250 bps, 0.5% floor, issue price par, 101 soft call for six months; JPMorgan; help refinance an existing term B; St. Paul, Minn., industrial adhesives, sealants, coatings and specialty materials company.

INDICOR (ROPER INDUSTRIAL PRODUCTS INVESTMENT CO. LLC): Roughly $1.23 billion first-lien term loan (B1/B) due Nov. 22, 2029 at SOFR plus 450 bps, 0.5% floor, OID 96.5, 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 (B1/B) due Nov. 22, 2029 at Euribor plus 500 bps, 0% floor, OID 95, 101 soft call for one year; also $300 million revolver (B1/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.

INEOS GROUP HOLDINGS: U.S. term B (BB) due February 2030 talked at SOFR plus 375 bps to 400 bps, 0% floor, OID 98.5, 101 soft call for one year; Barclays, BNP Paribas (on euro only), Citigroup (on euro only), Goldman Sachs, HSBC, ING, China Construction Bank, Credit Agricole, First Abu Dhabi, Industrial and Commercial Bank of China, Mizuho, MUFG and Santander; also add-on euro term loan B (BB) due November 2027 talked at Euribor plus 400 bps, 0% floor, OID 97 to 97.5, 101 soft call until November 2023; raising €2 billion equivalent between the term loans and other secured debt to repay term loan Bs due 2024 and general corporate purposes; London-based chemicals company.

INSPIRE BRANDS INC. (IRB HOLDINGS CORP.): $1.75 billion senior secured first-lien term B-3 (B+) due Dec. 15, 2027 talked at SOFR+CSA plus 325 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.75% floor, OID 98.5 to 99, 101 soft call for six months; Barclays; help refinance term B-1; Atlanta-based multi-brand restaurant company.

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.

UNITED TALENT AGENCY: $250 million incremental term B (B2/B+) due July 2028 talked at SOFR+CSA plus 400 bps, CSA is roughly 11 bps one-month rate, 26 bps three-month rate and 43 bps six-month rate, 0.75% floor, OID 97.5 to 98, 101 soft call for six months; JPMorgan, BofA Securities and MUFG; pay down revolver borrowings and add cash to the balance sheet; Los Angeles-based talent and entertainment company.

VARSITY BRANDS INC.: Minimum roughly $1.131 billion first-lien term B (B2) due Dec. 15, 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 Feb. 8; $320 million five-year senior secured covenant-lite first-lien term loan (B3/B) at SOFR plus 550 bps, 25 bps step-down at net first-lien leverage of 3.5x, 0% floor, OID 95, 101 soft call for one year; 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.

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