Bank Loan Calendar: $13.81 billion deals being marketed

Upcoming Closings

BROADSTREET PARTNERS INC.: $935 million incremental term B-3 (B2/B) due January 2029 at SOFR plus 400 bps, 0% floor, OID 98.75, 101 soft call for six months; RBC, BMO, M&T Bank, CIBC, Scotia, TD Securities and Truist; support a new core agency partnership and fund cash to the balance sheet for mergers and acquisitions; Columbus, Ohio, insurance broker.

COPELAND: Up to $2.75 billion seven-year term B (Ba3/BB-/BB+) talked at SOFR plus 350 bps, OID 99, 101 soft call for six months; RBC and Barclays; help fund acquisition by Blackstone of a majority stake in Emerson Electric Co.’s Climate Technologies business (Copeland); manufacturer of mission critical, highly engineered heating, ventilation, air conditioning and refrigeration components.

DATASITE (MERMAID BIDCO INC.): $400 million add-on term B (B2/B-) due December 2027 talked at SOFR plus 450 bps, 25 bps step-down at 3.25x net senior leverage, 0.75% floor, OID 98, 101 soft call for six months; JPMorgan, Jefferies, Deutsche Bank and MUFG; refinance a holdco PIK note and general corporate purposes; Minneapolis-based SaaS provider for the mergers and acquisitions industry.

GARRETT MOTION INC.: $700 million term B (//BB+) due April 2028 at SOFR plus 450 bps, 0.5% floor, OID 96.5, 101 soft call for one year; JPMorgan; fund the repurchase of series A cumulative convertible preferred stock, and conversion of series A cumulative convertible preferred stock into shares of common stock; Rolle, Switzerland, provider of passenger vehicle, commercial vehicle, aftermarket replacement and performance enhancement solutions.

GLOBAL HEALTHCARE EXCHANGE LLC: $725 million term loan (B2/B-) due June 2027 talked at SOFR plus 475 bps to 500 bps, 0.5% floor, OID 97, 101 soft call for six months; JPMorgan; extend existing term loan; Louisville, Colo., provider of cloud-based health care supply chain management technology and services.

GMS INC. (GYP HOLDINGS III CORP.): $500 million seven-year term B (Ba2/BB-) at SOFR plus 300 bps, 0% floor, OID 99.5, 101 soft call for six months; JPMorgan; refinance existing term B; Tucker, Ga., distributor of interior construction products.

HEARTLAND DENTAL LLC: Up to roughly $1.85 billion senior secured first-lien term loan (B-) due April 30, 2028 talked at SOFR plus 500 bps, 0.75% floor, OID 96 to 97, 101 soft call for six months; KKR, Jefferies, BMO, TD Securities, Credit Agricole, Mizuho, MUFG, SMBC and Macquarie; help partially refinance extending lenders as part of an amend and extend of their existing term loan and general corporate purposes; Effingham, Ill., dental support organization.

IMAGEFIRST HOLDINGS LLC: Expected closing April 28; $120 million incremental term loan (including $20 million delayed-draw tranche) (B3/B) due April 27, 2028 at SOFR+CSA plus 500 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.75% floor, OID 97.5, 101 soft call for six months; Antares; general corporate purposes and acquisition activity; King of Prussia, Pa., provider of linen, laundry, and safety and hygiene services specializing in the health care industry.

KENAN ADVANTAGE GROUP INC.: $250 million incremental first-lien term loan (B2) due 2026 talked at SOFR+CSA plus 400 bps, CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, 0.75% floor, OID 98.5, 101 soft call for six months; KeyBanc, Barclays, Citizens, Credit Suisse, Deutsche Bank, CIBC, Fifth Third, ING, MUFG and Regions; help refinance a second-lien term loan; North Canton, Ohio, provider of liquid bulk transportation services to the fuels, chemicals, liquid foods and merchant gas markets.

MRC GLOBAL INC.: $300 million five-year first-lien term B (B3/B) talked at SOFR+10 bps CSA plus 400 bps, 0.5% floor, OID 98.5 to 99, 101 soft call for six months; JPMorgan; refinance existing term B; Houston-based distributor of pipe, valves and fittings and other infrastructure products and services to diversified energy and industrial end markets.

OXBOW CARBON LLC: $900 million credit facilities (B1/BB-); BofA Securities, JPMorgan, Rabobank, Truist, Capital One, Citizens, Wells Fargo and others; $325 million revolver; $225 million term A; $350 million seven-year term B talked at SOFR+10 bps CSA plus 375 bps to 400 bps, 0.5% floor, OID 98, 101 soft call for one year; refinance existing senior secured credit facilities; West Palm Beach, Fla., recycler and upgrader of refinery byproducts.

SIGNANT HEALTH (BRACKET INTERMEDIATE HOLDING CORP.): $1.06 billion credit facilities; Jefferies and Antares; $80 million revolver; $980 million five-year first-lien term loan talked at SOFR+10 bps CSA plus 500 bps, 25 bps leverage-based step-down, 0.5% floor, OID 96.5, 101 soft call for six months; refinance existing debt and fund an acquisition; provider of clinical research technology and solutions for clinical trials.

SIGNATURE AVIATION PLC: $400 million add-on term B-2 (B2) due July 2, 2029 at SOFR plus 375 bps, 0.5% floor, OID 99, 101 soft call for six months; RBC; fund a dividend; London-based aviation services company.

TALEN ENERGY SUPPLY LLC: $1.37 billion of term loans (Ba3/BB/BB+); Citigroup; $825 million seven-year senior secured covenant-lite term B talked at SOFR plus 425 bps to 450 bps, 25 bps step-down at 2x first-lien net leverage starting June 30, 2024, 0.5% floor, OID 97 to 98, 101 soft call for six months; $545 million seven-year senior secured covenant-lite term C talked at SOFR plus 425 bps to 450 bps, 25 bps step-down at 2x first-lien net leverage starting June 30, 2024, 0.5% floor, OID 97 to 98, 101 soft call for six months; refinance existing secured financing agreements in connection with Chapter 11 emergence, add cash to the balance sheet and general corporate purposes; Houston-based power generation and infrastructure company.

TANK HOLDING CORP.: $450 million incremental unitranche term loan (including $100 million delayed-draw tranche) due March 31, 2028 talked at SOFR+10 bps CSA plus 575 bps, 0.75% floor, OID 97, 101 hard call until March 31, 2024; Antares; finance several acquisitions, and refinance revolver draws or replenish balance sheet cash; Lincoln, Neb., designer and manufacturer of rigid liquid storage tanks and containers, material handling solutions, and custom products.

TITAN ACQUISITION HOLDINGS: $700 million seven-year first-lien term B (B2/B) at SOFR plus 450 bps, 25 bps step-down at 4x net first-lien leverage and 25 bps step-down upon an IPO, 0% floor, OID 98.5, 101 soft call for six months; JPMorgan, BNP Paribas, Mizuho, Wells Fargo and BofA Securities; help fund buyout by Lone Star Funds from Carlyle and Stellex Capital Management; Portland, Ore., provider of ship repair services and marine and heavy complex fabrication.

TMF GROUP: $400 million term B (B2/B) due May 2028 at SOFR plus 500 bps, 0% floor, OID 98, 101 soft call for six months; Goldman Sachs, Barclays, HSBC, Nomura, Deutsche Bank and Jefferies; also €955 million term B (B2/B) due May 2028 at Euribor plus 450 bps, 0% floor, OID 98.5, 101 soft call for six months; extend existing euro term B, refinance second-lien debt, repay revolver borrowings and acquisition activity; Amsterdam-based provider of legal financial and employee administration services.

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.

CVENT HOLDING CORP.: $1 billion credit facilities; Morgan Stanley, UBS and Citizens; $100 million revolver; $900 million term loan; help fund buyout by Blackstone; Tysons, Va., provider of meetings, events and hospitality technology.

FOCUS FINANCIAL PARTNERS INC.: $500 million incremental covenant-lite first-lien secured term loan due July 1, 2028; RBC, Truist, Citizens, MUFG, Fifth Third, BMO and Capital One; help fund buyout by Clayton, Dubilier & Rice LLC; New York-based partnership of independent, fiduciary wealth management firms.

GENTIVA: New debt financing; Goldman Sachs, Deutsche Bank, UBS, BNP Paribas, Citizens, Truist and Wells Fargo; fund acquisition of Heartland hospice and home care agencies/locations from ProMedica; hospice, palliative and personal care company.

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.: New senior secured credit facilities; Goldman Sachs, Deutsche Bank, Barclays and Wells Fargo; revolver; first-lien term loan; help fund buyout by Madison Dearborn Partners LLC; Dallas-based digital P2P payments company.

SOLENIS: $750 million incremental term loan due Nov. 9, 2028; BofA Securities and Goldman Sachs; help fund acquisition of Diversey Holdings Ltd.; Wilmington, Del., manufacturer of specialty chemicals used in water-intensive industries.

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.

TESSCO TECHNOLOGIES INC.: New debt financing; Wells Fargo; help fund buyout by Lee Equity Partners and Twin Point Capital; Hunt Valley, Md., technology distributor, manufacturer and solutions provider serving commercial customers in the wireless infrastructure ecosystem.

UNIVAR SOLUTIONS INC.: $3.5 billion senior secured credit facilities; JPMorgan; $1.4 billion asset-based revolver; $2.1 billion term loan; help fund buyout by Apollo; Downers Grover, Ill., specialty chemical and ingredient distributor.

VISTRA OPERATIONS: New term loan debt; Citigroup, BMO and Mizuho; help fund acquisition of Energy Harbor Corp.; Irving, Tex., retail electricity and power generation company.

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