Bank Loan Calendar: $13.909 billion deals being marketed

May Lender Calls

AVENTIV TECHNOLOGIES LLC: Lender call May 3; $700 million four-year covenant-lite term B, 101 soft call for one year; Deutsche Bank; help refinance existing debt; Dallas-based technology platform provider enabling the delivery of mission critical solutions to correctional facilities, government agencies, incarcerated individuals, and their friends & family members.

Upcoming Closings

ALLIED UNIVERSAL: $400 million incremental covenant-lite first-lien term loan B (B2/B) due May 14, 2028 talked at SOFR plus 475 bps, 0.5% floor, OID 97, 101 soft call for six months; Morgan Stanley; refinance existing ABL and revolver borrowings; Santa Ana, Calif., provider of security services.

ARCIS GOLF LLC: $200 million of term loans (B+); Deutsche Bank, JPMorgan and Wells Fargo; $160 million incremental covenant-lite term loan B due Nov. 24, 2028 talked at SOFR+CSA plus 425 bps, CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, 0.5% floor, OID 98.75 to 99; $40 million covenant-lite delayed-draw term loan due Nov. 24, 2028 talked at SOFR+CSA plus 425 bps, CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, 0.5% floor, OID 98.75 to 99; fund the acquisitions of Pac Life and Project Pine; Dallas-based owner and operator of golf clubs.

BLACKHAWK NETWORK HOLDINGS INC.: $1.75 billion seven-year term B talked at SOFR plus 400 bps to 425 bps, 0% floor, OID 98 to 98.5, 101 soft call for six months; BofA Securities; help repay first- and second-lien term loans; Pleasanton, Calif., financial technology company.

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.

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.

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.

IMPERIAL DADE: $1.5 billion term loan (B3) due December 2028 talked at SOFR plus 475 bps, 0.5% floor, OID 97.5 to 98, 101 soft call for six months; JPMorgan, Barclays, BMO, Credit Suisse, Citizens, MUFG, Stifel, TD Securities and US Bank; extend a portion of existing first-lien term loans; Jersey City, N.J., distributor of foodservice disposables and janitorial sanitation products.

KENAN ADVANTAGE GROUP INC.: $300 million incremental covenant-lite first-lien term loan (B2/B) due March 24, 2026 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 99, 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.

LIFE TIME INC.: Roughly $274 million covenant-lite term B (B2/BB-) due January 2026 talked at SOFR+CSA plus 475 bps, 25 bps step-down at B2/B corporate ratings, CSA is of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, 0.5% floor, OID 99 to 99.5, 101 soft call for six months; Deutsche Bank; refinance existing term loan; Chanhassen, Minn., operator of athletic resorts.

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 (B3/B-); 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.

TALEN ENERGY SUPPLY LLC: Expected closing late May; $1.05 billion of term loans (Ba3/BB/BB+); Citigroup, BMO, Deutsche Bank, Goldman Sachs, RBC, Credit Suisse, MUFG, Morgan Stanley and Barclays; $580 million seven-year senior secured covenant-lite term B at SOFR plus 450 bps, 0.5% floor, OID 97, 101 soft call for six months; $470 million seven-year senior secured covenant-lite term C at SOFR plus 450 bps, 0.5% floor, OID 97, 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.

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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