Bank Loan Calendar: $21.048 billion deals being marketed

June Lender Calls

EG GROUP: Lender call June 12; $2.791 billion first-lien term B due February 2028; Barclays; also €2.117 billion first-lien term B due February 2028; £600 million first-lien term B due February 2028; A$378 million first-lien term B due February 2028; amend and extend; Blackburn, U.K., convenience retail and fuel station company.

Upcoming Closings

ARCLIGHT NGPL HOLDINGS LLC (AL NGPL HOLDINGS LLC): $235 million senior secured term loan due April 15, 2028 talked at SOFR+CSA plus 375 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 97.5 to 98, 101 soft call for six months; Barclays; support acquisition by an affiliate of ArcLight Capital Partners of an additional 12.5% stake in NGPL and acquisition of 12.5% share of the shareholders notes; natural gas pipeline system.

ARAMARK: $750 million seven-year term B (BBB-) talked at SOFR+CSA plus 275 bps to 300 bps, CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, 0% floor, OID 98.5, 101 soft call for six months; JPMorgan; repay a portion of existing term B-3 due 2025; Philadelphia-based professional services company that provides food, hospitality and facility management services as well as uniform and work apparel.

AVENTIV TECHNOLOGIES LLC: $700 million four-year covenant-lite term B (B3/B-) talked at SOFR plus 600 bps, 0.5% floor, OID 97, 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.

AVOLON: Expected closing mid-June; roughly $1.682 billion senior secured covenant-lite first-lien term B-6 due June 2028 at SOFR plus 250 bps, 0.5% floor, OID 99, 101 soft call for six months; Morgan Stanley and Wells Fargo; amend and extend, and general corporate purposes; Dublin-based aircraft lessor.

BOWLERO CORP.: $250 million add-on term loan due February 2028 at SOFR plus 350 bps, 0% floor, OID 98.25, 101 soft call until Aug. 8; JPMorgan; fund acquisition of Lucky Strike Entertainment LLC, pay down revolver borrowings and general corporate purposes; Mechanicsville, Va., operator of bowling centers.

COVANTA HOLDING CORP.: $430 million of term loans (Ba2/BB); Barclays; $400 million sustainability linked term B due Nov. 30, 2028 at SOFR plus 300 bps, 12.5 bps coupon increase for each KPI not met by the observation date of Dec. 31, 2025, 0.5% floor, OID 99, 101 soft call for six months; $30 million sustainability linked term C due Nov. 30, 2028 at SOFR plus 300 bps, 12.5 bps coupon increase for each KPI not met by the observation date of Dec. 31, 2025, 0.5% floor, OID 99, 101 soft call for six months; reimburse a portion of EQT Infrastructure’s initial equity contribution in relation to the acquisition of Circon Holdings Inc. and enhance liquidity; Morristown, N.J., waste to energy company.

CVENT HOLDING CORP. (CAPSTONE BORROWER INC.): Expected closing mid-June; $615 million credit facilities (B2/B-/BB); Morgan Stanley, UBS, Citizens and Fifth Third; $115 million revolver; $500 million seven-year first-lien senior secured covenant-lite term B at SOFR plus 375 bps, 25 bps step-down following an IPO, 0% floor, OID 98.5, 101 soft call for six months; help fund buyout by Blackstone and refinance existing bank debt; Tysons, Va., provider of meetings, events and hospitality technology.

FORTREA: $1.52 billion credit facilities (Ba3/BB/BB+); Goldman Sachs, Barclays, BofA Securities, Citigroup, JPMorgan, MUFG, PNC and Wells Fargo; $450 million revolver; $500 million term A; $570 million seven-year term B talked at SOFR plus 400 bps to 425 bps, 0.5% floor, OID 98 to 98.5, 101 soft call for six months; help fund spin-off from Labcorp; Durham, N.C., contract research organization providing phase I through IV biopharmaceutical product and medical devices services.

HUB INTERNATIONAL: $4.75 billion seven-year term B (B2/B) at SOFR plus 425 bps, 25 bps step-down at B2/B corporate credit ratings and 25 bps step-down upon an IPO, 0.75% floor, OID 99, 101 soft call for six months; Goldman Sachs, Morgan Stanley, Barclays, JPMorgan, BofA Securities, BMO, Nomura, Macquarie, Credit Suisse and ATB; help refinance existing term loans and fund acquisitions; Chicago-based insurance brokerage firm.

PHINIA INC.: $1.225 billion credit facilities (Ba1/BB+); JPMorgan, BofA Securities, PNC, US Bank and Wells Fargo; $500 million revolver; $300 million term A; $425 million five-year term B at SOFR+10 bps CSA plus 400 bps, 0.5% floor, OID 96, 101 soft call for six months; help fund spin-off from BorgWarner Inc.; Auburn Hills, Mich., provider of fuel systems, starters and alternators to the commercial vehicle, light vehicle, and aftermarket end markets.

RXBENEFITS INC. (RXB HOLDINGS INC.): $150 million add-on first-lien term loan (B3/B) due Dec. 18, 2027 talked at SOFR plus 525 bps, 0.75% floor, OID 97.5, 101 soft call for six months; Barclays, Deutsche Bank and Goldman Sachs; help repay existing second-lien term loan; Birmingham, Ala., pharmacy benefits optimizer for the employee benefit industry.

SAMSONITE INTERNATIONAL SA: $2.25 billion of credit facilities (Ba1/BB+/BBB-); JPMorgan left on term B; HSBC left on term A and revolver; $850 million revolver; $800 million term A at SOFR plus 137.5 bps; $600 million seven-year term B talked at SOFR plus 275 bps, 0.5% floor, OID 98.5 to 99, 101 soft call for six months; also new revolver; help refinance existing senior secured credit facilities; Hong Kong-based manufacturer of bags and luggage.

SOLENIS: Expected close early July; $500 million incremental term B (B3/B-) due Nov. 9, 2028 at SOFR plus 500 bps, 0.5% floor, OID 95, 101 soft call for six months; Goldman Sachs, BofA Securities, BMO, HSBC, Deutsche Bank, Citigroup, Macquarie and Nomura; help fund acquisition of Diversey Holdings Ltd.; Wilmington, Del., manufacturer of specialty chemicals used in water-intensive industries.

UNIVAR SOLUTIONS INC.: $3.7 billion equivalent senior secured credit facilities; JPMorgan, Apollo, BMO, BNP Paribas, Credit Suisse, HSBC, Mizuho, RBC, Wells Fargo, TD Securities and Fifth Third; $1.4 billion asset-based revolver; $1.75 billion seven-year term B (B2/B+/BB+) talked at SOFR plus 450 bps, 0% floor, OID 97 to 97.5, 101 soft call for six months; $550 million euro equivalent seven-year term B (B2/B+/BB+) talked at Euribor plus 450 bps, 0% floor, OID 97 to 97.5, 101 soft call for six months; help fund buyout by Apollo and refinance existing debt; Downers Grover, Ill., specialty chemical and ingredient distributor.

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.

ARCONIC CORP.: $2.2 billion senior secured credit facilities; JPMorgan and Wells Fargo; $1.2 billion asset-based revolver; $1 billion term loan; help fund buyout by Apollo Global Management Inc.; Pittsburgh-based provider of aluminum sheet, plate, and extrusions, as well as architectural products.

BIOPHARMA SOLUTIONS: New debt financing; help fund buyout by Advent International and Warburg Pincus from Baxter International Inc.; provider of sterile contract manufacturing solutions, parenteral delivery systems and customized support services to the pharma and biotech industries.

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.

SYNEOS HEALTH INC.: $2.7 billion credit facilities; Goldman Sachs, UBS, RBC, BMO, HSBC, Wells Fargo, Citigroup, Jefferies, Macquarie, Natixis and Truist; $500 million revolver; $2.2 billion in term loans; help fund buyout by Elliott Investment Management, Patient Square Capital and Veritas Capital; Morrisville, N.C., biopharmaceutical solutions organization.

TEMPUR SEALY INTERNATIONAL INC.: New debt financing; help fund acquisition of Mattress Firm Group Inc. and repay Mattress Firm’s outstanding debt; Lexington, Ky., designer, manufacturer, distributor and retailer of bedding products.

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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