Bank Loan Calendar: $11.612 billion deals being marketed

Upcoming Closings

CHG HEALTHCARE: Expected closing Oct. 2; $530 million incremental first-lien term loan (B2/B) due September 2028 talked at SOFR plus 375 bps to 400 bps, 0.5% floor, OID 99, 101 soft call for six months; Goldman Sachs, JPMorgan, Barclays, BMO and Citigroup; refinance existing second-lien notes and fund a dividend; Salt Lake City-based private healthcare staffing company that specializes in temporary physician staffing services.

ECL ENTERTAINMENT LLC: $380 million seven-year covenant-lite term B (B2/B+) talked at SOFR plus 475 bps to 500 bps, 0.75% floor, OID 98, 101 soft call for six months; Deutsche Bank and Citizens; also new revolver; refinance existing capital structure; regional gaming company.

ENTEGRIS INC.: $2.318 billion senior secured covenant-lite first-lien term B due July 06, 2029 talked at SOFR plus 250 bps, 0% floor, issue price par, 101 soft call for six months; Morgan Stanley; repricing; Billerica, Mass., supplier of advanced materials and process solutions for the semiconductor and other high-tech industries.

HEARTLAND DENTAL LLC: $350 million add-on first-lien term loan due April 30, 2028 at SOFR plus 500 bps, 0.75% floor, OID 97; KKR; pay down first-lien term loan due 2025; Effingham, Ill., dental support organization.

LAKESHORE LEARNINGS MATERIALS LLC: $150 million incremental first-lien term loan due Oct. 1, 2028 talked at SOFR+CSA plus 350 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 98.79, 101 soft call for six months; Jefferies, BMO, Wells Fargo, Citizens and KeyBanc; fund a one-time shareholder distribution; Carson, Calif., developer, distributor and retailer of educational products and classroom furniture.

LIQUID TECH SOLUTIONS LLC: $50 million add-on term loan talked at SOFR+CSA plus 475 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; Citizens; repay revolver borrowings; tech-enabled provider of route-based, on-site mobile refueling solutions.

MICHAEL BAKER INTERNATIONAL LLC: $125 million incremental first-lien term loan due December 2028 talked at SOFR plus 500 bps, 0.75% floor, OID 98.8; UBS; fund an acquisition and repay ABL facility borrowings; Pittsburgh-based provider of engineering and consulting services, focused on complex infrastructure challenges.

PLAYCORE: $640 million first-lien term B (B2/B) due March 2027 talked at SOFR plus 425 bps to 450 bps, 1% floor, OID 98, 101 soft call for six months; Goldman Sachs; refinance existing first- and second-lien term loans and add cash to the balance sheet; Chattanooga, Tenn., designer, manufacturer and marketer of commercial playground, park, recreation and specialty equipment and related complementary products.

QUIKRETE HOLDINGS INC.: $1.679 billion covenant-lite term B-1 due March 18, 2029 talked at SOFR+CSA plus 275 bps, CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, 0% floor, issue price par, 101 soft call for six months; Wells Fargo; repricing; Atlanta-based packaged cement products company.

SONICWALL: $650 million first-lien term loan due May 2028 at SOFR plus 500 bps, 0.5% floor, OID 97, 101 soft call for six months; UBS, RBC, Mizuho and Truist; amend and extend, and refinance a portion of existing second-lien term loan; Milpitas, Calif., provider of network security solutions.

STANDARDAERO (DYNASTY ACQUISITION CO.): $2.575 billion of first-lien term loan debt (B3/B-) (split between $1.8025 billion term B-1 and $772.5 million term B-2) due August 2028 at SOFR plus 400 bps, 25 bps step-down upon an IPO, 0% floor, OID 99, 101 soft call for six months; UBS and RBC; amend and extend existing first-lien term loan and refinance existing 2021 incremental first-lien term loan; Scottsdale, Ariz., provider of aircraft engine maintenance, repair and overhaul services.

TECTA AMERICA CORP.: $200 million incremental covenant-lite term B (B2/B) due April 10, 2028 talked at SOFR+CSA plus 450 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, 101 soft call for six months; Wells Fargo and RBC; repay existing second-lien term loan and pre-fund acquisitions; Rosemont, Ill., provider of commercial roofing services.

TENNECO INC.: Expected closing Aug. 18; $1.243 billion senior secured covenant-lite term B (B1) due November 2028 at SOFR+10 bps CSA plus 500 bps, 0.5% floor, OID 85, 101 soft call through Nov. 17, 2023; Citigroup, BofA Securities, Barclays, BNP Paribas, Jefferies, RBC, TD Securities, Wells Fargo, Deutsche Bank, BMO, Credit Suisse, Goldman Sachs, ING, Mizuho, MUFG, Santander and U.S. Bank; help repay senior secured interim credit facility associated with the buyout of the company by Apollo; Lake Forest, Ill., designer, manufacturer and marketer of automotive products for original equipment and aftermarket customers.

US FOODS INC.: Expected closing Aug. 21 week; $722 million covenant-lite term loan due Nov. 22, 2028 talked at SOFR+CSA plus 250 bps, CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, 0% floor, issue price par, 101 soft call for six months; Citigroup; repricing; Rosemont, Ill., foodservice 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.

ARAMARK UNIFORM SERVICES: Roughly $1.8 billion credit facilities; $300 million revolver; $1.5 billion in term loan debt; help fund spin-off from Aramark; provider of full-service rental programs with programs focused on uniforms, floor mats, towels, linens, managed restroom and first aid services.

BAUSCH + LOMB CORP.: New debt financing; JPMorgan; fund acquisition of Xiidra, libvatrep and AcuStream from Novartis; Vaughan, Ont., eye health company.

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.

EVERTEC INC.: $600 million in one or more incremental term B loans; Truist; help fund acquisition of Sinqia; Puerto Rico-based full-service transaction processing company.

FIRE & SECURITY HOLDINGS LLC: New debt financing; help fund buyout by GTCR from ADT Inc.; commercial security, fire and life safety company.

FOGO DE CHAO: New debt financing; Deutsche Bank; help fund buyout by Bain Capital Private Equity from Rhone Capital; Dallas-based steakhouse chain.

FORWARD AIR CORP.: New credit facilities; Morgan Stanley, Citigroup, Goldman Sachs and JPMorgan; term B; $400 million revolver; help fund acquisition of Omni Logistics LLC from Ridgemont Equity Partners and EVE Partners LLC and refinance existing debt; Greeneville, Tenn., provider of transportation services.

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.

HERITAGE-CRYSTAL CLEAN INC.: New senior secured credit facilities; Jefferies and SMBC; revolver; first-lien term loan; help fund buyout by J.F. Lehman & Co.; Hoffman Estates, Ill., provider of parts cleaning, hazardous and non-hazardous waste services, used oil re-refining, antifreeze recycling, industrial and field services, and emergency and spill response services.

SIMON & SCHUSTER: New credit facilities; Jefferies, KKR, UBS, HSBC, RBC, Mizuho and Goldman Sachs; roughly $1.1 billion term loan; revolver; help fund buyout by KKR from Paramount Global; New York-based general interest publishing company.

SYNEOS HEALTH INC.: $2.7 billion senior secured credit facilities; Goldman Sachs, UBS, RBC, BMO, HSBC, Wells Fargo, Citigroup, Jefferies, Macquarie, Natixis and Truist; $500 million revolver; $2.2 billion term loan; 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.

VERITIV CORP.: New debt financing; Goldman Sachs, RBC, Wells Fargo, BMO and UBS; help fund buyout by Clayton, Dubilier & Rice LLC; Atlanta-based distributor of packaging, facility solutions and print 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.

WORLDPAY: New debt financing; JPMorgan, Goldman Sachs, Citigroup, Wells Fargo, Deutsche Bank and UBS; help fund buyout of a majority stake by GTCR from Fidelity National Information Services Inc. (FIS); provider of payment processing solutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.