Bank Loan Calendar: $32.7412 billion deals being marketed

October Lender Calls

DELRIN: Lender call Oct. 2; $700 million equivalent U.S. and euro first-lien term loan (U.S. tranche has minimum size of $500 million) due 2030; Goldman Sachs, RBC, BMO, UBS, KeyBanc and KKR; help fund acquisition of an 80.1% ownership interest in the company by The Jordan Co. from DuPont; producer of acetal homopolymer, a high-end engineering thermoplastic.

Upcoming Closings

ALPHIA INC.: $640 million seven-year term B (B2/B) talked at SOFR plus 450 bps, 0.5% floor, OID 97 to 98, 101 soft call for six months; Goldman Sachs, Jefferies, BMO, Citizens, Deutsche Bank, Morgan Stanley, Rabobank, SMBC and Wells Fargo; help fund buyout of by PAI Partners from J.H. Whitney Capital Partners; Denver-based contract manufacturer of dry pet food and treats.

ARAMSCO INC.: $585 million credit facilities; Jefferies, Goldman Sachs, Antares, KeyBanc and SMBC; $80 million five-year ABL revolver; $430 million seven-year first-lien term loan (B3/B-) talked at SOFR plus 475 bps, 25 bps leverage-based step-down and 25 bps step-down upon an IPO, 0% floor, OID 98, 101 soft call for six months; $75 million seven-year with 24-month availability first-lien delayed-draw term loan (B3/B-) talked at SOFR plus 475 bps, 25 bps leverage-based step-down and 25 bps step-down upon an IPO, 0% floor, OID 98; help fund buyout by American Securities; Paulsboro, N.J., distributor to specialty contractors and facility maintenance professionals.

ASSUREDPARTNERS: Expected closing Oct. 2 week; roughly $896.3 million first-lien senior secured term B-4 (including $400 million incremental) (B2/B) due Feb. 13, 2027 at SOFR plus 375 bps, 0.5% floor, issue price par, 101 soft call for six months; Morgan Stanley (sole on repricing), BofA Securities, Barclays, JPMorgan, BMO, Goldman Sachs, RBC, Deutsche Bank, Mizuho, Credit Suisse, Macquarie and ING; repricing, fund acquisitions under letters of intent and general corporate purposes; Lake Mary, Fla., insurance brokerage firm.

BERRY GLOBAL GROUP INC.: $3.09 billion first-lien term loan due July 2029 talked at SOFR+CSA plus 175 bps, CSA is 11 bps one-month rate, 26 bps three-month rate and 43 bps six-month rate, 0% floor, OID 99.75 to 99.875, 101 soft call for six months; Goldman Sachs; amend and extend; Evansville, Ind., supplier of rigid, flexible and non-woven products sold into consumer-oriented end markets.

BJ’S WHOLESALE CLUB INC.: $400 million covenant-lite term B due February 2029 talked at SOFR plus 200 bps to 225 bps, 0% floor, issue price par, 101 soft call for six months; Deutsche Bank, Nomura, BofA Securities and Wells Fargo; refinance existing debt; Marlborough, Mass., warehouse club operator.

BOMBARDIER RECREATIONAL PRODUCTS INC.: Roughly $496.3 million term B-3 due Dec. 13, 2029 talked at SOFR plus 250 bps to 275 bps, 0.5% floor, issue price par, 101 soft call for six months; BMO, RBC and TD Securities; repricing; Valcourt, Quebec, manufacturer and seller of recreational products.

CDK GLOBAL INC.: $3.582 billion term B due July 2029 talked at SOFR plus 375 bps to 400 bps, 0% floor, OID 99.875 to par, 101 soft call for six months; Goldman Sachs; repricing; Hoffman Estates, Ill., provider of a fully integrated cloud-based software platform to auto dealerships and original equipment manufacturers.

CHART INDUSTRIES INC.: Expected closing in October; $1.781 billion senior secured term B due March 17, 2030 at SOFR+10 bps CSA plus 325 bps, 0.5% floor, OID 99.75, 101 soft call for six months; JPMorgan, HSBC, Morgan Stanley and PNC; repricing; Ball Ground, Ga., manufacturer of highly engineered equipment servicing the energy and industrial gas markets.

CHG HEALTHCARE: Expected closing Oct. 2; $580 million incremental first-lien term loan due September 2028 (B2/B) at SOFR plus 375 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.

DXP ENTERPRISES INC.: $550 million term B (B2/B) due 2030 talked at SOFR+10 bps CSA plus 450 bps to 475 bps, 1% floor, OID 98.5 to 99, 101 soft call for six months; Goldman Sachs; help refinance an existing term B and add cash to the balance sheet for acquisitions; Houston-based products and services distributor that adds value and cost savings solutions to industrial customers.

EVERTEC INC.: $600 million seven-year covenant-lite term B (Ba3/BB-) talked at SOFR plus 375 bps to 400 bps, 0.5% floor, OID 98.5, 101 soft call for six months; Truist; help fund acquisition of Sinqia; Puerto Rico-based full-service transaction processing company.

FR REFUEL LLC: $120 million incremental covenant-lite first-lien term loan due Nov. 8, 2028 talked at SOFR plus 475 bps, 0.75% floor, OID 97, 101 soft call for six months; Citizens; term out revolver outstandings and fund an acquisition; Charleston, S.C., regional convenience store operator.

GATES GLOBAL: Expected closing Oct. 2 week; $570.6 million senior secured term B-4 (Ba3/B+) due November 2029 talked at SOFR plus 300 bps to 325 bps, 0.5% floor, issue price par, 101 soft call for six months; Citigroup; repricing; Denver-based manufacturer of application-specific fluid power and power transmission solutions.

GEOSTABILIZATION INTERNATIONAL: $175 million first-lien term loan due December 2028 talked at SOFR plus 525 bps, 0% floor, OID 98.5 to 99, 101 soft call for six months; UBS and KKR; amend and extend; provider of geohazard mitigation solutions.

GIP III STETSON: $700 million five-year term B (B2) talked at SOFR+10 bps CSA plus 425 bps, 0% floor, OID 98.5 to 99, 101 soft call for six months; BofA Securities, MUFG and others; amend and extend; owner of a controlling stake in EnLink, a midstream energy company.

HERITAGE-CRYSTAL CLEAN INC. (JFL-TIGER ACQUISITION CO. INC.): $700 million credit facilities (B2/B); Jefferies and SMBC; $100 million five-year revolver; $600 million seven-year first-lien term loan talked at SOFR plus 525 bps, 0.5% floor, OID 97 to 97.5, 101 soft call for six months; help fund buyout by J.F. Lehman & Co.; Hoffman Estates, Ill., provider of provider of specialized environmental and waste management services.

HILTON GRAND VACATIONS BORROWER LLC: $1.277 billion term B (Ba1/BBB-/BBB-) due Aug. 2, 2028 talked at SOFR+CSA plus 250 bps to 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; BofA Securities; repricing; Orlando, Fla., timeshare company.

INTERNATIONAL-MATEX TANK TERMINALS (ITT HOLDINGS LLC): $750 million seven-year sustainability-linked term B (Ba2/BB-) talked at SOFR plus 300 bps to 325 bps, 0.5% floor, OID 98 to 98.25, 101 soft call for six months; Wells Fargo, CIBC and MUFG; refinance existing term B and fund cash to the balance sheet; New Orleans-based pure play bulk liquid storage and handling provider.

INTERSTATE WASTE SERVICES: $575 million seven-year term B (including $75 million delayed-draw) (B2/B) talked at SOFR plus 450 bps, 0.5% floor, OID 98 to 98.5, 101 soft call for six months; JPMorgan, BMO, Comerica, MUFG and Stifel; repay existing debt, pay minority shareholders and add cash to the balance sheet in connection with an investment from Ares Management; Teaneck, N.J., provider of waste and recycling services.

ISOLVED: $625 million credit facilities; UBS, Deutsche Bank, Citigroup, Jefferies and JPMorgan; $75 million five-year revolver; $550 million seven-year first-lien term loan talked at SOFR plus 425 bps, 0.5% floor, OID 99, 101 soft call for six months; repay existing debt, fund cash to the balance sheet and general corporate purposes; provider of cloud based human capital management software.

J.D. POWER: $525 million incremental first-lien term loan (B2/B-/BB-) due May 2026 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 99.51, 101 soft call for six months; RBC, UBS, TD Securities, Truist and KKR; fund acquisition of Autovista Group; Troy, Mich., provider of consumer insights, advisory services and data and analytics.

LIFEPOINT HEALTH INC.: $2 billion senior secured covenant-lite term B (B2) due November 2028 talked at SOFR plus 525 bps to 550 bps, 0% floor, OID 97, 101 soft call for six months; Citigroup; Brentwood, Tenn., operator of general acute care hospitals, community hospitals, regional health systems, physician practices, outpatient centers and post-acute care facilities.

MEDIMPACT (MI OPCO HOLDINGS INC.): $1.2 billion of 5.5-year first-lien term loans; BofA Securities; $550 million term B talked at SOFR+10 bps CSA plus 550 bps to 575 bps, 0% floor, OID 99, non-call one; $650 million delayed-draw term B talked at SOFR+10 bps CSA plus 550 bps to 575 bps, 0% floor, OID 99, non-call one; repay revolver and term A borrowings and fund potential near-term acquisition opportunities; San Diego-based pharmacy benefit manager.

MKS INSTRUMENTS INC.: Roughly $3.573 billion term B due August 2029 talked at SOFR plus 250 bps, 0.5% floor, OID 99.75 to par, 101 soft call for six months; JPMorgan; repricing; Andover, Mass., provider of technology solutions to semiconductor manufacturing, electronics and packaging, and specialty industrial applications.

PATRIOT RAIL: $100 million add-on term B due October 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, 0.25% floor, OID 99.27, 101 soft call for six months; RBC; general corporate purposes and fund a dividend; Jacksonville, Fla., owner of a portfolio of short-line railroads, port terminals and related infrastructure assets, providing transportation and logistics solutions.

POWERSCHOOL HOLDINGS INC. (SEVERIN ACQUISITION LLC): $840 million first-lien term loan (B2) due Aug. 1, 2027 talked at SOFR plus 325 bps, step-down to SOFR plus 300 bps at 0.25x inside closing total first-lien net leverage, 0% floor, OID 99.5, 101 soft call for six months; Barclays; amend and extend; Folsom, Calif., provider of cloud-based software for K-12 education.

PROMETRIC HOLDINGS INC.: $572 million first-lien term loan (B2/B-) due Jan. 29, 2028 talked at SOFR plus 525 bps, 0.5% floor, OID 97, 101 soft call for six months; Barclays, Deutsche Bank, Morgan Stanley and Nomura; amend and extend existing first-lien term loan; provider of technology-enabled testing and assessment services.

ROCKET SOFTWARE INC.: $1.41 billion first-lien term B (B2/B-) due November 2028 at SOFR plus 475 bps, 0.5% floor, OID 98.5, 101 soft call for six months; RBC, Credit Suisse, Barclays, Citigroup, Deutsche Bank, Goldman Sachs and Truist; also €575 million first-lien term B (B2/B-) due November 2028 at Euribor plus 475 bps, 0% floor, OID 98.5, 101 soft call for six months; extend existing first-lien term loans; Waltham, Mass., infrastructure software provider.

SPRING EDUCATION GROUP: $950 million credit facilities (B2/B-); Macquarie and Goldman Sachs; $100 million five-year revolver; $850 million seven-year term B talked at SOFR plus 450 bps to 475 bps, 0% floor, OID 98.5, 101 soft call for six months; refinance existing credit facilities; Campbell, Calif., provider of pre-K through 12th grade education.

THE KNOT: $765 million term B (B2) due January 2028 talked at SOFR plus 425 bps to 450 bps, 0% floor, OID 99.5, 101 soft call for six months; JPMorgan; amend and extend and fund a dividend; multiplatform wedding resource.

VERTEX AEROSPACE SERVICES CORP.: $913 million term B (B1/B+) due Dec. 6, 2028 at SOFR+10 bps CSA plus 325 bps, 0.75% floor, OID 99.875, 101 soft call for six months; RBC; repricing; McLean, Va., provider of solutions across the operations and logistics, aerospace, training, and technology markets.

WHITEWATER WHISTLER HOLDINGS LLC: $500 million senior secured term B (Ba2/BB+) due Feb. 15, 2030 talked at SOFR plus 275 bps, 0% floor, issue price par, 101 soft call for six months; Barclays; repricing; owner-operated Gulf Coast natural gas pipeline.

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 spinoff from Aramark; provider of full-service rental programs with programs focused on uniforms, floor mats, towels, linens, managed restroom and first aid services.

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.

CETERA FINANCIAL GROUP: New debt financing; fund acquisition of Avantax Inc.; San Diego-based financial advisor Wealth Hub.

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

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.

HERSHA HOSPITALITY TRUST: New debt financing; Wells Fargo and Citigroup; help fund buyout by KSL Capital Partners LLC; Harrisburg, Pa. real estate investment trust that owns luxury and lifestyle hotels.

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, UBS, BNP Paribas, Mizuho, TD Securities, Rabobank, Natixis, Regions, Citizens, ING, Stifel and Scotia; help fund buyout by Clayton, Dubilier & Rice LLC; Atlanta-based distributor of packaging, facility solutions and print products.

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