Bank Loan Calendar: $22.654 billion deals being marketed

October Lender Calls

ADT INC. (PRIME SECURITY SERVICES BORROWER LLC): Lender call Oct. 3; $1.4 billion seven-year term B, 101 soft call for six months; Barclays, Deutsche Bank, Mizuho, RBC, Citigroup, Morgan Stanley, MUFG, BNP Paribas and Citizens; help refinance an existing term B; Boca Raton, Fla., provider of security, automation and smart home solutions services.

CITCO: Lender call Oct. 3; $410 million add-on term B; Goldman Sachs; fund minority shareholder recapitalization; hedge fund, private equity and real estate administrator.

HOMESERVE NORTH AMERICA: Lender call Oct. 3; $1.05 billion seven-year term B, 101 soft call for six months; Deutsche Bank, MUFG, RBC, ING, BofA Securities and Brookfield; refinance existing capital structure; Norwalk, Conn., provider of low-cost service plans, repair and energy efficiency services.

Upcoming Closings

ALPHIA INC.: $640 million seven-year term B (B2/B) at SOFR plus 500 bps, 0.5% floor, OID 95, 101 soft call for one year; 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.

API GROUP DE INC.: $2.012 billion of term loans (Ba1/BB-); Citigroup; minimum $985 million covenant-lite first-lien term B due Jan. 3, 2029 talked at SOFR+CSA plus 225 bps to 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; maximum $1.027 billion covenant-lite first-lien term B due Oct. 10, 2026 talked at SOFR+CSA plus 200 bps to 225 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; repricing of 2029 and 2026 term loans and option to extend 2026 term loan debt to 2029; New Brighton, Minn., business services provider of safety, specialty and industrial services.

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.

BERRY GLOBAL GROUP INC.: $3.09 billion first-lien term loan due July 2029 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, 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.

CDK GLOBAL INC.: $3.582 billion term B due July 2029 at SOFR plus 400 bps, 0% floor, OID 99.75, 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.

DELRIN: $700 million equivalent U.S. and euro seven-year first-lien term loan (U.S. tranche has minimum size of $500 million) (B2/B+); Goldman Sachs, RBC, BMO, UBS, KeyBanc and KKR; U.S. term loan talked at SOFR plus 450 bps, 0.5% floor, OID 98 to 98.5, 101 soft call for six months; euro term loan talked at Euribor plus 450 bps, 0% floor, OID 98 to 98.5, 101 soft call for six months; 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.

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 (B3/B-) 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.

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.

INEOS ENTERPRISES HOLDINGS LTD.: €645 million equivalent U.S. and euro senior secured add-on term B (Ba3/BB/BB+) due July 7, 2030; Barclays (sole on U.S.), MUFG and NatWest; add-on U.S. term loan talked at SOFR+10 bps CSA plus 375 bps, 0% floor, OID 98.5 to 99, 101 soft call until January 2024; add-on euro term loan talked at Euribor plus 400 bps, 0% floor, OID 98.5 to 99, 101 soft call until January 2024; refinancing all existing term A and euro term B debt due 2026; London-based specialty and commodity chemical producer.

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 (B); 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.

LIFEPOINT HEALTH INC.: Expected closing Oct. 9 week; $1.85 billion senior secured covenant-lite term B (B2) due November 2028 at SOFR plus 550 bps, 0% floor, OID 97, 101 soft call for six months; Citigroup, Barclays, RBC, Goldman Sachs, JPMorgan, Morgan Stanley, Capital One, Wells Fargo, Deutsche Bank, BofA Securities, Truist, Mizuho, BMO, SWS and Regions; help refinance/extend an existing term loan; 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 (B2/B+); 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.

PATRIOT RAIL: $100 million add-on term B due October 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, 0.25% 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.

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.

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

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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