Bank Loan Calendar: $10.033 billion deals being marketed

November Lender Calls

PERRIGO: Lender call Nov. 13; $300 million add-on term B due 2029 talked at SOFR+10 bps CSA plus 225 bps, 25 bps step-up at more than 4.8x total net leverage, 0.5% floor, OID 98.79 to 99; JPMorgan; help fund notes tender offer; Dublin-based provider of self-care products and over-the-counter health and wellness solutions.

SYSTEM ONE: Lender call Nov. 13; $65 million add-on covenant-lite term B due March 2028; Truist; fund an acquisition; Pittsburgh-based provider of specialized workforce solutions and integrated services.

TEKNI-PLEX INC. (TRIDENT TPI HOLDINGS INC.): Lender call Nov. 13; $200 million incremental first-lien term B due September 2028, 101 soft call for six months; UBS, Jefferies and BMO; fund acquisition of Seisa Medical; Wayne, Pa., provider of health care and consumer material solutions.

Upcoming Closings

A-GAS FINCO INC.: $520 million seven-year senior secured covenant-lite term B (B2/B) talked at SOFR plus 500 bps, 25 bps step-downs at 0.5x and 1x inside opening senior secured net leverage, 0% floor, OID 96 to 97, 101 soft call for six months; Citigroup, HSBC, Guggenheim and Truist; help fund acquisition of a majority stake by TPG from KKR; U.K.-based supplier and lifecycle manager of refrigerant and industrial gases, fire suppressants and blowing agents.

ARCHKEY HOLDINGS INC.: $75 million delayed-draw term loan (B2/B) due June 29, 2028 at SOFR+CSA plus 525 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 99.125 plus duration fee of 2.125% (all-in OID 97); Deutsche Bank; fund a distribution to equity holders; St. Louis-based electrical and technologies service provider.

AUGUSTA SPORTSWEAR BRANDS: $390 million senior secured credit facilities; Antares; $50 million revolver; $340 million six-year covenant-lite term loan talked at SOFR plus 600 bps, 1% floor, OID 98, hard call 102, 101; support buyout by Platinum Equity; Grovetown, Ga., supplier of team uniforms and off-field performance wear.

BUCKEYE PARTNERS LP: $1 billion term B (Ba1/BB+/BBB-) talked at SOFR plus 250 bps to 275 bps, no floor, OID 99.5, 101 soft call for six months; MUFG; fund a partial refinancing of existing term B due 2026 and revolver; Houston-based owner and operator of integrated midstream assets.

CULLIGAN INTERNATIONAL CO. (AI AQUA MERGER SUB INC.): $1.15 billion of term loans; Morgan Stanley, JPMorgan, BofA Securities and Goldman Sachs; $950 million senior secured incremental covenant-lite first-lien term B (B3/B) due July 30, 2028 talked at SOFR plus 450 bps, 25 bps step-downs at 4.75x and 4.25x net first-lien leverage, 0.5% floor, OID 97, 101 soft call for six months; $200 million delayed-draw term loan due July 30, 2028 talked at SOFR plus 450 bps, 25 bps step-downs at 4.75x and 4.25x net first-lien leverage, 0.5% floor, OID 97; fund acquisition of Primo Water Corp.’s international businesses (Primo Europe), repay revolver borrowings and add cash to the balance sheet; Rosemont, Ill., provider of water treatment products and services.

EVERISE: $425 million seven-year covenant-lite term B (B3/B-) talked at SOFR plus 550 bps to 575 bps, 0% floor, OID 97, 101 soft call for six months; BMO, Standard Chartered, ING, Scotia and Societe Generale; fund acquisition of a roughly 47% equity stake in the company by Warburg Pincus from Brookfield Asset Management and other shareholders; Plantation, Fla., healthcare services outsourcing company.

FAIRBANKS MORSE DEFENSE (ARCLINE FM HOLDING LLC): $185 million incremental first-lien term loan (B) due June 23, 2028 talked at SOFR+CSA plus 525 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 97 to 97.5; Jefferies; refinance an acquisition term loan, pay down ABL revolver borrowings and add cash to the balance sheet; Beloit, Wis., provider of mission-critical propulsion and power generation systems, material handling devices, valves, actuators, motors and other hi-rel electrical components for the US Navy and US Coast Guard.

GREENWAY HEALTH LLC: $375 million 5.25-year first-lien term loan (B3/B-) talked at SOFR plus 575 bps to 600 bps, 0% floor, OID 97, 101 soft call for one year; Jefferies; refinance existing debt; Tampa, Fla., provider of software solutions to office-based physician practices and community health centers.

HERTZ CORP.: $400 million incremental senior secured term B (Ba3//BB) due June 30, 2028 talked at SOFR plus 375 bps to 400 bps, 0% floor, OID 97.5 to 98, 101 soft call for six months; Barclays, Goldman Sachs and others; repay revolver borrowings and general corporate purposes; Estero, Fla., car rental company.

IVC EVIDENSIA: $1.25 billion five-year senior secured term B (B3//B) talked at SOFR plus 525 bps to 550 bps, 0.5% floor, OID 98, 101 soft call for six months; Barclays, Goldman Sachs, HSBC, Natwest, SMBC, BofA Securities, CIBC, Citigroup, Credit Agricole, RBC and Santander on U.S, euro and pound sterling, and Mizuho on euro and pound sterling only; also €2.13 billion five-year senior secured term B (B3//B) talked at Euribor plus 500 bps to 525 bps, 0% floor, OID 98, 101 soft call for six months; £900 million five-year senior secured term B (B3//B) talked at Sonia plus 575 bps, 0% floor, OID 97 to 97.5, 101 soft call for six months; repay existing VS debt facilities, repay and extend existing pound sterling and euro term loans and repay revolver borrowings; veterinary services provider

NORTHSTAR GROUP SERVICES INC.: $835 million credit facilities; Macquarie; $125 million four-year ABL revolver; $710 million five-year covenant-lite first-lien term loan (B2/B+) talked at SOFR plus 525 bps, 0% floor, OID 97.5 to 98, 101 soft call for six months; refinance existing credit facilities; New York-based provider of diversified infrastructure and environmental services.

SMYRNA READY MIX CONCRETE LLC: $538 million term B (Ba3) due 2029 talked at SOFR plus 375 bps to 400 bps, 0% floor, OID 99.75, 101 soft call for six months; JPMorgan; help fund acquisitions, and pay down term loan and asset-based lending borrowings; Murfreesboro, Tenn., manufacturer and retailer of ready-mixed concrete.

TRANSNETWORK LLC: $300 million term B (B2/B) talked at SOFR plus 550 bps to 575 bps, 0.5% floor, OID 97 to 97.5, 101 soft call for six months; Truist; fund acquisition of PNC Payment Holdings Inc. and refinance existing debt; Houston-based payment processor.

VERITIV CORP.: $1.525 billion credit facilities; RBC, Goldman Sachs, Wells Fargo, BMO, UBS, BNP Paribas, Mizuho, TD Securities, Natixis, Rabobank, Regions, Citizens, ING, Stifel and Scotia; $700 million seven-year term B (B2/B+) talked at SOFR plus 450 bps, 0% floor, OID 98; $825 million five-year ABL revolver; help fund buyout by Clayton, Dubilier & Rice LLC; Atlanta-based distributor of packaging, facility solutions and print products.

XEROX CORP.: $500 million six-year first-lien term loan (Ba1/BBB-) talked at SOFR plus 400 bps, 0.5% floor, OID 98, 101 soft call for six months; Jefferies, Citigroup, Credit Agricole, HSBC, Mizuho, PNC and Scotia; refinance a bridge loan; Norwalk, Conn., supplier of print and digital document products and services.

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.

CEDAR FAIR/SIX FLAGS: New debt financing; Goldman Sachs; $800 million of revolving credit commitments; refinance some existing debt in connection with merger of Cedar Fair and Six Flags Entertainment Corp.; Charlotte, N.C., amusement park operator.

CSG ELEVATE II INC.: New debt financing; JPMorgan; help fund acquisition of Vista Outdoor Inc.’s Sporting Products business by Czechoslovak Group; Anoka, Minn., ammunition manufacturer.

DAVIS-STANDARD LLC: New debt financing; Wells Fargo, BMO, UBS, Deutsche Bank, Stifel and Citizens; fund acquisition of the Extrusion Technology Group from Nimbus; Pawcatuck, Conn., provider of extrusion equipment and services.

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.

HILTON GRAND VACATIONS INC.: $900 million seven-year senior secured term loan (Ba2); BofA Securities, Deutsche Bank, Barclays and JPMorgan; help fund acquisition of Bluegreen Vacations; Orlando, Fla., timeshare company.

INSTRUCTURE HOLDINGS INC.: Roughly $685 million incremental credit facility debt; help fund acquisition of Parchment; Salt Lake City-based education technology company.

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.

TRANSDIGM GROUP INC.: New debt financing; help fund acquisition of Communications & Power Industries’ electron device business; Cleveland-based designer, producer and supplier of highly engineered aircraft components for commercial and military aircraft.

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