Bank Loan Calendar: $18.835 billion deals being marketed

November Lender Calls

ENVERUS: Lender call Nov. 16; $2.25 billion unitranche facility; Golub; refinance existing debt, and provide for future merger and acquisition activity; Austin, Tex., provider of mission critical data and analytics and business automation software solutions for the energy and power industries.

Upcoming Closings

84 LUMBER CO.: $450 million seven-year covenant-lite term B (Ba2/BB-) talked at SOFR+10 bps CSA plus 300 bps, 0% floor, OID 99 to 99.5, 101 soft call for six months; Wells Fargo; help refinance existing term B; Eighty Four, Pa., supplier of building materials, manufactured components and services.

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.

AMERICAN AIRLINES INC.: Expected closing Nov. 27 week; $750 million 5.5-year term B (Ba2/BB/BB-) talked at SOFR plus 350 bps to 375 bps, 0% floor, OID 98.5, 101 soft call for six months; Citigroup, BofA Securities and Morgan Stanley; help refinance notes; Fort Worth airline company.

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-) at SOFR plus 250 bps, 0% floor, OID 99.75, 101 soft call for six months; MUFG, Truist, CIBC, Wells Fargo, TD Securities, ING, Mizuho, JPMorgan, Goldman Sachs, Santander and National Australia Bank; fund a partial refinancing of existing term B due 2026 and revolver borrowings; Houston-based owner and operator of integrated midstream assets.

CULLIGAN INTERNATIONAL CO. (AI AQUA MERGER SUB INC.): Expected closing Dec. 29; $1.15 billion senior secured incremental covenant-lite first-lien term B (including $200 million unfunded delayed-draw tranche) due July 30, 2028 (B3/B) at SOFR plus 425 bps, 25 bps step-down at 4.75x net first-lien leverage, 0.5% floor, OID 97, 101 soft call for six months; Morgan Stanley, JPMorgan, BofA Securities and Goldman Sachs; 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., health care services outsourcing company.

FAIRBANKS MORSE DEFENSE (ARCLINE FM HOLDING LLC): $210 million incremental first-lien term loan due June 23, 2028 (B2/B) 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 98; 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 U.S. Navy and U.S. Coast Guard.

FLUTTER ENTERTAINMENT PLC: $2.68 billion term B due 2030 (Ba1/BBB-/BBB) talked at SOFR plus 250 bps to 275 bps, 0.5% floor, OID 99.5, 101 soft call for six months; JPMorgan, Wells Fargo, BofA Securities, Barclays, Citigroup, Mediobanca, NatWest, Santander, AIB, Citizens, Lloyds and Mizuho; refinance term B due 2026; Dublin-based sports betting and gaming operator.

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.

IMA FINANCIAL GROUP: $350 million add-on covenant-lite term B-1 due November 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, 0.5% floor, OID 99.04 to 99.25; BMO; refinance existing term B-2, repay revolver borrowings and fund an acquisition; Denver-based property and casualty and employee-benefit specialty insurance brokerage.

INSTRUCTURE HOLDINGS INC.: $685 million add-on term B due October 2028 (//BB+) 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, 0.5% floor, OID 99.03, 101 soft call for six months; JPMorgan, Macquarie, Morgan Stanley, Golub and Goldman Sachs; help fund acquisition of Parchment; Salt Lake City-based education technology company.

IQVIA INC.: Minimum $1.5 billion term B due 2031 (Baa3/BBB-) talked at SOFR plus 225 bps to 250 bps, 0% floor, OID 99, 101 soft call for six months; JPMorgan; help repay euro term loan B-1 due 2024 and some U.S. term loan borrowings due 2025; Danbury, Conn., provider of advanced analytics, technology solutions and contract research services to the life sciences industry.

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.

PERRIGO: $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.

PREMISTAR: $75 million add-on covenant-lite first-lien term loan due August 2028 talked at SOFR plus 450 bps, 0.75% floor, OID 99.03; Truist; general corporate purposes, including acquisitions; Deerfield, Ill., provider of commercial heating, ventilation and air conditioning services.

SYSTEM ONE: $65 million add-on covenant-lite term B due March 2028 at SOFR plus 400 bps, 0.75% floor, OID 99.25; Truist; fund an acquisition; Pittsburgh-based provider of specialized workforce solutions and integrated services.

TEKNIPLEX INC. (TRIDENT TPI HOLDINGS INC.): $200 million incremental first-lien term B-4 due Sept. 17, 2028 (B2/B-) talked at SOFR plus 525 bps, 0.5% floor, OID 97 to 97.5, 101 soft call for six months; UBS, Jefferies and BMO; fund acquisition of Seisa Medical Holdings Inc.; Wayne, Pa., provider of health care and consumer material solutions.

TRANSDIGM GROUP INC.: $1 billion first-lien term J due February 2031 (Ba3/B+) at SOFR plus 325 bps, 0% floor, OID 99.75, 101 soft call for six months; Goldman Sachs; help fund acquisition of Communications & Power Industries’ electron device business and general corporate purposes; Cleveland-based designer, producer and supplier of highly engineered aircraft components for commercial and military aircraft.

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.: $550 million six-year first-lien term loan (Ba1/BBB-) at SOFR plus 400 bps, 0.5% floor, OID 97, 101 soft call for six months; Jefferies, Citigroup, Credit Agricole, PNC, Mizuho, Scotia and HSBC; 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.

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.

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