Bank Loan Calendar: $15.6035 billion deals being marketed

November Lender Calls

BMC SOFTWARE: Lender call Nov. 28; $3 billion equivalent of term loans; Goldman Sachs and KKR; $2 billion term B due December 2028; $1 billion equivalent euro term B due December 2028; amend and extend some existing U.S. and euro term loans; Houston-based provider of IT software solutions.

BROOKFIELD NGPL (BIP PIPECO HOLDINGS LLC): Lender call Nov. 28; $465 million seven-year senior secured term loan, 101 soft call for six months; Barclays, RBC, CIBC and Santander; pay a distribution to Brookfield; natural gas pipeline system.

SURGERY PARTNERS INC. (SURGERY CENTER HOLDINGS INC.): Lender call Nov. 28; roughly $2.104 billion credit facilities (B); Jefferies, Barclays, JPMorgan, BofA Securities, Wells Fargo, Capital One, RBC, Mizuho, Fifth Third, SVB, KKR and SMBC; roughly $704 million five-year revolver; $1.4 billion seven-year first-lien term loan talked at SOFR plus 375 bps to 400 bps, 0% floor, OID 99, 101 soft call for six months; refinance existing credit facilities; Nashville, Tenn., operator of short-stay surgical facilities.

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.

AMERICAN AIRLINES INC.: Expected closing Dec. 4; $1.1 billion 5.5-year term B (Ba2/BB/BB-) at SOFR plus 350 bps, 0% floor, OID 99, 101 soft call for six months; Citigroup, BofA Securities, Morgan Stanley, Barclays, Deutsche Bank, Goldman Sachs, JPMorgan, SMBC, BNP Paribas, Credit Agricole, MUFG, US Bank and Bank of Texas; help refinance notes; Fort Worth airline company.

ATLANTIC AVIATION: $1.069 billion first-lien term loan due 2028 talked at SOFR plus 325 bps to 350 bps, 0.5% floor, issue price par for existing lenders, OID 99.75 for new money, 101 soft call for six months; KKR; repricing; operator of fixed base operations, providing a full suite of critical services to the private aviation sector.

AVIS BUDGET GROUP INC.: Roughly $540 million term C due March 2029 talked at SOFR+10 bps CSA plus 300 bps, 0.5% floor, OID 99.75 to par, 101 soft call for six months; JPMorgan; repricing; Parsippany, N.J., provider of vehicle rental services.

CHARTER COMMUNICATIONS OPERATING LLC: Roughly $2.3 billion seven-year term B-4 (Ba1/BBB-) talked at SOFR plus 200 bps, 0% floor, OID 99.5 to 99.75, 101 soft call for six months; BofA Securities; refinance term B-1; Stamford, Conn., cable telecommunications company.

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.

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.

LIFE TIME INC.: $310 million covenant-lite term B due January 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, 0.5% floor, issue price par, 101 soft call for six months; Deutsche Bank; repricing; Chanhassen, Minn., operator of athletic resorts.

NORTHEAST GROCERY INC.: $550 million five-year term B (B3/B+/BB+) talked at SOFR plus 750 bps, 1% floor, OID 96 to 97, non-call one, 103, 101; Deutsche Bank, UBS and BofA Securities; refinance existing debt; Schenectady, N.Y., traditional food retailer.

OVERDRIVE: $600 million first-lien term B (B2/B) talked at SOFR plus 425 bps to 450 bps, 0% floor, OID 98.5, 101 soft call for six months; KKR, Goldman Sachs, Morgan Stanley, ING, Truist and Credit Agricole; refinance existing term loan; Cleveland-based provider of digital content catalog.

SUMMIT MATERIALS LLC: $500 million five-year incremental senior secured covenant-lite first-lien term B (Baa3/BBB-) talked at SOFR plus 275 bps to 300 bps, 0% floor, OID 99.5, 101 soft call for six months; Morgan Stanley, Goldmans Sachs, RBC, Barclays and Capital One; help fund acquisition of Argos USA from Cementos Argos; Denver-based supplier of aggregates, cement, ready-mix concrete and asphalt.

ZOOMINFO LLC: $595.5 million senior secured covenant-lite first-lien term B (Ba1/BB+) due Feb. 1, 2030 talked at SOFR plus 225 bps to 250 bps, 0% floor, issue price par, 101 soft call for six months; Morgan Stanley; repricing; Vancouver, Wash., provider of sales and marketing data.

On The Horizon

AMENTUM: $1.13 billion senior secured incremental first-lien term loan; JPMorgan, Morgan Stanley and RBC; fund merger with Jacobs’ Critical Mission Solutions and Cyber & Intelligence government services businesses; Chantilly, Va., engineering and technology solutions provider.

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.

ROSEN GROUP: New debt financing; Barclays; help fund buyout by Partners Group; provider of solutions in all areas of the integrity process chain.

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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