Bank Loan Calendar: $31.438 billion deals being marketed

December Lender Calls

CHOBANI LLC: Lender call Dec. 5; $550 million incremental term B due Oct. 23, 2027, 101 soft call for six months; BofA Securities, Goldman Sachs, JPMorgan and TD Securities; fund an acquisition but if the acquisition does not close, repay senior unsecured notes; food and beverage company known for Greek Yogurt.

INTRAFI NETWORK LLC (NEXUS BUYER LLC): Lender call Dec. 5; $500 million incremental senior secured first-lien term B; Morgan Stanley; fund a shareholder distribution and repay revolver balance; Arlington, Va., financial technology solutions provider offering deposit placement and funding services to financial institutions.

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.

ALLIANT HOLDINGS INTERMEDIATE LLC: Roughly $2.367 billion seven-year senior secured covenant-lite first-lien term B-6 (B) talked at SOFR plus 350 bps, 0.5% floor, OID 99.75, 101 soft call for six months; Morgan Stanley; help refinance/amend and extend existing term B-4 and existing term B-5; Newport Beach, Calif., specialty insurance brokerage firm.

ARCIS GOLF LLC: $495 million covenant-lite term B 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, issue price par, 101 soft call for six months; Deutsche Bank; repricing; Dallas-based owner and operator of golf private and daily fee clubs.

AUTHENTIC BRANDS GROUP (ABG INTERMEDIATE HOLDINGS 2 LLC): $1.696 billion term loan due Dec. 21, 2028 talked at SOFR+CSA plus 350 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0% floor, issue price par, 101 soft call for six months; BofA Securities; repricing to become fungible with existing term B-1; New York-based brand development, marketing and entertainment company.

AVOLON: Roughly $2.334 billion term B-6 due June 22, 2028 talked at SOFR plus 200 bps, 0.5% floor, OID 99.5 to 99.75 for existing term B-5 lenders, OID 99.75 to par for existing term B-6 lenders, 101 soft call for six months; Deutsche Bank, Barclays, BNP Paribas, Fifth Third, Mizuho, Morgan Stanley, MUFG and Truist; consolidate existing term B-5 and existing term B-6 into one tranche and reprice the debt; Dublin-based aircraft lessor.

BMC SOFTWARE: $3 billion equivalent of term loans; Goldman Sachs and KKR; $2 billion term B due December 2028 talked at SOFR plus 425 bps to 450 bps, 0% floor, OID 98.5, 101 soft call for six months; $1 billion equivalent euro term B due December 2028 talked at Euribor plus 450 bps to 475 bps, 0% floor, OID 98.5, 101 soft call for six months; amend and extend some existing U.S. and euro term loans; Houston-based provider of IT software solutions.

BROOKFIELD NGPL (BIP PIPECO HOLDINGS LLC): $465 million seven-year senior secured term loan (Ba3/B+) talked at SOFR plus 350 bps, 0% floor, OID 98.5 to 99, 101 soft call for six months; Barclays, RBC, CIBC and Santander; pay a distribution to Brookfield; natural gas pipeline system.

CQP HOLDCO LP: Roughly $2.017 billion senior secured first-lien term B (B1/BB) due Dec. 31, 2030 talked at SOFR plus 300 bps, 0.5% floor, OID 99.75, 101 soft call for six months; Morgan Stanley; help refinance/amend and extend existing term B; owner and operator of natural gas facilities.

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.

CVENT HOLDING CORP. (CAPSTONE BORROWER INC.): $150 million add-on senior secured first-lien covenant-lite term B (//BB) due June 15, 2030 talked at SOFR plus 375 bps, 0% floor, OID 98.5 to 99; Morgan Stanley, UBS, Citizens, Fifth Third, MUFG, RBC and Blackstone; fund two tuck-in acquisitions and general corporate purposes; Tysons, Va., provider of meetings, events and hospitality technology.

DAVIS-STANDARD LLC (DS PARENT INC.): $450 million seven-year covenant-lite term B (B2/B) talked at SOFR plus 525 bps to 550 bps, 0.75% floor, OID 97 to 98, 101 soft call for six months; Wells Fargo; fund acquisition of the Extrusion Technology Group from Nimbus and refinance existing debt; Pawcatuck, Conn., provider of extrusion equipment and services.

ELEMENT SOLUTIONS INC./MACDERMID INC.: $1 billion seven-year term B (Ba1/BBB-) talked at SOFR plus 200 bps, 0% floor, OID 99.5, 101 soft call for six months; BofA Securities; help refinance existing term B; Fort Lauderdale, Fla., specialty chemicals company.

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.

FLEXERA SOFTWARE LLC: $425 million incremental first-lien term loan due March 2028 talked at SOFR+CSA plus 375 bps to 400 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 98.5 to 99.04, 101 soft call for six months; Jefferies, Barclays, UBS, Goldman Sachs and Mizuho; help fund an acquisition; Itasca, Ill., provider of SaaS-based IT management solutions.

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.

INDICOR LLC: Roughly $1.224 billion first-lien term loan Nov. 22, 2029 talked at SOFR plus 400 bps, 0.5% floor, OID 99.75 to par, 101 soft call for six months; UBS (left on U.S.) and BNP Paribas (left on euro); also roughly €299 million first-lien term loan Nov. 22, 2029 talked at Euribor plus 450 bps, 0% floor, OID 99.75 to par, 101 soft call for six months; repricing; diversified industrial solutions company.

INNIO GROUP: €1.664 billion equivalent U.S. and euro covenant-lite term loans due November 2028 (B2/B+/B+); Citigroup, BNP Paribas, Deutsche Bank, Unicredit, Morgan Stanley, BofA Securities Inc., Credit Agricole, Erste and Helaba; minimum $500 million term loan talked at SOFR plus 425 bps to 450 bps, 0% floor, OID 98.5, 101 soft call for six months; minimum €900 million term loan talked at Euribor plus 425 bps to 450 bps, 0% floor, OID 98.5, 101 soft call for six months; help amend and extend existing U.S. and euro term loans, fund acquisition of Northeast-Western Energy Systems from Penn Power Group and pay a shareholder distribution; Jenbach, Austria, energy solution and service provider.

IRON MOUNTAIN INFORMATION MANAGEMENT LLC: $1 billion seven-year senior secured term B (BB) talked at SOFR plus 250 bps, 0% floor, OID 99, 101 soft call for six months; Barclays, JPMorgan Chase Bank and others; general corporate purposes, including the repayment of revolver borrowings; Portsmouth, N.H., information management company.

LIFE TIME INC.: Expected closing Dec. 6; $310 million covenant-lite term B due January 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, 0.5% 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.

NUVEI CORP.: $1.075 billion covenant-lite term B (Ba3) due December 2030 talked at SOFR plus 300 bps to 325 bps, 0.5% floor, OID 98.5 to 99, 101 soft call for six months; BMO, RBC and others; refinance existing reducing revolver and term B; Montreal-based payment technology company.

ONEDIGITAL: $325 million incremental term loan (B3/B) due November 2027 talked at SOFR+CSA plus 425 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.5% floor, OID 98.5 to 99, 101 soft call for six months; JPMorgan, Barclays, Goldman Sachs, Golub, BofA Securities, Wells Fargo and Scotia; fund acquisitions, and working capital and general corporate purposes; Atlanta-based provider of employee benefits insurance brokerage and retirement consulting services.

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.

PG&E CORP.: $750 million term B due June 2027 at SOFR plus 250 bps, 0.5% floor, OID 99.5, 101 soft call for six months; JPMorgan; extend existing term B; Oakland, Calif., energy company.

SABERT CORP.: $458 million covenant-lite term B (B+) due Dec. 10, 2026 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, 1% floor, issue price par, 101 soft call for six months; Wells Fargo; repricing; Sayreville, N.J., food packaging company.

SURGERY PARTNERS INC. (SURGERY CENTER HOLDINGS INC.): Roughly $2.104 billion credit facilities (Ba3/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 at SOFR plus 350 bps, 0% floor, OID 99, 101 soft call for six months; refinance existing credit facilities; Nashville, Tenn., operator of short-stay surgical facilities.

VERTIV GROUP CORP.: $2.123 billion senior secured covenant-lite term B (Ba3/BB) due March 2027 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; Citigroup; repricing; Westerville, Ohio, provider of critical digital infrastructure and continuity solutions.

VISTRA OPERATIONS CO. LLC: $2.5 billion seven-year senior secured term loan talked at SOFR plus 225 bps, 0% floor, OID 99 to 99.5, 101 soft call for six months; Barclays, BMO, BNP Paribas, Citigroup, Credit Agricole, Goldman Sachs, JPMorgan, Mizuho, Morgan Stanley, MUFG, RBC, SMBC, Truist, BofA Securities, Natixis, Scotia, KeyBanc and Societe Generale; extend existing term B; Irving, Tex., integrated generation, wholesale and retail power company.

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.

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.

ROCKET SOFTWARE INC.: Incremental senior secured term loans; RBC, Barclays, Deutsche Bank, UBS, Citigroup, HSBC, Mizuho and SMBC; help fund acquisition of OpenText’s Application Modernization and Connectivity business; Waltham, Mass., provider of enterprise infrastructure software.

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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