Bank Loan Calendar: $24.28 billion deals being marketed

Upcoming Closings

AMYNTA: $1.037 billion term loan due February 2028 talked at SOFR plus 450 bps, 0% floor, issue price par, 101 soft call for six months; BofA Securities; repricing; New York-based insurance services company.

ANCESTRY.COM (ARCHES BUYER INC.): $375 million incremental term B (B1/B) due December 2027 talked at SOFR plus 400 bps, OID 98 to 98.5, 101 soft call for six months; BofA Securities; help fund a shareholder distribution; Lehi, Utah, provider of digital family history services and consumer genomics.

ARCLIGHT NGPL HOLDINGS LLC (AL NGPL HOLDINGS LLC): $268 million term B due April 15, 2028 at SOFR plus 350 bps, 1% floor, issue price par, 101 soft call until March 2024; Barclays; reprice existing roughly $233 million term B and fund a distribution to ArcLight; FERC-regulated natural gas pipeline system.

ASPEN DENTAL: $780 million term loan (B3/B-) due December 2027 talked at SOFR plus 575 bps to 600 bps, 0% floor, OID 95; JPMorgan; amend and extend existing term B-1; operator of a group of branded dental offices.

ASPIRE BAKERIES HOLDINGS LLC: $425 million seven-year first-lien term loan (B2/B) talked at SOFR plus 450 bps, 25 bps step-down upon an IPO, 0% floor, OID 98.5, 101 soft call for six months; JPMorgan; refinance existing first- and second-lien term loans; provider of baked goods.

AVOLON: Expected closing Dec. 27; roughly $2.334 billion term B-6 due June 22, 2028 at SOFR plus 200 bps, 0.5% floor, OID 99.75 for existing term B-5 lenders and new money, issue price 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.

BELRON: $2.448 billion of term loans; JPMorgan and BofA Securities; roughly $1.58 billion term B due 2028 talked at SOFR+CSA plus 200 bps, CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, 25 bps step-up if senior secured net leverage is 3.5x, 0.5% floor, issue price par, 101 soft call for six months; roughly $868 million term B due 2029 talked at SOFR+10 bps CSA plus 225 bps, 25 bps step-up if senior secured net leverage is 3.5x, 0.5% floor, issue price par, 101 soft call for six months; repricing; U.K.-based provider of vehicle glass repair and replacement services.

CASTLELAKE AVIATION: $1.156 billion senior secured first-lien term B (Ba3/BB) due Oct. 22, 2026 talked at SOFR plus 250 bps, 0% floor, OID 99.75 to par, 101 soft call for six months; Morgan Stanley; repricing; Dublin, Ireland-based provider of aircraft financing, leasing and servicing solutions.

CATALENT PHARMA SOLUTIONS INC.: $600 million incremental term B-4 (Ba2/BB-) due 2028 at SOFR plus 300 bps, 0.5% floor, OID 99.25, 101 soft call for six months; JPMorgan; repay revolver borrowings; Somerset, N.J., provider of development sciences and manufacturing platforms for medicines.

CLEAN HARBORS INC.: $983 million term B (BBB-) due October 2028 talked at SOFR+CSA plus 175 bps, CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, 0% floor, OID 99.75 to par, 101 soft call for six months; Goldman Sachs; repricing; Norwell, Mass., provider of environmental and industrial services.

CQP HOLDCO LP: Closing expected Dec. 15; roughly $2.217 billion senior secured first-lien term B (B1/BB) due Dec. 31, 2030 at SOFR plus 300 bps, 0.5% floor, OID 99.75, 101 soft call for six months; Morgan Stanley, Blackstone, Brookfield, BMO, MUFG, RBC, SMBC and Wells Fargo; 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.

DAVIS-STANDARD LLC (DS PARENT INC.): $450 million seven-year covenant-lite term B (B2/B) talked at SOFR plus 550 bps, 0.75% floor, OID 95 to 96, 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.

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.

FOREFRONT DERMATOLOGY (DERMATOLOGY INTERMEDIATE HOLDINGS III INC.): $110 million incremental first-lien term loan (B2/B) due April 1, 2029 at SOFR plus 550 bps, 0.5% floor, OID 97.5, 101 soft call for six months; UBS; repay revolver drawings and fund acquisitions; Manitowoc, Wis., dermatology physician practice.

INTRAFI NETWORK LLC (NEXUS BUYER LLC): Expected closing Dec. 18 week; $500 million five-year incremental senior secured covenant-lite first-lien term B (B2/B-) at SOFR plus 450 bps, 0% floor, OID 97, 101 soft call for six months; Morgan Stanley, Nomura, RBC and UBS; fund a shareholder distribution and repay revolver balance; Arlington, Va., financial technology solutions provider offering deposit placement and funding services to financial institutions.

MEDALLION MIDLAND ACQUISITION LP: Roughly $822 million first-lien term loan due Oct. 18, 2028 talked at SOFR plus 350 bps, 0% floor, issue price par for existing lenders, OID 99.75 for new money, 101 soft call for six months; Jefferies; repricing; crude oil gathering/intra-basin transport system.

NEP: $1.943 billion equivalent of term loans; Barclays, JPMorgan, HSBC, Macquarie, MUFG, Mizuho and PNC; $1.092 billion term B due Aug. 19, 2026 talked at SOFR plus 325 bps plus 150 bps accrued PIK interest, 0% floor, 150 bps upfront fee (PIK), 200 bps exit fee (cash); $123 million incremental term B due June 1, 2026 talked at SOFR plus 825 bps plus 150 bps accrued PIK interest, 1% floor, 200 bps upfront fee (PIK), 200 bps exit fee (cash); $209 million incremental term B due Aug. 19, 2026 talked at SOFR plus 400 bps plus 150 bps accrued PIK interest, 0.5% floor, 150 bps upfront fee (PIK), 200 bps exit fee (cash); $519 million equivalent euro term B due Aug. 19, 2026 talked at Euribor plus 350 bps plus 150 bps accrued PIK interest, 0% floor, 150 bps upfront fee (PIK), 200 bps exit fee (cash); extend existing term loans; Pittsburgh-based provider of outsourced live and broadcast production solutions.

NUVEI CORP.: $1.275 billion covenant-lite term B (Ba3/BB-) due December 2030 at SOFR plus 300 bps, 0.5% floor, OID 99.25, 101 soft call for six months; BMO, RBC, BofA Securities, Capital One, Citizens, Fifth Third, JPMorgan, KeyBanc, National Bank of Canada, Scotia, UBS and Wells Fargo; refinance existing reducing revolver and term B; Montreal-based payment technology company.

PLAYA HOTELS & RESORTS: $1.092 billion covenant-lite term B due January 2029 talked at SOFR plus 325 bps to 350 bps, 0.5% floor, issue price par, 101 soft call for six months; Deutsche Bank; repricing; owner, operator and developer of all-inclusive resorts.

SUMMIT BEHAVIORAL HEALTHCARE LLC: $200 million incremental first-lien term loan due Nov. 24, 2028 at SOFR+CSA plus 475 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 99.25; Jefferies, BofA Securities, SMBC, Wells Fargo, UBS and Fifth Third; refinance existing second-lien term loan; Franklin, Tenn., based behavioral health services provider.

TOUCHTUNES (TA TT BUYER LLC): $155 million incremental covenant-lite first-lien term loan (B3) due April 1, 2029 at SOFR plus 525 bps, 0.5% floor, OID 99, 101 soft call for six months; Citizens; pay down some second-lien term loan borrowings and fund a shareholder distribution; New York-based music distributor through a network of jukeboxes.

TRAVEL + LEISURE CO.: Expected closing Dec. 20; $598 million covenant-lite term B (including $300 million add-on) (Ba3/BB-) due Dec. 14, 2029 at SOFR+10 bps CSA plus 325 bps, 0.5% floor, OID 99.75 on add-on, issue price par on repricing, 101 soft call for six months; Deutsche Bank, BofA Securities, JPMorgan, Barclays, Wells Fargo, MUFG, Truist, Scotia, PJT, HSBC, US Bank and Comerica; repay notes and repricing; Orlando, Fla., membership and leisure travel company.

USI INC.: $2.475 billion term B due November 2029 at SOFR plus 300 bps, 0% floor, issue price par, 101 soft call for six months; BofA Securities and KKR; repricing; Valhalla, N.Y., insurance brokerage and consulting firm.

WIRECO WORLDGROUP INC.: $472 million term B due November 2028 talked at SOFR plus 375 bps, 25 bps step-down upon an IPO, 0% floor, OID 99.75 to par, 101 soft call for six months; JPMorgan; repricing; Prairie Village, Kan., manufacturer and distributor of wires and synthetic ropes.

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.

SHEARER’S FOODS: New debt financing; Deutsche Bank, UBS, BMO, BNP Paribas, RBC and TD Securities; help fund buyout by Clayton Dubilier & Rice from Ontario Teachers’ Pension Plan Board; Massillon, Ohio, contract manufacturer and private label supplier serving the snack industry.

SIRIUSXM HOLDINGS INC.: New debt financing; Morgan Stanley, BofA Securities and JPMorgan; refinance some debt in connection with merger with Liberty Media Corp.’s Liberty SiriusXM tracking stock group; New York-based audio entertainment 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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.