Bank Loan Calendar: $58.3219 billion deals being marketed

January Lender Call

ARGUS MEDIA: Lender call Jan. 24; $1.2 billion seven-year term B (B2) talked at SOFR plus 375 bps, 0% floor, OID 99 to 99.5, 101 soft call for six months; JPMorgan, Citigroup, ING and SMBG; refinance existing term B and return capital to certain shareholders; London-based provider of intelligence to the global energy and commodity markets.

GOODRX: Lender call Jan. 23; $662 million term B; Goldman Sachs; refinance existing first-lien term loan; Santa Monica, Calif., consumer-focused digital healthcare platform.

HELP AT HOME LLC (HAH GROUP HOLDING CO. LLC): Lender call Jan. 23; $100 million 2022-1/2023-1 incremental first-lien term loan due Oct. 29, 2027 talked at SOFR+CSA plus 500 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 1% floor, OID 99.25 to 99.5; Jefferies; pay down revolver borrowings and general corporate purposes; Chicago-based provider of home care services to complex chronic individuals.

HUSKY INJECTION MOLDING SYSTEMS LTD.: Lender call Jan. 23; $1.3 billion five-year covenant-lite term B, 101 soft call for six months; Deutsche Bank, BofA Securities and others; help refinance existing capital structure; Bolton, Ont., provider of engineered tooling, services and systems primarily to the food and beverage packaging and medical end markets.

IQ-EQ (SAPHILUX SARL): Lender call Jan. 23; $520 million term B due July 2028 talked at SOFR plus 425 bps, 0.5% floor, issue price par, 101 soft call for six months; Nomura, Deutsche Bank, HSBC, NatWest, Goldman Sachs, JPMorgan Chase Bank and Morgan Stanley; also €500 million term B due July 2028 talked at Euribor plus 425 bps to 450 bps, 0% floor, issue price par, 101 soft call for six months; repricing; investor services and independent fund specialist.

UKG INC.: Lender call Jan. 23; $5.83 billion credit facilities (B-); Nomura, JPMorgan and others; $945 million five-year revolver; $4.885 billion seven-year covenant-lite first-lien term B; help refinance existing first-lien term loans, pay down a revolver draw and fund cash to the balance sheet; provider of human capital management solutions based in Weston, Fla., and Lowell, Mass.

WOOD MACKENZIE (PLANET US BUYER LLC): Lender call Jan. 23; $1.315 billion seven-year term B, 101 soft call for six months; BofA Securities, Nomura, BMO and others; refinance unitranche term loan; Edinburgh, UK-based provider of data, analytics, research and consulting services for the energy, renewables and natural resources sectors.

Upcoming Closings

ADIENT: $635 million seven-year term B-2 talked at SOFR plus 275 bps, 0% floor, OID 99.5, 101 soft call for six months; BofA Securities; refinance existing term B-1; Plymouth, Mich., manufacturer of automotive seating.

ADTALEM GLOBAL EDUCATION INC.: Expected closing Jan. 26; $253 million senior secured covenant-lite first-lien term B (Ba3/BB) due Aug. 12, 2028 at SOFR plus 350 bps, 25 bps step-ups at 1.73x net first-lien leverage and at 2.23x net first-lien leverage, 0.75% floor, issue price par, 101 soft call for six months; Morgan Stanley; repricing; Chicago-based provider of post-secondary education.

AHEAD DB: $600 million seven-year incremental first-lien term loan (B1/B) talked at SOFR plus 425 bps, 0.75% floor, OID 98.5; RBC, Deutsche Bank, BMO, Jefferies, KKR, Regions, Truist, Macquarie, MUFG and Barclays; help support acquisition of Computer Design & Integration; Chicago-based IT solutions provider of enterprise hardware and software.

AMERICAN BUILDERS & CONTRACTORS SUPPLY CO. INC. (ABC SUPPLY CO. INC.): $1.415 billion seven-year term B (Ba2) talked at SOFR plus 200 bps, 0% floor, OID 99.5 to 99.75, 101 soft call for six months; BofA Securities and Morgan Stanley; refinance existing term loans; distributor of building products.

ANKURA CONSULTING GROUP LLC: $577.1 million covenant-lite first-lien term loan due March 2028 talked at SOFR plus 400 bps, 0.75% floor, issue price par, 101 soft call for six months; Deutsche Bank; repricing; specialty consulting platform.

BMC SOFTWARE: $375 million add-on first-lien term loan talked at SOFR plus 425 bps, 0% floor, issue price par; KKR; help refinance existing second-lien term loan; Houston-based provider of IT software solutions.

BUCKEYE PARTNERS LP: $1.416 billion term B-1 due November 2026 talked at SOFR plus 200 bps, 0% floor, issue price par for existing/rollover orders, OID 99.75 for new money, 101 soft call for six months; MUFG; repricing; Houston-based owner and operator of integrated midstream assets.

CAESARS ENTERTAINMENT INC.: $2 billion seven-year term B (Ba3/B+) talked at SOFR plus 300 bps, 0.5% floor, OID 99.25 to 99.75, 101 soft call for six months; JPMorgan; help fund a notes tender offer; Reno, Nev., gaming and entertainment company.

CHARTER NEXT GENERATION INC.: $2.317 billion term B talked at SOFR plus 325 bps to 350 bps, 0.75% floor, issue price par, 101 soft call for six months; KKR; repricing; Milton, Wis., producer of specialty films used in flexible packaging and other end-use markets.

CLARIVATE PLC: $2.15 billion seven-year senior secured covenant-lite term B (B1) talked at SOFR plus 275 bps to 300 bps, 25 bps step-down at corporate ratings of B1/B+ with stable outlooks, 0% floor, OID 99.5, 101 soft call for six months; Citigroup and Goldman Sachs; combine and extend existing term Bs due 2026; London-based data and analytics company focused on scientific and academic research and patent intelligence.

CROCS INC.: Expected closing Feb. 13; $820 million senior secured covenant-lite term B (Ba2) due Feb. 17, 2029 at SOFR plus 225 bps, 0.5% floor, issue price par, 101 soft call for six months; Citigroup, HSBC, Morgan Stanley and PNC; repricing; Broomfield, Colo., casual footwear company.

DRW HOLDINGS LLC: $250 million add-on term B due March 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% floor, OID 99.03; BofA Securities, Jefferies and JPMorgan; general corporate purposes; technology-driven electronic trading firm.

DUN & BRADSTREET CORP.: $2.202 billion term B (including $1.75 billion incremental) due January 2029 talked at SOFR plus 275 bps, 25 bps step-down at Ba3/BB+ corporate ratings, 0% floor, OID 99.875 on incremental, issue price par on repricing; BofA Securities; refinance existing 2026 term loan and reprice existing 2029 term loan; Short Hills, N.J., provider of business decisioning data and analytics.

FITNESS INTERNATIONAL LLC: $1.275 billion credit facilities (B1/B+); BofA Securities, Wells Fargo, BMO, MUFG and JPMorgan; $675 million five-year term B talked at SOFR plus 475 bps, 0% floor, OID 97 to 98, 101 soft call for six months; $300 million revolver; $300 million term A; help refinance existing credit facilities; Irvine, Calif., owner-operator of fitness clubs.

FOUNDATION BUILDING MATERIALS: $1 billion seven-year term B-2 (B2/B) talked at SOFR plus 400 bps, 0% floor, OID 98.5, 101 soft call for six months; RBC, Goldman Sachs, Deutsche Bank, BofA Securities, US Bank, Truist, TD Securities, KeyBanc and UBS; partially pay down a HoldCo seller note and fund a shareholder dividend; Santa Ana, Calif., specialty distributor of wallboard, metal framing and suspended ceiling systems.

GARDA WORLD SECURITY CORP.: $1.438 billion add-on term loan due 2029 talked at SOFR plus 425 bps, 0% floor, OID 99.5 to 99.75, 101 soft call for six months; JPMorgan; refinance existing term B due 2026; Montreal-based provider of cash logistics and security solutions.

GMS INC. (GYP HOLDINGS III CORP.): $500 million covenant-lite term B due May 12, 2030 talked at SOFR plus 225 bps, 0% floor, OID 99.75 to par, 101 soft call for six months; Wells Fargo; repricing; Tucker, Ga., distributor of interior construction products.

GREYSTAR REAL ESTATE PARTNERS: $494 million term loan (including $45 million add-on) due August 2030 talked at SOFR plus 325 bps, 0.5% floor, issue par on repricing, OID 99.75 on add-on, 101 soft call for six months; JPMorgan; repricing and general corporate purposes; Charleston, S.C., real estate company.

HERSCHEND FAMILY ENTERTAINMENT: $464 million term B due August 2028 talked at SOFR plus 300 bps to 325 bps 0.5% floor, issue price par, 101 soft call for six months; Goldman Sachs; repricing; Peachtree Corners, Ga., themed-entertainment company that operates theme parks, tourist attractions and resorts.

IMAGINE LEARNING (WELD NORTH EDUCATION): $922 million term B (B2/B) due December 2029 talked at SOFR plus 350 bps, 0.5% floor, OID 99.5, 101 soft call for six months; RBC; refinance existing term B; education technology company focused on digital curriculum for grades K-12.

INEOS GROUP HOLDINGS: Minimum $500 million seven-year term B (BB/BB+) talked at SOFR plus 375 bps to 400 bps, 0% floor, OID 99, 101 soft call for six months; Barclays, Deutsche Bank, Santander, Credit Agricole, Goldman Sachs, JPMorgan, ABN Amro, Commerzbank, ING, Intesa, KBC, Lloyds and Natwest; also minimum €300 million seven-year term B (BB/BB+) talked at Euribor plus 400 bps to 425 bps, 0% floor, OID 99, 101 soft call for six months; refinance some 2025 and 2026 maturities, acquisition financing and add cash to the balance sheet to prefund Project One; chemical company.

INTRAFI NETWORK LLC (NEXIS BUYER LLC): $200 million incremental covenant-lite first-lien term B due Dec. 13, 2028 talked at SOFR plus 450 bps, 0% floor, OID 98, 101 soft call protection through June 2024; Morgan Stanley; fund a shareholder distribution; Arlington, Va., financial technology solutions provider offering deposit placement and funding services to financial institutions.

ION CORPORATES: $700 million term B (including $77 million add-on) due July 2030 at SOFR plus 375 bps, 0% floor, issue price par on repricing, OID 99.75 on add-on, 101 soft call for six months; BNP Paribas; repricing, fund a distribution and put cash on the balance sheet; provider of software and solutions focused on corporate treasury and commodities management.

KOHLER ENERGY (DISCOVERY ENERGY HOLDING CORP.): $1.625 billion equivalent U.S. and euro seven-year term B (B1/B) talked at SOFR/Euribor plus 375 bps to 400 bps, 0% floor, OID 98, 101 soft call for six months; BofA Securities, Goldman Sachs, BMO, Deutsche Bank, HSBC, Mizuho, Nomura, Santander, Stifel and UBS; help fund the acquisition of a majority stake in Kohler Co.’s energy division by Platinum Equity; provider of mission critical power solutions to homes, businesses, and equipment.

LUMMUS TECHNOLOGY HOLDINGS V LLC: Roughly $1 billion first-lien term loan (B+) due December 2029 talked at SOFR+CSA plus 350 bps, CSA is 11 bps one-month rate, 26 bps three-month rate and 42 bps six-month rate, 0% floor, OID 99.5, 101 soft call for six months; UBS; extension of existing term loan; also extending existing revolver and letter of credit facility to December 2027; provider of process licenses, engineering services, catalysts and equipment for polymers & petrochemicals, services & supplies, clean fuels and crude-to-chemical, and new ventures.

MAGNITE INC.: $365 million senior secured covenant-lite first-lien term B (Ba3/BB-) due January 2031 talked at SOFR plus 450 bps, 0% floor, OID 99, 101 soft call for six months; Morgan Stanley, Citigroup, Barclays, Capital One, Goldman Sachs, MUFG, SVB and Truist; also new five-year revolver; refinance existing credit facilities; New York-based sellside advertising company.

MARINER WEALTH ADVISORS: $100 million incremental covenant-lite first-lien term loan (Ba3/B-) due August 2028 at SOFR+CSA plus 325 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; BMO, RBC and UBS; repricing; Overland Park, Kan., investment adviser.

MAVIS TIRE EXPRESS SERVICES TOPCO CORP.: Roughly $2.301 billion first-lien term loan due May 4, 2028 talked at SOFR plus 350 bps, 0.75% floor, issue price par, 101 soft call for six months; Jefferies; repricing; Millwood, N.Y., tire and service retailer.

MERLIN ENTERTAINMENTS PLC: $1.273 billion term loan due November 2029 talked at SOFR plus 375 bps, 0% floor, OID 99 to 99.5, 101 soft call for six months; BofA Securities, Deutsche Bank, Bank of China, Barclays, HSBC, Intesa, Mizuho, Morgan Stanley, Santander, SMBC and UniCredit; also €200 million add-on term loan due November 2029 talked at Euribor plus 400 bps, 0% floor, OID 99; help refinance existing 2026 term loans; Poole, England, operator of hotels and holiday attractions.

MITRATECH: $50 million incremental first-lien term loan-1 (B2/B-) talked at SOFR+CSA plus 375 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.75% floor, OID 99.03; Golub; repay revolver borrowings and add cash to the balance sheet; Austin, Tex., technology partner for corporate legal, risk, compliance and HR professionals.

NGL ENERGY OPERATING LLC: $700 million seven-year term B (B2/B+/BB-) talked at SOFR plus 450 bps, 0% floor, OID 98, 101 soft call for six months; TD Securities and Barclays; refinance existing debt and general corporate purposes; Tulsa, Okla., midstream energy company.

NOVOLEX (CLYDESDALE ACQUISITION HOLDINGS INC.): Roughly $2.955 billion first-lien term loan (B2/B) due April 2029 talked at SOFR+10 bps CSA plus 375 bps, 7.5 bps sustainability adjustment, 0.5% floor, OID 99.75 to par, 101 soft call for six months; UBS; repricing; Hartsville, S.C., manufacturer of packaging products for a range of substrates and end-markets.

PCI PHARMA SERVICES (PACKAGING COORDINATORS MIDCO INC.): $440 million incremental first-lien term loan due Nov. 30, 2027 at SOFR+CSA plus 350 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 99.5; Jefferies; refinance second-lien term loan and general corporate purposes; Philadelphia-based provider of outsourced pharmaceutical services.

PLUSGRADE: $420 million term loan B (B2/B) due 2031 talked at SOFR plus 450 bps, 0% floor, OID 98.5 to 99, 101 soft call for six months; JPMorgan, Barclays, BMO, Wells Fargo and Scotia; help support investment by General Atlantic; Montreal-based provider of ancillary revenue solution for the travel industry.

REFRESCO GROUP BV: $1.594 billion term B due 2029 talked at SOFR plus 375 bps, 0.5% floor, issue price par, 101 soft call for six months; JPMorgan, KKR, Goldman Sachs, Rabobank, ABN Amro, Commerzbank and ING; also €1.53 billion term B due 2029 talked at Euribor plus 400 bps, 0% floor, issue price par, 101 soft call for six months; repricing; Rotterdam, the Netherlands, beverage producer.

SABRE INDUSTRIES (TIGER ACQUISITION LLC): $50 million incremental first-lien term loan due June 1, 2028 talked at SOFR+10 bps CSA plus 325 bps, 0.5% floor, OID 99.1; Jefferies and Wells Fargo; refinance a portion of second-lien term loan; Alvarado, Tex., provider of highly-engineered structures and services for customers in the U.S. utility and telecom markets.

SAVERS INC.: $322 million first-lien term B talked at SOFR plus 400 bps, 0.75% floor, issue price par, 101 soft call for six months; KKR; repricing; Bellevue, Wash., thrift store chain.

SBA COMMUNICATIONS CORP.: $2.3 billion seven-year term B (BBB-) at SOFR plus 200 bps, 0% floor, OID 99.75, 101 soft call for six months; TD Securities, Mizuho, Barclays, Citigroup, Goldman Sachs, JPMorgan and Wells Fargo; help refinance existing term B; Boca Raton, Fla., owner and operator of wireless communications infrastructure.

SCIENCE APPLICATIONS INTERNATIONAL CORP.: Up to roughly $510.3 million seven-year senior secured covenant-lite term B (Ba1/BB+) talked at SOFR plus 187.5 bps, 0% floor, OID 99.25 to 99.5, 101 soft call for six months; Citigroup; refinance existing term B and term B-2; Reston, Va., technology integrator.

SHEARER’S FOODS: $1.22 billion seven-year covenant-lite term B (B3/B) talked at SOFR plus 425 bps to 450 bps, 0% floor, OID 98, 101 soft call for six months; Deutsche Bank, UBS, Blue Owl, BMO, BNP Paribas, RBC, TD Securities, Goldman Sachs, Rabobank, Citizens, Macquarie, Mizuho, Natixis and Stifel; 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.

SUBCOM: $1.35 billion seven-year term B (B1/B+) talked at SOFR plus 475 bps to 500 bps, 0.75% floor, OID 99, 101 soft call for six months; Goldman Sachs; refinance existing term loans and fund a distribution to shareholders; Eatontown, N.J., subsea fiber optic cable turnkey service provider.

TACALA COS.: $725 million first-lien term loan (B-) talked at SOFR plus 425 bps, 0.75% floor, OID 99 to 99.5, 101 soft call for six months; KKR; refinance first- and second-lien loans; Vestavia Hills, Ala., franchise operator of Taco Bell restaurants.

TEAM SERVICES GROUP LLC: $150 million incremental first-lien term B due December 2027 talked at SOFR+CSA plus 500 bps, CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, 1% floor, OID 99 area; UBS; help fund acquisitions; San Diego-based provider of personal home care solutions.

TMF GROUP (TMF SAPPHIRE BIDCO BV): $400 million term B due May 2028 at SOFR plus 400 bps, 0% floor, issue price par, 101 soft call for six months; Goldman Sachs, HSBC, Barclays, Deutsche Bank, Jefferies and Nomura; also €955 million term B due May 2028 talked at Euribor plus 375 bps to 400 bps, 25 bps step-downs at 4x and 3.5x leverage, 0% floor, issue price par, 101 soft call for six months; repricing; Amsterdam-based provider of legal financial and employee administration services.

TRANSUNION LLC: $1.888 billion term B-6 due December 2028 talked at SOFR plus 200 bps, 0.5% floor, issue price par, 101 soft call for six months; JPMorgan; repricing; Chicago-based information and insights company.

TRAVERSE MIDSTREAM PARTNERS LLC: $1.245 billion term B due February 2028 talked at SOFR plus 350 bps, 0.5% floor, OID 99.75 to par, 101 soft call for six months; JPMorgan; repricing; equity owner of Rover Pipeline and Ohio River System midstream assets.

TRICOR/VISTRA: $598.5 million senior secured covenant-lite term B due June 17, 2029 talked at SOFR plus 400 bps to 425 bps, 0.5% floor, issue price par, 101 soft call for six months; Goldman Sachs, Barclays, Deutsche Bank, HSBC, BNP Paribas, Citigroup, Credit Agricole, DBS, Morgan Stanley, MUFG, Nomura, SMBC and Standard Chartered; also €816 million senior secured covenant-lite term B due June 17, 2029 talked at Euribor plus 400 bps to 425 bps, 25 bps step-down at 4.5x leverage, 0% floor, issue price par, 101 soft call for six months; repricing; Hong Kong-based fund and corporate services company.

UNIVAR SOLUTIONS INC.: $450 million equivalent U.S. and euro term loans (B2//BB-); JPMorgan; $325 million add-on term loan due August 2030 talked at SOFR plus 450 bps, 0% floor, OID 99 to 99.5; $125 million equivalent euro add-on term loan due August 2030 talked at Euribor plus 450 bps, 0% floor, OID 99 to 99.5; fund a dividend; Downers Grover, Ill., specialty chemical and ingredient distributor.

VISTAGE WORLDWIDE: $125 million add-on first-lien term loan (B2) due July 2029 talked at SOFR+CSA plus 525 bps, CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 0.75% floor, OID 99.25 to 99.5, 101 soft call for six months; Golub and Macquarie; refinance second-lien term loan borrowings; San Diego-based member-based advisory company for executives of small- and medium-sized businesses.

WAUPACA FOUNDRY INC.: $330 million six-year covenant-lite term B (B2/B) talked at SOFR plus 625 bps to 650 bps, 1% floor, OID 98, soft call 102, 101; BMO, PNC, KeyBanc and Silver Point; help fund buyout by Monomoy Capital Partners from Proterial Ltd.; Waupaca, Wis., supplier of cast and machined iron castings.

WELLSKY (PROJECT RUBY ULTIMATE PARENT CORP.): $405 million incremental first-lien term B (B) due March 10, 2028 talked at SOFR plus 350 bps to 375 bps, 0% floor, OID 99.5, 101 soft call for six months; BofA Securities, Goldman Sachs, Deutsche Bank, BMO, RBC, TPG and Nomura; refinance existing term loan due 2028; Overland Park, Kan., provider of enterprise software to healthcare providers and human services organizations.

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.

KAMAN CORP.: New debt financing; Morgan Stanley; help fund buyout by Arcline Investment Management LP; Bloomfield, Conn., OEM and producer of subassemblies, components and parts for the aerospace & defense, industrial and medical markets.

MITER BRANDS: $2.125 billion senior secured credit facilities; KeyBanc and RBC; $325 million asset-based revolver; up to $1.8 billion term loan; help fund acquisition of PGT Innovations Inc.; manufacturer of precision-built windows and doors.

RESTAURANT BRANDS INTERNATIONAL INC.: Roughly $750 million of term loan debt; help fund acquisition of Carrols Restaurant Group Inc.; Toronto-based quick service restaurant 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.

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.