Bank Loan Calendar: $27.9131 billion deals being marketed

February Lender Calls

PLAYCORE: Lender call Feb. 5; $1.05 billion term B; Goldman Sachs; refinance existing first-lien term loan and fund a distribution to shareholders; Chattanooga, Tenn., designer, manufacturer and marketer of commercial playground, park, recreation and specialty equipment and related complementary products.

Upcoming Closings

AMER SPORTS INC.: $600 million seven-year term B (B1/BB) talked at SOFR plus 325 bps to 350 bps, 0% floor, OID 99, 101 soft call for six months; JPMorgan and Goldman Sachs; €600 million seven-year term B (B1/BB) talked at Euribor plus 350 bps to 375 bps, 0% floor, OID 99.5, 101 soft call for six months; help refinance existing debt and general corporate purposes; sports and outdoor apparel, footwear, equipment, protective gear and accessories company.

APPLIED SYSTEMS INC.: $3.135 billion credit facilities; Nomura, Jefferies, JPMorgan, Macquarie, Morgan Stanley and Santander; $150 million five-year revolver; $2.365 billion seven-year first-lien term loan (B2/B-) talked at SOFR plus 350 bps, 0% floor, OID 99.5, 101 soft call for six months; $620 million eight-year second-lien term loan (Caa2/CCC) talked at SOFR plus 550 bps to 575 bps, 0% floor, OID 99.5, call protection 102, 101; refinance existing capital structure and repurchase minority equity share; University Park, Ill., cloud software provider to the property & casualty and benefits insurance industry.

ARTERA SERVICES LLC: $740 million seven-year first-lien term loan (B3/B-) talked at SOFR plus 500 bps, OID 98 to 99, 101 soft call for six months; UBS, BofA Securities, BMO, BNP Paribas, Citizens, Deutsche Bank, Jefferies, Mizuho, MUFG and PNC; help refinance existing debt; Atlanta-based provider of integrated infrastructure services serving utilities and midstream operators in the natural gas market.

ASCENSUS GROUP HOLDINGS: $300 million add-on term loan due August 2028 talked 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, 0.5% floor, OID 99.5; JPMorgan and Stone Point; repay a portion of existing second-lien term loan; Dresher, Pa., provider of technology-enabled administration services to the tax-advantaged savings market.

BGIS: $885 million senior secured covenant-lite first-lien term loan (B3/B) due May 31, 2028 talked at SOFR plus 450 bps, 0.5% floor, OID 98, 101 soft call for six months; Citigroup; refinance existing first-lien term loan; integrated facilities management company.

CONSOLIDATED ENERGY FINANCE SA: $745 million 6.75-year senior secured first-lien term B (Ba3/BB-/BB+) talked at SOFR plus 425 bps to 450 bps, 0% floor, OID 98, 101 soft call for six months; Morgan Stanley, Santander, ADCB and SMBC; help refinance bridge facilities and term loan B, reduce debt at Proman AG and general corporate purposes; acquirer and developer of companies that focus on alternative waste management and energy production.

CONSUMER CELLULAR (CCI BUYER INC.): $500 million incremental term loan B (B1) due Dec. 17, 2027 talked at SOFR plus 400 bps, 0.75% floor, OID 99.27, 101 soft call for six months; BofA Securities, Barclays, UBS and Jefferies; fund a distribution and redeem outstanding preferred stock; Scottsdale, Ariz., provider of postpaid virtual wireless services with a major focus on the senior demographic.

COPELAND: Roughly $1.519 billion term B due May 2030 at SOFR plus 250 bps, 0% floor, OID 99.875, 101 soft call for six months; RBC; repricing; manufacturer of mission critical, highly engineered heating, ventilation, air conditioning and refrigeration components.

CORE & MAIN INC.: $750 million incremental term B (Ba3/BB-) at SOFR plus 225 bps, 0% floor, OID 99.5, 101 soft call for six months; JPMorgan; general corporate purposes, including the repayment of asset-based lending borrowings; St. Louis-based distributor of water, wastewater, storm drainage and fire protection products, and related services.

COVANTA: $579 million of term loans (including $399 million term B, $30 million term C and $150 million incremental) due Nov. 30, 2028 at SOFR plus 275 bps, 0.5% floor, OID 99.75 on incremental, issue price par on repricing, 101 soft call for six months; Barclays; repricing of existing term B and term C, and repay revolver borrowings; Morristown, N.J., provider of sustainable waste solutions.

CRASH CHAMPIONS (CHAMPIONS FINANCING INC.): $650 million five-year senior secured term B (B3/B-) talked at SOFR plus 500 bps, 0% floor, OID 98 to 98.5, 101 soft call for six months; BofA Securities, BMO, JPMorgan, Deutsche Bank and Truist; help refinance existing Service King and Crash Champions debt; collision repair platform and a multiple shop operator.

ENSONO: $100 million add-on term loan (B2) talked at SOFR+CSA plus 400 bps, step-down to SOFR plus 375 bps, CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, 0.75% floor, OID 99.04; KKR; general corporate purposes; Downers Grove, Ill., technology adviser, innovation partner and managed service provider.

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.

GOODRX: $662 million seven-year term B (B1) talked at SOFR plus 300 bps to 325 bps, 0% floor, OID 99.5, 101 soft call for six months; Goldman Sachs; refinance existing first-lien term loan; Santa Monica, Calif., consumer-focused digital healthcare platform.

GRAY TELEVISION INC.: $1.19 billion covenant-lite first-lien term F (Ba3/BB/BB+) due July 1, 2029 talked at SOFR plus 375 bps to 400 bps, 0% floor, OID 99, 101 soft call for six months; Wells Fargo; help refinance term E; Atlanta-based broadcast company.

HOWDEN GROUP HOLDINGS LTD.: $2.925 billion seven-year term B (B2/B) at SOFR plus 350 bps, 0.5% floor, OID 99.5, 101 soft call for six months; JPMorgan, Morgan Stanley, BofA Securities, Barclays, Goldman Sachs, RBC, Citigroup, HSBC, ING, Lloyds, NatWest and Santander; also €900 million seven-year term B at Euribor plus 400 bps, 0% floor OID 99.75, 101 soft call for six months; £630 million revolver; help refinance existing debt and general corporate purposes; London-based insurance intermediary group.

IMAGEFIRST HOLDINGS LLC: $382.9 million term loan (including $20 million delayed-draw tranche) talked at SOFR plus 425 bps, 0.75% floor, issue price par for rollover, OID 99.75 for new money, 101 soft call for six months; Antares; refinance existing term loans due April 2028; King of Prussia, Pa., provider of outsourced laundry and textile rental services.

INIZIO: $150 million add-on term B due August 2028 at SOFR+10 bps CSA plus 425 bps, 0.5% floor, OID 99.03; JPMorgan, Citigroup and Morgan Stanley; repay revolver borrowings and general corporate purposes; provider of medical communications, marketing, advisory and packaging services to pharma and biotech clients.

ION MARKETS: $140 million incremental first-lien term loan due April 2028 (B3/B-) at SOFR+10 bps CSA plus 475 bps, 0% floor, OID 99.03, 101 soft call for six months; UBS; fund a distribution; provider of mission-critical software for the global capital markets.

KITO CROSBY (CROSBY US ACQUISITION CORP.): $1.12 billion credit facilities; UBS, KKR, SMBC, Mizuho, ING and Morgan Stanley; $120 million five-year revolver; $1 billion 5.5-year first-lien term loan (B) talked at SOFR plus 425 bps to 450 bps, 0.5% floor, OID 99, 101 soft call for six months; refinance existing capital structure; manufacturer and marketer of highly engineered equipment and solutions used in lifting, rigging, and custom material handling solutions.

PLAYAGS INC. (AP GAMING I LLC): Roughly $549.9 million first-lien term loan due Feb. 15, 2029 talked at SOFR plus 375 bps, 0.75% floor, issue price par, 101 soft call for six months; Jefferies and Truist; repricing; Las Vegas-based designer and supplier of diverse gaming products and services to the gaming industry.

RENAISSANCE LEARNING INC.: $2.015 billion term B due April 7, 2030 at SOFR plus 425 bps, 0.5% floor, OID 99.75 for net new money, issue price par for existing lenders, 101 soft call for six months; Barclays; repricing; Wisconsin Rapids, Wis., provider of software solutions for assessment, teaching and learning to K-12 schools and districts.

SCIENCE APPLICATIONS INTERNATIONAL CORP.: Expected closing Feb. 8; $510.25 million seven-year senior secured covenant-lite term B (Ba1/BB+) at SOFR plus 187.5 bps, 0% floor, OID 99.75, 101 soft call for six months; Citigroup; refinance existing term B and term B-2; Reston, Va., technology integrator.

SHARP SERVICES LLC: $150 million add-on first-lien term loan (B3) due December 2028 talked at SOFR+10 bps CSA plus 400 bps, 0.5% floor, OID 99.03; JPMorgan and RBC; help refinance second-lien term loan; provider of pharmaceutical packaging and clinical services.

TENCATE GRASS HOLDING BV (TOUCHDOWN ACQUIRER INC.): $835 million seven-year term B (including $150 million delayed-draw tranche) (B2/B) talked at SOFR plus 425 bps to 450 bps, 0% floor, OID 98.5, 101 soft call for six months; BofA Securities, Jefferies, Deutsche Bank, BMO, Societe Generale and ING; also, €350 million seven-year term B (B) talked at Euribor plus 425 bps to 450 bps, 0% floor, OID 98.5, 101 soft call for six months; help fund buyout by Leonard Green & Partners LP from Crestview Partners and add cash to the balance sheet; Netherlands-based manufacturer, distributor and installer of artificial turf and other surfaces for sports and the outdoor living segment.

UNITED RENTALS (NORTH AMERICA) INC.: $750 million seven-year covenant-lite term B (Baa3) talked at SOFR plus 175 bps, 0% floor, OID 99.5 to 99.75, 101 soft call for six months; Wells Fargo; help refinance existing term B; Stamford, Conn., equipment rental company.

VERRA MOBILITY CORP. (VM CONSOLIDATED INC.): Roughly $705 million first-lien term loan due March 26, 2028 talked at SOFR plus 275 bps to 300 bps, 0% floor, issue price par, 101 soft call for six months; BofA Securities; repricing; Mesa, Ariz., provider of smart mobility technology solutions and services.

VESTIS CORP.: $800 million seven-year covenant-lite term loan B (Ba2/BB+) talked at SOFR plus 225 bps to 250 bps, 0% floor, OID 99.5, 101 soft call for six months; Wells Fargo; refinance existing term A-2; Roswell, Ga., provider of uniform rentals and workplace supplies.

WAYSTAR: $2.2 billion first-lien term loan (B3/B-/BB-) due May 2029 talked at SOFR plus 400 bps, 25 bps step-down at 0.5x inside closing leverage and 25 bps step-down upon an IPO, 0% floor, OID 99.5, 101 soft call for six months; JPMorgan, Barclays, BofA Securities, Deutsche Bank, Goldman Sachs and RBC; refinance existing first- and second-lien term loans; provider of health care payments software.

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; $850 million revolver; potentially $500 million term B; 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.

OSAIC INC.: $500 million incremental term loan; UBS; help fund acquisition of Lincoln Financial Group’s wealth management business; provider of wealth management solutions.

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.

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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