Bank Loan Calendar: $53.6321 billion deals being marketed

March Lender Calls

GIP II BLUE HOLDING LP (HESM HOLDCO): Lender call March 22; roughly $539.5 million term B; Morgan Stanley; repricing; owner of general partner and equity unit ownership interests in Hess Midstream LP and its operating subsidiary, Hess Midstream Operations LP.

Upcoming Closings

ALTERRA MOUNTAIN CO.: $2.686 billion of term loans; JPMorgan; $1.988 billion term loan due 2028 talked at SOFR plus 325 bps, 0% floor, issue price par, 101 soft call for six months; $498 million term loan due 2030 talked at SOFR plus 350 bps, 0% floor, issue price par, 101 soft call for six months; $200 million add-on term loan due 2030 talked at SOFR plus 350 bps, 0% floor, issue price par, 101 soft call for six months; repricing; Denver-based mountain resort and adventure company.

AMERICAN AUTO AUCTION GROUP LLC: $100 million incremental first-lien term loan due Dec. 30, 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, 0.75% floor, OID 99.28; Jefferies and BMO; refinance existing debt and fund tuck-in acquisitions; used whole car auction market company.

ARAMARK SERVICES INC.: $1.825 billion of term loans; Wells Fargo; $730 million covenant-lite term B-7 due April 6, 2028 talked at SOFR plus 200 bps to 225 bps, 0% floor, issue price par, 101 soft call for six months; $1.095 billion covenant-lite term B-8 due June 22, 2030 talked at SOFR plus 200 bps to 225 bps, 0% floor, issue price par, 101 soft call for six months; reprice existing term B-5 due April 6, 2028 and existing term B-6 due June 22, 2030; Philadelphia-based food service and facilities services provider.

AVANTOR INC.: $772 million term B due November 2027 talked at SOFR+10 bps CSA plus 200 bps, 0.5% floor, issue price par, 101 soft call for six months; Goldman Sachs; repricing; Radnor, Pa., provider of mission critical products and services to customers in the biopharma, health care, education & government, and advanced technologies & applied materials industries.

BEACON ROOFING SUPPLY INC.: $1.275 billion covenant-lite term B (including $300 million add-on) due May 19, 2028 at SOFR plus 200 bps, 0% floor, issue price par, 101 soft call for six months; Citigroup, BofA Securities, Deutsche Bank, JPMorgan, Truist and Wells Fargo; general corporate purposes and repricing; Herndon, Va., distributor of roofing materials and complementary building products.

CHROMALLOY CORP.: $900 million seven-year term B (B2/B) at SOFR plus 375 bps, 0% floor, OID 99, 101 soft call for six months; RBC, Goldman Sachs, BofA Securities, UBS, BMO, Mizuho, PSP, Citizens and MUFG; refinance existing term loan; Palm Beach Gardens, Fla., provider of proprietary engine solutions, primarily for the commercial aerospace, energy and military end markets.

COHERENT CORP.: $2.443 billion term loan due 2029 talked at SOFR plus 250 bps, 0.5% floor, OID 99.75 to par, 101 soft call for six months; JPMorgan; repricing; Saxonburg, Pa., provider of optical communications components and subsystems.

CRISIS PREVENTION INSTITUTE INC. (TEI HOLDINGS INC.): $400 million seven-year first-lien term loan (B3/B-) talked at SOFR plus 450 bps to 475 bps, 25 bps step-downs at 0.5x and 1x inside of first-lien net leverage, 0.5% floor, OID 99, 101 soft call for six months; Jefferies, Macquarie and Antares; refinance existing debt and fund a distribution to shareholders; provider of crisis de-escalation training programs.

CRYSTAL CLEAN (JFL-TIGER ACQUISITION CO. INC.): $620 million first-lien term loan due Oct. 17, 2030 talked at SOFR plus 450 bps, 0.5% floor, issue price par, 101 soft call for six months; Jefferies; repricing; Hoffman Estates, Ill., provider of specialized environmental and waste management services.

CURIUM PHARMA: $1.065 billion term B due July 2029 talked at SOFR plus 400 bps to 425 bps, 0% floor, issue price par, 101 soft call for six months; JPMorgan; repricing; London and Paris-based nuclear medicine company.

DATAVANT (CIOX HEALTH/CT TECHNOLOGIES INTERMEDIATE HOLDINGS INC.): Roughly $752 million credit facilities (B3/B); UBS, Goldman Sachs and Deutsche Bank; $100 million revolver due December 2028; roughly $652 million first-lien term loan due December 2028 talked at SOFR plus 425 bps to 450 bps, OID 99 to 99.5, 101 soft call for six months; extend existing credit facilities; Alpharetta, Ga., health care data logistics company.

DYE & DURHAM: $367 million seven-year senior secured term B (B1/B) talked at SOFR plus 450 bps, 1% floor, OID 98, 101 soft call for six months; Goldman Sachs; help refinance existing first-lien capital structure and repay convertible debentures; Toronto provider of cloud-based software and technology solutions to law firms.

ECI SOFTWARE SOLUTIONS: Roughly $981 million first-lien term loan B due May 9, 2030 (B2/B-) talked at SOFR plus 375 bps, 0.75% floor, OID 99.5 to 99.75, 101 soft call for six months; BofA Securities; extend existing term B; Westlake, Tex., provider of enterprise resource planning solutions.

EPIC Y-GRADE SERVICES LP: $1.075 billion senior secured term B due June 30, 2029 (B3/B-) talked at SOFR plus 550 bps to 575 bps, 0% floor, OID 97.5 to 98, 101 soft call for six months; Barclays, Wells Fargo, UBS, TCS and MUFG; refinance existing debt and repay EPIC propane loan; transporter of natural gas liquids.

HILLMAN GROUP INC.: Roughly $751.9 million first-lien term loan due July 14, 2028 talked at SOFR plus 250 bps, 25 bps step-down at 3x first-lien net leverage, 0.5% floor, issue price par, 101 soft call for six months; Jefferies; repricing; Cincinnati-based supplier of consumable hardware, personal protective equipment, and robotic and digital technologies.

HILTON GRAND VACATIONS BORROWER LLC: $1.271 billion term B due Aug. 2, 2028 at SOFR plus 250 bps, 0% floor, issue price par, 101 soft call for six months; BofA Securities; repricing; Orlando, Fla., timeshare company.

HIRERIGHT HOLDINGS CORP.: $250 million incremental first-lien term loan due September 2030 (B2/B) talked at SOFR plus 400 bps, 0% floor, OID 99; Goldman Sachs, RBC, Stone Point, Barclays, Citizens and Capital One; help fund acquisition by General Atlantic and Stone Point Capital LLC of shares that the sponsors do not already own; Nashville-based provider of technology-driven workforce risk management and compliance solutions.

INSTALLED BUILDING PRODUCTS INC.: $500 million seven-year covenant-lite term B (Ba1/BB+) at SOFR plus 200 bps, 0% floor, OID 99.875, 101 soft call for six months; RBC; refinance existing term B; Columbus, Ohio, installer of insulation and complementary building products.

INTERSTATE WASTE SERVICES INC.: $755 million term loan B (including $75 million delayed-draw tranche) due October 2030 talked at SOFR plus 400 bps to 425 bps, 0.5% floor, issue price par, 101 soft call for six months; JPMorgan; repricing; Teaneck, N.J., provider of waste and recycling services.

KAMAN CORP.: $940 million credit facilities (B2/B/BB); Morgan Stanley, BMO, RBC, Stifel and Capital One; $150 million revolver; $790 million seven-year senior secured covenant-lite first-lien term B talked at SOFR plus 400 bps, 0.75% floor, OID 99, 101 soft call for six months; 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.

KINDERCARE LEARNING COS. INC. (KUEHG CORP.): $265 million incremental first-lien term B due June 12, 2030 (B2/B/BB) at SOFR plus 500 bps, 0.5% floor, OID 99.75; Barclays, Macquarie, Goldman Sachs, Deutsche Bank, UBS, Jefferies, KKR and Citizens; general corporate purposes; Lake Oswego, Ore., provider of private early childhood care and education.

MEDLINE BORROWER LP: Roughly $6.143 billion first-lien term loan due Oct. 21, 2028 (B1/B+/BB-) at SOFR plus 275 bps, 0.5% floor, issue price par, 101 soft call for six months; BofA Securities and Goldman Sachs; revise existing term B to remove pricing grid and CSA, and potential reprice; Northfield, Ill., manufacturer and distributor of health care supplies to hospitals, post-acute settings, physician offices and surgery centers.

MISTER CAR WASH HOLDINGS INC.: $925 million seven-year term B (B2/B) at SOFR plus 300 bps, 0% floor, issue price par, 101 soft call for six months; BofA Securities; refinance outstanding term loans; Tucson-based car wash operator.

MITER BRANDS ACQUISITION HOLDCO INC.: $1.654 billion seven-year incremental term B-2 (B1/BB-/BB+) at SOFR plus 350 bps, 0% floor, OID 99.5, 101 soft call for six months; RBC; help fund acquisition of PGT Innovations Inc. and repay existing term loan; manufacturer of precision-built windows and doors.

NORTHRIVER MIDSTREAM: Roughly $845.8 million senior secured covenant-lite term B due August 2030 at SOFR plus 250 bps, 0% floor, OID 99.75; BMO and RBC; repricing; Canadian gas gathering and processing business.

NRG ENERGY INC.: $875 million seven-year senior secured covenant-lite term B (BBB-/BBB-) talked at SOFR plus 200 bps, 0% floor, OID 99 to 99.5, 101 soft call for six months; Citigroup; repay notes and general corporate purposes; Houston-based provider of energy solutions and natural gas.

PARADIGM (OUTCOMES GROUP HOLDINGS INC.): $800 million credit facilities (B3/B); UBS; $100 million five-year revolver; $700 million seven-year first-lien term loan talked at SOFR plus 425 bps to 450 bps, 0% floor, OID 99, 101 soft call for six months; refinance existing credit facilities; Walnut Creek, Calif., accountable, specialty care management organization.

PERFORCE SOFTWARE LLC: $375 million incremental first-lien term loan (B2/B-) talked at SOFR plus 475 bps, no floor, OID 99, 101 soft call for six months; Antares; fund an acquisition and pay down revolver borrowings; Minneapolis-based developer of software used for application development.

PROAMPAC: $2.497 billion term loan (including $263 million add-on) (B3/B-) talked at SOFR plus 400 bps to 425 bps, 0% floor, OID 99.75 on add-on, issue price par on repricing, 101 soft call for six months; JPMorgan; support acquisitions and repricing; Cincinnati-based manufacturer of flexible packaging and material science solutions.

QUIKRETE HOLDINGS INC.: $4.07 billion of term loans (BB); Wells Fargo; $1.67 billion covenant-lite term B due March 18, 2029 talked at SOFR plus 225 bps, 0% floor, issue price par, 101 soft call for six months; $2.4 billion seven-year covenant-lite term B talked at SOFR plus 250 bps, 0% floor, OID 99.5 to 99.75, 101 soft call for six months; reprice existing 2029 term B and refinance 2027 term B; Atlanta-based manufacturer of infrastructure and industrial construction, repair and home improvement products.

RELADYNE INC.: $649 million first-lien term B-2 due December 2028 at SOFR plus 450 bps, 0.5% floor, OID 99.875, 101 soft call for six months; RBC; repricing and repay ABL revolver borrowings; Cincinnati-based provider of lubricant and fuel sales & distribution and equipment reliability services to the industrial, commercial and automotive industries.

RUSSELL INVESTMENTS: $1.207 billion first-lien term B due May 30, 2027 (B+) talked at SOFR plus 500 bps plus 150 bps PIK interest, 1% floor, 3 points cash OID, 4 points PIK OID, callable at par through December 2025, 101 through December 2026, 103 thereafter; Barclays; amend and extend existing first-lien term B; Seattle-based investment solutions provider.

SHARP SERVICES LLC: $852 million first-lien term B due December 2028 (B3/B-) talked at SOFR plus 375 bps to 400 bps, 0% floor, issue price par, 101 soft call for six months; JPMorgan; combine and reprice existing term loans; provider of pharmaceutical packaging, clinical trial supply and small-scale sterile manufacturing services.

SUPPLYONE: $770 million seven-year term B (B2/B) talked at SOFR plus 450 bps, 0% floor, OID 98, 101 soft call for six months; RBC; refinance existing private credit deal; distributor of corrugated and other packaging products, equipment and services.

SWISSPORT: €1.2 billion equivalent U.S. and euro seven-year term B (B2/B+/BB+); JPMorgan, Barclays, BofA Securities Inc., Citigroup, Morgan Stanley, UBS, Goldman Sachs, Natixis, NatWest, RBC and Santander; minimum $500 million term B talked at SOFR plus 450 bps to 475 bps, 0% floor, OID 98 to 98.5, 101 soft call for six months; euro term B talked at Euribor plus 450 bps to 475 bps, 0% floor, OID 98 to 98.5, 101 soft call for six months; repay existing debt, fund a capital return to shareholders and add cash to the balance sheet; Zurich-based provider of mission critical airport handling services.

TEKNI-PLEX INC.: (TRIDENT TPI HOLDINGS INC.): $875.6 million first-lien term B-5 due Sept. 17, 2028 talked at SOFR plus 400 bps, 0.5% floor, OID 99.75 to par, 101 soft call for six months; UBS; repricing; Wayne, Pa., provider of health care and consumer material solutions.

TRUIST INSURANCE HOLDINGS: $6.425 billion credit facilities; JPMorgan, Morgan Stanley, BofA Securities, Wells Fargo, Truist, Stone Point, Barclays, RBC, Citigroup, Goldman Sachs, BNP Paribas, Mizuho and TD Securities on first-lien; Stone Point and Morgan Stanley on already syndicated second-lien; $3.35 billion seven-year covenant-lite first-lien term B (B2/B/B+) at SOFR plus 325 bps, 25 bps step-down at 4.75x first-lien net leverage and 25 bps step-down upon an IPO, 0% floor, OID 99.75, 101 soft call for six months; $1.175 billion five-year revolver (B2/B/B+); $1.9 billion eight-year second-lien term loan (Caa2/CCC+/CCC+) at SOFR plus 475 bps, 0% floor, issue price par, hard call 102, 101; help fund buyout by Stone Point Capital and Clayton, Dubilier & Rice from Truist Financial Corp.; Charlotte, N.C., insurance brokerage.

ULTRA CLEAN HOLDINGS INC.: $479 million senior secured term B due February 2028 talked at SOFR plus 375 bps, 0% floor, OID 99.5, 101 soft call for six months; Barclays, HSBC and SMBC; refinance/extend an existing term loan; Hayward, Calif., developer and supplier of critical subsystems, components and parts, and ultra-high purity cleaning and analytical services primarily for the semiconductor industry.

U.S. SILICA CO.: $843 million first-lien term B due March 2030 (B1/B) at SOFR plus 400 bps, 0.5% floor, OID 99.75, 101 soft call for six months; BNP Paribas and MUFG; repricing; Katy, Tex., performance materials company.

VERITEXT: $940 million term B due August 2030 talked at SOFR plus 350 bps to 375 bps, 0.5% floor, issue price par, 101 soft call for six months; Goldman Sachs; repricing; Livingston, N.J., deposition service provider, assisting law firms and corporations in facilitating litigation proceedings.

VOYAGE DIGITAL (NZ) LTD.: $477.3 million senior secured covenant-lite first-lien term B due May 14, 2029 (Ba3/BB-) talked at SOFR plus 325 bps to 350 bps, 0.5% floor, issue price par, 101 soft call for six months; Morgan Stanley; repricing; telecommunications company.

ZEKELMAN INDUSTRIES: $900 million term B due Jan. 24, 2031 (Ba3/BBB-) at SOFR plus 225 bps, 25 bps step-down at Ba1/BB+ corporate ratings, 0% floor, OID 99.75, 101 soft call for six months; Goldman Sachs and BofA Securities; amend, extend and modestly upsize existing senior secured term B; Chicago-based steel and pipe producer.

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.

COHESITY: New debt financing; JPMorgan; help fund combination with Veritas’ data protection business; San Jose, Calif., AI-powered data security and management company.

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.

DELTA UTILITIES: New debt financing; Jefferies and Scotiabank; help fund acquisition of CenterPoint Energy Inc.’s natural gas distribution operations in Louisiana and Mississippi; New Orleans-based natural gas distribution company.

END-USER COMPUTING: $2.86 billion credit facilities; UBS, KKR and Jefferies; $260 million revolver; $2.6 billion first-lien term loan; help fund buyout by KKR from Broadcom Inc.; provider of digital workspace solutions.

EVERI HOLDINGS INC./INTERNATIONAL GAME TECHNOLOGY INC. (IGNITE ROTATE LLC): $3.22 billion senior secured credit facilities; Deutsche Bank and Macquarie; $500 million five-year revolver; $2.72 billion seven-year term loan; help fund merger of Everi with International Game Technology plc’s Global Gaming and PlayDigital businesses; gaming and fintech company.

FIRST ADVANTAGE CORP.: $2.07 billion credit facilities; BofA Securities, Barclays, BMO, Jefferies and RBC; $250 million five-year revolver; $1.82 billion seven-year senior secured incremental covenant-lite term loan expected at SOFR plus 325 bps, two 25 bps step-downs at first-lien leverage of 0.5x and 1x less than at closing, 0% floor, 101 soft call for six months; help fund acquisition of Sterling Check Corp., retire existing Sterling debt, and expand and extend existing revolver; Atlanta-based provider of employment background screening, identity and verification solutions.

GLATFELTER CORP.: $1.835 billion senior secured credit facilities; Citigroup and Wells Fargo; $1.585 billion seven-year term loan; $250 million five-year ABL revolver; help fund merger with Berry Global Group Inc.’s health, hygiene and specialties global nonwovens and films business, and repay certain debt of Glatfelter; Charlotte, N.C., supplier of engineered materials.

RESTAURANT BRANDS INTERNATIONAL INC.: $750 million incremental senior secured covenant-lite term loan due Sept. 21, 2030 expected at SOFR plus 225 bps, 0% floor; JPMorgan; 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.

VIAVI SOLUTIONS: $900 million credit facilities; Wells Fargo; $100 million five-year revolver expected at SOFR plus 350 bps, two 25 bps step-downs based on leverage, 0% floor; $800 million seven-year covenant-lite term loan (//BB+) expected at SOFR plus 375 bps, two 25 bps step-downs based on leverage, 0% floor; help fund acquisition of Spirent Communications plc; Chandler, Ariz., provider of communications test, measurement and optical technologies.

© 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.