Bank Loan Calendar: $16.7086 billion deals being marketed

April Lender Calls

THRYV INC.: Lender call April 11; $350 million five-year term B, soft call 102, 101; Citizens; refinance existing debt; Dallas-based software and marketing services company.

Upcoming Closings

ADVANTAGE SALES & MARKETING INC.: $1.146 billion term B due Oct. 28, 2027 (BB-) talked at SOFR+CSA plus 400 bps to 425 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, issue price par, 101 soft call for six months; BofA Securities; repricing; Irvine, Calif., provider of outsourced sales and marketing services to consumer goods manufacturers and retailers.

AECOM: $700 million seven-year first-lien term B (Baa3) talked at SOFR plus 187.5 bps to 200 bps, 0% floor, OID 99.5, 101 soft call for six months; BofA Securities; help refinance existing first-lien credit facilities and add cash to the balance sheet; Dallas-based provider of professional infrastructure consulting services.

AMAWATERWAYS LLC: $525 million seven-year term B (B2/B) talked at SOFR plus 375 bps to 400 bps, 25 bps step-downs at 4.5x and 4x first-lien net leverage and 25 bps step-down upon an IPO, 0% floor, OID 99, 101 soft call for six months; JPMorgan; help fund buyout by L Catterton from a consortium of investors led by Certares; Calabasas, Calif., luxury river cruise line.

AMERICAN GREETINGS CORP.: $800 million 5½-year senior secured term B (B2) talked at SOFR plus 575 bps to 600 bps, 0% floor, OID 98 to 98.5, 101 soft call for six months; Barclays; refinance existing first-lien term loan and any revolver borrowings, fund a distribution to shareholders and add cash to the balance sheet; Cleveland-based celebration solutions provider offering greeting cards, gift packaging, party goods, gifting products and digital offerings.

ANTICIMEX INC.: $367 million covenant-lite term B due November 2028 talked at SOFR plus 350 bps, 0.5% floor, issue price par, 101 soft call for six months; Deutsche Bank, BNP Paribas, Goldman Sachs, Morgan Stanley, Nordea and SEB; reprice term B-4; Stockholm-based preventive pest control company.

BROCK HOLDINGS III LLC: $650 million credit facilities; Deutsche Bank; $500 million six-year first-lien term B (B3/B-) talked at SOFR plus 625 bps, 0.5% floor, OID 97 to 98, 101 soft call for six months; $150 million asset-based revolver; refinance existing capital structure; Houston-based industrial specialty craft services provider of scaffolding, coatings, insulation, painting, abatement, and other soft crafts, as well as mechanical and safety services.

BUYERS EDGE PLATFORM: $550 million seven-year term B (B1/B) talked at SOFR plus 400 bps, 0% floor, OID 99 to 99.5, 101 soft call for six months; JPMorgan, BofA Securities, Truist, Wells Fargo and GA Credit; refinance existing debt, fund a distribution and add cash to the balance sheet; Waltham, Mass., provider of procurement, supply chain management and software services to foodservice operators.

ECL ENTERTAINMENT LLC: $429 million first-lien term loan (including $50 million incremental) due August 2030 (B2/B+) talked at SOFR plus 425 bps, 0% floor, OID 99.5 on incremental, issue price par on repricing, 101 soft call for six months; Santander; fund a joint venture investment and repricing; multi-property regional gaming company.

END-USER COMPUTING (MODENA BUYER LLC): $2.86 billion credit facilities (B2/B); UBS, KKR, Jefferies, Citigroup, Natixis, SMBC and Scotia; $260 million five-year revolver; $2.6 billion seven-year first-lien term loan talked at SOFR plus 400 bps to 425 bps, 0% floor, OID 98.5, 101 soft call for six months; help fund buyout by KKR from Broadcom Inc.; Toledo, Ohio, provider of digital workspace solutions.

ENDO: $1.65 billion credit facilities (B2/B+); Goldman Sachs and JPMorgan; $400 million super-priority revolver; $1.25 billion seven-year term B talked at SOFR plus 475 bps to 500 bps, 25 bps step-down at 0.5x inside closing date first-lien net leverage, 0.5% floor, OID 98 to 98.5, 101 soft call for six months; help fund exit from Chapter 11; Dublin-based specialty pharmaceutical company.

FLEXERA SOFTWARE LLC: $210 million incremental first-lien term loan 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, 0.75% floor, OID 99.5 to 99.75; Jefferies; pay down existing second-lien term loan; Itasca, Ill., SaaS and Software Asset Management and Software Monetization provider.

ISOLVED INC.: $623.6 million first-lien term loan (including $50 million incremental) due Oct. 12, 2030 talked at SOFR plus 350 bps to 375 bps, 0% floor, OID 99.75 on new money, issue price par on existing money, 101 soft call for six months; UBS; fund cash to the balance sheet, general corporate purposes and repricing; provider of cloud-based human capital management software.

LES SCHWAB TIRE CENTERS: $1.918 billion term B talked at SOFR plus 325 bps, 0% floor, OID 99.5; JPMorgan; refinance existing term B and general corporate purposes; Bend, Ore., tire retail chain.

MASORANGE (LORCA FINCO PLC): €1.5 billion equivalent U.S and euro seven-year covenant-lite term B (including roughly €190 million pre-placement) (Ba3/BB+/BB+); BofA Securities, BNP Paribas, BBVA (on euro only), Natixis (on euro only), Caixa, Credit Agricole, Credit Suisse, Goldman Sachs, ING, Intesa, JPMorgan, Mizuho, Santander, SMBC and Societe Generale; U.S. term B talked at SOFR plus 350 bps, 0% floor, OID 99.5, 101 soft call for six months; euro term B talked at Euribor plus 350 bps to 375 bps, 0% floor, OID 99.5, 101 soft call for six months; help refinance drawn facilities; mobile and fixed telecom company in Spain.

RADNET MANAGEMENT INC.: $1.125 billion credit facilities (Ba3); Barclays; $250 million five-year revolver; $875 million seven-year term B at SOFR plus 250 bps, 0% floor, OID 99.25, 101 soft call for six months; refinance existing revolver, repay existing term B and general corporate purposes; Los Angeles-based owner and operator of outpatient diagnostic imaging centers.

ROCKET SOFTWARE INC.: $1 billion equivalent U.S. and euro term B due November 2028 (B3/B-/BB-); RBC, Barclays, Deutsche Bank, UBS, Citigroup, HSBC, Mizuho, SMBC and Goldman Sachs; U.S. term B talked at SOFR plus 475 bps, 0.5% floor , OID 98.5, 101 soft call for six months; euro term B talked at Euribor plus 475 bps, 0% floor, OID 98.63, 101 soft call for six months; help fund acquisition of OpenText’s Application Modernization and Connectivity business; Waltham, Mass., provider of enterprise infrastructure software.

SAVAGE ENTERPRISES LLC: $275 million incremental senior secured covenant-lite first-lien term B due September 2028 (B1/BB-/BB-) talked 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, OID 99.5; Morgan Stanley; support an acquisition; Salt Lake City-based supply chain provider.

SUSE (MARCEL BIDCO): $675 million term B talked at SOFR plus 400 bps, 0.5% floor, issue price par, 101 soft call for six months; JPMorgan; also, €550 million term B talked at Euribor plus 400 bps to 425 bps, 0% floor, issue price par, 101 soft call for six months; repricing; Nuremberg, Germany, provider of open source infrastructure software for large enterprises.

TRACE3 (ESCAPE VELOCITY HOLDINGS INC.): $225 million covenant-lite incremental term B due Oct. 8, 2028 (B3/B) talked at SOFR plus 425 bps, 0.5% floor, OID 99.03, 101 soft call for six months; Wells Fargo, Jefferies, Santander and UBS; fund a shareholder distribution; Irvine, Calif., technology and software focused IT solutions provider.

UTZ QUALITY FOODS LLC: $630 million term B due Jan. 20, 2028 talked at SOFR plus 250 bps to 275 bps, 0% floor, issue price par, 101 soft call for six months; BofA Securities; repricing; Hanover, Pa., manufacturer of branded salty snacks.

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.

CADENT LLC: New debt financing; RBC; help fund acquisition of AdTheorent Holding Co. Inc.; New York-based provider of platform-based converged TV advertising solutions.

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.

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.

ENDEAVOR GROUP HOLDINGS INC.: New debt financing; JPMorgan, Morgan Stanley, BofA Securities, Goldman Sachs, Barclays, Deutsche Bank and RBC; help fund buyout by Silver Lake; Beverly Hills, Calif., sports and entertainment company.

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.

NUVEI CORP.: $3.15 billion credit facilities; BMO; $600 million revolver; $2.55 billion term loan; help fund buyout by Advent International; Montreal-based technology provider in the payments industry.

PRESIDIO: New debt financing; JPMorgan, Citigroup, Wells Fargo, RBC, BNP Paribas, UBS and Deutsche Bank; help fund buyout by Clayton Dubilier & Rice from BC Partners; New York-based technology services and solutions provider.

© 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.