Bank Loan Calendar: $22.6716 billion deals being marketed

April Lender Calls

AHEAD DB HOLDINGS LLC: Lender call April 17; $614 million term loan due February 2031; RBC; extension of first-lien term loan-1; Chicago-based IT solutions provider of enterprise hardware and software.

PRESS GANEY (AZALEA TOPCO INC.): Lender call April 17; $1.825 billion seven-year term B, 101 soft call for six months; Barclays; repay revolver borrowings, first-lien term loans and second-lien notes, and redeem Series A preferred stock; provider of mission-critical experience management solutions for healthcare providers and payors, pharmaceutical companies and other complex industries outside the healthcare industry.

Upcoming Closings

AECOM: $700 million seven-year first-lien term B (Baa3/BBB-) talked at SOFR plus 187.5 bps, 0% floor, OID 99.5 to 99.75, 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.

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.

BRAZOS MIDSTREAM (BRAZOS DELEWARE II LLC): $750 million term B due Feb. 11, 2030 (B1/B+) talked at SOFR plus 350 bps, 0.5% floor, OID 99.75 to par for net new money, issue price par for existing money, 101 soft call for six months; Barclays; repricing; Fort Worth-based natural-gas and crude-oil midstream 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.

CARNIVAL CORP.: $2.748 billion of term loans (BB+); JPMorgan; $1 billion term loan due 2027 talked at SOFR plus 275 bps, 0.75% floor, OID 99.875 to par, 101 soft call for six months; $1.748 billion term loan due 2028 talked at SOFR plus 275 bps, 0.75% floor, OID 99.875 to par, 101 soft call for six months; repricing; Miami-based cruise operator.

CEDAR FAIR: $1 billion term B due 2031 (Ba2/BB+) talked at SOFR plus 250 bps, 0% floor, OID 99.5, 101 soft call for six months; Goldman Sachs, JPMorgan, Wells Fargo, PNC, KeyBanc, Fifth Third, Citizens, HSBC, Texas Capital and Capital One; refinance notes in connection with merger of Cedar Fair and Six Flags Entertainment Corp.; Charlotte, N.C., amusement park operator.

DAVITA INC.: $2.6 billion term B due 2031 talked at SOFR plus 200 bps, 0% floor, OID 99.5, 101 soft call for six months; Goldman Sachs; refinance existing term B; Denver-based provider of kidney dialysis services.

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.

FRANKLIN SQUARE HOLDINGS: $700 million seven-year term B (Ba1/BB) talked at SOFR plus 225 bps to 250 bps, 0% floor, OID 99.5, 101 soft call for six months; JPMorgan; refinance existing term loans and general corporate purposes; Philadelphia-based financial and investment services company.

ISOLVED INC.: Roughly $623.6 million first-lien term loan (including $50 million incremental) due Oct. 14, 2030 at SOFR plus 350 bps, 0% floor, issue price par, 101 soft call for six months; UBS, Citigroup, Deutsche Bank, Jefferies and JPMorgan; fund cash to the balance sheet, general corporate purposes and repricing; provider of cloud-based human capital management software.

KINDERCARE LEARNING COS. INC. (KUEHG CORP.): $1.583 billion term B due June 12, 2030 (B2/B/BB) talked at SOFR plus 450 bps, 0.5% floor, OID 99.75 to par for net new money, issue price par for existing money, 101 soft call for six months; Barclays; repricing; Lake Oswego, Ore., provider of private early childhood care and education.

LES SCHWAB TIRE CENTERS: $1.918 billion term B due 2031 (B2/B) at SOFR plus 300 bps, 0% floor, issue price par, 101 soft call for six months; 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.

POINTCLICKCARE TECHNOLOGIES INC.: $392 million term B due December 2027 talked at SOFR+CSA plus 300 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 99.875 to par, 101 soft call for six months; JPMorgan; repricing of incremental term B and combination with existing term B; Canada-based cloud-based health care software provider.

ROCKET SOFTWARE INC.: $880 million add-on term B due November 2028 (B3/B-/BB-) at SOFR plus 475 bps, 0.5% floor, OID 99, 101 soft call for six months; RBC, Barclays, Deutsche Bank, UBS, Citigroup, HSBC, Mizuho, SMBC and Goldman Sachs; also, €300 million add-on term B due November 2028 (B3/B-/BB-) 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.

SPRING EDUCATION GROUP: $848 million covenant-lite first-lien term loan due October 2030 talked at SOFR plus 400 bps, 0% floor, OID 99.75 for new money, issue price par for existing lenders, 101 soft call for six months; Macquarie; repricing; Campbell, Calif., private pre-K through 12th grade school operator.

THRYV INC.: $350 million five-year term B (B3/B+) talked at SOFR plus 700 bps, 1% floor, OID 98, soft call 102, 101; Citizens; refinance existing debt; Dallas-based software and marketing services company.

TRACE3 (ESCAPE VELOCITY HOLDINGS INC.): $225 million covenant-lite incremental term B due Oct. 8, 2028 (B3/B) 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.

TRC COS. LLC (ENERGIZE HOLDCO): $105 million incremental first-lien term loan due December 2028 (B3/B) talked at SOFR+CSA plus 375 bps, 0.5% floor, OID 99.25; UBS; partially refinance existing second-lien term loan; Windsor, Conn., tech-enabled consulting firm focused on providing end-to-end engineering, science and technology solutions.

UNITED NATURAL FOODS INC.: $500 million seven-year term loan (B+) talked at SOFR plus 500 bps to 525 bps, 0% floor, OID 97 to 98, call protection 102, 101; JPMorgan; help refinance existing term loan; Providence, R.I., grocery wholesaler.

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.

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.

RESIDEO TECHNOLOGIES INC.: $600 million incremental senior secured term loan; BofA Securities and Morgan Stanley; help fund acquisition of Snap One Holdings Corp.; Scottsdale, Ariz., manufacturer and developer of technology-driven products and components that provide critical comfort, energy management, and safety and security solutions to homes.

© 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.