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Published on 5/30/2018 in the Prospect News Bank Loan Daily.

Bank Loan Calendar: $73.5083 billion deals being marketed

May Bank Meetings

BOB’S DISCOUNT FURNITURE LLC: Lender call May 31; $257 million term B; RBC; amendment and extension; Manchester, Conn., retailer of furniture and bedding.

FORTRESS INVESTMENT GROUP (FINCO I LLC): Lender call May 31; $1.2 billion covenant-light term B due Dec. 27, 2022 talked at Libor plus 175 bps, step-down to Libor plus 150 bps if corporate ratings from any two of S&P, Moody’s and Fitch are investment grade, 0% Libor floor, 101 soft call for six months; Deutsche Bank; repricing; New York-based alternative asset management firm.

IQVIA INC.: Lender call May 31; $500 million seven-year term B (Ba1/BBB-) talked at Libor plus 175 bps to 200 bps, 0% Libor floor, OID 99.5 to 99.75, 101 soft call for six months; JPMorgan; also €435 million seven-year term B (Ba1/BBB-) talked at Euribor plus 200 bps, 0.5% floor, OID 99.75, 101 soft call for six months; pay down revolver borrowings and general corporate purposes; information and technology-enabled health care service provider.

POWERSCHOOL GROUP LLC: Bank meeting May 31; $1.26 billion credit facilities; Barclays (left on first-lien), Credit Suisse (left on second-lien), Macquarie, Ares, Golub and Jefferies; $120 million five-year revolver; $775 million seven-year first-lien term loan; $365 million eight-year second-lien term loan; help fund buyout by Onex Corp. and Vista Equity Partners; Folsom, Calif., education technology platform for K-12 schools.

SOLENIS LLC: Bank meeting in London May 31 (NY was May 30); $1.85 billion equivalent senior secured credit facilities; Citigroup (left on first-lien), Bank of America (left on second-lien), Credit Suisse, Deutsche Bank, Natixis, RBC, Macquarie and ING; $200 million five-year multi-currency revolver (B-); $700 million seven-year covenant-light first-lien term loan (B-) talked at Libor plus 350 bps, 25 bps step-up if the combination with BASF Paper & Water doesn’t close and first-lien leverage is more than 4.75x, 0% Libor floor, OID 99.5, 101 soft call for six months; €475 million eight-year covenant-light first-lien term loan (B-) talked at Euribor plus 350 bps, 25 bps step-up if the combination with BASF Paper & Water doesn’t close and first-lien leverage is more than 4.75x, 0.5% floor, OID 99.5, 101 soft call for six months; $400 million covenant-light second-lien term loan (CCC+) talked at Libor plus 750 bps, 25 bps step-up if the combination with BASF Paper & Water doesn’t close and secured leverage is more than 5.75x, 0% Libor floor, OID 99, call protection 102, 101; refinance existing credit facilities in preparation for combination with BASF’s paper and water chemicals business; Wilmington, Del., producer of specialty chemicals for water intensive industries.

SOUTHERN GRAPHICS INC.: Lender call May 31; Bank of America; Louisville, Ky., provider of design-to-print graphics services to the consumer products packaging industry.

UBER TECHNOLOGIES INC.: Lender call May 31; $1.1328 billion senior secured term B; Morgan Stanley, Bank of America, Barclays, Citigroup, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, RBC and SunTrust; repricing; San Francisco-based online transportation network company.

Upcoming Closings

24 HOUR FITNESS WORLDWIDE INC.: Expected closing May 31; $970 million senior secured credit facilities (Ba3/B+); Morgan Stanley, Bank of America, Barclays, RBC and Citizens; $120 million five-year revolver; $850 million seven-year covenant-light first-lien term B at Libor plus 350 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; refinance existing debt and backstop, cash collateralize and/or replace existing letters of credit; San Ramon, Calif., fitness-club operator.

ADS TACTICAL INC.: $250 million seven-year covenant-light term B (B3/B) at Libor plus 525 bps, 1% Libor floor, OID 99, 101 hard call; Wells Fargo; refinance existing debt; Virginia Beach, Va., provider of value-added logistics and supply chain solutions specializing in tactical & operational equipment and kitted solutions.

ADVANCED COMPUTER SOFTWARE: Expected closing June 8; new senior secured credit facilities (B3); Morgan Stanley and Goldman Sachs; $50 million revolver; $325 million covenant-light first-lien term loan due May 31, 2024 at Libor plus 475 bps, 0% Libor floor, OID 99.75, 101 soft call for six months; £282 million covenant-light first-lien term loan due May 31, 2024 at Libor plus 475 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; refinance existing debt; U.K.-based provider of software and IT services.

ALBERTSONS COS. LLC: $1.5 billion five-year asset-based last-out term loan (Ba2/BB-) at Libor plus 300 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; Bank of America, Credit Suisse, Goldman Sachs, Morgan Stanley, Barclays, Deutsche Bank, RBC, Wells Fargo and MUFG; help fund merger with Rite Aid Corp.; Boise, Idaho, food and drug retailer.

ALERIS INTERNATIONAL INC.: $1.1 billion covenant-light first-lien term loan (B3/B-) due February 2023 talked at Libor plus 450 bps, 0% Libor floor, OID 99, 101 soft call for six months; Deutsche Bank; redeem notes; Cleveland-based manufacturer and seller of aluminum rolled products.

ALLIANCE HEALTHCARE SERVICES INC.: $100 million add-on term loan talked at Libor plus 450 bps, 1% Libor floor, OID 99, 101 soft call through October; JPMorgan; fund the acquisition of e+CancerCare from Kohlberg & Co. LLC and refinance existing debt; Irvine, Calif., provider of advanced outpatient diagnostic imaging and radiation therapy service.

AMERICAN BATH GROUP LLC: $632 million first-lien term loan due Sept. 30, 2023 (including $50 million incremental) (B2/B) talked at Libor plus 425 bps, 25 bps step-down at 4x net first-lien leverage, 1% Libor floor, OID 99.5 on incremental, 101 soft call for six months; Credit Suisse; fund a distribution to shareholders and repricing; Savannah, Tenn., designer and manufacturer of fiberglass reinforced plastic, sheet molded compound and acrylic bathtubs and showers.

ARAMARK SERVICES INC.: $1.781 billion covenant-light first-lien term loan due March 2025 talked at Libor plus 175 bps, 0% Libor floor, 101 soft call for six months; Credit Suisse; repricing; Philadelphia-based professional services company that provides food, hospitality and facility management services as well as uniform and work apparel.

ARDENT HEALTH PARTNERS LLC: $990 million credit facilities; Barclays, Jefferies and Bank of America; $225 million five-year ABL revolver; $765 million seven-year first-lien term loan (B1/B) talked at Libor plus 425 bps to 450 bps, 1% Libor floor, OID 99 to 99.5, 101 soft call for six months; help refinance existing debt; Nashville, Tenn., owner and operator of hospitals.

ASCENSUS INC.: $200 million incremental first-lien term loan (including $75 million delayed-draw) (B2/B-) due December 2022 talked at Libor plus 350 bps, 1% Libor floor, OID 99.75, 101 soft call through July 19; Credit Suisse; fund tuck-in acquisitions; Dresher, Pa., service provider of retirement and college savings plans.

BI-LO LLC: $1.075 billion credit facilities; Deutsche Bank, SunTrust, RBC and Bank of America; $475 million six-year term B (Caa1/B) at Libor plus 800 bps, 1% Libor floor, OID 96, 101 hard call for two years; $550 million ABL revolver (B1) at Libor plus 125 bps; $50 million ABL FILO term loan (B3) at Libor plus 525 bps; fund exit from Chapter 11 and refinance existing debt; Jacksonville, Fla., supermarket chain.

BLACKHAWK NETWORK HOLDINGS INC.: $2.15 billion senior secured credit facilities; Bank of America (left on first-lien), JPMorgan (left on second-lien), Barclays, Citigroup, Goldman Sachs, Wells Fargo, BMO, Deutsche Bank, Fifth Third, MUFG, RBC and SunTrust; $400 million revolver (B1/B); $1.35 billion seven-year covenant-light first-lien term loan (B1/B) at Libor plus 300 bps, 25 bps step down at 4x gross first-lien leverage, 0% Libor floor, OID 99.5, 101 soft call for six months; $400 million eight-year covenant-light second-lien term loan (Caa1/CCC+) at Libor plus 700 bps, 0% Libor floor, OID 99, 101 hard call; help fund buyout by Silver Lake and P2 Capital Partners; Pleasanton, Calif., financial technology company.

CHG HEALTHCARE SERVICES INC.: Expected closing June 8; $270 million add-on covenant-light first-lien term loan (B2/B) due June 2023 at Libor plus 300 bps, 1% Libor floor, 101 soft call for six months; Jefferies, Goldman Sachs, Barclays and Citigroup; repay second-lien notes; Salt Lake City-based health care staffing firm.

COREL CORP.: $260 million credit facilities (B2/B/BB+); UBS; $10 million revolver; $250 million term loan (B2/B-) talked at Libor plus 500 bps, 0% Libor floor, OID 99, 101 soft call for six months; refinance existing debt and fund a dividend; Ottawa-based software company.

COVIA HOLDINGS CORP.: $1.85 billion senior secured credit facilities (Ba3/BB); Barclays and BNP Paribas; $200 million five-year revolver; $1.65 billion seven-year first-lien term loan at Libor plus 375 bps, step-up to Libor plus 400 bps and step-downs to Libor plus 350 bps and Libor plus 325 bps based on net leverage, 1% Libor floor, 101 soft call for six months; help merger of Unimin Corp. with Fairmount Santrol, refinance some debt at both companies and general corporate purposes; proppant and industrial materials solutions provider.

CPG INTERNATIONAL LLC: $225 million incremental senior secured first-lien term loan (B2) due May 5, 2024 talked at Libor plus 375 bps, 1% Libor floor, OID 99.75, 101 soft call for six months; Jefferies; fund acquisition of Versatex; Skokie, Ill., manufacturer of highly engineered low-maintenance building materials.

DENTAL CORP. OF CANADA INC.: $925 million credit facilities; Jefferies; $50 million revolver (B2/B-); $500 million seven-year first-lien term loan (B2/B-) talked at Libor plus 375 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; $125 million seven-year delayed-draw first-lien term loan (B2/B-) talked at Libor plus 375 bps, 0% Libor floor, OID 99.5; $200 million eight-year second-lien term loan (Caa2/CCC) talked at Libor plus 750 bps, 0% Libor floor, OID 99, call protection 102, 101; $50 million eight-year delayed-draw second-lien term loan (Caa2/CCC) talked at Libor plus 750 bps, 0% Libor floor, OID 99; fund acquisition by L Catterton; network of general and specialist dental clinics in Canada.

EPIC Y-GRADE SERVICES LP: $690 million credit facilities; UBS and Deutsche Bank; $40 million five-year super-priority revolver (Ba3); $650 million seven-year term B (B3/B) talked at Libor plus 500 bps, 0% Libor floor, OID 99, 101 soft call for six months; fund buildout of EPIC Y-Grade Pipeline from the Permian and Eagle Ford Basins to Corpus Christi, Texas.

EVO PAYMENTS INTERNATIONAL: Expected closing mid-June; $659.6 million senior secured covenant-light term B due December 2023 talked at Libor plus 275 bps to 300 bps, 25 bps step-down upon achievement of B1/B+ corporate ratings, 0% Libor floor, 101 soft call for six months; Citigroup; repricing; Atlanta-based payments processor and acquirer for merchants, independent sales organizations, financial institutions, government organizations and multinational corporations.

FIRSTLIGHT FIBER (FLIGHT BIDCO INC.): $520 million credit facilities; UBS, TD Securities, Jefferies, Credit Agricole, Natixis and RBC; $55 million five-year revolver (B2/B-); $375 million seven-year first-lien term B (B2/B-) talked at Libor plus 350 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; $90 million eight-year second-lien term loan (Caa2/CCC) talked at Libor plus 750 bps, 0% Libor floor, OID 99, call protection 102, 101; help fund buyout by Antin Infrastructure Partners from Oak Hill Capital Partners IV; Albany, N.Y., fiber-optic bandwidth infrastructure services provider.

FUSION: $680 million credit facilities; Goldman Sachs, Morgan Stanley and MUFG; $40 million revolver (B3/B); $45 million four-year first-lien term A (B3/B) at Libor plus 500 bps, 1% Libor floor, OID 99.5, 101 soft call for six months; $510 million five-year first-lien term B (B3/B) at Libor plus 750 bps, 1% Libor floor, OID 96, non-call one year, then 101 soft call for months 13 through 24; $85 million 5.5-year second-lien term loan (Caa2/CCC+) at Libor plus 1,050 bps, 1% Libor floor, OID 96, non-call for 18 months, then at 104 for months 19 through 24 and 102 for months 25 through 36; refinance debt in connection with the all-stock merger of Fusion and the Cloud and Business Services customers, operations and infrastructure of Birch Communications; New York-based cloud services provider.

GFL ENVIRONMENTAL INC.: Expected closing May 31; $905 million seven-year senior secured covenant-light term B (including $100 million delayed-draw tranche) (Ba3/BB-) at Libor plus 275 bps, 1% Libor floor, OID 99.75, 101 soft call for six months; Citigroup, RBC, Barclays and BMO; help fund buyout by BC Partners, Ontario Teachers’ Pension Plan and GIC and refinance some existing debt; Vaughan, Ont., waste management services company.

GGP INC.: $7 billion senior secured credit facilities (Ba3); Morgan Stanley, Wells Fargo, Deutsche Bank, RBC, Bank of America, Barclays, HSBC, Sumitomo Mitsui and TD Securities; $1.5 billion revolver; $1.5 billion term A-1; $2 billion term A-2; $2 billion seven-year covenant-light term B at Libor plus 250 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; fund acquisition of all outstanding shares of common stock by Brookfield Property Partners LP; Chicago-based owner, manager, leaser and redeveloper of high-quality retail properties.

GMS INC. (GYP HOLDINGS III CORP.): Expected closing June 1; $996.8 million seven-year first-lien term B (B2/BB-) at Libor plus 275 bps, 0% Libor floor, 101 soft call for six months; Barclays and Credit Suisse; extend existing term B and help fund acquisition of WSB Titan from current management and TorQuest Partners; Tucker, Ga., distributor of wallboard and suspended ceilings systems.

GOODPACK (IBC CAPITAL LTD.): $765 million in senior secured term loans; Morgan Stanley (left on first-lien), Credit Suisse (left on second-lien) and KKR; $595 million five-year covenant-light first-lien term B (B) talked at Libor plus 375 bps to 400 bps, 0% Libor floor, OID 99.5 to 99.75, 101 soft call for six months; $170 million six-year covenant-light second-lien term loan (CCC+) talked at Libor plus 700 bps, 0% Libor floor, OID 99, 101 hard call; refinance existing debt and pay down revolver borrowings; Singapore-based operator of a fleet of nestable and collapsible intermediate bulk containers.

GTT COMMUNICATIONS INC.: $1.77 billion seven-year covenant-light first-lien term loan (B2/B/BB-) at Libor plus 275 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; Credit Suisse, KeyBanc, SunTrust, Goldman Sachs, Morgan Stanley, Citizens and ING; also €750 million seven-year covenant-light first-lien term loan (/B/BB) at Euribor plus 325 bps, 0% floor, OID 99.5, 101 soft call for six months; refinance existing debt and fund acquisition of Interoute; McLean, Va., cloud networking provider.

HEARTHSIDE FOOD SOLUTIONS: $1.295 billion credit facilities (B2/B); Goldman Sachs, Barclays, Nomura, Antares, Credit Suisse, RBC and Jefferies; $150 million revolver; $1.145 billion seven-year senior secured first-lien term loan at Libor plus 300 bps, 0% Libor floor, OID 99.75, 101 soft call for six months; help fund buyout by Charlesbank Capital Partners and Partners Group from Goldman Sachs and Vestar Capital Partners; Downers Grove, Ill., bakery, nutrition bar, snack and customized solutions contract manufacturer for packaged food products.

HOFFMASTER GROUP INC.: $385 million first-lien term loan (B2/B) talked at Libor plus 350 bps to 375 bps, 0% Libor floor, 101 soft call for six months; RBC; repricing; Oshkosh, Wis., producer of specialty disposable tabletop products.

HUNTERSTOWN GENERATION (KESTREL ACQUISITION LLC): $440 million senior secured credit facilities (Ba3/BB); Morgan Stanley and Goldman Sachs; $40 million five-year revolver; $400 million seven-year term B at Libor plus 425 bps, 1% Libor floor, OID 99.5, 101 soft call for six months; fund acquisition by Platinum Equity from GenOn Energy; 810 MW natural gas-fired combined cycle power plant located in Gettysburg, Pa.

HYPERION INSURANCE GROUP LTD.: $923 million covenant-light term B (B) due Dec. 20, 2024 talked at Libor plus 325 bps, 0% Libor floor, 101 soft call for six months; Morgan Stanley, Barclays, JPMorgan, RBC, HSBC and Lloyds; also €250 million covenant-light term loan B (including €50 million add-on) (B) due Dec. 20, 2024 talked at Euribor plus 325 bps to 350 bps, 0% floor, OID 99.75 on add-on; repricing and fund the locked account; London-based insurance intermediary group.

INTERIOR LOGIC GROUP HOLDINGS IV LLC: $400 million seven-year covenant-light term B (B2/B) at Libor plus 400 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; Bank of America, Deutsche Bank, Jefferies, Credit Suisse, RBC and SunTrust; refinance existing debt and pay related fees and expenses in connection with the cashless merger of Littlejohn & Co.’s portfolio company Interior Specialists Inc. LLC and Platinum Equity's portfolio company Interior Logic; Irvine, Calif., provider of design center services and interior finish solutions.

ION TRADING FINANCE LTD.: $2.1 billion equivalent U.S. and euro senior secured incremental covenant-light first-lien term loan (B) at Libor plus 400 bps/Euribor plus 325 bps, 1% floor, OID 99.75, 101 soft call for six months; UBS; help fund acquisition of Fidessa Group plc; also increasing pricing on existing term loans to match incremental pricing; software provider of trading, treasury and workflow solutions.

JBS USA LUX SA: Expected closing May 31; $500 million incremental term loan (Ba3) due Oct. 30, 2022 at Libor plus 250 bps, 0.75% Libor floor, OID 99.04, 101 soft call for six months; Barclays, BMO, RBC, SunTrust and U.S. Bank; repay revolver borrowings and general corporate purposes; Greeley, Colo., animal protein products processing company.

L&W INC. (AUTOKINITON US HOLDINGS INC.): $525 million credit facilities; Goldman Sachs, Bank of America, Barclays, RBC and KKR; $75 million ABL revolver; $450 million seven-year first-lien term loan (B2/B+) at Libor plus 400 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; help fund buyout by KPS Capital Partners LP; New Boston, Mich., automotive supplier specializing in hot and cold metal stampings and welded assemblies.

LAIRD PLC: $1.026 billion credit facilities; Goldman Sachs, Citigroup, Bank of America, HSBC, Lloyds and NatWest; $133 million revolver (B2/B); $750 million seven-year first-lien term loan (B2/B) at Libor plus 450 bps, 0% Libor floor, OID 97, 101 soft call; $143 million privately placed second-lien term loan; help fund buyout by Advent International Corp.; London-based provider of products and technology solutions used in network infrastructure, wireless connectivity, displays and industrial controls.

LAS VEGAS SANDS LLC: $1 billion incremental senior secured term loan B (//BBB) talked at Libor plus 175 bps, 0% Libor floor, OID 99.5 to 99.75; Scotia, Barclays, Bank of America, BNP Paribas, Citigroup and Fifth Third; general corporate purposes; Las Vegas-based developer and operator of integrated resorts.

LIFESCAN GLOBAL CORP.: $1.75 billion in term loans; Bank of America, Deutsche Bank, Goldman Sachs, Jefferies, Credit Suisse, Barclays and RBC; $1.4 billion seven-year covenant-light first-lien term loan (B1/B+) talked at Libor plus 450 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; $350 million eight-year covenant-light second-lien term loan (Caa1/B) talked at Libor plus 850 bps, 0% Libor floor, OID 98.5 to 99, call protection 103, 102, 101; fund buyout by Platinum Equity from Johnson & Johnson; marketer of blood glucose monitoring products with headquarters in Chesterbrook, Pa., and Zug, Switzerland.

LYONS MAGNUS INC.: $210 million covenant-light first-lien term loan (including $15 million incremental) due Nov. 14, 2024 talked at Libor plus 350 bps to 375 bps, 25 bps step-down at 3.35x net first-lien leverage, 1% Libor floor, OID 99.875 on incremental, 101 soft call for six months; RBC; repay second-lien term loan and repricing; developer, manufacturer and marketer of fruit and flavor solutions for the foodservice, healthcare and industrial dairy channels.

NATIONAL RESPONSE CORP.: $345 million credit facilities (B3/B); BNP Paribas; $40 million five-year revolver at Libor plus 525 bps, $308 million six-year covenant-light term B at Libor plus 525 bps, 1% Libor floor, OID 99, 101 soft call for six months; fund merger with Sprint Energy Services LLC, refinance existing debt and fund a dividend; Great River, N.Y., provider of specialized environmental and maritime services.

NORTHSTAR FINANCIAL SERVICES GROUP LLC: $405 million in term loans; Antares, Macquarie and Citizens; $290 million first-lien term loan (B2/B+) at Libor plus 350 bps, 0.75% Libor floor, OID 99.5, 101 soft call for six months; $115 million second-lien term loan (Caa2/CCC+) at Libor plus 750 bps, 0.75% Libor floor, OID 99.5, call protection 102, 101; fund acquisition of FTJ FundChoice LLC; financial services company.

OPTION CARE (HC GROUP HOLDINGS III INC.): $404 million covenant-light term B due April 7, 2022 talked at Libor plus 375 bps to 400 bps, 0% Libor floor, 101 soft call for six months; Bank of America; refinance existing term B; provider of home and alternate treatment site infusion therapy services.

ORTHO-CLINICAL DIAGNOSTICS: $2.675 billion credit facilities (B1/B-); Barclays, Goldman Sachs, JPMorgan, ING, UBS, Credit Suisse, Citigroup, Macquarie, RBS, Bank of Ireland and Nomura; $350 million five-year revolver; $2.325 billion seven-year term B talked at Libor plus 325 bps, step-down to Libor plus 300 bps upon a qualified IPO, 0% Libor floor, OID 99.5 to 99.75, 101 soft call for six months; refinance existing credit facilities; Raritan, N.J., provider of in-vitro diagnostics solutions for screening, diagnosing and monitoring diseases.

PAYSAFE: Roughly $800 million equivalent incremental term loans (B2/B); Credit Suisse; $530 million incremental term loan due January 2025 at Libor plus 350 bps, 1% Libor floor, OID 99.25, 101 soft call through July 3, 2018; €230 million incremental term loan due January 2025 at Euribor plus 325 bps, 0% floor, OID 99.25, 101 soft call through July 3, 2018; help fund acquisition of iPayment Holdings Inc.; Isle of Man-based provider of end-to-end payment solutions.

PERSPECTA INC.: $3.1 billion senior credit facilities (Ba3/BB/BBB-); MUFG, Bank of America, JPMorgan, Mizuho and RBC; $600 million revolver at Libor plus 175 bps; $500 million term A-1 at Libor plus 162.5 bps; $1.5 billion term A-2 at Libor plus 175 bps; $500 million term B at Libor plus 225 bps, 0% Libor floor, OID 99.875, 101 soft call for six months; help fund spin-off from DXC Technology, refinance existing debt and general corporate purposes; mission-enabled, end-to-end IT services and mission solutions provider to government customers.

PLANTRONICS: $1.375 billion secured credit facilities (Ba1/BB); Wells Fargo; $100 million revolver; $1.275 billion seven-year covenant-light term B talked at Libor plus 225 bps to 250 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; help fund acquisition of Polycom, refinance existing debt and general corporate purposes; Santa Cruz, Calif., audio communications company.

PLAYA HOTELS & RESORTS NV: Expected closing June 7; $1.004 billion (including $100 million add-on) covenant-light term B (B2/B+) due April 2024 at Libor plus 275 bps, 1% Libor floor, OID 99.75 on add-on, 101 soft call for six months; Deutsche Bank, Bank of America, Citigroup and Nomura; support acquisition of five all-inclusive resorts from Sagicor Group Jamaica Ltd. and repricing; owner, operator and developer of all-inclusive resorts.

PODS LLC: $841.1 million senior secured covenant-light term B (including $60 million incremental) (B+) due Nov. 21, 2024 talked at Libor plus 275 bps, 1% Libor floor, OID 99.5 to 99.75 on incremental, 101 soft call for six months; Morgan Stanley and Barclays; repricing, support franchise acquisitions and repay revolver borrowings; Clearwater, Fla., provider of storage and moving containers.

REECE GROUP: $1.14 billion seven-year term B (Ba1/BB+) talked at Libor plus 225 bps to 250 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; JPMorgan; help fund acquisition of Morsco from Advent International; Australia-based provider of plumbing, HVAC and waterworks products.

RODAN & FIELDS LLC: Expected closing mid-June; $800 million senior secured credit facilities (B1/BB); Citigroup, Bank of America, JPMorgan, Deutsche Bank, Citizens and MUFG; $200 million five-year revolver; $600 million seven-year covenant-light term B talked at Libor plus 275 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; refinance existing credit facilities and pay a dividend to shareholders; San Francisco-based producer of skincare products.

ROUGH COUNTRY: $77 million add-on first-lien term loan talked at Libor plus 375 bps, 1% Libor floor, OID 99.5; Golub; repay second-lien term loan; Dyersburg, Tenn., supplier of aftermarket suspension lift kits and components to the off road SUV and light truck enthusiast market.

RUSSELL INVESTMENTS: $300 million add-on first-lien term B due June 1, 2023 talked at Libor plus 325 bps, 1% Libor floor, OID 99.05, 101 soft call; Barclays, Credit Suisse and Macquarie; fund a distribution to shareholders; Seattle-based asset manager.

SECURUS TECHNOLOGIES HOLDINGS INC.: $375 million incremental covenant-light first-lien term loan (B2/B) due November 2024 at Libor plus 450 bps, 1% Libor floor, OID 99.75, 101 soft call through Nov. 1, 2018; Deutsche Bank, Bank of America and Goldman Sachs; fund acquisition of Inmate Calling Solutions and repay existing revolver borrowings; Dallas-based provider of advanced inmate communications, investigative technologies and information management solutions to the corrections industry.

SPRINGS WINDOW FASHIONS (SIWF HOLDINGS INC.): Expected closing mid-June; $1.27 billion credit facilities; Barclays, Deutsche Bank and Nomura; $125 million five-year ABL revolver; $860 million seven-year first-lien term loan (B1/B) at Libor plus 425 bps, 0% Libor floor, OID 99, 101 soft call; $285 million eight-year second-lien term loan (Caa1/CCC+) at Libor plus 850 bps, 0% Libor floor, OID 95, call protection 103, 102, 101; help fund buyout by AEA Investors LP and British Columbia Investment Management Corp. from Golden Gate Capital; Middleton, Wis., manufacturer and seller of custom and stock window coverings and drapery hardware.

SRS DISTRIBUTION INC.: $1.73 billion credit facilities; Bank of America, Barclays, UBS, Credit Suisse, Goldman Sachs, Nomura and RBC; $400 million ABL revolver; $1.33 billion seven-year covenant-light term B (B3/B) at Libor plus 325 bps, 25 bps step-down at 0.5x inside closing net first-lien leverage, 0% Libor floor, OID 99.75, 101 soft call for six months; help fund buyout by Leonard Green & Partners LP from Berkshire Partners; McKinney, Texas, roofing products distributor.

TECOMET: $21 million add-on term loan at Libor plus 350 bps, step-down to Libor plus 325 bps at 4x net first-lien leverage, 1% Libor floor; Jefferies; fund an acquisition; Wilmington, Mass., provider of high precision manufacturing solutions serving global medical device and aerospace and defense original equipment manufacturers.

TRANSUNION LLC: $1.8 billion in term loans (Ba2/BB+); Deutsche Bank, RBC, Bank of America and Capital One; $400 million term A due August 2022 talked at Libor plus 175 bps, 0% Libor floor, OID 99.75; $1.4 billion seven-year covenant-light term B-3 talked at Libor plus 225 bps, 0% Libor floor, OID 99.5 to 99.75, 101 soft call for six months; fund acquisitions of Callcredit Information Group Ltd., iovation and Healthcare Payment Specialists; Chicago-based provider of information management and risk management services.

UNITYMEDIA FINANCE LLC: Expected closing early June; $700 million five-year covenant-light term E at Libor plus 200 bps, 25 bps step-up after two years, 0% Libor floor, OID 99.875, 101 soft call for six months; Deutsche Bank, BNP Paribas, Citigroup, Credit Suisse and Goldman Sachs; refinance notes and general corporate purposes; Germany-based provider of cable television, internet, fixed-line telephony and mobile services.

VANTIV LLC: $6.505 billion in term loans (Ba2/BBB-); Morgan Stanley; roughly $3.3 billion term A-5 due Jan. 16, 2023 talked at Libor plus 175 bps, 0% Libor floor; $650 million equivalent GBP term A-6 due Jan. 16, 2023 talked at Libor plus 175 bps, 0% Libor floor; $755 million covenant-light term B-3 due Oct. 14, 2023 talked at Libor plus 175 bps, 0% Libor floor, 101 soft call for six months; talked at Libor plus 175 bps, 0% Libor floor, 101 soft call for six months; repricing; payments technology company.

VERTAFORE INC.: $2.365 billion credit facilities; Nomura, Guggenheim and Macquarie; $100 million five-year revolver (B2/B-); $1.6 billion seven-year first-lien term B (B2/B-) talked at Libor plus 325 bps to 350 bps, 0% Libor floor, OID 99.5, 101 soft call for six months; $665 million eight-year second-lien term loan (Caa2/CCC) talked at Libor plus 700 bps to 725 bps, 0% Libor floor, OID 99, call protection 102, 101; refinance existing debt and fund a distribution to shareholders; Bothell, Wash., provider of software and information to the insurance distribution channel.

VERTEX AEROSPACE SERVICES CORP.: $330 million first-lien seven-year covenant-light term B (B) talked at Libor plus 450 bps to 475 bps, 0% Libor floor, OID 99, 101 soft call for six months; Morgan Stanley, RBC and Deutsche Bank; help fund buyout by American Industrial Partners from L3 Technologies; provider of aviation logistics services, supply chain management, and maintenance, repair and overhaul services.

WYNDHAM WORLDWIDE CORP. (WYNDHAM DESTINATIONS INC.): $300 million seven-year covenant-light term loan (Ba2/BB-/BB+) at Libor plus 225 bps, 0% Libor floor, OID 99.75, 101 soft call for six months; Bank of America, JPMorgan, Barclays, Deutsche Bank, Credit Suisse, Wells Fargo, SunTrust, Scotia, MUFG and U.S. Bank; repay some revolver borrowings; Parsippany, N.J., vacation ownership and exchange company.

YAK MAT LLC: $850 million in term loans; JPMorgan (left on first-lien), Bank of America (left on second-lien), Deutsche Bank, Goldman Sachs, Citigroup and Nomura; $650 million first-lien term B (B2/B) due 2025 talked at Libor plus 375 bps to 400 bps, 0% Libor floor, OID 99, 101 soft call for six months; $200 million second-lien term loan (Caa1/CCC+) due 2026 talked at Libor plus 775 bps to 800 bps, 0% Libor floor, OID 98.5, call protection 102, 101; fund acquisition of a 50.1% stake by Platinum Equity; East Columbia, Miss., specialty equipment leasing and logistics company focused on temporary access solutions to remote construction sites and energy infrastructure.

ZEBRA TECHNOLOGIES CORP.: Expected closing May 31; $825 million senior secured covenant-light term B due Oct. 27, 2021 at Libor plus 175 bps, 0.75% Libor floor, 101 soft call for six months; Morgan Stanley and JPMorgan; repricing; Lincolnshire, Ill., provider of marking and printing technologies.

On The Horizon

8POINT3 ENERGY PARTNERS LP: $1.16 billion in loans; MUFG, Massachusetts Mutual, KeyBanc and Commonwealth Bank of Australia; $1.1 billion term loan; up to $60 million letter of credit facility; help fund acquisition by Capital Dynamics Inc.; San Jose, Calif.-based owner, operator and acquirer of solar energy generation projects.

ALTRA INDUSTRIAL MOTION CORP.: $1.64 billion senior secured credit facilities; Goldman Sachs; $300 million revolver; $1.34 billion in term loans; help fund combination with four operating companies from Fortive’s Automation and Specialty platform; Braintree, Mass., designer, producer and marketer of a wide range of electromechanical power transmission and motion-control products.

BMC SOFTWARE: New debt financing; Credit Suisse, Goldman Sachs, Jefferies, Macquarie and Mizuho; help fund buyout by KKR from investor group led by Bain Capital Private Equity and Golden Gate Capital; Houston-based provider of software solutions for the digital enterprise.

BOYD GAMING CORP.: Incremental debt financing; fund acquisition of Valley Forge Casino Resort in King of Prussia, Pa., from Valley Forge Convention Center Partners LP; Las Vegas-based owner and operator of gaming entertainment properties.

CISCO SERVICE PROVIDER VIDEO SOFTWARE SOLUTIONS: New debt financing; Bank of America; help fund buyout by Permira; developer and deliverer of video solutions for the Pay-TV industry.

COHU INC.: $350 million seven-year senior secured term B; Deutsche Bank; help fund acquisition of Xcerra Corp.; Poway, Calif., supplier of semiconductor test and inspection handlers, micro-electro mechanical system test modules, test contactors and thermal sub-systems.

DANA INC.: $250 million incremental term A; Credit Suisse, Barclays, and Citigroup; help fund acquisition of the Driveline division of GKN plc to create Dana plc; supplier of drivetrain, sealing and thermal-management technologies.

DEL FRISCO’S RESTAURANT GROUP INC.: $440 million senior secured credit facilities; JPMorgan and Citizens; $50 million revolver; $390 million term loan; fund acquisition of Barteca Restaurant Group; Irving, Texas, restaurant company.

ELECTRICAL COMPONENTS INTERNATIONAL INC.: New debt financing; Barclays, Credit Suisse, Goldman Sachs and RBC; help fund buyout by Cerberus Capital Management LP from KPS Capital Partners LP; St. Louis-based manufacturer of wire harnesses, control boxes, and value-added assembly services for consumer appliance and specialty-industrial applications.

ENERGIZER HOLDINGS INC.: $1.75 billion senior secured credit facilities; JPMorgan and Barclays; $400 million revolver; $200 million term A; $1.15 billion term B; help fund acquisition of Spectrum Brands’ Global Battery and Portable Lighting Business, refinance existing credit facility and provide working capital; St. Louis-based manufacturer of primary batteries and portable lighting products.

FINANCIAL ENGINES: $2.055 billion credit facilities; Morgan Stanley, JPMorgan, Barclays, Deutsche Bank and UBS; $150 million revolver; $1.41 billion in first-lien term loans; $495 million second-lien term loan; help fund buyout by Hellman & Friedman and combination with Edelman Financial Services; Sunnyvale, Calif., independent investment advisor.

HALO BRANDED SOLUTIONS: New debt financing; Antares; help fund buyout by TPG Growth; Sterling, Ill., marketing services platform that distributes promotional products and provides employee recognition services.

KINDRED HEALTHCARE INC.: $2.975 billion senior secured credit facilities; JPMorgan, Morgan Stanley, Citigroup, Goldman Sachs, Bank of America, Capital One, RBC and Wells Fargo; $280 million revolver, $1.36 billion first-lien term loan, $475 million second-lien term loan to Kentucky Homecare Holdings Inc.; $450 million asset-based loan facility, $410 million term loan to Kentucky Hospital Holdings LLC; help fund buyout by TPG Capital, Welsh, Carson, Anderson & Stowe and Humana Inc.; Louisville, Ky., healthcare services company.

LUMENTUM HOLDINGS INC.: $550 million seven-year senior secured covenant-light term B expected at Libor plus 250 bps, 25 bps step-down at 0.5 times inside closing first-lien net leverage, 0% Libor floor, OID 99.5, 101 soft call for six months; Deutsche Bank; help fund acquisition of Oclaro Inc.; Milpitas, Calif., provider of photonics products for optical networking and lasers for industrial and consumer markets.

MARVELL TECHNOLOGY GROUP LTD.: $1.4 billion credit facilities; Goldman Sachs and Bank of America; $900 million term loan; $500 million revolver; help fund acquisition of Cavium Inc.; Hamilton, Bermuda, provider of storage, networking and connectivity solutions.

MGM GROWTH PROPERTIES LLC: New debt financing; help fund acquisition of Hard Rock Rocksino Northfield Park from Milstein Entertainment LLC; Las Vegas-based real estate investment trust engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts.

MITEL: $1.48 billion senior secured credit facilities; Credit Suisse, BMO and TD Securities; $100 million revolver; $1.02 billion first-lien term loan; $360 million second-lien term loan; help fund buyout by Searchlight Capital Partners LP; Ottawa-based provider of communications software solutions.

PCI GAMING AUTHORITY (WIND CREEK HOSPITALITY): New debt financing; Credit Suisse; help fund acquisition of Sands Casino Resort in Bethlehem, Pa., from Las Vegas Sands Corp.; owner and operator of gaming and entertainment facilities.

PENN NATIONAL GAMING INC.: $1.14 billion in incremental senior secured term loans; Bank of America, Goldman Sachs, Fifth Third, U.S. Bank, Wells Fargo, Citizens, SunTrust and TD Securities; $387.2 million incremental term A; $752.8 million incremental term B; help fund acquisition of Pinnacle Entertainment Inc.; Wyomissing, Pa., owner and manager of gaming and racing facilities and video gaming terminal operations.

POLARIS INDUSTRIES INC.: Bank debt; help fund acquisition of Boat Holdings LLC; Medina, Minn., powersports company.

RPX CORP.: $260 million senior secured credit facilities; Jefferies; $20 million five-year revolver expected at Libor plus 600 bps, 0% Libor floor; $240 million six-year term loan expected at Libor plus 600 bps, 0% Libor floor, 101 soft call; help fund buyout by HGGC; San Francisco-based provider of patent risk and discovery management solutions.

STANDARD MEDIA GROUP LLC: New debt financing; RBC; fund acquisition of nine television stations from Sinclair Broadcast Group Inc.; broadcast television company.

STARS GROUP INC.: $5.5 billion credit facilities; Deutsche Bank, Goldman Sachs, Macquarie and Morgan Stanley; help fund acquisition of Sky Betting & Gaming from CVC Capital Partners and Sky plc, and refinance debt; Toronto-based provider of technology-based products and services in the gaming and interactive entertainment industries.

TENNECO: $4.9 billion credit facilities; JPMorgan and Barclays; $1.5 billion five-year revolver; $1 billion five-year term A; $2.4 billion seven-year term B; help fund acquisition of Federal-Mogul from Icahn Enterprises LP and refinance existing debt; Lake Forest, Ill., designer, manufacturer and marketer of ride performance and clean air products and systems for automotive and commercial vehicle original equipment markets and the aftermarket.

THOMSON REUTERS’ FINANCIAL & RISK: New debt financing; JPMorgan, Bank of America and Citigroup; help fund acquisition of a 55% stake by Blackstone, Canada Pension Plan Investment Board and GIC; data and financial technology platform.

T-MOBILE USA INC.: $11 billion senior secured credit facilities; Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley, RBC, BNP Paribas, Commerzbank, Credit Agricole, TD Securities and Wells Fargo on revolver; Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley and RBC on term loan; $4 billion five-year revolver expected at Libor plus 125 bps, 0% Libor floor; $7 billion seven-year covenant-light term loan expected at Libor plus 175 bps, 0% Libor floor, 101 soft call for six months; refinance existing debt in connection with merger with Sprint Corp. and fund working capital needs; Bellevue, Wash., communications services company.

VERIFONE SYSTEMS INC.: $2.2 billion senior secured credit facilities; Credit Suisse, Barclays and RBC; $250 million revolver; $1.95 billion term loan; help fund buyout by investor group led Francisco Partners; San Jose, Calif., company that makes secure electronic payment equipment.

VETS FIRST CORP.: New debt financing; fund a special dividend in connection with spinoff of animal health business from Henry Schein Inc. and merger with Vets First Choice; animal health service and technology platform dedicated to supporting the veterinary market.


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