Bank Loan Calendar: $22.419 billion deals being marketed

October Bank Meetings

QUIRCH FOODS LLC: Lender call Oct. 6; $675 million credit facilities; RBC; $475 million first-lien term B; $200 million ABL revolver; help fund acquisition of Colorado Boxed Beef Co. from Altamont Capital Partners; Coral Gables, Fla., specialty protein supplier.

Upcoming Closings

AHEAD DB HOLDINGS: $1.135 billion credit facilities; RBC, Deutsche Bank, Barclays, KKR, Macquarie, Truist, Regions and TD Securities; $115 million revolver (B1); $785 million seven-year first-lien term loan (B1) talked at Libor plus 450 bps, 1% Libor floor, OID 98.5, 101 soft call for six months; $235 million privately placed second-lien term loan (Caa1); help fund buyout by Centerbridge Partners LP from Court Square Capital Partners; Chicago-based IT solution provider of enterprise hardware and software.

AMERICAN RESIDENTIAL SERVICES: $470 million first-lien term B (B1/B) talked at Libor plus 375 bps to 400 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; JPMorgan, Jefferies, KKR and Ares; help fund acquisition of a majority stake by GI Partners; Memphis, Tenn., provider of residential heating, ventilation, air conditioning and plumbing services.

ARRAY TECHNOLOGIES: $575 million seven-year first-lien term B (B1/B+) talked at Libor plus 375 bps to 400 bps, 0.5% Libor floor, OID 98.5, 101 soft call for six months; Goldman Sachs, Barclays, Nomura, MUFG, Credit Suisse, Guggenheim and UBS; fund a dividend; Albuquerque, N.M., manufacturer of ground-mounting systems used in solar energy projects.

ASP NAVIGATE ACQUISITION CORP.: $485 million credit facilities (B2/B-); Jefferies, Keybank, Goldman Sachs and ING; $60 million five-year revolver; $425 million seven-year first-lien term loan at Libor plus 450 bps, 25 bps step-down at 0.5x inside closing first-lien net leverage, 1% Libor floor, OID 98.5, 101 soft call for six months; help fund American Securities LLC’s buyout of NN Inc.’s Life Sciences division; designer and manufacturer of high-precision components, assemblies, and instruments for the medical and life sciences end market.

BALDWIN RISK PARTNERS LLC (BRP GROUP INC.): $800 million senior secured credit facilities (B2/B); JPMorgan; $400 million revolver due 2025; $400 million first-lien term B due 2027 talked at Libor plus 400 bps to 425 bps, 0.75% Libor floor, OID 98.5; refinance existing revolver and general corporate purposes; Tampa, Fla., insurance distribution firm.

BRIGHTSPRING HEALTH SERVICES (PHOENIX GUARANTOR INC.): $550 million senior secured covenant-lite term B (B1/B) due March 5, 2026 talked at Libor plus 375 bps to 400 bps, 0.5% Libor floor, OID 99, 101 soft call for six months; Morgan Stanley and KKR; finance future acquisitions and fund cash to the balance sheet; Louisville, Ky., health care services provider.

CAMBIUM LEARNING GROUP: $575 million of term loans; RBC, Deutsche Bank, KKR, Macquarie, Barclays and BMO; $425 million incremental first-lien term loan due December 2025 talked at Libor plus 450 bps, 0% Libor floor, OID 98, 101 soft call for six months; $150 million incremental second-lien term loan due December 2026 talked at Libor plus 850 bps, 1% Libor floor, OID 97, hard call 102, 101; help fund the acquisition of Rosetta Stone Inc.; Dallas-based education technology platform.

CONSOLIDATED COMMUNICATIONS INC.: Expected closing Oct. 2; $1.5 billion senior secured credit facilities (B2/B+); JPMorgan, Morgan Stanley, Goldman Sachs, TD Securities, Wells Fargo and Deutsche Bank; $250 million five-year revolver; $1.25 billion seven-year term B at Libor plus 475 bps, 1% Libor floor, OID 98.5, 101 soft call for six months; help refinance existing debt; Mattoon, Ill., broadband and business communications provider.

FLY LEASING LTD.: $180 million five-year senior secured term B (Ba3/BBB-) talked at Libor plus 525 bps to 550 bps, 1% Libor floor, OID 96 to 97, non-call one; RBC; general corporate purposes and to potentially repay notes; Dublin-based aircraft lessor.

FRONTIER COMMUNICATIONS CORP.: $1.125 billion credit facilities; JPMorgan, Goldman Sachs, Deutsche Bank, Barclays, Morgan Stanley and Credit Suisse; $625 million exit revolver; $500 million seven-year DIP-to-exit term loan term B (B3/B+/BB+) at Libor plus 475 bps, 1% Libor floor, OID 98.5, 101 soft call for six months; help fund exit from bankruptcy by paying off pre-petition notes; Norwalk, Conn., telecommunications company.

GENESYS: $3.35 billion equivalent of term loans (B3/B-); BofA Securities, Goldman Sachs, Citigroup, RBC, Wells Fargo and Credit Suisse; $2.825 billion seven-year term B talked at Libor plus 400 bps to 425 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; $525 million euro equivalent seven-year term B talked at Euribor plus 400 bps to 425 bps, 0% floor, OID 98, 101 soft call for six months; refinance existing debt and fund a dividend; Daly City, Calif., provider of omnichannel customer experience and contact center solutions.

GOLDEN STATE MEDICAL SUPPLY: $120 million add-on first-lien due June 2026 talked at Libor plus 475 bps, 0% Libor floor, OID 99; Truist; fund a dividend; Camarillo, Calif., generic pharmaceutical supplier.

HIGHTOWER HOLDING LLC: $185 million of term loans; Antares; $130 million incremental first-lien term loan due Jan. 31, 2025 talked at Libor plus 500 bps, 1% Libor floor, OID 98.5, 101 soft call for six months; $20 million incremental first-lien delayed-draw term loan talked at Libor plus 500 bps, 1% Libor floor, OID 98.5; $35 million incremental second-lien term loan; fund acquisitions; Chicago-based registered investment advisor.

INFOBLOX INC.: $1.945 billion senior secured credit facilities; Morgan Stanley, Credit Suisse, Barclays, Deutsche Bank, Goldman Sachs, BofA Securities, Jefferies, Macquarie, UBS and Mizuho; $200 million revolver (B2/B-/B-); $1.29 billion seven-year covenant-lite first-lien term B (B2/B-/B-) talked at Libor plus 400 bps, 0.75% Libor floor, OID 99 to 99.5, 101 soft call for six months; $455 million eight-year covenant-lite second-lien term loan (Caa2/CCC/CCC) talked at Libor plus 775 bps, 0.75% Libor floor, OID 98.5 to 99, hard call 102, 101; fund the acquisition of a 50% equity stake in the company by Warburg Pincus and refinance existing debt; Santa Clara, Calif., provider of core networking and cybersecurity solutions.

OXBOW CARBON: $400 million five-year term B (B1/BB-) talked at Libor plus 425 bps to 450 bps, 0.75% Libor floor, OID 98.5, 101 soft call; BofA Securities, JPMorgan, Rabobank, Truist, Capital One and Citizens; refinance existing debt; West Palm Beach, Fla., recycler of refinery and natural gas byproducts.

PAE HOLDING CORP.: $890 million seven-year term B (including $150 million delayed-draw tranche) (B2/B) talked at Libor plus 450 bps, 0.75% Libor floor, OID 98.5; BofA Securities, Citizens, Truist, Morgan Stanley and Stifel; refinance existing debt and acquisition financing; Falls Church, Va., provider of support services for the U.S. government, its allied partners and international organizations.

PCI PHARMA SERVICES (PACKAGING COORDINATORS MIDCO INC.): $1.345 billion credit facilities; Jefferies, Credit Suisse, Deutsche Bank and Antares; $125 million five-year revolver (B2/B-); $920 million seven-year senior secured first-lien term loan (B2/B-) at Libor plus 375 bps, 25 bps step-down at 0.5x inside closing first-lien net leverage and 25 bps step-down based on an IPO, 0.75% Libor floor, OID 99.5, 101 soft call for six months; $300 million privately placed eight-year senior secured second-lien term loan; help fund buyout by Kohlberg & Co. from Partners Group, Thomas H. Lee Partners and Frazier Healthcare Partners; Philadelphia-based provider of outsourced pharmaceutical services.

PRESS GANEY (AZALEA TOPCO INC.): $180 million incremental first-lien term loan (B) due July 25, 2026 at Libor plus 400 bps, step-down to Libor plus 375 bps at 5.25x first-lien net leverage, 0.75% Libor floor, OID 99, 101 soft call for six months; Barclays; fund a portion of the purchase price of two acquisitions; South Bend, Ind., provider of patient experience measurement and performance improvement solutions to health care organizations.

RED VENTURES LLC: $400 million incremental senior secured first-lien term loan (B1/B+/BB) talked at Libor plus 300 bps to 325 bps, 0.5% to 0.75% Libor floor, OID 98; BofA Securities; help fund acquisition of CNET Media Group from ViacomCBS; Fort Mill, S.C., portfolio of digital brands.

REVINT SOLUTIONS: $705 million credit facilities (B3/B-); Goldman Sachs, Deutsche Bank, Jefferies, Barclays and KeyBanc; $75 million revolver; $630 million seven-year term B talked at Libor plus 425 bps, 0.75% Libor floor, OID 98.5, 101 soft call for six months; fund the acquisition of and merger with Triage Consulting Group and refinance existing Revint debt; Plano, Texas, provider of revenue integrity and recovery services to hospitals and health systems.

SOUTHERN VETERINARY PARTNERS LLC: $665 million credit facilities; Jefferies; $30 million five-year revolver (B2/B-); $435 million seven-year senior secured first-lien term loan (B2/B-) at Libor plus 400 bps, 1% Libor floor, OID 99, 101 soft call; $60 million delayed-draw first-lien term loan (B2/B-) at Libor plus 400 bps, 1% Libor floor, OID 99; $140 million eight-year senior secured second-lien term loan (Caa2/CCC) at Libor plus 775 bps, 1% Libor floor, OID 99, hard call 102, 101; refinance existing capital structure; Birmingham, Ala., provider of general practice veterinary services.

UNITEDLEX: $110 million term loan at Libor plus 575 bps, 0% Libor floor, OID 97, 101 soft call; Macquarie and BNP Paribas; closed in March to repay existing credit facility, partially repay a shareholder loan, make a payment to the prior sellers and provide cash to the balance sheet; Overland Park, Kan., legal outsourcing services provider.

VANDER-BEND MANUFACTURING INC.: $197.5 million credit facilities; Goldman Sachs; $20 million revolver; $177.5 million first-lien term B; refinance existing debt and fund acquisition of Swiss Precision Machining; San Jose, Calif., provider of prototyping, precision manufacturing and assembly solutions to medical technology OEMs and other high growth, recession-resistant sectors.

WCG PURCHASER CORP.: $125 million incremental first-lien term loan due Jan. 8, 2027 talked at Libor plus 400 bps, 1% Libor floor, OID 98 to 98.6, 101 soft call through January 2021; Barclays; fund tuck-in mergers and acquisitions and general corporate purposes; Princeton, N.J., provider of clinical trial optimization solutions.

WHEELABRATOR TECHNOLOGIES INC. (GRANITE ACQUISITION INC.): $1.3965 billion term B (including $72.5 million incremental, $1.324 billion extended) due Sept. 19, 2022 talked at Libor plus 375 bps, 1% Libor floor, OID 99.5 on incremental; Deutsche Bank, Barclays, Citizens, Credit Suisse, JPMorgan and RBC; amendment and extension; Portsmouth, N.H., owner and operator of waste-to-energy facilities and independent power-producing facilities.

WHITE CAP (APPLECARAMEL BUYER LLC): $2.335 billion seven-year covenant-lite first-lien term B (B2/B) talked at Libor plus 400 bps to 425 bps, 0.5% Libor floor, OID 99, 101 soft call for six months; Deutsche Bank, RBC, Jefferies, BNP Paribas, Credit Suisse, Goldman Sachs, Mizuho and Nomura; help fund buyout by Clayton, Dubilier & Rice from HD Supply Holdings Inc. and combination with Construction Supply Group; distributor of concrete accessories, and specialty construction and safety products.

On The Horizon

1-800 CONTACTS INC.: New term loans; Morgan Stanley (left on first-lien), KKR (left on second-lien) and Jefferies; first-lien term loan; second-lien term loan; help fund buyout by KKR from AEA Investors; Draper, Utah, seller of contact lenses.

ADTALEM: $1.4 billion senior secured credit facilities; Morgan Stanley, Barclays, Credit Suisse and MUFG; $400 million five-year revolver expected at Libor plus 375 bps, two 25 bps step-downs based on first-lien net leverage, 0% Libor floor; $1 billion seven-year covenant-lite first-lien term B expected at Libor plus 400 bps, two 25 bps step-downs based on first-lien net leverage, 0.5% Libor floor, 101 soft call for six months; help fund acquisition of Walden University from Laureate Education Inc. and refinance Adtalem’s existing credit agreement; Chicago-based workforce solutions provider.

ADVANTAGE SALES & MARKETING INC.: $2.5 billion senior secured credit facilities; BofA Securities, Morgan Stanley and Deutsche Bank; $400 million asset-based revolver; $2.1 billion term loan; refinance existing debt in connection with acquisition by Conyers Park II Acquisition Corp.; Irvine, Calif., provider of outsourced sales and marketing services to consumer goods manufacturers and retailers.

ANCESTRY: New debt financing; Credit Suisse and BofA Securities; help fund buyout by Blackstone from Silver Lake, GIC, Spectrum Equity, Permira and other equity holders; Lehi, Utah, provider of digital family history services and consumer genomics.

CINCINNATI BELL INC.: $1.6 billion senior secured credit facilities; Goldman Sachs, Regions Capital and Societe Generale; $250 million revolver; $1.35 billion of term loans; help fund acquisition by Macquarie Infrastructure Partners; Cincinnati-based provider of integrated communications solutions.

GARRETT MOTION INC.: New exit financing; Citigroup, UBS, Credit Suisse and BNP Paribas; help fund acquisition by KPS Capital Partners LP through Chapter 11; Rolle, Switzerland, provider of passenger vehicle, commercial vehicle, aftermarket replacement and performance enhancement solutions.

VIRTUSA CORP.: New debt financing; BofA Securities; help fund buyout by Baring Private Equity Asia; Southborough, Mass., provider of digital strategy, digital engineering, and IT services and solutions that help clients change and disrupt markets.

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