Bank Loan Calendar: $31.7102 billion deals being marketed

April Bank Meetings

IMAGEFIRST HOLDINGS LLC: Lender call April 8; $310 million of credit facilities; Antares and KeyBanc; $50 million revolver; $210 million covenant-lite first-lien term loan; $50 million delayed-draw covenant-lite first-lien term loan; refinance existing first-lien credit facilities; King of Prussia, Pa., provider of outsourced laundry and textile rental services.

QUIKRETE HOLDINGS INC.: Lender call April 8; $1.5 billion seven-year incremental covenant-lite term B (BB-), 101 soft call for six months; Wells Fargo; fund acquisition of Forterra Inc.; Atlanta-based buildings materials company.

RUSSELL INVESTMENTS US INSTITUTIONAL HOLDCO INC.: Lender call April 8; roughly $407 million senior secured incremental first-lien term B due May 2025, 1% Libor floor, 101 soft call for six months; Barclays, Macquarie and Credit Suisse; refinance an existing term loan due 2023 and fund a one-time distribution to shareholders; Seattle-based asset manager.

Upcoming Closings

AECOM: $500 million seven-year term B (Baa3/BBB-) talked at Libor plus 200 bps, 0% Libor floor, OID 99; BofA Securities; fund notes tender offer; Los Angeles-based infrastructure consulting firm.

ARCLIGHT NGPL HOLDINGS LLC (AL NGPL HOLDINGS LLC): $400 million seven-year senior secured term loan (Ba3/B+) talked at Libor plus 400 bps to 425 bps, 1% Libor floor, OID 99 to 99.5, 101 soft call for six months; Barclays, Goldman Sachs, MUFG and Natixis; help fund acquisition by ArcLight Capital Partners of a 25% stake in NGPL Holdings LLC from Kinder Morgan Inc. and Brookfield Infrastructure Partners LP; natural gas pipeline system.

CORELOGIC: $4.75 billion of term loans; JPMorgan, Wells Fargo, Ares, BofA Securities, Truist, Credit Suisse, KKR, Golub, RBC, Capital One, U.S. Bank, BMO, Citizens, Fifth Third, KeyBanc, Macquarie, Nomura, MUFG, Stifel and SPC; $4 billion seven-year first-lien term B (B1/B) talked at Libor plus 350 bps to 375 bps, 0.5% Libor floor, OID 99 to 99.5, 101 soft call for six months; $750 million second-lien term loan (Caa1/CCC+); help fund buyout by Stone Point Capital and Insight Partners; Irvine, Calif., property information, analytics and data-enabled solutions provider.

CORNERSTONE ONDEMAND INC.: Expected closing April 19 week; $832.2 million covenant-lite first-lien term B (Ba3/B+) due April 22, 2027 at Libor plus 325 bps, 0% Libor floor, issue price par, 101 soft call for six months; Morgan Stanley, BofA Securities, Credit Suisse, Deutsche Bank, Jefferies and BMO; repricing; Santa Monica, Calif., people development company.

FRONTIER COMMUNICATIONS CORP.: $1.5 billion exit term loan (including $225 million add-on) (B3) talked at Libor plus 375 bps to 400 bps, 0.75% Libor floor, OID 99; JPMorgan; general corporate purposes and repricing; Norwalk, Conn., telecommunications company.

HIGHTOWER HOLDING LLC: $750 million of term loans (B2); JPMorgan; $600 million seven-year term B; $150 million delayed-draw term loan; refinance existing debt and general corporate purposes; Chicago-based registered investment adviser that owns and provides a suite of mission critical services to independent advisory practices.

HUNTER FAN CO.: $458 million credit facilities (B2/B); Credit Suisse; $33 million revolver; $425 million seven-year covenant-lite first-lien term loan talked at Libor plus 450 bps to 475 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; refinance existing debt and fund a shareholder distribution; Memphis, Tenn., designer and distributor of fans.

INGRAM MICRO INC.: $2 billion seven-year term B (B1/BB-/BB) at Libor plus 350 bps, 0.5% Libor floor, OID 99, 101 soft call for six months; JPMorgan, BofA Securities, Morgan Stanley, BNP Paribas, Citigroup, Wells Fargo, BMO, MUFG, PNC, Deutsche Bank, Barclays, Credit Suisse, HSBC, Mizuho, RBC, Scotia, ING, Societe Generale and Stifel; help fund buyout by Platinum Equity from HNA Technology Co. Ltd. and refinance existing debt; Irvine, Calif., provider of technology logistics services and solutions.

INSTANT BRANDS HOLDINGS INC.: $450 million seven-year first-lien term loan (Ba3/B) at Libor plus 500 bps, 0.75% Libor floor, OID 99, 101 soft call for one year; Jefferies, BofA Securities, Citigroup, RBC, BBVA, BMO and Truist; refinance existing debt and fund a distribution to shareholders; manufacturer of kitchen and houseware brands.

J&J VENTURES GAMING LLC: $635 million credit facilities (B2/B); Credit Suisse, BofA Securities and Fifth Third; $60 million revolver; $575 million seven-year first-lien term loan at Libor plus 400 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; refinance existing debt and fund acquisitions; operator of video gaming terminals in Illinois.

KISSNER (SCIH SALT HOLDINGS INC.): $1.175 billion senior secured credit facilities (B3/B); Morgan Stanley, BofA Securities, Deutsche Bank, BMO, Goldman Sachs, Citigroup, Citizens, Credit Suisse, JPMorgan, KKR and RBC; $275 million incremental revolver due March 2025; $900 million incremental covenant-lite first-lien term B due March 2027 talked at Libor plus 375 bps to 400 bps, 0.75% Libor floor, OID 99 to 99.5, 101 soft call for six months; help fund acquisition of K+S AG’s Americas salt business and refinance existing debt; Overland Park, Kan., pure-play producer and supplier of salt.

LOGOPLASTE (MAR BIDCO SARL): $300 million seven-year covenant-lite term B talked at Libor plus 425 bps to 450 bps, 0.5% Libor floor, OID 99.5, 101 soft call for six months; Goldman Sachs, BNP Paribas, Barclays, Credit Suisse, ING, Mizuho and Rabobank; also €440 million seven-year covenant-lite term B talked at Euribor plus 400 bps to 425 bps, 0% floor, OID 99.5, 101 soft call for six months; €80 million equivalent GBP pre-placed term loan; help fund buyout by Ontario Teachers’ Pension Plan Board from Carlyle Group; Portugal-based designer and manufacturer of rigid plastic packaging solutions.

MICHAELS COS. INC.: $2.8 billion senior secured credit facilities; Credit Suisse, Barclays, Wells Fargo, Deutsche Bank, RBC, Mizuho, BofA Securities, Truist, Citizens, Jefferies, BMO, BNP Paribas and Goldman Sachs; $1 billion ABL revolver; $1.8 billion seven-year covenant-lite first-lien term loan (Ba3/B) talked at Libor plus 425 bps to 450 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; help fund buyout by Apollo Global Management Inc.; Irving, Tex., retailer of arts and crafts supplies and home decor products.

N-ABLE INC.: $425 million credit facilities; JPMorgan; $75 million revolver; $350 million seven-year term B talked at Libor plus 350 bps to 375 bps, 0.5% Libor floor, OID 99.5, 101 soft call for six months; repay existing debt and general corporate purposes in connection with spinoff from SolarWinds; Wakefield, Mass., provider of cloud-based software solutions for managed service providers.

NUTRISYSTEM INC. (KNS ACQUISITION CORP.): $657 million of term loans; Deutsche Bank, Nomura, Jefferies, BNP Paribas and Rabobank; $557 million seven-year covenant-lite term B (B1/B) talked at Libor plus 525 bps, 0.75% Libor floor, OID 98 to 98.5, 101 soft call for six months; $100 million privately placed second-lien term loan; fund acquisition of Adaptive Health; Fort Washington, Pa., provider of weight loss and wellness programs.

OB HOSPITALIST GROUP: Roughly $117 million of term loans; Antares; $100 million incremental first-lien term loan talked at Libor plus 425 bps, 1% Libor floor, OID 99.27; roughly $17 million pre-placed incremental second-lien term loan; fund a shareholder dividend; Greenville, S.C.-based OB/GYN provider.

OECONNECTION: $150 million of term loans (B2/B-); Antares; $75 million incremental first-lien term loan talked at Libor plus 400 bps, 0% Libor floor, OID 98.79; $75 million pre-placed delayed-draw first-lien term loan; fund an acquisition; Cleveland-based provider of SaaS solutions that help drive genuine original equipment parts sales and services across the entire automotive system.

ONE CALL CORP.: $700 million first-lien term loan B (B1/B-) at Libor plus 550 bps, 0.75% Libor floor, OID 98, 101 hard call for two years; JPMorgan, Wells Fargo, Jefferies, CIT, KKR and Blackstone; refinance existing debt; Jacksonville, Fla., healthcare network management company and provider of specialized solutions to the workers’ compensation industry.

ORGANON & CO.: $3 billion equivalent of term loans (Ba2/BB); JPMorgan, Morgan Stanley, BofA Securities, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs and HSBC; $2 billion seven-year term loan talked at Libor plus 300 bps, 0.5% Libor floor, OID 99 to 99.5, 101 soft call for six months; $1 billion equivalent euro seven-year term loan talked at Euribor plus 300 bps, 0% floor, OID 99 to 99.5, 101 soft call for six months; help fund the creation of the company through the spin-off of Merck’s women’s health, legacy brands and biosimilars businesses; Jersey City, N.J.-based pharmaceutical company that develops and delivers health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands.

PACIFIC DENTAL SERVICES LLC: $850 million credit facilities (B1/B); BNP Paribas, BofA Securities, JPMorgan, KeyBanc and MUFG; $250 million revolver; $600 million seven-year term B talked at Libor plus 375 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; refinance existing bank debt and general corporate purposes; Irvine, Calif., provider of management services to affiliate dental practices.

PETIQ LLC: $425 million credit facilities; Jefferies and KeyBanc; $125 million five-year ABL revolver; $300 million seven-year senior secured first-lien term loan (B3/B-) at Libor plus 425 bps, 0.5% Libor floor, OID 99, 101 soft call for six months; partially refinance existing debt; Eagle, Idaho, pet medication and wellness company.

PRIORITY TECHNOLOGY HOLDINGS INC. (PRIORITY HOLDINGS LLC): $630 million senior secured credit facilities (B2/B-); Truist; $40 million five-year revolver; $300 million six-year covenant-lite term B talked at Libor plus 525 bps to 550 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; $290 million delayed-draw term loan talked at Libor plus 525 bps to 550 bps, 0.75% Libor floor, OID 99; help fund acquisition of Finxera Holdings Inc. and refinance existing debt; Alpharetta, Ga., payments technology company.

RADNET MANAGEMENT INC.: $870 million credit facilities (B1/B); Barclays; $195 million five-year revolver; $675 million seven-year term B talked at Libor plus 325 bps to 350 bps, 0.75% Libor floor, OID 99 to 99.5, 101 soft call for one year; refinance existing credit facilities and general corporate purposes; Los Angeles-based owner and operator of outpatient diagnostic imaging centers.

RSA SECURITY LLC: $2 billion of term loans; JPMorgan (left on first-lien), Morgan Stanley (left on second-lien), Goldman Sachs, UBS, BofA Securities, Barclays and Jefferies; $1.114 billion seven-year first-lien term loan (B1/B) talked at Libor plus 450 bps to 475 bps, 0.75% Libor floor, OID 99; $436 million delayed-draw first-lien term loan (B1/B) talked at Libor plus 450 bps to 475 bps, 0.75% Libor floor, OID 99; $286 million eight-year second-lien term loan (Caa1/B-) talked at Libor plus 775 bps to 800 bps, 0.75% Libor floor, OID 98.5; $164 million delayed-draw second-lien term loan (Caa1/B-) talked at Libor plus 775 bps to 800 bps, 0.75% Libor floor, OID 98.5; support a new equity investment from Clearlake Capital Group LP; Bedford, Mass., provider of mission critical cybersecurity software and governance risk and compliance management software solutions to enterprises.

SAVERS INC.: $600 million first-lien term loan (B2/B) talked at Libor plus 575 bps to 600 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; KKR, Jefferies and Credit Suisse; help fund buyout by Ares from Crescent Capital Group LP; Bellevue, Wash., thrift store chain.

SOUND UNITED: $380 million seven-year first-lien term B (B2/B) talked at Libor plus 475 bps to 500 bps, 0.75% Libor floor, OID 99, 101 soft call for six months; BofA Securities and KKR; refinance existing debt; Vista, Calif., manufacturer and retailer of audio equipment.

SPENCER SPIRIT: $359 million covenant-lite term B due June 2026 talked at Libor plus 500 bps, 0% Libor floor, issue price par, 101 soft call for six months; Guggenheim and Wells Fargo; repricing; Egg Harbor Township, N.J., specialty retailer focused on lifestyle accessories and specialized Halloween merchandise.

SUBCOM: $730 million six-year first-lien term loan (B1/B) talked at Libor plus 475 bps to 500 bps, 25 bps step-down at 3.05x net first-lien leverage, 0.75% Libor floor, OID 99, 101 soft call for six months; Goldman Sachs, Citigroup, Barclays, Credit Suisse, Jefferies, Morgan Stanley and MUFG; fund a dividend to shareholders; Eatontown, N.J., provider of turnkey subsea fiber optic networks.

TENEO: Expected closing late May; $150 million incremental first-lien term loan (B2/B) due July 2025 at Libor plus 525 bps, 1% Libor floor, OID 99.25, 101 soft call for six months; Goldman Sachs; fund acquisition of Deloitte UK’s restructuring services business; New York-based CEO advisory firm.

TI GROUP AUTOMOTIVE SYSTEMS: $300 million term B (Ba3/BB+) talked at Libor plus 350 bps, 0.5% Libor floor, OID 99 to 99.5; JPMorgan; help refinance existing bank debt; Oxford, U.K., provider of fluid storage, carrying and delivery systems to automotive manufacturers.

TORY BURCH: $600 million term B (Ba2/BB-) talked at Libor plus 325 bps to 350 bps, 0.5% Libor floor, OID 99, 101 soft call for six months; UBS, JPMorgan, BofA Securities, Morgan Stanley, HSBC and MUFG; refinance existing debt and fund an equity tender offer; retailer of clothing, shoes and accessories.

On The Horizon

AGGREKO PLC: £1 billion equivalent senior credit facilities; Bank of America, Barclays, Deutsche Bank, Goldman Sachs and Banco Santander; £300 million multicurrency revolver; £700 million equivalent U.S. dollar denominated five-year term loan expected at Libor plus 450 bps, two step-downs of 25 bps each based on 0.5x deleveraging from opening leverage, 0.5% Libor floor, 101 soft call for six months; help fund buyout by TDR Capital LLP and I Squared Capital; U.K.-based provider of mobile power, heating and cooling solutions.

ALASKA COMMUNICATIONS SYSTEMS GROUP INC.: $235 million senior secured credit facilities; Fifth Third; $35 million revolver; $200 million of term loans; help fund acquisition by a newly formed entity owned by ATN International Inc. and Freedom 3 Capital LLC; Anchorage provider of advanced broadband and managed IT services.

ALLIED UNIVERSAL: $950 million seven-year covenant-lite first-lien term loan expected at Libor plus 425 bps; Credit Suisse, Morgan Stanley, Deutsche Bank, BNP Paribas, HSBC, Mizuho, Societe Generale, ING, MUFG and Truist; also €715,447,155 seven-year covenant-lite first-lien term loan expected at Euribor plus 475 bps; €300 million five-year revolver expected at Libor plus 425 bps; help fund acquisition of G4S plc; Santa Ana, Calif., provider of security services.

ANI PHARMACEUTICALS INC.: $340 million credit facilities; Truist; $40 million revolver; $300 million term B; help fund acquisition of Novitium Pharma and refinance existing senior credit facilities; Baudette, Minn., specialty pharmaceutical company.

BOINGO WIRELESS INC.: New debt financing; Truist, TD Securities and CIT; help fund buyout by Digital Colony Management LLC; Los Angeles-based distributed antenna system and Wi-Fi provider.

CABINETWORKS GROUP: New debt financing; BofA Securities; help fund buyout by Platinum Equity from American Industrial Partners, GIC and other equity holders; Ann Arbor, Mich., manufacturer and distributor of kitchen and bath cabinets.

CALABRIO: New debt financing; Golub; help fund buyout by Thoma Bravo from KKR; Minneapolis-based provider of products and services to help companies streamline customer service, support and workforce management through cloud-first software systems.

CAREMAX INC.: New senior secured credit facilities; RBC; help fund formation through acquisitions of CareMax Medical Group LLC and IMC Medical Group Holdings LLC by Deerfield Healthcare Technology Acquisitions Corp.; technology-enabled care platform providing care and chronic disease management to seniors.

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.

COLUMBUS MCKINNON CORP.: Up to $710 million credit facilities; JPMorgan; $60 million five-year revolver expected at Libor plus 325 bps, 0.75% Libor floor; up to $650 million seven-year covenant-lite first-lien term loan expected at Libor plus 425 bps, 0.75% Libor floor, 101 soft call for six months; help fund acquisition of Dorner Manufacturing Corp. from EQT and refinance existing term B; Getzville, N.Y., designer, manufacturer and marketer of intelligent motion solutions, products, technologies and services for material handling.

CORDIS: New debt financing; Deutsche Bank and UBS; help fund buyout by Hellman & Friedman from Cardinal Health; developer and manufacturer of interventional vascular technology.

CUBIC CORP.: $2.5 billion senior secured credit facilities; Barclays, Credit Suisse, PSP, BMO, KKR, Mizuho, RBC, Truist and Blackstone; $225 million revolver; $1.475 billion first-lien term B; $300 million first-lien term C; $175 million letter of credit facility; $325 million second-lien term loan; help fund buyout by Veritas Capital and Evergreen Coast Capital Corp.; San Diego-based provider of integrated solutions that increase situational understanding for transportation, defense C4ISR and training customers.

DIRECTV: New debt financing; help fund creation of joint venture owned by AT&T and TPG Capital through spin-off of DirecTV, AT&T TV and U-verse services from AT&T Inc.; video services company.

DOLE PLC (TOTAL PRODUCE PLC): New five-to-seven-year debt facilities; BofA Securities, Rabobank and Goldman Sachs; refinance existing Total Produce and Dole Food Co. Inc. debt in connection with merger of the companies; Dublin, Ireland, fresh produce company.

EXTENDED STAY AMERICA INC.: New debt financing; JPMorgan and Citigroup; help fund buyout by Blackstone Real Estate Partners and Starwood Capital Group; Charlotte, N.C., integrated hotel owner/operator.

FLY LEASING LTD.: New debt financing; RBC; help fund buyout by Carlyle Aviation Partners; Dublin-based aircraft leasing company.

GFL ENVIRONMENTAL INC.: Incremental debt financing; help fund acquisition of Terrapure Environmental Ltd.’s solid waste and environmental solutions business; Toronto-based waste management company.

GOGO INC.: $825 million senior secured credit facilities; Morgan Stanley, Credit Suisse and Deutsche Bank; $100 million five-year revolver; $725 million seven-year term loan; repay notes and refinance asset-based revolver; Chicago-based provider of broadband connectivity services for the business aviation market.

GRAY TELEVISION INC.: $925 million incremental term loan; Wells Fargo; fund acquisition of Quincy Media Inc.; Atlanta-based television broadcast company.

HILTON GRAND VACATIONS INC.: $1.3 billion seven-year senior secured term B expected at Libor plus 250 bps, 0.5% Libor floor, 101 soft call for six months; BofA Securities, Deutsche Bank and Barclays; help refinance existing debt in connection with acquisition of Diamond Resorts International Inc.; Orlando, Fla., timeshare company.

II-VI INC.: New debt financing; JPMorgan; help fund acquisition of Coherent Inc.; Saxonburg, Pa., manufacturer of engineered materials and optoelectronic components.

INW|INNOVATIONS IN NUTRITION + WELLNESS: New debt financing; UBS, KKR, Jefferies and Citizens; help fund already completed buyout by Cornell Capital LLC from Rosewood Private Investments and acquisition of Bee Health; Carrollton, Tex., provider of nutritional and wellness products.

JAZZ PHARMACEUTICALS PLC: $3.65 billion senior secured credit facilities; BofA Securities and JPMorgan; $500 million revolver; $3.15 billion term B; help fund acquisition of GW Pharmaceuticals plc; Dublin, Ireland, biopharmaceutical company.

MCAFEE ENTERPRISE (MAGENTA BUYER LLC): New debt financing; UBS, Jefferies and BofA Securities; help fund buyout by Symphony Technology Group; provider of device-to-cloud cybersecurity solutions.

PROSIGHT GLOBAL INC.: $230 million credit facilities; Truist; $65 million revolver; $165 million term loan; help fund buyout by TowerBrook Capital Partners LP and Further Global Capital Management; Morristown, N.J., specialty insurance company.

SPARTA AGGREGATOR LP: New debt financing; help fund acquisition of PQ Group Holdings Inc.’s performance chemicals business by Koch Minerals & Trading LLC and Cerberus Capital Management LP.

SYNIVERSE: New debt financing; help refinance existing debt in connection with investment by Twilio Inc.; Tampa, Fla., provider of technology and business services for the telecommunications industry.

WHEEL PROS INC.: New debt financing; Deutsche Bank, Credit Suisse, Jefferies, KKR, UBS and Wells Fargo; refinance existing capital structure; Denver-based distributor of proprietary branded wheels and performance tires.

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