0RICINGûISûBPûOVERû,IBORûWITHûAûûmOORû
ANDûAûDISCOUNTûOFûûAFTERûCIRCULATINGûATû
BPûOVERû,IBORûWITHûAûûmOORûANDûAû
DISCOUNTûOFû
The term loan includes one year of soft
CALLûPROTECTIONûATûûANDûISûSCHEDULEDûTOû
AMORTISEûATûûPERûYEARû4HEûTRANSACTIONû
includes a total net leverage ratio covenant.
#ORPORATEûRATINGSûAREû""û4HEûLOANûISû
RATEDû""
WALKER & DUNLOP TO REFI DEBT#OMMERCIALûREALûESTATEûlNANCIALûSERVICESû
lRMûWALKER & DUNLOPûISûARRANGINGûAû53Mû
SEVEN
YEARûTERMûLOANûTOûRElNANCEûDEBT
Wells Fargo is leading with JP Morgan.
!NûASSETûCOVERAGEûRATIOûCOVENANTûOFûû
times will be included. The term loan will
have six months of soft call protection at
ûANDûAMORTISEûATûûPERûYEAR
The corporate ratings are expected to be
"A""ûWHILEûTHEûLOANûISûEXPECTEDûTOûBEû
RATEDû"A""
#ONSTRUCTIONûPRODUCTSûMAKERûPLY GEM
HOLDINGSûISûINûTHEûMARKETûWITHûAû53Mû
INCREMENTALûLOANûDUEûINû!PRILûûTOû
support its merger with metal products
COMPANYû.#)û"UILDINGû3YSTEMS
Credit Suisse is leading with JP Morgan, Royal
Bank of Canada, UBS, Barclays, Bank of America
Merrill Lynch, Deutsche Bank, Goldman Sachs,
Credit Agricole, Jefferies, MUFG, Natixis, Societe
Generale and US Bank.
0LYû'EMûISûCIRCULATINGûGUIDANCEûOFûBPû
OVERû,IBORûWITHûAûûmOORûANDûAûDISCOUNTûOFû
0LYû'EMûHASûANûEXISTINGû53BNûTERMû
loan that backed its buyout by private
EQUITYûlRMû#LAYTONû$UBILIERûû2ICEû4HEû
company arranged the loan in March and
PRICEDûTHEûDEBTûATûBPûOVERû,IBORûWITHûAû
ûmOOR
0ETROLEUMûRElNERûDELEK US HOLDINGS is
looking to shave 25bp off the pricing of its
53MûTERMûLOANûDUEûINû-ARCHû
Wells Fargo leads.
The company is guiding the new price at
BPûOVERû,IBORûWITHûAûûmOORû4HEû
transaction will refresh soft call protection
OFûûFORûSIXûMONTHS
$ELEKûINû-ARCHûARRANGEDûAû53MûTERMû
LOANûATûAûPRICEûOFûBPûOVERû,IBORûANDûAûû
mOORûTOûRElNANCEûDEBT
4HEûISSUERûISûRATEDû"A"" ûANDûTHEûLOANûISû
RATEDû""""n
Medical scribing company HEALTHCHANNELS
ISûINûTHEûMARKETûWITHûAû53MûADD
ONûTOû
lNANCEûITSûPURCHASEûOFûMEDICALûSCRIBEû
provider PhysAssist. Jefferies is leading.
The add-on is expected to be issued at a
DISCOUNTûOFûûANDûWILLûCARRYûTHEûSAMEûTERMSû
as the existing loan.
)Nû-ARCH û(EALTH#HANNELSûLINEDûUPûAû
53MûTERMûLOANûTOûBACKûAûDIVIDENDû
RECAPITALISATIONû4HEûLOANûPRICEDûATûBPû
OVERû,IBORûWITHûAûûmOOR
The company is backed by Vesey Street
#APITALû0ARTNERSAMYNTA SETS FINAL TERMSInsurance specialist AMYNTA GROUPûSETûlNALû
terms on a repricing loan.
0RICINGûISûBPûOVERû,IBOR ûDOWNûFROMû
BPû4HEû53MûLOANûWASûUPSIZEDûBYû
ABOUTû53M
The existing portion of the loan was
issued at par and the new portion was sold
ATû
Any additional proceeds from the
transaction will be placed into an
acquisition account.
The company, which offers speciality
property and casualty insurance, was
FORMEDûAFTERûPRIVATEûEQUITYûlRMû-ADISONû
$EARBORNû0ARTNERSûPURCHASEDûAûûSTAKEûINû
!M4RUSTû&INANCIALû3ERVICESûFEEûBUSINESSES û
which was rebranded as Amynta.
Bank of America Merrill Lynch led the
lNANCING
GLOBAL PAYMENTSûHASûSETûlNALûTERMSûONûAû
53MûSEVEN
YEARûTERMûLOANûITûWILLûUSEûTOû
pay down a portion of outstanding
borrowings under its revolving line of
credit.
0RICINGûISûBPûOVERû,IBORûFORûTHEûLOAN û
HAVINGûBEENûGUIDEDûATûBP
BPû)TûSOLDû
ATûAûDISCOUNTûOFû
BAML led the covenant-lite loan.
4HEûDEBTûWILLûAMORTISEûATûûANNUALLY û
which will be due in quarterly installments.
4HEûCOMPANYûISûRATEDû"A""
Online survey platform SURVEYMONKEY has
WRAPPEDûUPûAû53MûTERMûLOAN
Pricing on the seven-year term loan
lNALISEDûATûBPûOVERû,IBORûWITHûAûûmOOR û
THEûTIGHTûENDûOFûINITIALûGUIDANCEûOFûBP
BPû4HEûLOANûSOLDûATûûAû/)$ûANDûHASû
ûSOFTûCALLûPROTECTIONûFORûSIXûMONTHS
JP Morgan LEDûTHEûlNANCING ûWHICHûALONGû
with some proceeds from an IPO will be
USEDûTOûRElNANCEûANûEXISTINGû53MûTERMû
LOANûTHATûMATURESûINû
The pro forma leverage is estimated at 5.2
TIMES ûACCORDINGûTOû-OODYS
2ATINGSûAREû""
ûFORûCORPORATEûANDû"" û
for the facility.
#OMMERCIALûFOODûSERVICEûEQUIPMENTû
manufacturer WELBILT has completed a
53MûTERMûLOAN
7ELBILTûISûPAYINGûBPûOVERû,IBORûWITHûAû
ûmOORû)TûWASûISSUEDûATûAûDISCOUNTûOFûû
ANDûHASûûSOFTûCALLûPROTECTIONûFORûSIXû
months.
Proceeds from the seven-year term loan
WILLûBEûUSEDûTOûRElNANCEûANû53MûLOANû
and to pay down a portion of a revolving
line of credit.
JP Morgan LEDûTHEûlNANCING%XISTINGûCORPORATEûRATINGSûAREû"""
ûANDû
"""
ûFORûTHEûFACILITYNEXSTAR WRAPS TERM LOANMedia company NEXSTAR BROADCASTING set
lNALûTERMSûONûAû53BNûTERMûLOAN
Pricing on the covenant-lite loan, which
MATURESûINû ûISûBPûOVERû,IBORûATûPARû
WITHûAûûmOOR
3OFTûCALLûPROTECTIONûOFûûWILLûBEûRESETûFORû
six months.
Proceeds from the loan, along with a term
loan A increase, will be used to reprice and
partially pay down the existing term loan B.
Bank of America Merrill Lynch, Credit Suisse,
Deutsche Bank, SunTrust, Barclays and Wells
FargoûARRANGEDûTHEûlNANCING
#ORPORATEûRATINGSûAREû"""
ûANDû"A"" û
for the facility.
HYLAND SOFTWARE accelerated timing on a
53MûADD
ONûTOûITSûlRST
LIENûLOANûANDûAû
53MûADD
ONûTOûITSûSECOND
LIENûLOAN
Proceeds will back a dividend.
At the same time, the business software
company is looking to extend the maturity
ONûTHEûlRST
LIENûLOANûBYûTWOûYEARSûTOû*ULYû
û4HEûSECOND
LIENûLOANûWILLûREMAINûDUEû
INû
In exchange for the additional debt,
Hyland is offering to increase the spread on
both tranches by 25bp.
#OMMITMENTSûAREûNOWûDUEûONû-ONDAYû
instead of Wednesday. Credit Suisse leads
alongside Goldman Sachs and UBS.
4HEûlRST
LIENûTRANCHEûWILLûTOTALû53BNû
while the second-lien tranche totals
53MûFOLLOWINGûTHEûADD
ONS
4HEûlRST
LIENûLOANSûPRICINGûWILLûBEû
INCREASEDûTOûBPûOVERû,IBORûFROMûBPû
OVERûWITHûAûûmOORûANDûAûDISCOUNTûOFû
û0RICINGûONûTHEûSECOND
LIENûLOANûWILLû
INCREASEûTOûBPûOVERû,IBORûFROMûBPû
OVERûWITHûAûûmOORûANDûAûDISCOUNTûOFû
The transaction will refresh soft call
PROTECTIONûOFûûFORûSIXûMONTHSûONûTHEûlRST
LIENûDEBTûANDûHARDûCALLûPROTECTIONûOFûû
on the second-lien loan.
Hyland is sponsored by private equity
lRMû4HOMAû"RAVO
UNIVERSAL HOSPITAL SERVICES, to be renamed
AGILITI HEALTH ûSETûlNALûTERMSûONûAû53Mû
seven-year delayed-draw term loan B.
0RICINGûISûBPûOVERû,IBORûWITHûAûSTEPû
DOWNûTOûBPûWHENûNETûSENIORûSECUREDû
LEVERAGEûISûLESSûTHANûûTIMESû)TûHADû
PREVIOUSLYûOFFEREDûBPû4HEREûISûAûûmOOR
4HEûLOANûWASûISSUEDûWITHûAûû/)$û
FROMûTHEûORIGINALûOFFERûOFûû3IXûMONTHSûOFû
ûSOFTûCALLûPROTECTIONûREMAINSûUNCHANGED
-OST
FAVOUREDûNATIONûSTATUSûOFûBPûWILLû
BEûSETûFORûûMONTHSûVERSUSûTHEûPROPOSEDû
BPûFORûSIXûMONTHS
JP Morgan LEDûTHEûlNANCING