Daily News: June 14, 2013

BofA Business Capital Arranges Doncasters ABL

Bank of America Business Capital expanded its presence in the United Kingdom and Europe by closing a £110 million asset-based revolving credit facility for Doncasters Group.

Through its London office, Bank of America Business Capital acted as sole arranger and joint bookrunner (left) on the ABL. In addition, Bank of America Merrill Lynch acted as joint lead arranger and joint bookrunner on an $876 million equivalent seven-year first lien term loan and a $290 million seven and a half-year second lien term loan. Contingent hedging and treasury solutions were also structured as part of the transaction.

Doncasters Group is an international engineering group that manufactures precision components and assemblies for the aerospace, industrial gas turbines, specialist automotive, petrochemical, construction, industrial, transportation and recreation markets.