Daily News: April 27, 2015

White Oak Completes Six Q1 Deals Totaling $182.7MM

  • White Oak Global Advisors has recently provided financing support in six transactions: (except where noted, White Oak served as administrative agent and sole lender in each transaction shown)
  • $38.5 million senior secured term loan to a specialty trucking and logistics company. Proceeds were used to refinance existing indebtedness and provide working capital.
  • $45.0 million asset-based loan to a San Diego, CA-based producer and distributor of consumer electronics to Latin America. The ABL is being used to purchase television components and to support related letters of credit.
  • $11.7 million delayed draw (under an existing senior secured facility) to a club-based airline operator located in the Western U.S. Proceeds are being used to expand the company’s growing fleet with several additional new aircraft.
  • $47.0 million senior secured financing to a specialty retailer of wireless voice and data communications services in the Midwest and Western regions.
  • Proceeds facilitated the acquisition of a competitor to expand the company’s coverage across the Southeast, Atlantic Seaboard, and Texas. White Oak served as co-lender and provided both a term loan and an asset based loan for this transaction.

  • $28.5 million senior secured term loan to FL-based integrated biopharmaceutical firm. The company is largely focused on biodefense, such as developing and manufacturing vaccines against flu and Ebola, under contracts with the National Institutes of Health, the Department of Defense (DoD) and other government and related entities. White Oak’s financing is being used to support completion of an advanced flexible biologics production facility, which the company is building pursuant to a long-term contract with the DoD.
  • $12.0 million delayed draw (under an existing senior secured facility) to a leading mobile products distributor. The company provides asset recovery, sourcing and fulfillment, and distribution services for new and used phones, tablets, and accessories. Proceeds were used to purchase inventory to be refurbished.
  • San Francisco, CA-based White Oak Global Advisors is an SEC-registered investment adviser that directly originates private debt financings to middle market companies to support growth initiatives. White Oak’s product suite includes asset-based secured term loans, cash flow based term loans, unitranche facilities, rescue and debtor-in-possession (DIP) financings, in/out of court restructurings, acquisition and capital expenditure facilities and other structured finance instruments. With $1.7 billion of invested and committed capital, White Oak has made over 80 direct debt investments in companies with enterprise values between $50 million and $1 billion. The company has offices in New York, Dallas and Denver.