Deal Charts

ABL Deal Chart 2008 Q3

Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 7/1/08 through 9/30/08.

LENDER(S) & ROLE BORROWER & INDUSTRY AMOUNT* STRUCTURE & NOTES
Catalyst Paper Corp
Producer/Specialty Papers, Newsprint
CIT Business Credit Canada/JPMorgan Chase Bank
Co-Lead Arrangers
C$330.0 Revolver
Five-year term/CIT Business Credit Canada: agent/Replaces previous C$350MM facility
Office Depot Inc
Retailer/Office Productss
JPMorgan Chase/Bank of America
Admin Agent, Collateral Agent/Syn Agent
1300.0 Revolver
Citibank, Wachovia, GE were documentation agents/Replaces previous facility
United Rentals Inc
Provider/Equipment Rentals
Bank of America Business Capital
Co-Agent
1300.0 Revolver
Banc of America Securities led the syndication
Vistar Corporation
Distributor/Food Products
Wachovia Capital Finance
Co-Lead Arranger, Administrative Agent
1100.0 Revolver
Genesee & Wyoming Inc
Operator/Short Line, Regional Railroads
Bank of America
Sole Lead Arranger, Admin Agent
570.0 $300MM Revolver/$270MM Term Loans
Five-year term/Supports Ohio Central Railroad System acquisition
Wabtec Corp
Provider/Rail, Transit Technology Products, Services
PNC Capital Markets, JP Morgan Securities, RBS Greenwich Capital
Co-Lead Arrangers
500.0 Revolver/Term Loan
Supports acquisition of Standard Car Truck
Maxim Crane Works LP 
Provider/Crane Rentals
Wachovia Capital Finance
Lead Arranger, Administrative Agent
500.0 Revolver
Henry Schein Inc
Distributor/Healthcare Products, Services
JPMorgan Securities
Lead Arranger, Sole Bookrunner
400.0 Revolver
Maturity: September 2013
Media Rights Capital
Operator/Film, TV, Digital Studio
JPMorgan Chase/Comerica Bank
Admin Agent/Collateral Agent
350.0 Revolver
Three-year term/BofA, Union Bank, Citibank, RBS, CIT, U.S. Bank, City National Bank, First California Bank participated
Pediatrix Medical Group Inc
Provider/Neonatal, Pediatric Physician Subspecialty Services
Wachovia Bank/Bank of America/U.S. Bank
Admin Agent/Syn Agent/Doc Agent
350.0 Revolver
Five-year term/Wachovia Capital Markets: joint lead arranger, sole bookrunner/Banc of America Securities: joint lead arranger
Bally Technologies Inc
Provider/Slots, Video Machines, Casino Management Systems
Bank of America Securities/Wells Fargo/The Bank of Nova Scotia/Wachovia
Joint Lead Arrangers, Joint Book Managers
300.0 $75MM Revolver/$225MM Term Loan
Four-year term/Refinances existing term loan
Perfumania Holdings Inc
Retailer/Fragrances
GE Capital
Lender
250.0 Revolver
Supports acquisition of Model Reorg
Crusader Energy Group Inc
Provider/Oil, Gas
JPMorgan Chase Bank 
Administrative Agent
250.0 Second Lien Term Facility
Five-year term/Replaces existing $30MM second lien term facility with UnionBanCal Equities
Vision Logistics Holding Corp
Provider/Oil, Gas Transportation Services
CIT Group
Lender
190.0 Revolver
Supports reorganization
Entertainment One Ltd 
Provider/Entertainment Content
JP Morgan
Lead Lender
150.0 Revolver
Bank of America, Barclays and Toronto Dominion Bank also participated
Federated Investors Inc
Investment Manager
PNC Bank 
Agent, Lender
140.0 Term Loan
Three-year term
Angelica Corp
Provider/Textile Rental, Linen Mgt Services
Regions Business Capital
Lead Arranger, Admin Agent, Sole Bookrunner
138.0 $100MM Revolver/$38MM Term Loan
Supports Angelica Corp acquisition by Lehman Brothers Merchant Banking
Selig Sealing Products Inc
Manufacturer/Cap, Closure Lining Materials
GE Commercial Finance
Lead Arranger
125.0 Revolver
Supports Unipac acquisition/Madison Capital Funding, BMO Capital Markets participated
Arcadia Gas Storage LLC
Operator/Salt Dome Natural Gas Storage
CIT Energy
Sole Lead Arranger
125.0 Revolver
YORK Label
Provider/Pressure Sensitive Labels
American Capital
Co-syndication Agent, Lead Investor
110.0 Senior Debt/Mezzanine Debt
Supports acquisition by Diamond Castle Holdings
Wall Street Systems Inc
Provider/Treasury, Trading, Settlement Solutions
Wells Fargo Foothill
Lender
105.0 Revolver
Golub Capital participated
Mahalo Energy Ltd
Producer/Natural Gas
Ableco Finance
Lender
105.0 $65MM Revolver/$40MM Term Loans
Four-year term
Vantage Oncology Inc
Operator/Radiation Oncology Centers
Ares Capital
Lead Arranger
100.0 Term Loan
Supports future acquisitions
Covenant Transportation Group Inc
Holding Company/Transportation Providers
Bank of America/JPMorganChase/Textron Financial
Lead Lenders
85.0 Revolver
Redcorp Ventures Ltd
Provider/Mineral Exploration, Development
HSBC Bank Canada 
Lender
85.0 Non-Revolving Loan
Replaces previous $64MM facility from HSBC Bank Canada
Zeledyne LLC
Manufacturer/Auto, Commercial Glass
Wachovia Capital Finance
Co-Lead Arranger, Syndication Agent
80.0 Revolver
Intelligent Decisions Inc
Provider/IT Solutions
GE Capital Solutions, Commercial Distribution Finance
Lender
75.0 Credit Line
The Schumacher Group
Provider/Emergency Medicine Management
GE Healthcare Financial Services
Sole Lead Arranger, Sole Bookrunner, Administrative Agent
75.0 Revolver
Sport Chalet Inc
Operator/Sporting Goods Chain
Bank of America Business Capital
Lender
70.0 Revolver
Petro Resources Corp
Operator/Oil, Natural Gas Company
CIT Energy
Sole Lead Arranger 
65.0 $50MM Revolver/$15MM Second Lien Term Loan
Supports payoff of debt from Williston Basin acquisition
Petro Resources Corp
Producer/Oil, Natural Gas
CIT Capital Securities
Sole Lead Arranger, Sole Bookrunner
65.0 $50MM Revolver/$15MM Second Lien Term Loan
Torqued-Up Energy Services Inc
Provider/Oilfield Services
PNC Bank
Lender
60.0 Revolver
Supports acquisition of Cougar Pressure Control
Hercules Technology Growth Capital Inc
Provider/Venture Debt, Equity
Wells Fargo Foothill Lender Finance
Arranger
50.0 Revolver
Delta Rigging & Tools Inc
Provider/Wire Rope, Rigging, Lifting Equipment
CIT 
Lead Arranger
50.0 Revolver
Supports acquisition by Austin Ventures
EnerJex Resources Inc
Provider/Oil, Natural Gas
Texas Capital Bank
Lender
50.0 Revolver
Three-year term
UMA Enterprises Inc
Importer/Home Decor Products
GMAC Commercial Finance
Documentation Agent
48.0 Revolver
Supports acquisition by Long Point Capital
Pocket Communications
Provider/Wireless, Voice Data Services
CIT Group
Lead Arranger
45.0 Revolver
CIT Communications Media & Entertainment: agent
The NutraSweet Co
Producer/Aspartame
Bank of America Business Capital
Lender
40.0 $25MM Revolver/$15MM Term Loan
Refinances existing debt
GameTech International Inc
Manufacturer/Computerized Gaming Equipment
U.S. Bank, Bank of the West
Agent, Lender/Lender
40.0 Revolver
Refinances existing corporate debt
Big M Inc
Retailer/Women's Apparel
Bank of America Business Capital
Lender
40.0 Revolver
Refinances existing debt
Kinergy Marketing LLC
Provider/Ethanol Marketing
Wachovia Capital Finance
Agent, Lender
40.0 Revolver
Three-year term/Wachovia Capital Markets was sole lead arranger, bookrunner
Norwood Promotional Products Inc
Supplier/Promotional Products
Wachovia Capital Finance
Sole Lender
40.0 Revolver
APAC Customer Services, Inc
Provider/Customer Care Services
PNC Bank
Lender
40.0 Revolver
VantaCore Partners LP
Buyer/Aggregate Businesses
Wells Fargo Foothill and Gladstone Capital
Lender
39.0 First, Second Lien Loans
Supports Southern Aggregates acquisition
Papyrus
Retailer/Greeting Cards, Stationery, Gifts
Wells Fargo Retail Finance
Lender
35.0 Revolver
Aircell LLC
Provider/Airborne Communications
Scotia Capital, Goldman Sachs, Credit Suisse
Arrangers
35.0 Term Loan
Prime Healthcare Services Inc
Operator/Acute Care Hospitals
Healthcare Finance Group
Lender
34.0 Revolvers
Supports acquisition of four hospitals
Geotrace Technologies Inc
Provider/Oil, Gas Reservoir Services Solutions
Steel City Capital Funding
Lender
30.0 $12MM Revolving Credit Line/$18MM Term Loan
Cyalume Light Technologies Inc
Provider/Safety Training Products
TD Banknorth
Lender
30.0 $5MM Revolver/$20MM Term Loan/$5MM Mortgage Loan
Revolver; Three-year term/Term, mortgage loan: Five-year terms
McGregor Golf Co
Manufacturer/Golf Clubs, Apparel
Wachovia Capital Finance
Sole Lender
30.0 Revolver
South Texas Shrimp Processors Inc
Processor/Shrimp
Wachovia Capital Finance
Sole Lender
30.0 Revolver/Term Loan
Bluegreen Corp
Provider/Colorful Places to Live and Play
Wells Fargo Foothill
Lender
30.0 Revolving Credit Line
Facility matures on December 31, 2010
Southern California Pizza Co
Operator/Restaurants
CIT Group
Joint Lead Arranger
29.3 Revolver/Term Loan
Supports acquisition of 123 Pizza Hut restaurants/Deal Source: Sentinel Capital Partners
North American Propane Inc
Operator/Energy Companies
Sovereign Business Capital
Lender
29.2 $25MM Revolving Credit Line/$2.7MM Term Loan/$1.5MM Equipment Credit Line
Banner Aerospace Holding Company I Inc
Distributor/Aircraft Parts
PNC Bank
Lender
28.0 Revolver
Refinances existing facility/Supports acquisition
Poniard Pharmaceuticals Inc
Provider/Biopharmaceuticals
GE Healthcare, Silicon Valley Bank
Lenders
27.6 Term Loan
Term: 42 months
Mitcham Industries Inc
Supplier/Geophysical Equipment
First Victoria National Bank
Lender
25.0 Revolver
Two-year term
Fraser Papers Inc
Producer/Packaging, Printing Papers
Canadian Imperial Bank of Commerce
Lender
25.0 Term Loan
One-year term
Winnebago Industries Inc
Manufacturer/Motor Homes, Products
Wells Fargo Bank
Lender
25.0 Revolver
Two-year term
AirNet Systems Inc
Provider/Air Charters, Transportation Services
PNC Bank 
Lender
25.0 Revolver
Supports acquisition by Bayside Capital
AFS Technologies Inc
Provider/Food, Beverage Software
Wells Fargo Foothill
Arranger
25.0 Revolver
CIBC Capital Partners, Ticonderoga Capital provided $13MM in equity/Supports acquisitions
Great Expressions Dental Centers Inc
Manager/Dental Practices
GMAC Structured Finance - Health Capital Group
Structurer, Underwriter, Agent
23.5 Revolver
Supports acquisition by The Audax Group
iWeb Group Inc
Provider/IP Hosting Services 
Goldman Sachs Credit Partners
Lender
22.0 Revolver
Omeros Corp
Developer/Inflammation, Central Nervous System Products
BlueCrest Capital Finance
Lender
20.0 Term Loan
Two-year term
Davis Calibration Services
Provider/Calibration, Repair, Certification Services
Golub Capital
Lender
20.0 $4MM Revolver/$16MM Term Loan
Supports company recap/Deal Source: JPB Enterprises
Parlux Fragrances Inc
Manufacturer/Prestige Products
Regions Bank
Lender
20.0 Revolver
Two-year term
Magic Circle Corp
Manufacturer/Dixie Chopper Lawn Mowers
PNC Bank
Lender
20.0 Revolver
Refinances existing debt
New England Confectionery Co
Manufacturer/Candy
CORE Business Credit
Lender
19.2 Revolver
Supports seasonal working capital needs
Zogenix Inc
Provider/Specialty Pharmaceuticals
Oxford Finance, CIT Healthcare
Lenders
18.0 Revolver
Nancy Sales Company Inc
Distributor/Plush Animals
Webster Business Credit
Lender
17.5 Revolving Credit Line
Cheeseworks Inc
Distributor/Specialty Foods
Wachovia Capital Finance
Sole Lender
15.5 Revolver
LPI Holding Company Inc
Supplier/Recycled Compounds
PNC Bank 
Lender
15.1 $10MM Revolver/$5.1MM Term Loans
Refinances existing debt
Leading Edge Logistics LLC
Provider/Third-Party Logistics
PNC Bank 
Lender
15.0 Revolver
Supports growth
Bunker International Corp
Provider/Marine Fuel Industry
Wachovia Capital Finance
Sole Lender
15.0 Revolver
Pinnacle National Bank
Provider/Investment Banking Services
SunTrust Bank
Lender
15.0 Term Loan
Royal Park Uniforms Inc
Manufacturer/Uniforms
Webster Business Credit
Agent
14.0 Revolver
Hill Enterprises Inc
Distributor/Oil, Lubricant, Fuel
Bridge Finance Group
Lender
14.0 Revolving Credit Line
Supports acquisition of Cox Oil Company/U.S. Bank served as co-lender
Fleetwood Folding Trailers Inc
Manufacturer/Folding, Camping Trailers
First Capital
Lender
12.5 Revolver
Supports acquisition by Blackstreet Capital Partners
Althea Technologies Inc
Provider/Therapy Manufacturing Services
City National Bank
Lender 
12.0 Revolver/Equipment Loan
Degussa Initiators LLC
Manufacturer/Organic Specialty Chemicals
PNC Bank 
Lender
12.0 $10.5MM Revolver/$1.5MM Term Loan
Supports acquisition of Evonik Industries
Medivance Inc
Manufacturer/Medical Devices
Oxford Finance, Silicon Valley Bank
Lender
12.0 $4MM Revolving Credit Line
Home Source International Inc Lender
Logistics Manager/Home Textile Products
PNC Bank
Lender
10.8 $10MM Revolver/$.75MM Term Loan
Refinances existing debt
Biolex Therapeutics Inc
Provider/Clinical-Stage Biopharmaceuticals
Silicon Valley Bank, Oxford Finance
Lenders
10.5 Revolver
Tradewinds Aircraft Services LLC
Supplier/Commercial Aircraft Components
PNC Bank 
Lender
10.3 $10MM Revolving Credit Line/$.25MM Term Loan
Supports acquisition by STS Component Solutions
East Air Corporation
Lessor/Aviation Rotable Components
Bank of America
Lender
10.0 Revolver
Work 'N Gear LLC
Operator/Retail Chain
Webster Business Credit
Lender
10.0 Revolver
LCC International Inc
Provider/Wireless Voice, Data Turnkey Services
Bank of America
Lender
9.0 Revolver
Supports growth, restructuring
Snapware Corp
Manufacturer/Food, Home-Storage Containers
New Stream Capital 
Lender
8.5 Revolver
Jensen Meat Company Inc
Manufacturer/Ground Beef
Wachovia Capital Finance
Sole Lender
8.3 Revolver/Term Loan
Blonder Tongue Laboratories Inc
Provider/Integrated Broadband Network Solutions
Sovereign Business Capital
Lender
8.0 $4MM Revolving Credit Line/$4MM Term Loan
Three-year term/Refinances existing debt with National City Business Credit
DRI Corp
Provider/Digital Communications Technology
PNC Bank 
Lender
8.0 Revolving Credit Line
Three-year term/BHC Interim Funding III provided three-year $5MM loan
Ramona Manor Convalescent Hospital, Ramona Manor Property
Operator/Skilled Nursing Facility
Affinity Bank Healthcare Financial Services
Lender
7.3 $1MM Revolving Credit Line/$.5MM Over-Line/$5.8MM Real Estate Loan
Anulex Technologies Inc
Developer/Soft Tissue Repair Products
Silicon Valley Bank
Lender
7.0 Term Loan
Supports company research, development
IPLogic Inc
Provider/Voice, Data, Multimedia Solutions
GE Capital Solutions CDF
Lender
7.0 Credit Line
Wafer Reclaim Services LLC
Refurbisher/Used Wafers
Bridge Finance Group
Lender
7.0 $5MM Revolving Credit Line/$2MM Term Loan
Supports Montco Silicon Technologies acquisition
Alexander Doll Company Inc
Designer/Dolls
Webster Business Credit
Lender
7.0 Revolving Credit Line
Casa Imports
Distributor/Imported Italian Specialty Foods
Sovereign Business Capital
Lender
6.6 Revolving Credit Line
LV Luxury Holdings
Retailer/Watches, Jewelry
Marquette Business Credit
Lender
6.5 Revolver
Gulf States Health Services Inc
Operator/Acute Care Hospitals
Gemino Healthcare Finance
Lender
5.0 Revolving Credit Line
Pays off existing debt
Lantronix Inc
Provider/Secure Communication Technologies
Silicon Valley Bank
Lender 
5.0 $3MM Revolver/$2MM Term Loan
Revolver: two-year term/Term loan: three-year term
American Scientific Resources Inc
Holding Company
Ashford Finance
Lender
5.0 Credit Line
Supports financing for Kidz-Med subsidiary
Bovie Medical Corp Lender
Manufacturer/Electrosurgical Products
RBC Centura Bank
Lender
5.0 Revolving Credit Line
Replaces previous $1.5MM credit line with BofA
PokerTek Inc
Provider/Automated Poker Tables
Silicon Valley Bank
Lender
5.0 Revolver
One-year term
Sexy Hair Concepts LLC
Distributor/Hair Care Products
Monroe Capital 
Co-Lender
5.0 Revolver
Supports acquisition by private equity firm
Cunningham & Lindsey Group Ltd
Provider/Insurance Services
Monroe Capital 
Co-Lender
5.0 Revolver
Cleveland Die & Manufacturing Company Inc
Manufacturer/Metal Stamped Products
Webster Business Credit
Lender
5.0 Revolver
U.S. Rubber Reclaiming Inc
Producer/Reclaimed Butyl
Webster Business Credit
Lender
4.0 Revolver
Zynex Inc
Provider/Pain Management Systems, Electrotherapy Products
Marquette Healthcare Finance
Lender
3.0 Revolver
Three-year term
Codon Devices Inc
Operator/Biotechnology Firm
GE Healthcare Financial Services
Lender
3.0 Revolver
Supports growth
World Energy Solutions Inc
Operator/Online Exchanges in Energy, Environmental Commodities
Silicon Valley Bank
Lender
3.0 Revolver
Cornerstone Health Services Group Inc
Provider/Hospice, Post-Acute Care Services
Presidential Healthcare Credit
Lender 
3.0 Revolver
US Starcom Inc
Supplier/Long Distance, Phone Cards
Thermo Credit
Lender
3.0 Revolver
Village Products Inc
Distributor/Hearth Products
Bridge Business Bancorp
Lender 
2.0 $1.5MM Revolving Credit Line/$.5MM SBA 7(a) Term Loan
Leveraged Technology Inc
Provider/IT, Consulting Services
De Lage Landen Commercial Finance
Lender
2.0 Revolver
Avastra USA Inc
Provider/Sleep Services
Gemino Healthcare Finance
Lender
2.0 Revolving Credit Line
Supports working capital of subsidiaries Pacific Sleep, California Sleep
Teixeira's Bakery
Baker/Portuguese Breads, Pastries
Sovereign Business Capital
Lender
2.0 $1.5MM Revolving Credit Line/$.5MM Term Loan
Reed's Inc
Maker/Natural Sodas
First Capital
Lender
2.0 Revolver 
Two-year term
Working Mother Media Inc
Provider/Multimedia - Women's Topics
Sovereign Business Capital
Lender
1.5 Revolver
Telkonet Inc
Provider/Energy Management Solutions
Thermo Credit
Lender
1.0 Credit Line
Two-year term/Supports growth
Expo Holdings Inc
Operator/Distributors to Retail Industry
Commercial Capital Lending
Lender 
1.0 Revolver
Veterans Trading Co LLC
Distributor/Electronic Components
Celtic Bank
Lender
0.8 Credit Line