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 |