Deal Charts

ABL Deal Chart 2009 Q1

Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 1/1/09 through 3/31/09.

LENDER(S) & ROLE BORROWER & INDUSTRY AMOUNT* STRUCTURE & NOTES
The Pep Boys - Manny, Moe & Jack
Operator/Auto Aftermarket Retail, Service Chain
Bank of America, Wells Fargo, Regions Bank
Lead Lenders
300.0 Revolver
Five-year term/Replaces previous facility
Landry's Restaurants Inc
Developer/Restaurants, Hospitality Projects
Wells Fargo Foothill, Jefferies Finance
Co-Lead Arrangers, Co-Bookrunners
215.6 $50MM Revolving Credit Line/$165.6MM Term Loan
Repays previous debt
Foot Locker Inc
Retailer/Athletic Footwear, Apparel
Bank of America
Admin Agent, Collateral Agent, Swing Line Lender, L/C Issuer
200.0 Revolver
Four-year term/J.P. Morgan Chase, Wells Fargo Retail Finance: co-syn agents; U.S. Bank: doc agent; BofA Securities, J.P. Morgan Securities: joint lead arrangers, joint bookrunners
Wendy's International Holdings LLC
Operator/Fast Food Restaurants
JPMorgan Chase Bank/Bank of America/Wachovia
Admin Agent/Syn Agent/Doc Agent
200.0 Revolver
J.P. Morgan Securities, BofA Securities, Wachovia Capital Markets: joint lead arrangers, joint bookrunners
Under Armour Inc
Distributor/Apparel, Footwear, Accessories
PNC Bank 
Lead Arranger
180.0 Revolver
Three-year term/Replaces the existing facility
Georgia Gulf Corp
Manufacturer/Chemicals
GE Capital Corporate Lending
Lender
175.0 A/R Securitization Facility
Calpine Corp
Provider/Power
WestLB, ING and Union Bank of California
Joint Lead Arrangers, Lenders
156.0 Revolver
Three-year term/Supports recap of its Deer Park Energy Center
United Stationers Inc
Distributor/Business Products
Bank of America, PNC Bank, Enterprise Funding Co, Market Street Funding
Lenders
150.0 A/R Securitization
Replaces previous $250MM securitization program/Matures: 
The Talbots Inc
Retailer/Women's Apparel, Shoes, Accessories
Mizuho Corporate Bank, Sumitomo Mitsui Banking Corp, The Norinchukin Bank
Lenders
150.0 Revolver
EZCORP Inc
Provider/Credit Services
Union Bank of California/Wells Fargo Bank
Syn Agent/Admin Agent, Issuing Bank
120.0 $80MM Revolving Credit Line/$40MM Term Loan
Supports acquisition of Value Financial Services
Stream Global Services Inc
Provider/Customer Relationship Management Solutions
PNC Bank and Steel City Capital Funding
Underwriter/Lender
107.0 Revolver 
PNC Capital Markets: syndicator
Louisiana-Pacific Corp
Supplier/Building Products
Bank of America Business Capital
Co-Agent
100.0 Revolver 
Banc of America Securities: sole lead arranger, bookrunner/Refinances existing debt
Louisiana-Pacific Corp
Supplier/Building Productsucts
Bank of America, Royal Bank of Canada
Lenders
100.0 Revolver
Three-and-a-half-year term
Wildflower Inc
Provider/Technology Solutions
GE Commercial Distribution Finance
Lender
90.0 Revolver
Vesta Inc
Manufacturing/OEM Medical Devices
GE Healthcare Financial Services
Lead Lender
89.0 Revolver
Completes acquisition of ExtruMed/The PrivateBank & Trust Company, Libertyville Bank & Trust, National City participated
LEAF Financial Corp
Provider/Commercial Finance, Equipment Leasing
Wells Fargo Foothill
Lender
75.0 Revolver
Three-year term/Supports LEAF Equipment Finance Fund 4 activities
Midland Paper Co Inc
Distributor/Fine Paper
Bank of America Business Capital
Lender
65.0 Revolver
Refinances existing debt
JSW Steel (USA) Inc
Provider/Hot-Rolled Plate, Steel Pipe
Bank of America Business Capital
Lender
60.0 Revolver
Escalade Inc
Manufacturer/Sporting Goods, Office Products
JP Morgan Chase
Lender
50.0 Revolver 
Globecomm Systems Inc
Provider/Satellite-Based Communications Solutions
Citibank
Lender
50.0 Revolver/Term Loan
One-year term/Supports potential acquisition
Safeguard Scientifics Inc
Provider/Growth Capital
Silicon Valley Bank
Lender
50.0 Revolver
Two-year term/Replaces $30MM facility with Comerica Bank
Commercial Vehicle Group Inc
Supplier/Integrated System Solutions
Bank of America
Lender
47.5 Revolver
Three-year term/Repays previous facility
Taylor Companies LLC
Provider/Transportation, Logistics
PNC Business Credit
Lead Lender
40.0 $37MM Revolving Credit Line/$3MM Term Loan
Three-year term/Refinances existing indebtedness
LTX-Credence Corp
Provider/ATE Solutions
Silicon Valley Bank
Lender
40.0 Revolving Credit Line
Two-year term
Richelieu Foods Inc Lender
Manufacturer/Food Products
PNC Bank
Lender
38.0 $21MM Revolver/$16MM Term Loan/$1MM CAPEX Line
Steel City Capital Funding: provided a junior tranche/Refinances existing debt, bridge loan
Industrial Growth Partners
Provider/Equity Capital
CIT Group
Co-Arranger
36.0 Revolver 
Supports acquisition of O'Brien Corp
Ultralife Corp
Provider/Power Solutions
JPMorgan Chase Bank/M&T Bank
Admin Agent/Lender
35.0 Revolver
Matures: June 30, 2010
Millennium Pharmacy Systems Inc
Provider/Institutional Pharmacy Services
MidCap Financial
Lender
35.0 Revolver
The DiBari Group: debt advisor
Angiotech Pharmaceuticals Inc
Provider/Pharmaceuticals, Medical Devices
Wells Fargo Foothill
Sole Arranger, Admin Agent, Lender
32.5 $22.5MM Revolver/$10MM Term Loan
PaperWorks Industries Inc
Manufacturer/Clay-Coated Boxboard Products
PNC Bank 
Lender
30.0 $21.4MM Revolver/$8.6MM Term Loan
Supports acquisition by Sun Capital Partners' portfolio company
AutoInfo Inc
Provider/Transportation Services
Regions Bank 
Lender
30.0 Revolver
Replaces existing $20MM facility with Wachovia
Mansfield Plumbing Products LCC
Provider/Bathroom Fixtures
First Capital
Lender
28.0 Revolver
Ace Expediters Inc
Provider/Logistics Services
Golub Capital
Lender
27.5 Revolver 
Supports acquisition of Network Express/Deal Source: Atlantic Street Capital
Universal Stainless & Alloy Products Inc
Manufacturer/Specialty Steels
PNC Bank
Lender
27.0 $15MM Revolver/$12MM Term Loan
Revolver: Three-year term/Term Loan: Five-year term
Northern Oil and Gas Inc
Producer/Oil, Gas
CIT Energy
Lead Arranger
25.0 Revolver
Northern Oil and Gas Inc
Operator/Oil Exploration, Production
CIT Capital
Lender
25.0 $15MM Revolver/$12MM Term Loan
Matures: February 27, 2012
Akorn Inc
Manufacturer/Pharmaceutical Products
GE Healthcare Financial Services
Lead Arranger, Admin Agent
25.0 Revolver
Medicia Holdings LLC
Manufacturer/Personal Care Products
PNC Bank 
Lender
20.3 $16.5MM Revolver/$3.8MM Term Loan
Supports acquisition by Joshua Partners
Hudson Crossing Surgery Center
Operator/Ambulatory Surgical Center
Healthcare Finance Group
Lender
18.0 $5MM Revolver/$13MM Term Loan
Supports company recap
Everfast Inc (d/b/a Calico Corners)
Retailer/Home Furnishings, Fabrics
PNC Bank 
Lender
15.0 Revolver
Refinances existing credit facility
Ares Capital Corp
Provider/Financing Solutions
City National Bank
Lender
15.0 Revolver
Supports acquisition by Joshua Partners
PureTek Corp
Manufacturer/Pharmaceuticals
Marquette Business Credit 
Lender
13.0 Revolver
A.D.A.M. Inc
Provider/Health Info, Benefits Technology Solutions
RBC Bank USA
Lender
13.0 $3MM Revolver/$10MM Term Loan
Replaces existing agreement with CapitalSource
Velocity Express Corp
Provider/Regional Delivery Solutions
Burdale Capital Finance
Lender
12.0 Revolver
Replaces agreement with Wells Fargo Foothill
Hardinge Inc
Manufacturer/Machine Tools
M&T
Lender
10.0 Term Loan
Meade Instruments Corp
Manufacturer/Telescopes, Optical Products
First Capital
Lender
10.0 Revolver
Three-year term/Replaces existing facility with BofA
Capstone Turbine Corp
Producer/Microturbine Systems
Wells Fargo Business Credit
Lender
10.0 Revolver
Solta Medical Inc
Provider/Medical Aesthetics
Silicon Valley Bank
Lender
9.0 $6MM Revolver/$3MM Term Loan
Revolver matures: March 9, 2011/Term loan matures: Dec. 1, 2011
Water Providers Ltd
Provider/Water Transfer Services
PNC Bank
Lender
8.9 $5MM Revolver/$3.9MM Term Loan
Supports H2O Transfer Services acquisition
Pearl Therapeutics Inc
Developer/Respiratory Disease Treatment Products
Oxford Finance, Silicon Valley Bank
Lender
8.0 Venture Debt Financing
Rally Software Development Corp
Provider/Agile Application Lifecycle Management
Square 1 Bank
Lender
8.0 Revolver
Supports growth
Chino Valley Medical Center
Operator/Acute Care Community Hospital
Healthcare Finance Group
Lender
8.0 Revolver
Replaces existing debt
Retail Ventures Inc
Operator/DSW Shoe Warehouse, Filene's Basement
National City Business Credit
Agent
7.5 Revolver
Master Packaging Inc
Manufacturer/Polyethylene, Polypropylene Products
First Capital
Lender
7.5 Revolver
New Dimensions Research Corp
Manufacturer/Retail Point-of-Purchase Displays
Keltic Financial Services
Lender
6.0 Revolver
Viking Fibres Inc
Provider/Recycled Paperboard
Sterling National Bank
Lender
5.0 Revolver
Refinances existing indebtedness
EnergyConnect Group
Provider/Demand Response Technologies
Aequitas Capital Management
Lender
5.0 Convertible Secured Note
Matures: January 2011
Fagerdala USA Inc
Producer/Foam Products
Keltic Financial Services
Lender
5.0 Revolver
Comarco Inc
Provider/Mobile Power Solutions
Silicon Valley Bank
Lender
5.0 Revolver
Arista Enterprises Inc
Provider/Consumer Electronic Accessories
Sterling National Bank
Lender
5.0 Revolver
Supports company growth
A-Med Health Care Center
Provider/Medical Supply Delivery Service
Affinity Bank
Lender
4.9 Revolving Credit Line
Royal Petroleum Corp
Wholesaler/Petroleum, Related Products
Sovereign Business Capital
Lender
4.0 Revolver
Eagle Healthcare Inc
Provider/Rehabilitation, Skilled Nursing Care
Gemino Healthcare Finance 
Lender
3.5 Revolving Credit Line
Pays off existing debt
Vaughan Foods Inc
Manufacturer/Refrigerated Foods
Peninsula Bank Business Funding
Lender
3.0 Revolving Credit Line
Retires former revolver with International Bank of Commerce
Procera Networks Inc
Developer/Evolved DPI solutions
Peninsula Bank Business Funding
Lender
3.0 Credit Line
Fenley and Nicol Environmental Inc
Provider/Environmental Remediation, Storage Tank Services
Sterling National Bank
Lender
2.8 Revolver
Supports growth
Clarity Imaging Technologies Inc
Manufacturer/Laser Toner Cartridges
Keltic Financial Services
Lender
2.5 Revolving Credit Line
International Connection Corp Inc
Distributor/Wireless Speakers, Headphones
Marquette Commercial Finance
Lenders
2.5 Revolver
Ohrenstein & Brown LLP
Law Firm
Sterling National Bank
Lender
2.0 Revolving Credit Line
Refinance previous debt
Egide USA Inc
Manufacturer/Hermetic Packages
Keltic Financial Services
Lender
1.7 Revolving Credit Line
Luxor Contracting Inc
Provider/Temporary Labor
Sterling Resource Funding Corp
Lender
1.7 Revolver
Supports company growth
Premier Healthcare Services Inc
Provider/Nursing Services
Marquette Healthcare Finance
Lender
1.5 Working Capital Facility
Refinance existing facility
Allegiance Home Health Care Inc
Operator/Long-Term Care Communities
Presidential Financials Healthcare
Lender
1.5 Revolver
SummitWorks Technologies Inc
Provider/Outsourcing IT Solutions
Sovereign Business Capital
Lender
1.0 Revolving Credit Line 
Assists company in meeting sales-driven turnaround strategy
SNIP LINK LLC
Provider/Integrated Communications
Thermo Credit
Lender
0.8 Revolver
Supports operational expansion