Deal Charts

ABL Deal Chart 2009 Q2

Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 4/1/09 through 6/30/09.

LENDER(S) & ROLE BORROWER & INDUSTRY AMOUNT* STRUCTURE & NOTES
LINN Energy LLC
Developer/Natural Gas, Oil
BNP Paribas/Royal Bank of Canada
Admin Agent/Syn Agent
1750.0 Revolver
Barclays, Calyon, Citibank, RBS: co-doc agents/Matures: August 1, 2012
Cimarex Energy Co
Producer/Oil, Gas
JPMorgan Chase Bank
Admin Agent
800.0 Revolver
BofA, Wells Fargo: co-syn agents, Compass Bank, Deutsche Bank Securities: co-doc agent, J.P. Morgan Securities: lead arranger, bookrunner
Jones Apparel Group Inc
Designer/Apparel, Footwear
JPMorgan Chase
Admin Agent, Joint Collateral Agent
650.0 Revolver
Three-year term/JPMorgan Chase Bank, Toronto: Canadian admin agent, GE Capital: joint collateral agent
Kia Motors America Inc
Manufacturer/Vehicles
Wells Fargo Foothill
Lead Lender
305.0 Revolving Credit Line
BofA Securities, JPMorgan Chase: co-lead arrangers, BofA: syndication agent
MarineMax Inc
Retailer/Recreational Boats, Yachts
Bank of America/Key Bank/GE Capital
Lenders
300.0 Credit Line
Bank of the West, Wells Fargo/Wachovia, U.S. Bank, BB&T participated
Hexcel Corp
Manufacturer/Structural Materials
Deutsche Bank Securities, Banc of America Securities
Lead Lenders
300.0 $125MM Revolver/$175MM Term Loans
Revolver: Four-year term, Term Loan: Five-year term/Replaces previous facility
Suburban Propane Partners LP
Distributor/Propane, Fuel Oil
Banc of America Securities/ Wachovia Capital Markets
Joint Lead Arrangers, Joint Book Managers
250.0 Revolver
Four-year term/Bank of America: admin agent
Level 3 Financing Inc
Provider/Fiber-Based Communications Services
Banc of America Securities
Sole Lead Arranger, Bookrunner
220.0 Tranche B Term Loan
Matures in 2014
Quiksilver Inc
Producer/Apparel, Footwear, Accessories
Bank of America/GE Capital
Joint Lead Arrangers
200.0 Revolver
Three-year term/Refinances previous debt
Under Armour Inc
Distributor/Branded Apparel, Footwear
PNC
Lead Lender
200.0 Revolver
Three-year term/Replaces previous facility
New Flyer Industries Inc
Manufacturer/Heavy-Duty Transit Buses
The Bank of Nova Scotia
Lead Arranger, Sole Bookrunner, Admin Agent
180.0 $50MM Revolver/$90MM Term Loan, $40MM Letter of Credit Facility
Matures: April 24, 2012/Refinances existing debt
GTSI Corp
Provider/Enterprise IT Infrastructure Solutions
Castle Pines Capital 
Lender
135.0 Revolver
Two-year term/Replaces previous asset-based revolver
Alliance Data Systems Corp
Provider/Marketing Solutions
BMO Capital Markets, SunTrust Robinson Humphrey
Lead Agents
134.0 Term Loan
Three-year term/Bank of America, JP Morgan Chase Bank, Barclays Bank: agents
The Brick Group Income FundRetailer/Household Furniture
GE Capital
Lender
130.0 Revolver
The Brick Group Income Fund
Retailer/Home Furnishings
GE Capital
Lender
130.0 Revolver
Supports company recap/36-month term
Checkpoint Systems Inc
Manufacturer/Supply Chain Solutions
Wachovia Bank/Citizens Bank of Pennsylvania
Co-Lead Lenders
125.0 Revolver
Three-year term
Clearwater Seafood Income Fund
Distributor/Seafood Products
GE Capital (Canada)
Underwriter
119.0 $60MM Revolver/$59.5MM Term Loan
Three-year terms/EDC, Business Development Bank of Canada underwrote term loan
Hearthside Food Solutions
Manufacturer/Specialty Food Products
GE Antares
Admin Agent
115.0 $20MM Revolver, $95MM Term Loan A
Five-year terms/GE Capital Markets: jt lead arranger, jt bookrunner/Supports acquisition by Wind Point Partners
Insituform Technologies Inc
Provider/Pipe Products
Bank of America
Admin Agent
115.0 $65MM Revolving Credit Line/$50MM Term Loan
Three-year terms/Supports Corrpro Companies acquisition
Monrovia Nursery Co
Producer/Container Grown Plants
GE Capital Corporate Finance
Lender
100.0 Revolver
GE Capital Markets: co-lead arranger
Sealy Corp
Manufacturer/Mattresses
JPMorgan Chase/GE Capital
Admin Agent/Co-Collateral Agents
100.0 Revolver
JPMorgan Securities, Citicorp Global Markets, GE Capital Markets: joint lead arrangers, joint lead bookrunners
Brunswick Corp
Manufacturer/Marine Engines, Boats, Fitness Equipment, Bowling Products, Billiards
GE Commercial Distribution Finance
Lender
100.0 Revolver
Replaces existing accounts receivable sale program
Amkor Technology Inc
Provider/Semiconductor Assembly, Services
Bank of America
Admin Agent
100.0 Revolver
Matures in April 2013/Replaces previous facility
Calgon Carbon Corp
Manufacturer/Granular Activated Carbon
First Commonwealth Bank
Admin, Collateral, Syndication Agent
95.0 Revolver
Five-year term/Citizens Bank of Pennsylvania, First National Bank of Pennsylvania participated
Arizant Inc
Distributor/Temperature Management Products
GE Capital Healthcare Financial Services
Lender
75.0 Revolver
GE Capital Markets: joint lead arranger, sole bookrunner
Canwest Media Inc
Operator/Media Company
CIT Business Credit Canada
Lender
75.0 Revolver
Innophos Holdings Inc
Producer/Specialty Phosphates
Wachovia Bank
Agent, Lender
65.0 Revolver
Sun Capital Partners Inc affiliate
Private Investment Firm
CIT Group
Joint Lead Arranger, Syn Agent
65.0 Revolver
CIT Commercial & Industrial: joint arranger/Supports Gordmans acquisition
Wilkinson Industries Inc
Manufacturer/Foodservice Containers
Steel City Capital/PNC
Lenders
59.5 $30MM Revolver/$29.5MM Term Loan 
Deal Source: Mid Oaks Investments/Supports acquisition of Dispoz-o Products
Clearwater Seafoods Limited Partnership
Distributor/Seafood
GE Capital Markets (Canada), GE Capital Markets
Co-Arrangers
57.0 Term Loan
Three-year term/Business Development Bank of Canada, Export Development Canada, Province of Nova Scotia participated
Resaca Exploitation Inc
Producer/Oil, Natural Gas
CIT Capital/NGP Capital Resources Co.
Admin Agent/Lender 
50.0 Revolver
Three-year term/Replaces exiting facility with NGP
Movado Group Inc
Distributor/Watches
Bank of America
Lender
50.0 Revolver
Three-year term/Refinances previous debt
Agilysys Inc
Provider/IT Solutions
Bank of America Business Capital 
Agent
50.0 Revolver
Three-year term
Gladstone Investment Corp
Investor/Small-, Mid-sized Private Businesses
BB&T
Lender
50.0 Revolving Credit Line
repaid all amounts due to Deutsche Bank/matures in 2010
Movado Group Inc
Manufacturer/Watches
Bank of America
Lender
50.0 Revolver
Three-year term/Replaces current debt
PEER 1 Network Enterprises Inc
Provider/Online IT Hosting
National Bank Financial Group 
Lender
40.0 $25MM Revolver/$15MM Term Loan
Three-year terms/Replaces previous facilities with Fortress Credit
Ethan Allen Interiors Inc
Manufacturer/Home Furnishings
JPMorgan Chase
Lead Lender
40.0 Revolver
Three-year term
Flow International Corp
Manufacturer/Industrial Waterjet Machines
Bank of America 
Admin Agent, Swing Line Lender, L/C Issuer
40.0 Revolver
Two-year term
Southwind Foods LLC
Distributor/Frozen Seafood
Bank of America Business Capital
Lender
40.0 Revolver
Refinances existing debt
THQ Inc
Developer/Interactive Entertainment Software
Bank of America 
Lender
35.0 Revolving Credit Line
EasyLink Services International Corp
Provider/Messaging Services, e-Commerce Solutions
SunTrust Bank
Admin Agent
32.0 $2MM Revolver/$30MM Term Loan
Term Loan: Three-year term/The Private Bank and Trust Co: syn agent, SunTrust Robinson Humphrey: sole lead arranger
Wexler Video LLC
Provider/Equipment Rentals
RBS Business Capital
Lender
30.0 Revolver
Supports Postworks acquisition
K2 Industrial Services Inc
Provider/Industrial Cleaning, Maintenance
PNC
Lender
30.0 $20MM Revolver/$10MM Term Loan
Photronics Inc
Supplier/Imaging Technology Solutions
JPMorgan Chase
Admin Agent, Collateral Agent
27.2 Revolver
Citizens Bank of Massachusetts, HSBC Bank USA, Citibank: co-syndication agents
Hirschfeld Holdings LP
Fabricator/Structural Steel Components
LBC Credit Partners
Lender
25.0 Term Loan
Supports growth initiatives
Zumiez Inc
Retailer/Sports-Related Apparel, Accessories
Wells Fargo HSBC Trade Bank
Lender
25.0 Revolver
Replaces previous facility with Wells Fargo
Regency Healthcare Group LLC
Provider/Hospice Care
GE Capital Healthcare Financial Services
Lender
25.0 Revolver
GE Capital Markets: arranger/refinance existing debt
Hoover Material Handling Group Inc
Provider/Liquid Handling Solutions
PNC
Lender
23.3 $21MM Revolver/$2.3MM Term Loan
Refinances existing debt
Biohorizons Inc
Provider/Medical Devices
MidCap Financial
Admin Agent, Sole Lender
20.0 Revolver
Sagent Pharmaceuticals Inc
Manufacturer/Injectable Pharmaceutical Products
MidCap Financial
Lender
15.0 Revolver
IPEG Inc
Manufacturer/Auxiliary Systems, Equipment
PNC Bank
Lender
15.0 Revolver
Partially refinances existing debt
Walter Investment Management Corp
Provider/Medical Devices
SunTrust Bank/Regions Bank
Admin Agent, Sole Lender
15.0 Admin Agent/Syn Agent
Veroxity Technology Partners Inc
Provider/Fiber Optic Network Solutions
Webster Bank
Lender
14.0 Credit Line
York Telecom Corp Lender
Provider/Visual Communication Services
PNC Bank 
Lender
12.0 Revolving Credit Line
Petra Capital Partners invested $6MM in debt, equity funding
Local.com Corp
Provider/Local Search, Network
Square 1 Bank
Lender
10.0 Revolver
Supports company expansion
Nestor Sales LLC
Distributor/Maintenance, Repair Supplies and Tools
PNC
Lender
10.0 Revolver
Refinance existing debt
MVL Group Inc
Provider/Market Research Services
PNC
Lender
10.0 Revolver
Refinance existing debt
Archstone Consulting LLC
Provider/Investments to Service-Based Businesses
PNC Bank
Lender
10.0 Revolver
Capstone Turbine Corp
Manufacturer/Micro-Turbine Energy Systems
Wells Fargo Bank
Lender
10.0 Credit Line
Pulse Systems Inc
Provider/Precision Laser Cutting
Fifth Third Bank
Lender
8.5 $1.5MM Revolving Credit Line/$7MM Term Loan
J. Alexander's Corp
Operator/Restaurants
Pinnacle National Bank
Lender
8.0 $5MM Revolver/$3MM Term Loan
Revolver: Three-year term/Replaces previous credit line
Anacomp Inc
Provider/Business Solutions
Bridge Capital Finance
Lender
7.5 Revolver
Supports eDiscovery initiatives
Isogen LLC
Provider/Therapeutics Sterile Manufacturing
Wilmington Trust
Lender
7.0 Term Loans
Coffee Holding Co Inc
Roaster, Dealer/Wholesale Coffee
Sterling National Bank
Lender
5.0 Revolving Credit Line
CeNeRx BioPharma Inc
Provider/Nervous System Disease Treatments
MidCap Financial
Lender
5.0 Revolver
Aisling Capital, L Capital Partners, Pappas Ventures provided additional $4MM
Laurand Associates Inc
Distributor/Aluminum Raw Material
Sterling National Bank
Lender
4.5 Revolving Credit Line
Craftsman Press
Printer, Provider/Distribution Services
Keltic Financial Services
Lender
4.5 Revolving Credit Line/Term Loan
Nutritional Laboratories International Inc
Supplier/Custom Health, Wellness Products
Marquette Business Credit
Lender
4.0 Revolving Credit Line
Zynex Inc
Manufacturer/Electro Therapy Products
Marquette Healthcare Finance
Lender
3.0 Revolver
IP Networks Inc
Provider/Telecommunications Service
Thermo Credit
Lender
2.5 Revolver
Active Control Technology Inc
Provider/Mining Wireless Systems
Callidus Capital Corp
Lender
2.2 Revolver