Deal Charts

ABL Deal Chart 2010 Q2

Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 4/1/10 through 6/30/10.

LENDER(S) & ROLE BORROWER & INDUSTRY AMOUNT* STRUCTURE & NOTES
LyondellBasell Industries AF SCA
Producer/Polymers, Petrochemicals, Fuels
CIT
Admin Agent
1750.0 Revolver
Support emergence from bankruptcy
Borders Group
Specialty Retailer/Books 
Banc of America Securities/GE Capital Markets, et al
Joint Lead Arrangers
700.0 Revolver/Term Loan
Four-year term/J.P. Morgan Securities, Wells Fargo Retail Finance: additional joint lead arrangers
Jack in the Box 
Operator/Restaurants 
Wells Fargo Securities, BofA Securities, Morgan Stanley Senior Funding
Joint Lead Arrangers, Joint Book Managers
600.0 $400MM Revolver/$200MM Term Loan
Five-year term
AutoTrader.com
Provider/Consumer Information Services 
Goldman Sachs Lending Partners/Wells Fargo Securities
Joint Lead Arrangers
525.0 Revolver/Term Loans
Redeems capital stock, provides working capital
AmSurg Corp
Operator/Ambulatory Surgery Centers
SunTrust Robinson Humphrey
Lead Arranger
375.0 Revolver
Five year term/Joint Lead Arrangers: BofA Securities & Regions Capital Markets
School Specialty
Provider/Products to Educators 
Bank of America Merrill Lynch
Sole Lead Arranger
350.0 Revolver
Facility includes $200MM incremental term loan feature
Aurora Diagnostics
Diagnostic Lab, Anatomic Pathology Company 
Barclays Bank
Lender
335.0 $110MM Revolver/$225MM Term Loan
Securus Technologies
Provider/Inmate Case Management Software
Jeffries Finance
Lead Arranger
220.0 $35MM Revolver/$185MM Term Loan
Refinances previous debt
KKR Financial Holdings
Publicly Traded Specialty Finance Company
Citibank/Deutsche Bank, et al
Lenders
210.0 Revolver
Four-year term/Bank of America & Morgan Stanley: Lenders
Chart Industries
Manufacturer/Hydrocarbon Production Equipment
J.P. Morgan Securities
Lead Arranger
200.0 $135MM Revolver/$65MM Term Loan
Revolver & Term Loan: Five year terms
The Talbots Inc
Retailer/Women's Apparel 
GE Capital Markets
Sole Lead Arranger
200.0 Revolver
GE Corporate Retail Finance: Agent/Refinances existing debt & supports BPW acquisition
Del Taco Holdings
Operator/Casual Dining 
Wells Fargo/GE Capital
Co-Lead Lenders
199.0 $39MM Revolver/$160MM Term Loan
Goldman Sachs Mezzanine Partners provided equity capital
Abitibi-Consolidated
Manufactuerer/Pulp, Paper Products
CIT
Admin Agent
180.0 A/R Securitization Facility
Refinances existing A/R securitization facility
EduK Group
Provider/Post-Secondary Education 
Senior Secured Loan Fund (GE Capital, Ares Capital)
Co-Admin Agents, Joint Lead Arrangers, Joint Bookrunners
179.0 Revolver
GE Capital also provided $35MM revolver/Supports recap
Telx Group 
Provider/Business Exchange Services
Goldman Sachs Lending Partners, Deutsche Bank Securities
Joint Lead Arrangers, Bookrunners
175.0 $25MM Revolving Credit Line
Royal Bank of Canada, SunTrust Robinson Humphrey: Bookrunners/ING Capital: Doc agent
Cinedigm Digital Cinema
Provider/Movie Digital Technology
Société Générale/GE Capital
Co-Lead Arrangers
172.5 Term Loan
Six-year term/Refinances previous debt
NMHG Holding C
Manufacturer/Materials Handling Equipment
CIT
Admin Agent
150.0 Revolver
Refinances existing ABL revolver
Wolverine World Wide 
Manufacturer/Shoes 
JPMorgan Chase Bank/J.P. Morgan Securities
Admin Agent/Lead Arranger, Sole Bookrunner
150.0 Revolver
Four-year term/Bank of America, Wells Fargo Bank, Harris: Co-syndication agents
M/I Homes
Builder/Single-Family Homes
PNC Bank
Admin Agent
140.0 Revolver
Three-year term/Replaces previous $150MM revolver
Schumacher Group
Provider//Outsourced Physician, Admin Services
GE Capital, Healthcare Financial Services 
Admin Agent
120.0 Revolver
GE Capital Markets: Lead arranger
Harry Winston Diamond
Diamond Company
Standard Chartered Bank
Lender
100.0 Revolver
Three-year term
Fluid Music Canada
Distributor/Private Label Music 
Bank of Montreal
Lender
100.0 Revolver
Three-year term/Supports Mood Media Group acquisition
Telerent Leasing 
Lessor/Healthcare, Renewable Energy Equipment
BB&T Corporation
Lender
100.0 Revolver
Supports portfolio growth
ATP Oil & Gas
Producer/Oil & Natural Gas
JP Morgan 
Admin Agent
100.0 Revolver
Refinances previous facility/JP Morgan: Collateral Agent
Standard Register
Provider/Document Services
Banc of America Securities 
Lead Arranger
100.0 Revolver
Four-year term/Other lenders: KeyBank, PNC, JP Morgan (doc agent) BofA (admin agent)
Trans World Entertainment
Specialty Retailer/Entertainment Software
Wells Fargo Capital Finance
Joint Lead Arranger
100.0 Revolver
Wells Fargo Retail Finance: lender ($50MM)
Guardian Healthcare
Provider/Home Healthcare Services
GE Capital, Healthcare Financial Services
Admin Agent
90.0 Revolver
GE Capital Markets: Lead arranger
Nu Horizons Electronics
Distributor/Technology Telecommunication Solutions 
Wells Fargo Capital Finance
Lender, Admin Agent
80.0 Revolver
Four-year term
Insteel Industries
Manufacturer/Concrete Strand, Wire Reinforcement
GE Capital, Corporate Finance
Sole Lender
75.0 Revolver
Replaces existing credit facility
Fleischmann's Vinegar
Provider/Vinegars, Cooking Wines 
Senior Secured Loan Fund (GE Capital, Ares Capital)
Admin Agents, Joint Lead Arrangers, Joint Bookrunners
53.0 Revolver
Supports acquisition by RLJ Equity Partners
Cadence Pharmaceuticals
Biopharmaceutical Company 
Oxford Finance, Silicon Valley Bank, GE Financial Services
Lenders
30.0 Revolver
Supports Incline Therapeutics acquisition
The Kitchen Collection
Retailer/Kitchenware, Gourmet Foods
Wells Fargo Capital Finance
Lender
30.0 Revolver
RoomStore
Retailer/Home Furnishings, Bedding
Wells Fargo Capital Finance
Lender
30.0 Revolver
CDC Software
Provider/Hybrid Enterprise Software
Wells Fargo Capital Finance
Lender
30.0 Revolver
Four-year term
Standard Steel
Manufacturer/Forged Steel Wheels, Axles
PNC Bank
Lender
26.0 Revolver
Refinances existing debt
Kratos Defense & Securities Solutions
Provider/Mission Critical Engineering
Key Bank
Admin Agent
25.0 Revolver
Four-year term/Supports acquisition of Gichner Holdings
Cardiovascular Systems
Manufacturer/Medical Devices
Silicon Valley Bank
Lender
25.0 $15MM Credit Line/$10MM Term Loan
Partners For Growth provided additional $4MM in convertible debt
Parlux Fragrances
Manufacturer/Prestige Products
GE Capital Corporate Finance 
Lender
20.0 Revolver
Two-year term
Dreams, Inc.
Provider/Sports Memorabilia
Regions Bank 
Lender
20.0 Revolver
Aventine Renewable Energy
Producer/Ethanol
PNC Bank
Lender
20.0 Revolver
Exit financing
Hoffmaster
Manufacturer/Tabletop Products
Prospect Capital
Lender
20.0 Second Lien Debt
Deal Source: Kohlberg & Company affiliates
Sparks Marketing Group
Provider/Event Marketing Products
PNC Bank
Lender
18.8 Revolver
Refinances existing debt
Ultra Pro Acquisition 
Manufacturer/Housewares, Scrapbooking Tools
PNC Bank
Lender
16.0 Revolver
Deal Source: Marlin Equity Partners
Pure Energy Services
Provider/Oilfield Services
Bank of the West
Lender
15.0 $12MM Term Loan/$2.5MM Operating Loan/$.5MM Credit Card Facility
Term Loan: Five-year term
MediciNova
Biopharmaceutical Company
Oxford Finance
Lender
15.0 Term Loan
Supports preparation of MN-221 drug program
Diversified Restaurant Holdings
Operator/Casual Dining 
RBS Citizens
Lender
15.0 $6MM Credit Line/$9MM Term Loan
Provides working capital & refinances existing term loan
Alexza Pharmaceuticals
Manufacturer/Pharmaceuticals
Hercules Technology Growth Capital
Lender
15.0 Revolver/Term Loan
Newtek Business Services
Provider/Small Business Financial Services
Capital One
Lender
14.5 Term Loan
Five-year term/Refinances previous debt with GE Capital
Wenner Bread Products
Manufacturer/Bread, Rolls, Frozen Dough
Capital One Leverage Finance 
Lender
14.0 Revolver/Term Loan
Refinances current revolver, term loan
Phoenix Services
Provider/Services to Steel Producers
Capital One Leverage Finance
Lender
12.0 Revolver
Pacira Pharmaceuticals
Manufacturer/Pharmaceuticals
GE Healthcare Finance
Lender
11.3 Revolver
Supports preparation of EXPAREL drug program
Aerosonic Corporation
Supplier/Precision Flight Products
M&I Bank
Lender
10.1 $4MM Revolver/$6.1MM Term Loans
Refinances previous debt
Cerus Corporation
Manufacturer/Biomedical Products
Oxford Finance
Lender
10.0 Credit Line
SRS Industries
Manufacturer/Fabricated Components
Comvest Capital II Fund
Lender
8.5 Revolver
Supports Whitehall Industries acquisition
Moosejaw Mountaineering
Retailer/Outdoor Apparel, Equipment
CORE Business Credit
Lender
8.0 Revolving Credit Line
Supports growth
Laser Pacific
Provider/Post Production Film Services
CORE Business Credit
Lender
8.0 Revolver
Deal Source: H.I.G. Capital
Koss Corporation
Manufacturer/Headphones
JP Morgan Chase
Lender
8.0 Revolver
Replaces previous facility with Harris, N.A.
Content Critical
Provider/Document Outsourcing Services
Keltic Financial Services
Lender
6.0 Revolving Credit Line
HMC/CAH Consolidated
Operator/Rural Hospitals
Gemino Healthcare Finance
Lender
6.0 Revolver
Refinances existing debt
Optical Cable Corp
Manufacturer/Fiber Optic Cable
SunTrust Bank
Lender
6.0 Revolver
Two-year term/Modifies certain loans with Valley Bank
Glowpoint
Provider/Telepresence, Video Communications Services
Silicon Valley Bank
Lender
5.0 Revolver
Two-year term
World Wide Security
Provider/Security Alarm Equipment & Services
CapitalSource
Lender
5.0 Revolver
Three-year term/Provided through lender's Security Lending Group
ResCom Energy
Provider/Electricity (CT)
First Capital
Lender
5.0 Revolver
Clement Support Services
Supplier/Pipe Support
Bridge Bank
Lender
4.9 Revolver
Game Trading Technologies
Provider/Video Game Trading
Bank of America
Lender
3.5 Revolver
GigOptix
Manufacturer/Semiconductor Products
Silicon Valley Bank
Lender
3.4 $3MM Revolver/$400,000 Term Loan
Refinances revolver with Bridge Bank, term loan with Agility Bank
MOD-PAC
Manufacturer/Paper Board Packaging 
Manufacturers and Traders Trust Co.
Lender
3.0 Revolver
Three-year term/Replaces $5MM credit line
Quality Rubber Resources
Manufacturer/Rubber Products
Keltic Financial Services
Lender
1.6 Revolving Credit Line
Woodbolt International
Manufacturer/Sports Nutrition Supplements
First Capital
Lender
1.5 Revolving Credit Line
Transportation Agent Grid
Provider/Logistics Resources
US Capital Partners
Lender
1.5 Revolver