Deal Charts

ABL Deal Chart 2010 Q4

Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 10/1/10 through 12/31/10.

BORROWER & INDUSTRY LENDER(S) & ROLE AMOUNT* STRUCTURE & NOTES
DineEquity 
Operator/Applebee's, IHOP restaurants
Barclays Bank/Raymond James Realty/Barclays Capital
Admin Agent/Doc Agent/Jt Lead Arranger, Jt Book Manager
950.0 $50MM Revolver/$900MM Term Loan
Revolver: Five-year term/Term loan: Seven-year term/Goldman Sachs: Jt lead arranger, joint book manager, syn agent
Knology
Provider/Interactive Communications, Entertainment Services
Credit Suisse, SunTrust Robinson Humphrey
Joint Lead Arrangers, Joint Bookrunners
770.0 $50MM Revolver/$175MM Term Loan A/$545MM Term Loan B
Term loans support Sunflower Broadband acquisition
CACI International
Provider/Professional Services, IT
Bank of America Merrill Lynch
Admin Agent, Joint Bookrunner
750.0 $600MM Revolver/$150MM Term Loan
Five-year term/JP Morgan Chase Bank affiliates, SunTrust, Citizens Bank of PA, Wells Fargo Bank: Joint bookrunners
Vishay Intertechnology
Manufacturer/Semiconductors, Passive Electronic Components
JPMorgan Chase Bank/J.P. Morgan Securities
Admin Agent/Lead Arranger, Jt Bookrunner
450.0 Revolver
Five-year term/Comerica, Bank Leumi USA: Jt bookrunners, co-syn agents
Bristow Group
Provider/Helicopter Services
SunTrust Bank
Admin Agent 
375.0 $175MM Revolver/$200MM Term Loan
Five-year term/JPMorgan Chase, BofA, Wells Fargo, Regions Bank, BBVA Compass: Senior lenders
O'Neal Steel
Full-Line Metal Service Center
U.S. Bank Asset Based Finance
Admin Agent, Lead Bookrunner 
350.0 Revolver
Four-year term/Supports growth
TeleTech Holdings 
Provider/Business Process Outsourcing, Revenue Generation
KeyBank 
Lead Bank
350.0 Revolver
Five-year term/Wells Fargo, BofA Merrill Lynch, JPMorgan Chase, others participated
Alliance Laundry Systems
Manufacturer/Commercial Laundry Products
BMO Capital Markets, Morgan Stanley Senior Funding
Co-Syndication Agents
345.0 $60MM Revolver/$285MM Term Loan
Revolver: Five-year term/Term loan: Six-year term/Bank of Nova Scotia, PrivateBank: Co-doc agents/BofA: Admin agent, lender
Delphi Financial Group
Provider/Integrated Employee Benefit Services
Bank of America Merrill Lynch, U.S. Bank
Joint Lead Arrangers, Book Managers
300.0 $175MM Revolver/$125MM Term Loan
Revolver: Three-year term/Term loan: Five-year term/Replaces existing $350MM facility
Buckeye Technologies
Manufacturer/Specialty Fibers, Non-Woven Materials
Bank of America 
Left Lead Arranger, Admin Agent
300.0 Revolver
Five-year term/J.P Morgan, Regions Bank: Joint lead arrangers/RBS Citizens Bank: Syn agent
Thompson Creek Metals Co
Mining Company
JPMorgan Chase Bank/Royal Bank of Canada
Admin Agent/Syn Agent
290.0 Revolver
Four-year term/J.P. Morgan Securities, RBC Capital Markets: Jt bookrunners, jt lead arrangers
CONMED 
Provider/Medical Technology
JP Morgan Chase Bank
Admin Agent 
250.0 Revolver
Five-year term/J.P. Morgan Securities, Merrill Lynch: Joint lead arrangers, joint bookrunners
Lightower Fiber Networks
Provider/Fiber Network, Broadband Services 
GE Capital Media, Communications & Entertainment
Admin Agent
230.0 $40MM Revolver/$190MM Term Loan
GE Capital Markets: Lead left bookrunner/Portion used in Lexent Metro Connect acquisition
Interline Brands
Provider/Maintenance, Repair, Operations Products
JPMorgan Chase
Admin Agent
225.0 Revolver
Five-year term
Titan Machinery 
Operator/Agricultural, Construction Equipment Stores
Wells Fargo Securities
Arranger
225.0 Revolver
Wells Fargo Bank, BofA, CoBank, U.S. Bank, Bank of the West, Bremer Bank participated/Repays facility with GE Comm'l Distribution Finance
MedQuist 
Provider/Integrated Clinical Documentation Solutions
GE Capital/SunTrust Bank
Admin Agent/Syn Agent
225.0 $25MM Revolver/$200MM Term Loan
Refinances debt/Supports acquisition of Spheris assets
Hersha Hospitality Trust
Real Estate Investment Trust
TD Bank/TD Securities (USA)
Sole Admin Agent/Lead Arranger, Book Manager
225.0 Revolver
Three-year term/Replaces existing $135MM credit facility
The Dolan Company
Provider/Services, Business Information
U.S. Bank/Wells Fargo Ban
Lead Bank/Syn Agent
205.0 Revolver
Five-year term/Associated Bank, BofA, Bank of the West, Comerica Bank participated
International Automotive Components Group NA
Supplier/Automotive Parts
GE Capital, Corporate Finance
Agent
200.0 Revolver
GE Capital Markets: Sole lead arranger
Massey Energy
Provider/Coal
UBS Securities/Deutsche Bank Securities
Sole Lead Arranger/Co-Syn Agent
200.0 Revolver
Capital One Lev Finance: Doc agent, CIT: Coll agent, co-syn agent, UBS: Admin agent, UBS Loan Finance: Swing-line lender
Shuffle Master
Provider/Gaming Supplies
Wells Fargo Securities, Banc of America Securities 
Joint Lead Arrangers, Bookrunners
200.0 Revolver
Wells Fargo: Admin agent, L/C issuer, swing line lender/BofA: Syn agent/Union Bank: Doc agent/Compass Bank, Comerica participated
Symmetry Medical
Provider/Orthopedic Implants, Instruments
J.P. Morgan Securities, Wells Fargo Bank Securities
Joint Lead Arrangers, Joint Bookrunners 
200.0 Revolver
Five-year term/JPMorgan Chase: Admin agent/Wells Fargo: Syn agent/BofA, Fifth Third, PNC: Co-doc agents/Periculum Capital Co: Placement agent
PC Mall 
Provider/Technology Products, Services
Wells Fargo Capital Finance/Merrill Lynch/Bank of America
Admin Agent, Coll Agent/Co-Ld Arranger, Co-Bookrunner/Syn Agent
180.0 Revolver
4.25-year term/PNC Bank participated
Myers Industries
Manufacturer/Polymer Products
J.P. Morgan Securities and Key Banc Capital Markets
Joint Arranger
180.0 Revolver
Five-year term/JPMorgan Chase Bank: Admin agent
BioScrip 
Provider/Specialty Pharmacy, Home Care Products
Healthcare Finance Group 
Lender, Agent
150.0 Revolver
RBC Bearings
Manufacturer/Plain, Roller, Ball Bearings
JPMorgan, KeyBanc Capital Markets
Co-Lead Arrangers
150.0 Revolver
Five-year term/BofA, Wells Fargo, RBS Citizens, Fifth Third participated
Big 5 Sporting Goods
Retailer/Sporting Goods
Wells Fargo Capital Finance/Wells Fargo Bank/Bank of America
Arranger/Admin Agent, Collateral Agent/Doc Agent
140.0 Revolver
Four-year term/PNC Bank, Union Bank participated/Repays facility with CIT Group/Business Credit, others
EasyLink Services International 
Provider/Messaging Services, E-Commerce Solutions
SunTrust Bank
Lead Lender
130.0 $20MM Revolver/$110MM Term Loan
Supports Xpedite Systems acquisition
Starwood Property Trust
Commercial Real Estate Finance Company
Bank of America 
Lender
125.2 Revolver
Three-year term/Goldman Sachs Mortgage Co. provided $150MM warehouse facility
Einstein Noah Restaurant Group 
Operator/Casual Restaurants
Bank of America/Wells Fargo Bank
Admin Agent/Syn Agent
125.0 Revolver
BofA Securities, Wells Fargo Bank: Co-lead arrangers, co-book managers
Quality Technology Services 
Provider/Data Centers, Managed Services
KeyBank/KeyBanc Capital Markets
Arranger, Admin Agent/Lead Arranger
125.0 Revolver
Citibank, Credit Suisse, Deutsche Bank Trust Co Americas, RBC participated
Michael Baker Corp.
Provider/Architecture, Engineering, Construction Services
Citizens Bank of Pennsylvania 
Lead Bank
125.0 Revolver
PNC Bank, Wells Fargo participated/Supports future acquisitions
Huttig Building Products
Distributor/Millwork, Building Materials, Wood Products
GE Capital, Corporate Finance
Agent
120.0 Revolver
GE Capital Markets: Co-lead arranger/Refinances an existing credit facility
Websense
Provider/Web, Data, E-Mail Security
Bank of America/Banc of America Securities, KeyBank
Lead Lender/Arrangers
120.0 Revolver
Five-year term/Refinances previous debt
Community Education Center
Provider/Offender Reentry, In-Prison Treatment Services
Wells Fargo Capital Finance 
ROLE
105.0 $40MM First Lien Revolver/$65MM First Lien Term Loan
Four-year term/Ares Capital, TPG Opportunities Partners provided $130MM second lien term loan
AFC Enterprises 
Franchisor, Operator/Popeyes Restaurants
JPMorgan Chase Bank/J.P. Morgan Securities, Merrill Lynch
Admin Agent/Jt Lead Arrangers, Jt Bookrunners
100.0 $60MM Revolver/$40MM Term Loan 
Five-year term/Bank of America: Syndication agent
GOJO Industries
Manufacturer/Skincare Products, Dispensing Systems
PNC Bank, Steel City Capital Funding 
Lenders
100.0 Revolver
Supports PURELL brand name acquisition /Refinances existing debt
National Health Investors
Healthcare Real Estate Investment Trust
Regions Bank
Lender
100.0 $50MM Revolver/$50MM Term Loan
Revolver: Three-year term/ Term loan: Five-year term/Replaces previous $100MM facility
Vertellus Specialties
Manufacturer/Specialty Chemicals
PNC Bank
Admin Agent
85.0 Revolver
Four-and-a-half-year term
Morton's Restaurant Group 
Operator/Company-Owned Upscale Steakhouses
Goldman Sachs Bank USA
Lender
70.0 $10MM Revolver/$60MM Term Loan
Five-year term/Replaces previous $70MM credit facility
Great Lakes Home Health and Hospice
Provider/Home Healthcare, Hospice Care 
CIT Healthcare and CIT Capital Markets
Admin Agent, Sole Bookrunner, Joint Lead Arranger
68.5 Revolver
Supports In-House Hospice acquisition/CIT Bank provided $15MM/Deal source: Pouschine Cook Capital Management
National Technical Systems
Provider/Engineering Services
Comerica Bank
Admin Agent, Joint Lead Arranger, Bookrunner
65.0 $25MM Revolving Credit Line/$20MM Term Loan/$20MM Acquisition Line
Five-year term/U.S. Bank: Jt lead arranger, syn agent/Bank of the West also participated
Sport Chalet
Retailer/Sports Equipment, Apparel, Accessories
Bank of America
Lender
65.0 Revolver
Four-year term
The Pasha Group
Provider/Transportation Services
Wells Fargo 
Lender
64.0 $35MM Revolver/$7MM Term Loan/$12MM Real Estate Loan/$10MM Commitment Letter
Arch Aluminum & Glass
Distributor/Architectural Glass, Aluminum Products
Burdale Capital Finance
Co-Lead Arranger
55.0 Revolver/Term Loan 
Three-year term/BofA: Co-lead arranger, agent/Repays previous loan
Gladstone Commercial 
Real Estate Investment Trust
Capital One
Arranger
50.0 Revolving Credit Line
Three-year term/BB&T: Lender/Replaces $50MM revolving credit line with KeyBank as agent
Celadon Group 
Provider/Long Haul Freight Services
Bank of America
Lead Arranger
50.0 Revolver
Five-year term/Wells Fargo Bank participated/Refinances existing credit facility
Hampshire Group 
Provider/Women's, Men's Apparel
Wells Fargo Capital Finance
Lender
50.0 Revolver
Four-year term/Replaces previous $48MM asset-based revolver
Wise Foods
Manufacturer/Salty Snack Foods
Ally Commercial Finance/Siemens Financial Services
Lender, Arranger/Lender, Syn Agent
48.0 Revolving Credit Line/Term Loan
Deal source: Palladium Equity Partners/Refinances existing debt
Sleep Innovations
Manufacturer/Advanced Foam Comfort Solutions
Wells Fargo Capital Finance
Sole Agent
45.0 Revolver
Four-year term/Supports refinancing strategy
BFG Supply Company
Distributor/Greenhouse, Nursery Supplies 
PNC
Lender
42.5 $35MM Revolver/$7.5MM Term Loan
Supports acquisition by Tricor Pacific Capital
Planet Fitness
Owner, Operator/Fitness Centers
GE Capital, Corporate Finance
Agent 
40.0 Revolver
GE Capital Markets: Sole lead arranger/Supports growth
EMCORE Corp
Provider/Compound Semiconductor-Based Components, Subsystems
Wells Fargo
Lender
35.0 Revolver
Three-year term/Replaces previous $14MM revolver with BofA
Alimera Sciences
Provider/Prescription Ophthalmic Pharmaceuticals
MidCap Financial/Silicon Valley Bank
Lenders
32.5 $20MM Revolving Credit Line/$12.5MM Term Loan
SVB provided revolver/Both provided term loan
HHI Group Holdings
Manufacturer/Highly Engineered Forged Components 
Bank of America Merrill Lynch
Sole Lead Arranger
30.0 Term Loan
Supports company recap
System One Holdings
Provider/Engineering, Technical Staffing Services
PNC Bank
Lender
25.0 Revolver
Funds also went to affiliate Utility Partners of America/Refinances existing debt
Enhanced Oil Resources
Provider/Oil, Natural Gas Exploration
Regions Bank
Lender
25.0 Revolver
Three-year term
ShopNBC
Multi-Media Retailer
Crystal Financial
Lead Lender
25.0 Five-year term/Replaces previous $20MM revolver
Notes
Vishay Precision Group
Producer/Sensors, Sensor-Based Systems
JPMorgan Chase Bank/RBS Citizens
Agent/Joint Bookrunner
25.0 Revolver
Video Display
Provider/Innovative Display Technology
RBC Bank
Admin Agent
24.0 $17.5MM Revolver/$6.5MM Term Loans 
Three-year term/Georgia's Community & Southern Bank participated
Compass Automotive Group
Manufacturer/Safety-Critical Automotive Components
LBC Credit Partners 
Lender
24.0 Term Loan
Deal source: Monomoy Capital Partners/Supports refinancing
P&F Industries
Manufacturer/Air-Powered Tools
Capital One Leverage Finance
Lender
22.0 $15.91MM Revolver/$6.09MM Term Note
Three-year terms/Replaces previous facility with Citibank, HSBC Bank USA
Millennium Management
Investment Management Firm
CapitalSource, CapitalSource Healthcare Credit Group
Lender
20.6 $6MM Revolver/$14.56MM Term Loa
Storage Products Group
Provider/Storage Solutions
PNC Bank
Lender
20.0 Revolver
Supports management buyout/Pegasus Capital participated
eVestment Alliance
Provider/Financial Industry's Institutional Investment Database
Silicon Valley Bank
Lender
19.0 Revolving Credit Line/Term Loan
Supports expansion, product development
Keystone Powdered Metal Company
Manufacturer/Powdered Metals Products
Huntington Bank Asset Based Group 
Lender
18.0 Revolver
SnF Management
Provider/Healthcare Services
Oxford Finance 
Lender
16.0 Revolving Credit Line/Term Loan
Supports purchase of additional properties in CA
Commercial Solutions
Distributor/Bearings, Power Transmission Equipment, Products
Bank of America
Lender
16.0 Revolver
Three-year term/Replays previous facility
Lighting Science Group
Manufacturer/LED Lighting Solutions
Wells Fargo Capital Finance
Lender
15.0 Revolver
Three-year term
Global Telecom & Technology
Provider/Internet, Managed Data Solutions
Silicon Valley Bank
Lender
15.0 $5MM Revolving Credit Line/$10MM Term Loan
Revolver: Two-year term/Term loan: Five-year term/Refinances, repays previous debt
Adams Produce Company
Distributor/Specialty Produce, Food Products
PNC
Lender
10.5 $7.5MM Revolving Credit Line/$3MM Term Loan
Deal source: CIC Partners/Supports company recap
Recellular
Seller, Recycler/Used Cell Phones, Pagers, Other Handheld Electronics
Huntington Bank Asset Based Group 
Lender
10.0 Revolver
Care Realty
Real Estate Company
CapitalSource, CapitalSource Healthcare Credit Group
Lender
9.0 Revolver
Bacterin International Holdings
Developer/Bone Graft Material, Anti-Infective Coatings
Western Technology Investment
Lender
8.0 Revolver
Middlebury Securities: Placement agent/Bridge Bank also provided $5MM in A/R financing
MSM Holding Co/Bellwright Industries
Manufacturer/Metal Components 
Keltic Financial Services
Lender
6.5 $3.5MM Revolving Credit Line, $1.5MM Term Loan/$1.5MM Revolving Credit Line
$1.5MM Revolver went to Bellwright, other debt to Mid-State Machine
New England Office Supply
Distributor/Office Products, Furniture
Webster Bank
Lender
5.6 $5MM Revolver/$.6MM Equipment Financing
Coast Radio Company
Operator/Radio Stations
Bridge Bank
Lender
5.0 $4.5MM Term Loan/$.5MM Credit Line
AdCare Health Systems
Provider/Senior Living, Healthcare Facility Management
Gemino Healthcare Finance
Lender
5.0 Revolving Credit Line
Monroe Staffing Services
Provider/Temporary Staffing, Permanent Placement 
Sterling Resource Funding 
Lender
5.0 Credit Line
EnergyConnect Group
Provider/Smart Grid Demand Response Services
Silicon Valley Bank, Partners for Growth
Lenders
4.0 Revolving Credit Line
One-year term
Black Box Distribution
Distributor/Skateboard-Lifestyle Shoes, Apparel, Skateboards
Marquette Business Credit 
Lender
4.0 Revolver
Refinances existing facility/Supports growth
Azure Dynamics
Manufacturer/Hybrid Electric, Electric Components, Powertrains
Silicon Valley Bank
Lender
4.0 Credit Line
Two-year term
StemCyte
Operator/Cord Blood Stem Cell Banks
Peninsula Bank Business Funding
Lender
2.5 Working Capital Line of Credit
Southern Pines Trucking
Provider/Transporting Hazardous, Radioactive Materials
Transportation Alliance Bank
Lender
2.0 Revolver
American Power Group
Provider/Duel Fuel Technologies
Iowa State Bank
Lender
2.0 Revolving Credit Line
Dazian
Provider/Fabric, Draperies, Custom Fabrication
Sterling National Bank
Lender
1.9 Revolving Credit Line
Replaces existing lender
Bethel Health & Rehabilitation Center
Provider/Health, Rehab Services
CapitalSource, CapitalSource Healthcare Credit Group
Lender
1.4 Revolver
Communications III
Provider/Visual Communication Networks
Thermo Credit
Lender
0.9 Revolver
Expands operations
Convo Communications
Provider/Video Relay Services for Deaf
Bridge Bank
Lender
0.5 Credit Line
All Access Telecom
International Wholesale Carrier
Thermo Credit
Lender
0.3 Revolver
Supports growth