Deal Charts

ABL Deal Chart 2011 Q1

Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 1/1/11 through 3/31/11.

BORROWER/INDUSTRY LENDER/ROLE AMOUNT STRUCTURE/NOTES
Ryerson
Distributor/Metals
GE Capital, Corporate Finance
Co-Collateral Agent
1350.0 Revolver
GE Capital Markets: Co-syn agent/Refinance existing facility
Waste Industries USA
Provider/Non-Hazardous Solid Waste Collection
Bank of America
Lead Lender
750.0 Revolver
Wells Fargo, Macquarie: Lead arrangers/SunTrust Bank: Co-doc agent
Unisource Worldwide
Provider/Customer Solutions
Bank of America Merrill Lynch, Wells Fargo, Barclays Capital
Lead Lenders
640.0 Revolver
Five-year term
National Mentor Holdings
Provider/Home, Community-Based Health, Human Services
UBS
Admin Agent
605.0 $75MM Revolver/$530MM Term Loan
Revolver: Five-year term/Term loan: Six-year term
Winn-Dixie Stores
Operator/Grocery Stores
GE Capital, Corporate Retail Finance/Wells Fargo Capital Finance
Co-Collateral Agent/Co-Coll Agent, Admin Agent
600.0 Revolver
GE Capital Markets: Joint lead arranger/Refinances existing facility
Avista
Provider/Energy Production
Union Bank/Wells Fargo Bank
Admin Agent, Issuing Bank/Syn Agent, Issuing Bank
400.0 Credit Line
Four-year term/The Bank of New York Mellon, KeyBank, U.S. Bank: Co-doc agents, lenders
Kraton Performance Polymers
Producer/Polymers, Styrenic Block Copolymers
Merrill Lynch, Credit Suisse Securities, Goldman Sachs
Jt Lead Arrangers, Jt Bookrunners
350.0 $200MM Revolver/$150MM Term Loan
Five-year term/Morgan Stanley Sr Funding, Macquarie Capital: jt lead arrangers, jt bookrunners/BofA: Admin, collateral agent
Brunswick
Provider/Marine, Fitness, Bowling-Billiards Industries
J.P. Morgan Securities
Lead Lender
300.0 Revolver
Merrill Lynch, Wells Fargo Capital Finance: Jt ld arrangers/Replaces existing $400MM revolver
AboveNet
Provider/High Bandwidth Connectivity Solutions
SunTrust
Lead Syndicator
250.0 Revolver
Five-year term/Repays existing credit facility
Coffeyville Resources
Operator/Refinery
Deutsche Bank Trust Company Americas
Admin Agent, Collateral Agent
250.0 Revolver
Three-and-a-half-year term/Replays previous credit facility
AVG Technologies
Provider/Consumer Security Software
J.P Morgan and Morgan Stanley
Arrangers
235.0 Term Loan
Five-year term
Perfumania Holdings
Retailer/Perfumes, Fragrances
Wells Fargo Bank
Admin Agent, Collateral Agent, Swing Line Lender
225.0 Revolver
Four-year term/BofA: Syn agent/Regions, RBS Biz Capital: Co-doc agents/Wells Fargo Capital Finance, Merrill Lynch: Jt lead arrangers, jt bkrunners
AccentCare
Provider/Home Healthcare Services
GE Capital, Healthcare Financial Services
Admin Agent
205.0 $25MM Revolving Credit Line/$180MM Term Loan
GE Capital Markets: Jt lead arranger, jt bookrunner/Supports Guardian Home Care Holdings acquisition
SC Fuels
Distributor/Gasoline, Diesel Products
Comerica Bank
Admin Agent, Lead Arranger
200.0 Revolver/Term Loan
PNC: Syn agent/U.S. Bank: Doc agent, Bank of the West: New lender
Griffon
Diversified Management, Holding Company
JPMorgan Chase Bank/J.P. Morgan Securities
Lenders/Lead Syndicator
200.0 Revolver
Five-year term/Replaces existing revolver
Audiovox
Marketer/Consumer Electronics Products, Accessories
Wells Fargo Capital Finance
Lead Lender
175.0 Revolver
Supports Klipsch Group acquisition
The Teaching Company
Developer/University-Level Courses
Senior Secured Loan Program
Lender
170.0 Revolver
GE Capital: Admin agent/Ares Capital: Doc agent
ArchBrook Laguna
Distributor/Electronics, Computer Products
GE Capital, Corporate Finance
Admin Agent
150.0 Revolver
GE Capital Markets: Sole lead arranger/GE Capital, Commercial Distribution Finance provided inventory financing
Tourneau
Retailer/Fine Watches
GE Capital
Admin Agent
150.0 Revolver
GE Capital Markets: Sole lead arranger
Pacer International
Provider/Freight Transportation, Global Logistics Services
Bank of America/Wells Fargo Capital Finance
Admin Agent/Co-Agent
125.0 Revolver
Five-year term
Assisted Living Concepts
Operator/Senior Living Residences
U.S. Bank
Admin Agent, Collateral Agent
125.0 Revolver
Five-year term/Compass Bank, FirstMerit Bank, Harris: Doc agents/RBS Citizens: Lender
Keystone Automotive Operations
Distributor/Aftermarket Automotive Accessories, Equipment
Goldman Sachs Lending Partners
Arranger
120.0 First Lien Term Loan
Keystone entered commitment with BofA for asset-based revolver
Motor Coach Industries International
Manufacturer/Intercity Coach Buses
Burdale Capital Finance
Co-Lead Arranger
85.0 Revolver
Four-year term/Wells Fargo Capital Finance: Lead arranger, agent
Velocity Technology Solutions
Provider/Enterprise Software Functionality
Fifth Third Bank
Lender
80.0 Revolver
Funds business expansion initiatives, strategic acquisition plans
Pregis
Provider/Foodservice Packaging, Hospital Supply Products
Wells Fargo Capital Finance
Agent
75.0 Revolver
Five-year term/Includes $30MM UK facility
United Therapeutics
Biotechnology Company
Wells Fargo Bank
Admin Agent
70.0 Term Loan
Four-year term/Bank of America: Lender
Great Lakes Home Health and Hospice
Provider/Home Healthcare, Hospice Care
Oxford Finance/CIT Healthcare
Co-Syn Agent/Admin Agent
68.5 $15MM Revolving Credit Line/$53.5MM Term Loan
Pouschine Cook Capital Management: Deal source/Supports In-House Hospice acquisition
New Star Metals
Operator/Steel Service Centers
U.S. Bank Asset Based Finance, Aurora Resurgence
Lenders
65.0 Revolver
U.S. Bank: Lead arranger
eBioscience
Manufacturer/Reagents
GE Capital, Healthcare Financial Services
Agent, Lender
55.0 $10MM Revolving Credit Line/$45MM Term Loan
GE Capital Markets: Sole lead arranger, bookrunner/Refinances existing debt
Higher One
Provider/College Business Office Operations Management
Bank of America
Admin Agent
50.0 Revolver
Impax Laboratories
Specialty Pharmaceutical Company
Wells Fargo Bank
Lender, Admin Agent
50.0 Revolving Credit Line
Four-year term/Replaces existing agreement with Wachovia
KEYW Corp
Provider/Agile Cyber Superiority, Cybersecurity Solutions
Bank of America
Lead Lender
50.0 Revolver
Three-year term/Replaces previous $17.5MM facility with BofA
Flanders
Manufacturer/Air Filtration Products
PNC Bank
Lender
45.0 Revolver
Three-year term/Refinances existing $36MM revolver
Trident Microsystems
Provider/High-Performance Semiconductor System Solutions
Bank of America
Agent
40.0 Revolver
Three-year term
Cambium Learning Group
Operator/Voyager, Sophris, Cambium Learning Technologies
Harris/Barclays Bank
Agent/Collateral Agent
40.0 Revolver
Four-year term/BMO Capital Markets and Barclays Capital: Jt lead arrangers, jt bookrunners
The Ensign Group
Provider/Skilled Nursing, Assisted Living Services
RBS Asset Finance
Lender
35.0 Term Loan
Seven-year term
Ark Holdings
Provider/Skilled Nursing
CapitalSource
Lender
35.0 Revolver
Five-year term/Deal Source: Behrman Capital/Supports HMR Advantage Health Systems acquisition
Anacor Pharmaceuticals
Developer/Small-Molecule Therapeutics
Oxford Finance/Horizon Technology Finance
Lead Lender/Lender
30.0 Revolver
CarePoint Partners
Provider/Pharmacy, Related Services
Amalgamated Capital
Co-Lead Arranger, Syn Agent
27.0 Revolver
Deal Source: Waud Capital Partners/Supports refinancing
Ukpeagvik Inupiat Corporation
Provider/Social, Economic Resources
PNC Bank
Lender
25.0 Revolver
Refinances existing debt
Tripwire
Provider/IT Security, Compliance Automation Solutions
U.S. Bank/Silicon Valley Bank
Admin Agent/Joint Lender
25.0 Revolver
Three-year term
Ritz and Wolf Camera & Image
Provider/Cameras, Imaging
Crystal Financial
Lender
25.0 Revolving Credit Line/Term Loan
Refinances existing debt/Supports future growth
OCZ Technology Group
Provider/Solid-State Drives for Computing Devices
Silicon Valley Bank
Lender
25.0 Revolver
One-year term/Replaces previous factoring agreements with SVB, Faunus Group International
Montachem International
Distributor/Thermoplastic, Plastic Resin, Masterbatches, Additives
PNC Bank
Lender
20.0 Revolver
Refinances existing debt
Ligand Pharmaceuticals
Developer/Small-Molecule Drugs, Recombinant DNA Proteins
Oxford Finance
Lender
20.0 Term Loan
Three-and-a half-year term/Supports CyDex Pharmaceuticals acquisition
Charming Charlie
Retailer/Women's Fashion Accessories, Handbags
Wells Fargo Capital Finance
Lender
20.0 Revolver
Supports company's growth plans
Ligand Pharmaceuticals
BioPharma Company
Oxford Finance
Lender
20.0 Revolver
Supports CyDex Pharmaceuticals acquisition
Intuity Medical
Developer/Technologies in Diabetes Management
Silicon Valley Bank, Oxford Finance
Lenders
20.0 Revolver
Mansfield Plumbing Products
Manufacturer/Plumbing Fixtures, Fittings
PNC Bank
Lender
16.3 Revolver
Refinances existing debt
DTLR
Retailer/Young Male Lifestyle Products
Wells Fargo Capital Finance
Admin Agent
15.0 Revolver
Replaces existing facility with another lender
Appliance Recycling Centers of America
Recycler/Household Appliances
PNC Bank
Lender
15.0 $15MM Revolving Credit Line/$2.5MM Term Loan
Three-year term/Replaces credit line, term loan with Spectrum Commercial Services
Factory Connection
Retailer/Apparel, Accessories, Shoes
Wells Fargo Capital Finance
Lender
15.0 Revolver
Madison Kipp
Producer/Precision Machined Components, System Subassemblies
First Capital
Lender
13.2 $10.5MM Credit Line/$2.6MM Term Loan
Replaces previous working capital facility
XDx
Developer/Non-Invasive Gene Expression Testing
GE Capital, Healthcare Financial Services
Sole Lender
12.5 term loan
Oncothyreon
Developer/Therapeutic Cancer Treatment Products
GE Capital, Healthcare Financial Services
Lender
12.5 Term Loan
Supports clinical development activities
Ashley Stewart
Retailer/Plus-Size Fashion
TD Bank
Lender
12.0 Revolver
TD Bank's Commercial Lending Group arranged ABL/Supports future growth
Optical Experts Manufacturing
Provider/Optical Media Products, Services
Cole Taylor Business Capital
Lender
10.0 Revolver
Refinances existing indebtedness
Zanett
Provider/Consulting services
PNC Bank
Lender
10.0 Credit Line
Three-year term
Princess House
Distributor/Cookware, Tabletop, Home Products
Webster Business Credit
Lender
9.0 Revolver/Term Loan
Liberator Medical Holdings
Provider/Medical Supplies
PNC Financial Services Group
Lender
8.5 Credit Line
Supports growth
Inuvo
Provider/Online Marketing Services
Bridge Bank
Lender
8.5 $8MM Revolver/$.47 Term Loan
Two-year term/Replaces $5MM revolver with Wachovia
Regency International Business Corp
Distributor/Christmas Decor, Home Accent Products
Sterling National Bank
Lender
7.0 Credit Line
Westlake Plastics
Manufacturer/Molded Plastic Shapes, Film
New Star Business Credit
Lender
6.5 Revolving Credit Line/Term Loan/CAPEX Facility
Halvor Lines
Provider/Transportation, Logistics Services
TAB Bank
Lender
5.0 Revolver
Spar Group
Provider/Merchandising, Marketing
Sterling National Bank
Lender
5.0 Revolving Credit Line
Supports future acquisitions
Comprehensive NeuroScience, Care Management Technologies
Provider, Nervous System Disorders Research/Provider, Behavior Health Analysis
Oxford Finance
Lender
5.0 Revolving Credit Line
Vanguard Healthcare Services
Operator/Skilled Nursing Care Facilities
Oxford Finance
Lender
5.0 $.8MM Revolving Credit Line/$4.2MM Term Loan
Supports acquisition of new Tennessee property
Bacterin International Holdings
Manufacturer/Biologics Products
Bridge Bank
Lender
5.0 Revolving A/R Line
Two-year term
AllianceCare
Provider/Home Health Services
Gemino Healthcare Finance
Lender
5.0 Revolving Credit Line
Refinances existing debt
SynergEyes
Provider/Hybrid Contact Lens Technology
Oxford Finance
Lender
5.0 $2.5MM Revolving Credit Line/$2.5MM Term Loan
Impact Solutions Consulting
Provider/Business Intelligence
TAB Bank
Lender
4.5 Revolver
Network FOB
Provider/Business-to-Business Shipping
Peninsula Bank Business Funding
Lender
4.0 Credit Line
AirXpanders
Developer/Tissue Expansion Technology for Surgery
Oxford Finance
Lender
3.0 Working Capital Line
WealthEngine
Provider/Prospect Research Tools, Analytics
Comerica Bank
Lender
2.5 Revolver
Supports technical infrastructure, product development
Calibre International
Importer/Promotional Products
Marquette Business Credit
Lender
2.5 Revolver
Refinances previous revolving credit line
JM Oilfield Service
Provider/Transportation Services
TAB Bank
Lender
2.0 Revolver
NMT Medical
Manufacturer/Proprietary Implant Technologies
LSQ Funding
Lender
2.0 Revolver
One-year term
Sungevity
Designer/Solar Lease Program for Homeowners
Bridge Bank
Lender
2.0 Credit Line
Vuzix
Supplier/Video Eyewear Products
Bridge Bank
Lender
2.0 Revolving Credit Line
Two-year term
Passaic Rubber Company
Manufacturer/Rubber Rollers, Belting, Calendered Materials
Keltic Financial Services
Lender
1.3 $1MM Revolving Credit Line/$.25MM Term Loan
Point.360
Provider/Integrated Media Management Services
Crestmark Bank
Lender
1.0 Revolver
Repays previous revolving, term loan debt
Bedford Materials
Provider/Development, Electrical Insulating Materials
Marquette Commercial Finance
Lender
1.0 Revolver
Supports growth
Eagle Manufacturing
Provider/Metal Stamping
BrightWay Capital
Lender
1.0 Revolver
Supports orders from customer Electrolux