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 |