Deal Charts

ABL Deal Chart 2012 Q1

Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 1/1/12 through 3/31/12.

BORROWER/INDUSTRY LENDER/ROLE AMOUNT STRUCTURE/NOTES
Life Technologies
Manufacturer/Molecular Diagnostic, Research Use Only Products
Bank of America
Admin Agent, Swing Line Lender, L/C Issuer
750.0 Revolver
Tronox
Producer/Titanium Dioxide Pigment
Goldman Sachs Bank USA, Deutsche Bank Securities
Joint Bookrunners
700.0 Term Loans
Wells Fargo Capital Finance amended its existing revolver
EVRAZ North America
Manufacturer/Steel
GE Capital, Corporate Finance
Admin Agent
610.0 Revolver
GE Capital Markets: Jt Ld Arranger, Jt Bookrunner
RailAmerica
Operator/Short-Line, Regional Freight Railroads
Morgan Stanley, Citigroup Global Markets, Deutsche Bank Securities
Lead Arrangers
585.0 Revolver/Term Loan
Term Loan: Seven-year term/BMO Cap Mkts: Jt bookrunning mgr/Citibank, Morgan Stanley, BMO Harris Bank, Deutsche Bank financed revolver
Halcon Resources
Operator/Energy Company
J.P. Morgan Chase Bank
Admin Agent, Ld Arranger
500.0 Revolver
Five-year term/Replaces previous revolver
Freescale Semiconductor
Provider/Embedded Processing Solutions
Citibank
Admin Agent
500.0 Term Loan
Seven-year term
TNS
Provider/Data Communications, Interoperability Solutions
SunTrust Robinson Humphrey, Bank of America Merrill Lynch
Joint Lead Arrangers
450.0 $100MM Revolver /$350MM term loan
Five-year term/Repays existing facilities
Kaydon
Manufacturer/Performance-Critical Products
JP Morgan Chase Bank
Admin Agent
400.0 $250MM Revolving/$150MM Term Loan
Five-year term
Lightower Fiber Networks
Provider/Metro Fiber, Bandwidth Service
GE Capital's Telecom, Media and Technology
Admin Agent
380.0 Revolver
GE Capital Markets: Jt bookrunner, jt ld arranger
NPC International
Operator/Pizza Hut Restaurants
Barclays, Goldman Sachs Bank USA
Jt Ld Arrangers, Jt Bookrunners
375.0 Term Loan
Shale-Inland Holdings
Supplier/Refining, Petrochemical Production Products
GE Capital, Corporate Finance
Admin Agent
350.0 Revolver
Support acquisition of HD Supply Industrial PVF/GE Cap Mks: Sole bookrunner, jt ld arranger
Pinnacle Entertainment
Operator/Casinos
Barclays Capital
Admin Agent
325.0 Term Loan
Seven-year term/Merrill Lynch, J.P. Morgan Securities: Jt ld arrangers, jt bookrunners
Federal Signal
Provider/Environmental, Safety, Transportation Solutions
TPG Specialty Lending/Wells Fargo Capital Finance, GE Capital Corporate Finance
Agent, Sole Ld Arranger/Co-Collateral Agents
315.0 $100MM Revolver/$215MM Term Loan
Five-year term/TPG: lender for term loan/WFCF, GE: lenders for revolver/WFCF: admin agent
Oceaneering International
Provider/Oilfield Engineered Services, Products
Wells Fargo Securities and DNB Markets
Jt Ld Arrangers, Jt Bookrunners
300.0 Revolver
Five-year term/Wells Fargo: Admin agent, DNB: Syn agent. HSBC Bank, JPMorgan Chase, BofA, Barclays participated
Steel Dynamics
Producer, Recycler/Steel, Metals
Merrill Lynch, PNC Capital Markets, Wells Fargo Securities
Jt Bookrunners, Ld Arrangers
275.0 Term Loan
Five-year term/Term loan is in addition to $1.1B revolver
Noranda Aluminum Holding
Producer/Aluminum Products
Bank of America
Admin Agent
250.0 $250MM Revolver
Refinancing also included seven-year $325MM term loan
American Dental Partners
Partner/Dental Group Practices
KeyBank, CIT Capital Securities, NXT Capital
Jt Bookrunning Managers
241.0 $36MM Revolver/$205MM Term Loan
Supports acquisition of American Dental Partners
Alorica
Provider/Outsourced Customer Management Solutions
Bank of America Merrill Lynch
Sole Ld Arranger, Sole Bookrunner
200.0 Revolver
Five-year term/Wells Fargo, Bank of the West, BBVA Compass, HSBC, Union Bank participated
Implus Footcare
Provider/Footwear, Outdoor, Fitness Accessories
Senior Secured Loan Program
Jt Ld Arrangers, Jt Bookrunners
180.0 Term Loan
Supports acquisition by Trilantic Capital Partners/GE Capital provided $40MM revolver
Tensar
Provider/Specialty Products, Engineering Services
GE Capital
Admin Agent
175.0 Revolver
Driven Brands
Franchisor/Automotive Aftermarket Services
Senior Secured Loan Program
Jt Ld Arrangers, Jt Bookrunners
170.0 Term Loan
Supports acquisition by Harvest Partners/GE Capital provided a $15MM revolver
Molina Healthcare
Provider/Medicaid-Related Solutions
U.S. Bank Healthcare
Sole Ld Arranger, Sole Bookrunner, Admin Agent
170.0 Revolver
Nexteer Automotive
Provider/Steering, Driveline Systems
Wells Fargo Capital Finance
Agent
165.0 Revolver
Business Finance unit provided financing/Comerica Bank, Citizens Bank of Michigan participated
CIBT Holdings
Provider/Expedited Travel Document Processing Services
Senior Secured Loan Program
Jt Ld Arrangers, Jt Bookrunners
158.0 Revolver
Supports acquisition by ABRY Partners/GE Capital provided $30MM loan, $10MM revolver
ThermaSys
Manufacturer/Heat Exchanges, Components
GE Antares
Admin Agent
142.0 Revolver
Supports acquisition by Wellspring Capital Mgmt/GE Cap Markets: Sole ld arranger, bookrunner
Brookstone
Retailer/Consumer Products
Wells Fargo Capital Finance
Lender
140.0 $100MM Revolver/$15MM Term Loan/$25MM Accordion Facility
Retail Finance, Retail Junior Capital teams provided financing/Refinances existing debt
RagingWire Data Centers
Provider/Data Centers
Bank of America
Lead Lender
140.0 Revolvers
Five-year term/Supports growth
Vantage Data Centers
Developer/Pure-Play Wholesale Data Center
Royal Bank of Canada/KeyBank, Bank of America
Admin Agent/Co-Syn Agents
135.0 Revolver
Barclays Bank, Raymond James Bank, UBS Loan Finance participated
PetroChoice
Distributor/Vehicle Lubricants
Senior Secured Loan Program
Lender
130.0 Term Loan
Supports acquisition by Greenbriar Equity Gp/GE Antares Cap provided $15MM revolver /GE Cap Markets, Ares: Jt Arrangers, jt bookrunners
Ryan
Provider/Tax Services
Bank of America
Lead Lender
100.0 Revolver
Comerica Bank, Citibank, Fifth Third Bank participated
Global Power Equipment Group
Provider/Equipment, Services
Wells Fargo Bank/Wells Fargo Securities, U.S. Bank
Admin Agent/Co-Ld Arrangers
100.0 Revolver
Five-year term/Supports strategic growth
Exactech
Developer/Bone, Joint Restoration Products
SunTrust Robinson Humphrey
Lead Lender
100.0 $70MM Revolver/$30MM Term Loan
BBVA Compass, HSBC, Synovus Bank, Hancock Bank participated
Federal Signal
Manufacturer/Safety, Security Products
GE Capital
Co-Collateral Agent
100.0 Revolver
Refinance debt
Bashas’
Operator/Grocery Chain
GA Capital
Admin Agent, Collateral Agent
95.0 Term Loan
Three-year term/Stone Tower Capital affiliate, Tennenbaum Capital Partners funds, WFCF, GB Merchant participated
Motorcar Parts of America
Remanufacturer/Alternators, Starters
Cerberus Business Finance, PNC
Lenders
95.0 $20MM Revolver/$75MM Term Loan
PNC provided revolver/Cerberus provides term loan/Replaces previous $55.5MM facility
American Apparel
Manufacturer/Fashion Apparel
Crystal Financial/Salus Capital Partners
Admin Agent/Doc Agent
80.0 $50MM Revolver/$30MM Term Loan
Three-year term
Talbots
Retailer/Women's Apparel, Accessories
Wells Fargo Bank
Lender
75.0 Term Loan
Five-year term/GE Capital, Corporate Retail Finance amended its $200MM revolver
The Telx Group
Provider/Interconnection, Data Center Services
Morgan Stanley Senior Funding, TD Securities
Ld Arrangers
75.0 Term Loan
Penn Power Group
Provider/Technology, Services Solutions
Senior Secured Loan Program
Jt Ld Arrangers, Jt Bookrunners
66.0 Term Loan
Supports acquisition by NGP Energy Tech Partners, Juggernaut Cap Partners, Ares mgmt/GE Capital provided $15MM revolver
Navarro Discount Pharmacy
Retailer/Community Drug Store
GE Capital, Corporate Retail Finance
Admin Agent, Sole Lender
65.0 Revolver
Refinances debt
Paradigm Management Services
Provider/Medical Management Services
GE Capital
Admin Agent
65.0 First Lien Revolver
Support acquisition by Lightyear Capital/GE Capital Markets: Jt ld arranger, jt bookrunner
American Reprographics Company
Provider/B2B Document Management Technology, Services
Wells Fargo Bank/Wells Fargo Capital Finance
Lender/Arranger
50.0 Revolver
Four-and-a-half-year term/Replaces existing $50MM revolver
Forest Resources
Manufacturer/Recycled Paper, Packaging
GarMark Partners, LBC Credit Partners
Co-Ld Arrangers, Co-Doc Agents
48.0 $38MM Second Lien Term Loan/$10MM Equity
Consolidates Canadian, U.S. debt
Lifoam Industries
Manufacturer/Polystyrene, Polyurethane, Refrigerant Products
NXT Capital
Sole Ld Arranger, Sole Bookrunner, Admin Agent
46.0 Revolver
Supports recap by American Capital
Genoa Healthcare Holdings
Operator/Specialty Pharmacies
Healthcare Finance Group
Co-Ld Arranger, Jt Bookrunner, Syn Agent, Collateral Mgr
44.5 $9.5MM Revolver/$35MM Term Loan
Support growth, equity investment by Beecken Petty O'Keefe & Co.
ValueVision Media
Operator/ShopNBC
PNC Bank
Lender
40.0 Revolver
LAI International
Provider/Engineered Finished Parts, Components
Monroe Capital
Lender
37.1 Revolver
Supports acquisition by RLJ Equity Partners
Schuff International
Provider/Integrated Steel Construction Services
GB Merchant Partners
Agent
30.0 Term Loan
Debt Investment Group provided financing
Thermal Solutions Manufacturing
Manufacturer/Heat Exchange, Temperature Control Products
Monroe Capital
Lender
25.5 Revolver
Supports acquisition of Heavy Duty division of Vista-Pro Auto by Resilience Capital Partners
Ultra Diamonds
Operator/Fine Jewelry Chain
Wells Fargo Capital Finance
Lender
25.0 Revolver
Retail Finance team provided financing
Zhone Technologies
Provider/ IP Multi-Service Access Solutions
Wells Fargo Capital Finance
Lender
25.0 Revolver
Two-year term/Replaces previous facility with Silicon Valley Bank
American & Efird
Manufacturer/Industrial Sewing Thread
Kayne Anderson Senior Credit Partners
Lender
22.5 Term Loan
Supports acquisition by KPS Capital Partner
The Ensign Group
Operator/Skilled Nursing, Rehab, Hospice Care, Assisted Living Companies
RBS Asset Finance
Lender
21.5 Term Loan
Seven-year term
Benton-Georgia
Supplier/Natural Gas Pipeline Construction Services
Monroe Capital
Lender
21.0 Term Loan
Supports acquisition of company by Dale LeFebvre/Monroe provided equity investment with Wells Fargo
Ernest Health
Operator/Rehab, Acute Care Hospitals
CIT Healthcare
Arranger
20.0 Revolver
CIT Bank provided financing
BioPharm Communications
Developer/Promotional Medical Education Programs
Abacus Finance Group
Admin Agent, Sole Ld Arranger
18.5 Revolver
Supports recap by Southfield Capital/Boathouse Cap, CMS Mezzanine provided mezzanine financing
True Science
Distributor/Pet Medications, Baby Products
NewStar Business Credit
Lender
18.0 Revolver
Provides expansion capital to support growth
SolomonEdwardsGroup
Provider/Business Advisory, Professional Staffing
First Niagara Commercial Finance
Lender
17.5 Revolver
Refinances prior credit facility
DynTek
Provider/Professional Technology Services
Union Bank
Lender
15.0 Revolver
Three-year term
Vitae Pharmaceuticals
Manufacturer/Pharmaceuticals
Oxford Finance, Silicon Valley Bank
Lenders
15.0 Revolver
Supports drug development programs
BG Medicine
Developer/Novel Biomarker-Based Diagnostics
GE Capital, Healthcare Financial Services, Comerica Bank
Lenders
15.0 Term Loan
BG Medicine
Developer/Biomarker-Based Diagnostics
GE Capital, Healthcare Financial Services
Lender
15.0 Term Loan
Supports commercialization efforts
Akron Hardware Consultants
Distributor/Architectural Hardware, Products
FirstMerit Bank Business Credit
Lender
13.8 Revolver/Term Loan
Supports acquisition/Refinances existing debt
Benore Logistic Systems
Provider/Logistics
Huntington Bank Asset Based Lending
Lender
13.0 $9MM Revolver/$4MM Equipment Lease
Refinance existing debt, purchase equipment
Miss Matched
Operator/LittleMissMatched locations
Salus Capital Partners
Lender
12.5 Revolver
Refinances existing facility
Hanover Direct
Marketer/Branded Merchandise
Capital One Leverage Finance
Lender
12.0 Revolver
Three-year term/Refinances existing debt
WPCS International
Provider/Design-Build Engineering Services
Sovereign Bank
Lender
12.0 Revolver
Three-year term/Replaces existing credit facility
XOMA
Developer/Antibody Therapeutics
GE Capital, Healthcare Financial Services
Lender
10.0 Term Loan
American Guard Services
Provider/Guard Services, Ancillary Security Operations
Lawrence Financial Group
Lender
10.0 Revolver
Supports growth, expansion
AMG Huntington Beach
Supplier/Precision Machined Components
Cole Taylor Business Capital
Lender
10.0 Revolver
Teton Buildings
Manufacturer/Remote Workforce Facilities, Modular Buildings
Capital One Bank
Lender
10.0 Revolver
Three-year term
Personnel Plus
Provider/Staffing Positions
Lawrence Financial Group
Lender
10.0 Revolver
Supports growth
Mevio Entertainment Networks
Producer/Short Form Video Entertainment
ORIX Venture Finance
Lender
10.0 $3MM Revolver/$7MM Term Loan
Expands production capabilities, technology
Energy Manufacturing Company
Manufacturer/Hydraulic Cylinders, Valves
FirstMerit Bank Business Credit
Lender
9.9 Revolver/Term Loan
Deal Sources: Eastport Operating Partners, PNC Erieview Capital/Refinances existing debt
Extreme Reach
Provider/Video Ad Management, Distribution
TD Bank
Lender
9.0 Revolver
Funds strategic acquisitions
Benchmark Healthcare
Provider/Skilled Nursing Services
Oxford Finance
Lender
8.5 $1MM Revolver/$7.5MM Term Loan
Refinances existing debt
Doctors Medical Center
Operator/Acute Care Hospital
Gemino Healthcare Finance
Lender
8.0 Revolver
AssureRx Health
Operator/Medicine Company
Silicon Valley Bank
Lender
8.0 Revolver/Term Loan
Brady Distributing Co.
Distributor/Arcade, Vending Machines
First Capital
Lender
8.0 Revolver
Support company's growth
HB&G Building Products
Manufacturer/Millwork, Columns, Posts
Cole Taylor Business Capital
Lender
8.0 Revolver
Butler-Johnson
Distributor/Premium Surfacing Solutions
US Capital Partners, First Capital
Lead Arranger
7.8 $7MM Revolver/$.75MM Term Loan
Gardner Glass Products
Producer/Mirror, Glass Products
First Capital
Lender
7.5 $6.5MM Revolver/$1MM Term Loan
Support turnaround strategy
American Micro Products
Manufacturer/Machined Components, Connectors
FirstMerit Bank Business Credit
Lender
7.5 Revolver/Term Loan
Refinances existing debt
Cambridge Broadband Networks
Manufacturer/Microwave Backhaul Solutions
Silicon Valley Bank
Lender
7.0 Revolver
Supports growth
Samtex Fabrics
Wholesaler/Fabrics
First Capital
Lender
7.0 Revolver
CAPS Visual Communication
Provider/Marketing, Production Services
NewStar Business Credit
Lender
6.7 Revolver
Provides expansion capital to support growth
FiberLink
Owner/Fiber Optic Transmission Lines
Bridge Bank
Lender
6.0 Term Loan
Western Flyer Express
Operator/Truck, Trailer Fleet
TAB Bank
Lender
6.0 Revolver
O&S Trucking
Provider/Temperature-Controlled Transportation Services
TAB Bank
Lender
6.0 Revolver
Coral Industries
Manufacturer/Bath, Shower Enclosures
TAB Bank
Lender
6.0 Revolver
Falls Stamping and Welding Co
Provider/Metal Stamping, Design, Fabrication
FirstMerit Bank Business Credit
Lender
6.0 Revolver
Refinances existing debt
Latitude Solutions
Provider/Wastewater Remediation Solutions
Crestmark Bank
Lender
5.0 Revolver
Advanced Photonix
Supplier/Optoelectronic Products
Silicon Valley Bank
Lender
5.0 Revolver
Two-year term/SVB also provided $1MM term note/Repays debt from The PrivateBank and Trust
Source Broadband Services, Source Power Services
Provider/Engineering, Construction, Maintenance Services
Keltic Financial Services
Lender
4.0 Revolver
Tenth Street Capital provided additional financing
Corinth Investor Holdings
Holding Company/Atrium Medical Center
Healthcare Finance Group
Lender
4.0 Revolver
Nash Oil Company
Distributor/Gasoline
Keltic Financial Services
Lender
3.3 $2.5MM Revolver/$.75MM Term Loan
MedShape
Developer/Medical Devices
GE Capital, Healthcare Financial Services
Sole Lender, Admin Agent
3.0 Term Loan
Mobiquity
Provider/Mobile Professional Services
Comerica Bank
Lender
3.0 Revolver
Technology & Life Sciences Division provided the financing
Active Ride Shop
Operator/Sports Clothing Retail Chain
Marquette Business Credit
Lender
3.0 Revolver
Supports growth
Jagged Peak
Provider/eCommerce Solutions, Supply Chain Services
Fifth Third Bank
Lender
3.0 Revolver
Two-year term/Replaces previous facility
Help Remedies
Distributor/OTC Pharmaceutical Solutions
First Capital
Lender
2.5 Revolver
Support growth
Classic Packaging Company
Printer/Poly Bags, Films
Keltic Financial
Lender
2.1 $1.75MM Revolver/$.36MM Term Loan
Jones Soda Co
Distributor/Premium Beverages
Access Business Finance
Lender
2.0 Revolver
Funding goes to Jones Soda (Canada) and Jones Soda Co.
Urologix
Manufacturer/Medical Products
Silicon Valley Bank
Lender
2.0 Revolver
Grant & Weber
Provider/Receivables Management
Lawrence Financial Group
Lender
2.0 Revolver
Infiniti Media & Infiniti Plastic Technology
Manufacturer/DVD, CD Cases
Lawrence Financial Group
Lender
2.0 Revolver
Microphase
Manufacturer/Electronic Devices
Gerber Finance
Lender
1.5 Revolver
Cold Spring Holdings
Operator/Skilled Nursing Facilities
Oxford Finance
Lender
1.0 Revolver