Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 10/1/12 through 12/31/12.
BORROWER/INDUSTRY | LENDER/ROLE | AMOUNT | STRUCTURE/NOTES | |||
---|---|---|---|---|---|---|
Sirius XM Radio Operator/Radio Broadcasting Company |
J.P. Morgan Bank Admin Agent |
1250.0 | Revolver Five-year term/J.P. Morgan Securities, Merrill Lynch, Citigroup Global Mkts, others: joint bkrunners |
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OSI Restaurant Partners Operator/Restaurant |
Deutsche Bank Trust Company Americas Admin Agent |
1225.0 | $225MM Revolver/$1B Term Loan B Deutsche Bank Securities, Merrill Lynch: Jt Ld Arrangers, Jt Bkrunners/Goldman Sachs, others: Jt Bkrunners, Co-Doc Agents |
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Calpine Provider/Power |
Morgan Stanley, Barclays, Deutsche Bank, RBC Lead Arrangers |
835.0 | Term Loan Five- or eleven-year term |
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Wesco Aircraft Holdings Provider/Supply Chain Management Services |
Merrill Lynch, Barclays Bank Joint Lead Arrangers |
825.0 | $200MM Revolver/$625MM Term Loan Five-year term/Merrill Lynch, Barclays, J.P. Morgan Sec, Morgan Stanley Sr Funding, others: Jt bookrunners |
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MRC Global Distributor/Pipe |
Valve | Fittings | Banc of America Admin Agent |
650.0 | Term Loan Seven-year term/Goldman Sachs Lending Ptnrs, Merrill Lynch, Barclays Bank, Wells Fargo Sec: Jt ld arrangers, jt bkrunners |
|
Portfolio Recovery Associates Provider/Financial and Business Services |
Bank of America Merrill Lynch, Wells Fargo Securities, SunTrust Bank Co-Lenders |
600.0 | Revolver Five-year term/Contains accordion feature that can increase of up to $250MM |
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Kaman Corp Provider/Business |
Aerospace | Industrial Markets | J.P. Morgan Securities, Merrill Lynch, RBS Citizens Jt Bookrunners, Jt Lead Arrangers |
500.0 | $400MM Revolver/$100MM Term Loan Five-year term/Replaces prior $317.5MM facility |
|
Alon USA Energy Refiner |
Marketer/Petroleum Products | Credit Suisse Securities, Goldman Sachs Lending Partners Co-Lenders |
450.0 | Revolver Repays outstanding debt |
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Leap Wireless International Provider/Wireless Services |
Deutsche Bank Securities, Merrill Lynch, UBS Securities Jt Bkrunners, Jt Ld Arrangers |
400.0 | Term Loan Seven-year term/Closed for subsidiary Cricket Communications |
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Emerald Oil Operator/Oil Exploration |
Production | Wells Fargo Bank Lender |
400.0 | Revolver |
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Rentech Nitrogen/Rentech Nitrogen Partners Manufacturer/Nitrogen Fertilizer Products |
GE Capital, Corporate Finance Admin Agent |
300.0 | Revolver Supports acquisition of Agrifos LLC/GE Capital Markets: Sole ld arranger, bkrunner |
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Zebra Technologies Provider/Technologies |
J.P. Morgan Securities, RBS Citizens Jt Bkrunners, Jt Ld Arrangers |
250.0 | Revolver Five-year term/Replaces previous $100MM revolver |
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Collective Brands Provider/Lifestyle |
Fashion | Athletic Footwear | Accessories | Wells Fargo Capital Finance Lead Lender |
250.0 | Revolver Retail Finance led the deal/Supports acquisition by Golden Gate Capital, Blum Capital |
Furniture Brands International Supplier/Home Furnishings |
GE Capital, Corporate Finance Admin Agent |
200.0 | Revolver GE Capital Markets: Jt ld arranger, bookrunner/Refinances existing debt |
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Higher One Provider/Higher Education Services |
Bank of America Admin Agent |
200.0 | Revolver Fiver-year term |
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Selig Sealing Products Manufacturer/Container Sealing Products |
Senior Secured Loan Program Lender |
180.0 | Term Loan GE Cap Mkts, Ares: Jt ld arrangers, jt bkrunners/Supports refinancing by Behrman Capital |
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Rand Logistics Provider/Bulk Freight Shipping Services |
GE Capital, Corporate Finance Lead Agent |
173.0 | Revolver GE Capital Markets: Ld arranger, bookrunner/Refinances current debt |
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CBR Systems Provider/Stem Cell |
Tissue Collection | Storage Services | BMO Harris Bank Jt Ld Arranger, Sole Bkrunner, Admin Agent |
165.0 | Revolver Supports acquisition by GTCR |
|
Sunrise Coal Operator/Underground Coal Mine |
PNC Bank Lead Lender |
165.0 | Revolver Five-year term/BB&T, Union Bank, First Merchants, First Financial, others participated |
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Ixia Provider/Data CenterTest |
Monitoring Solutions | Bank of America Merrill Lynch/Bank of America Sole Ld Arranger, Sole Bkrunner/Admin Agent |
150.0 | Revolver Four-year term/U.S. Bank, Silicon Valley Bank, HSBC Bank USA, Barclays Bank, Stifel Bank & Trust, Deutsche Bank Trust Company Americas participated |
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Convergint Technologies Provider/Integration Services |
Ally Commercial Finance Agent, Structurer |
142.5 | $22.5MM Revolver/$120MM Term Loan Refinances existing debt |
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Hilex Poly Co. Manufacturer/Recycled Plastic Bags |
GE Antares Admin Agent |
140.0 | Revolver Supports acquisition by Wind Point Partners/GE Capital Markets: co-ld arranger, sole bkrunner |
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Orchard Supply Hardware Stores Provider/Home Improvement Supplies |
Wells Fargo Capital Finance/Bank of America Admin & Collateral Agent/Syndication Agent |
127.5 | $120MM Revolver/$7.5MM Term Loan Five-year term/WCFC, Merrill Lynch: jt ld arrangers, jt bkrunners |
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NYDJ Apparel Provider/Jeans |
LBC Credit Partners Jt Ld Arranger, Bookrunner, Doc Agent |
127.5 | Revolver Support recap of NYDJ Apparel |
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Drayer Physical Therapy Institute Operator/Outpatient Physical Therapy Clinics |
Senior Secured Loan Program Lender |
125.0 | Term Loan GE Cap Mkts, Ares: Jt ld arrangers, jt bkrunners/Supports acquisition by GS Capital Partners |
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A J Walter Provider/Aircraft Spare Parts |
CIT Capital Securities Lead Arranger |
125.0 | Revolver Supports spare parts acquisitions/CIT Aerospace & Defense Finance: admin agent for the transaction/Financing by CIT Bank |
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Enviva Supplier/Wood Pellets |
Biomass Fuel | Barclays Bank, Goldman Sachs, Royal Bank of Canada Jt Ld Arrangers,Jt Bookrunners |
120.0 | Revolver |
||
FCX Performance Provider/Flow Control Equipment |
Services | BMO Harris Bank Jt Ld Arranger, Jt Bkrunner, Admin Agent |
114.0 | Revolver Sponsor Finance group led the deal/Supports acquisition by Harvest Partners |
||
Columbus Manufacturing Producer/Italian Cured Meats |
GE Capital Admin Agent |
105.0 | Revolver GE Capital Markets: Ld Arranger, Bkrunner/Supports acquisition by Arbor Investments |
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Fieldbrook Foods Manufacturer/Private Label Frozen |
Ice Cream Products | BMO Harris Bank Sole Ld Arranger, Sole Bkrunner, Admin Agent |
102.0 | Revolver Sponsor Finance group completed the deal |
||
Tile Shop Holdings Retailer/Stone Tiles |
Bank of America/Bank of America Merrill Lynch Admin Agent/Sole Ld Arranger, Bk Manager |
100.0 | $75MM Revolving Credit Line/$25MM Term Loan Five-year term/Huntington National Bank: Syn agent |
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Teletrac Provider/Fleet Management Devices |
Systems | Wells Fargo Capital Finance Co-Lead Lender |
100.0 | Revolver Refinances existing senior debt |
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GA Telesis Provider/Commercial Aerospace |
PNC Bank Lead Lender |
100.0 | Revolver Three-year term/Supports growth |
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Basin Electric Power Cooperative Operator/Electric Generation |
Transmission Cooperatives | AIG Commercial Asset Finance Lender |
100.0 | Revolver Supports construction of two electrical generating stations |
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Teletrac Provider/Fleet Management Software Systems |
Wells Fargo Capital Finance, Capital One Bank Co-Lead Lender |
100.0 | Revolver Refinances existing senior indebtedness |
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Ignite Restaurant Group Operator/Two Restaurant Brands |
KeyBank, Bank of America Jt Ld Arrangers, Jt Bkrunners |
100.0 | Revolver Five-year term/Refinances existing debt |
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Epic Health Services Provider/Healthcare Services |
CIT Healthcare Sole Ld Arranger, Bkrunner, Admin Agent |
90.0 | Revolver Financed by CIT Bank/Supports acquisitions of Santé Pediatric Services and AmeriCare |
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Heritage Food Service Equipment Distributor/Replacement Kitchen Equipment Parts |
BMO Harris Bank Jt Ld Arranger, Jt Bkrunner, Admin Agent |
85.0 | Revolver |
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American Pacific Manufacturer/Specialty Chemicals |
KeyBanc Capital Markets/Merrill Lynch/Bank of America Jt Ld Arranger, Sole Bkrunner, Admin Agent/Jt Ld Arranger/Syn Agent |
85.0 | $25MM Revolver/$60MM Term Loan Terminates existing credit facility |
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Smith-Cooper International Provider/Industrial Maintenance |
Repair | Ops Products | NXT Capital Sole Ld Arranger, Sole Bkrunner, Admin Agent |
84.0 | Revolver Supports acquisition by Blue Point Capital Partners |
|
MorseLife Provider/Senior Healthcare |
Housing | Support | TD Bank Lead Lender |
75.8 | Revolver Supports new construction, renovation, expansion/Retire debt |
|
Paradigm Precision Holdings Manufacturer/Turbines |
PNC Lender |
75.0 | $30MM Revolver/$15MM Term Loan Steel City Capital Funding division provided $30MM in junior secured financing |
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Homecare Homebase Provider/Home Health Agency Software Solutions |
CIT Healthcare Sole Ld Arranger, Sole Bkrunner, Admin Agent |
75.0 | Revolver Refinances debt/CIT Bank provided financing |
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Sparton Corp Provider/Electromechanical Devices |
BMO Harris Bank Lender, Agent |
65.0 | Revolver Replaces existing line of credit from PNC Bank |
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National Hospice Holdings d/b/a Life Choice Hospice Provider/Hospice Services |
GE Capital, Healthcare Financial Services Admin Agent |
65.0 | Revolver GE Capital Markets: sole ld arranger, bkrunner/Supports acquisition of SolAmor Hospice Corp. |
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Destination Maternity Retailer/Maternity Apparel |
Wells Fargo Bank Lead Lender |
61.0 | Revolver Replaces $55MM revolver with BofA |
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Carolina Beverage Group Packager/Beverage Market |
BMO Harris Bank Jt Ld Arranger, Sole Bkrunner, Admin Agent |
60.0 | Revolver Sponsor Finance group closed transaction/Repays subordinated debt |
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Pernix Therapeutics Holdings Provider/Pharmaceuticals |
MidCap Financial Sole Bookrunner, Admin Agent, Jt Ld Arranger |
60.0 | Revolver Supports acquire Cypress Pharmaceuticals, Hawthorn Pharmaceuticals |
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Access Medical Centers Provider/Urgent Care |
Walk-In Clinic | BMO Harris Bank Jt Ld Arranger, Jt Bkrunner, Admin Agent |
57.5 | Revolver Sponsor Finance group led the deal/Supports acquisition by NextCare Urgent Care |
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Advanced Energy Industries Provider/Power |
Control Technologies | Wells Fargo Lead Lender |
50.0 | Revolver Five-year term/Supports acquisitions |
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Entravision Communications Producer/Spanish-language Media |
GE Capital Agent |
50.0 | $30MM Revolver/$20MM Term Loan GE Capital Markets: Sole ld arranger, bkrunner/Four-year terms |
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WH Hospital Property Company Operator/Hospitals |
Capital One Bank Lender |
46.0 | Revolver Supports conversion of an existing medical office building into hospital |
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JDC Healthcare Management Operator/Dental Centers |
BMO Harris Bank Admin Agent, Ld Arranger, Bkrunner |
40.0 | Revolver BMO Harris Sponsor Finance group led the deal |
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National Home Health Care Provider/Home Healthcare Services |
Healthcare Finance Group Lender |
40.0 | $25MM Revolver/$15MM Term Loan Refinances previous debt |
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Valley Presbyterian Hospital Operator/Full-Service Acute Care Facility |
Healthcare Finance Group Sole Ld Arranger, Admin & Collateral Agent, Swingline Lender |
37.0 | $17MM Revolver/$20MM Term Loans |
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InfuSystem Holdings Provider/Infusion Pumps |
Services | Wells Fargo Lender |
36.5 | Revolver/Term Loans Four-year term |
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Round Table Pizza Provider/Premium Pizza |
Summit Partners Lender |
35.0 | $2.5MM Revolver/$32.5MM Term Loan Terminates agreement with GE Capital, Prudential |
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Park Place Technologies Provider/Outsourced Data Center Maintenance |
Abacus Finance Group Admin Agent, Sole Ld Arranger |
35.0 | Revolver/Term Loan Webster Bank participated/Supports recap of Park Place Tech by WestView Capital Partners |
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Ervin Equipment Provider/Transportation Equipment |
FirstMerit Bank Business Credit Lender |
35.0 | Revolver Refinances debt |
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Victory Brewing Company Distributor/Craft Beer |
First Niagara Ld Arranger, Admin Agent |
33.1 | Revolver Finances build-out of a second brewery |
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Anco Steel Company Supplier/Steel piping |
Beams | Rebar | FirstMerit Bank Business Credit Lender |
30.0 | Revolver Refinances existing debt |
|
Universal Power Group Supplier |
Distributor/Batteries | Accessories | Services | Comerica Bank Lender |
30.0 | Revolver Four-year term/Replaces existing credit agreement |
Superior Tube Company | Fine Tubes Manufacturers/Metal tubes |
PNC Lead Lender |
25.0 | Revolver Combined with a term facility from another lender/Supports Watermill Group’s acquisition |
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Chuy's Holdings Operator/Full-Service Restaurants |
Wells Fargo Bank Lender |
25.0 | Revolver Five-year term/Replaces May 2016 facility |
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Rotech Healthcare Provider/Home Medical Equipment |
Silver Point Finance Lender |
25.0 | Term Loan Replaces,repays existing commitments and loans |
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Fosbel Provider/Furnace Refractory Maintenance Services |
BMO Harris Bank Sole Ld Arranger, Sole Bookrunner, Admin Agent |
24.0 | Revolver Sponsor Finance group closed the deal |
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Big Lake Services Provider/Oil Maintenance |
Services | Capital One Bank Lender |
23.7 | Revolver Five-year term/Supports growth |
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Design Within Reach Provider/Furniture |
Accessories | Wells Fargo Capital Finance Lender |
22.5 | Revolver Five-year term/Replaces $17.5MM facility |
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Pali Corp Operator/Nursing Facilities |
Oxford Finance Lender |
21.5 | $1.5MM Revolver/$20MM Term Loan Refinances existing debt |
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University General Health System Operator/Health Delivery System |
MidCap Financial Lender |
19.0 | $15MM Credit Line/$4MM Term Note Refinances existing debt |
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Radiant Research Provider/Clinical Research |
Development | TCF Capital Funding Lender |
17.5 | Revolver Supports acquisition of Radiant Research by CRA Holdings |
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Birch Communications Provider/IP-Based Telecom |
Managed Services | Wells Fargo Bank Syndicated Lender |
17.0 | Revolver |
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Entellus Medical Provider/Therapeutic Solutions |
Oxford Finance Lender |
17.0 | Term Loan Support company’s commercialization of therapeutic solutions |
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ENSERVCO Provider/Fluid Management Services |
PNC Bank Lender |
16.0 | $5MM Revolver/$11MM Term Loan Replaces prior credit facilities with Great Western Bank |
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DeVilbiss Healthcare Provider/Medical Devices |
CIT Healthcare Sole Lead Arranger |
15.5 | Revolver Financed by CIT Bank/Refinances debt/New equipment purchases |
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Villa Enterprises Operator/Quick Service Restaurants |
Capital One Bank Lender |
15.0 | Revolver Seven-year term/Supports acquisitions |
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Hancock Fabrics Retailer/Clothing |
Fabrics | Accessories | GA Capital Admin Agent |
15.0 | Term Loan |
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Xenith Manufacturer/Football Helmets |
Sporting Equipment | Salus Capital Partners Lead Lender |
12.8 | Revolver |
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Logical Choice Technologies Reseller/Technology Solutions |
NewStar Business Credit Lender |
12.0 | Revolver |
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Burlington Technologies Manufacturer/Dyed Yarns |
Specialty Fabrics | Cole Taylor Business Capital Lead Lender |
11.0 | Revolver Refinances existing debt |
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Atlantic Press Provider/Insert Printing |
Cole Taylor Business Capital Lender |
10.6 | Revolver Refinances existing debt |
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Verenium Provider/Biotechnology |
Comerica Bank Lead Lender |
10.0 | Revolver Two-year term |
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Pacific Ethanol Producer/Low-Carbon Renewable Fuels |
Credit Suisse Loan Funding Syndication Agent |
10.0 | Revolver Supports plant operations |
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Bluefly Retailer/Designer Brands |
Salus Capital Lender |
10.0 | Revolver |
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McCollister's Transportation Group Provider/Moving |
Storage | NewStar Business Credit Lender |
10.0 | Revolver |
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MISCOR Group Provider/Electrical |
Mechanical Solutions | PNC Bank Lender |
9.0 | $6.5MM Revolver/$2.5MM Term Loan Replaces Wells Fargo Bank revolver/Refinances existing debt |
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NuPathe Provider/Pharmaceuticals |
Hercules Technology Growth Capital Lender |
8.5 | Term Loan |
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Systems America Provider/Cloud Computing |
IT Solutions | Wells Fargo Capital Finance Lead Lender |
7.5 | Revolver Supports acquisition of a targeted company |
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Axesstel Provider/Wireless Voice |
Broadband Solutions | Silicon Valley Bank Lender |
7.0 | Revolving Credit Line Replaces existing facility |
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LA Management Operator/Nursing Home Management Company |
Doral Healthcare Finance Lender |
7.0 | Revolver Three-year term/Refinances existing debt |
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Lalani Steel Distributor/Steel |
First Capital Lead Lender |
7.0 | Revolver Provides flexible financing to change the company business model |
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Bridgetown Natural Foods Manufacturer/Natural |
Organic Snack Bars | NewStar Business Credit Lender |
7.0 | Revolver/Term Loan |
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Consolidated Glass Holdings Provider/Custom Glass |
Metal Fabrication | FirstMerit Bank Business Credit Lender |
7.0 | Revolver Refinances existing debt |
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Bektrom Foods Manufacturer/Private Label Food |
Products | Sterling National Bank Lead Lender |
6.0 | $5MM Revolver/$1MM Term Loan |
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Intacct Provider/Cloud Financial Management Software |
Silicon Valley Bank Lender |
6.0 | Revolver Intacct also received $7.5MM venture funding led by Split Rock Partners and investors |
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Offshore Inland Marine & Oilfield Services Provider/Support Services |
AloStar Business Credit Lender |
6.0 | Revolver Refinances previous facility |
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WM Coffman Resources Distributor/Interior Iron |
Hardwood Stair Products | Cole Taylor Business Capital Lead Lender |
5.0 | Revolver Refinances existing debt |
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4INFO Provider/Mobile Search Services |
Avidbank Corporate Finance Lead Lender |
5.0 | Revolver Facilitates growth mobile advertising market |
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Carolís Daughter Holdings Distributor/Hair |
Beauty Products | Amalgamated Capital Lender |
5.0 | Revolver |
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Distinctive Apparel Retailer/Women’s Apparel |
AloStar Business Credit Lender |
5.0 | Revolver |
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Charter Baking Company Manufacturer/Organic |
All Natural Bread | MidCap Business Credit Lender |
4.5 | $3.5MM Revolver/$1MM Term Loan Refinances previous lender |
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Dalton Trucking Provider/Specialized Transportation Services |
Marquette Business Credit Lender |
4.5 | Revolver/Equipment Term Loan |
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Life Care Partners Operator/Home Healthcare Companies |
Gemino Healthcare Finance Lender |
4.0 | Revolving Credit Line Repays existing debt |
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Cloud Silver Lining Provider/IT Consulting |
RedRidge Finance Group Lender |
3.5 | $1.5MM Revolver/$2MM Term Loan |
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Human Touch Provider/Lifestyle Products |
Massage Chairs | Salus Capital Partners Lender |
3.0 | Term Loan |
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InterMetro Communications Provider/Video |
Data Communication Svs | TAB Bank Lead Lender |
3.0 | Revolver Supports growth |
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Flower Factory Retailer/Home Décor Products |
Marquette Business Credit Lender |
3.0 | Revolver |
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InterMetro Communications Provider/Voice |
Data Communication Services | TAB Bank Lender |
3.0 | Revolver |
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Transportation Agent Grid Provider/Package |
Freight Delivery Services | First Capital Lender |
3.0 | Revolver |
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VuMee Provider/Digital Mobile Advertising |
Coventry Capital Lender |
2.0 | Revolver Supports sales, marketing efforts |
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Woodland Blinds Manufacturer/Blinds |
Shades | Keltic Financial Services Lender |
2.0 | Revolver/Term Loan |
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Cosmos Communications Provider/Marketing Services |
TAB Bank Lender |
1.8 | Revolver |
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Seesmart Manufacturer/LED Lighting Products |
US Capital Partners Lender |
1.5 | Revolver |
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ProStar Trucking Specializes/Completions |
Production Water Trasnportation | TAB Bank Lender |
1.0 | Revolver Based on accounts receivable/Extends through a multi-year agreement |