Deal Charts

ABL Deal Chart 2012 Q4

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
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
Calpine
Provider/Power
Morgan Stanley, Barclays, Deutsche Bank, RBC
Lead Arrangers
835.0 Term Loan
Five- or eleven-year term
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
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
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
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
Emerald Oil
Operator/Oil Exploration, Production
Wells Fargo Bank
Lender
400.0 Revolver
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
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
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
Higher One
Provider/Higher Education Services
Bank of America
Admin Agent
200.0 Revolver
Fiver-year term
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
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
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
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
Convergint Technologies
Provider/Integration Services
Ally Commercial Finance
Agent, Structurer
142.5 $22.5MM Revolver/$120MM Term Loan
Refinances existing debt
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
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
NYDJ Apparel
Provider/Jeans
LBC Credit Partners
Jt Ld Arranger, Bookrunner, Doc Agent
127.5 Revolver
Support recap of NYDJ Apparel
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
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
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
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
Teletrac
Provider/Fleet Management Devices, Systems
Wells Fargo Capital Finance
Co-Lead Lender
100.0 Revolver
Refinances existing senior debt
GA Telesis
Provider/Commercial Aerospace
PNC Bank
Lead Lender
100.0 Revolver
Three-year term/Supports growth
Basin Electric Power Cooperative
Operator/Electric Generation, Transmission Cooperatives
AIG Commercial Asset Finance
Lender
100.0 Revolver
Supports construction of two electrical generating stations
Teletrac
Provider/Fleet Management Software Systems
Wells Fargo Capital Finance, Capital One Bank
Co-Lead Lender
100.0 Revolver
Refinances existing senior indebtedness
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
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
Heritage Food Service Equipment
Distributor/Replacement Kitchen Equipment Parts
BMO Harris Bank
Jt Ld Arranger, Jt Bkrunner, Admin Agent
85.0 Revolver
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
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
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
Sparton Corp
Provider/Electromechanical Devices
BMO Harris Bank
Lender, Agent
65.0 Revolver
Replaces existing line of credit from PNC Bank
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.
Destination Maternity
Retailer/Maternity Apparel
Wells Fargo Bank
Lead Lender
61.0 Revolver
Replaces $55MM revolver with BofA
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
Pernix Therapeutics Holdings
Provider/Pharmaceuticals
MidCap Financial
Sole Bookrunner, Admin Agent, Jt Ld Arranger
60.0 Revolver
Supports acquire Cypress Pharmaceuticals, Hawthorn Pharmaceuticals
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
Advanced Energy Industries
Provider/Power, Control Technologies
Wells Fargo
Lead Lender
50.0 Revolver
Five-year term/Supports acquisitions
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
WH Hospital Property Company
Operator/Hospitals
Capital One Bank
Lender
46.0 Revolver
Supports conversion of an existing medical office building into hospital
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
National Home Health Care
Provider/Home Healthcare Services
Healthcare Finance Group
Lender
40.0 $25MM Revolver/$15MM Term Loan
Refinances previous debt
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
InfuSystem Holdings
Provider/Infusion Pumps, Services
Wells Fargo
Lender
36.5 Revolver/Term Loans
Four-year term
Round Table Pizza
Provider/Premium Pizza
Summit Partners
Lender
35.0 $2.5MM Revolver/$32.5MM Term Loan
Terminates agreement with GE Capital, Prudential
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
Ervin Equipment
Provider/Transportation Equipment
FirstMerit Bank Business Credit
Lender
35.0 Revolver
Refinances debt
Victory Brewing Company
Distributor/Craft Beer
First Niagara
Ld Arranger, Admin Agent
33.1 Revolver
Finances build-out of a second brewery
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
Chuy's Holdings
Operator/Full-Service Restaurants
Wells Fargo Bank
Lender
25.0 Revolver
Five-year term/Replaces May 2016 facility
Rotech Healthcare
Provider/Home Medical Equipment
Silver Point Finance
Lender
25.0 Term Loan
Replaces,repays existing commitments and loans
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
Big Lake Services
Provider/Oil Maintenance, Services
Capital One Bank
Lender
23.7 Revolver
Five-year term/Supports growth
Design Within Reach
Provider/Furniture, Accessories
Wells Fargo Capital Finance
Lender
22.5 Revolver
Five-year term/Replaces $17.5MM facility
Pali Corp
Operator/Nursing Facilities
Oxford Finance
Lender
21.5 $1.5MM Revolver/$20MM Term Loan
Refinances existing debt
University General Health System
Operator/Health Delivery System
MidCap Financial
Lender
19.0 $15MM Credit Line/$4MM Term Note
Refinances existing debt
Radiant Research
Provider/Clinical Research, Development
TCF Capital Funding
Lender
17.5 Revolver
Supports acquisition of Radiant Research by CRA Holdings
Birch Communications
Provider/IP-Based Telecom, Managed Services
Wells Fargo Bank
Syndicated Lender
17.0 Revolver
Entellus Medical
Provider/Therapeutic Solutions
Oxford Finance
Lender
17.0 Term Loan
Support company’s commercialization of therapeutic solutions
ENSERVCO
Provider/Fluid Management Services
PNC Bank
Lender
16.0 $5MM Revolver/$11MM Term Loan
Replaces prior credit facilities with Great Western Bank
DeVilbiss Healthcare
Provider/Medical Devices
CIT Healthcare
Sole Lead Arranger
15.5 Revolver
Financed by CIT Bank/Refinances debt/New equipment purchases
Villa Enterprises
Operator/Quick Service Restaurants
Capital One Bank
Lender
15.0 Revolver
Seven-year term/Supports acquisitions
Hancock Fabrics
Retailer/Clothing, Fabrics, Accessories
GA Capital
Admin Agent
15.0 Term Loan
Xenith
Manufacturer/Football Helmets, Sporting Equipment
Salus Capital Partners
Lead Lender
12.8 Revolver
Logical Choice Technologies
Reseller/Technology Solutions
NewStar Business Credit
Lender
12.0 Revolver
Burlington Technologies
Manufacturer/Dyed Yarns, Specialty Fabrics
Cole Taylor Business Capital
Lead Lender
11.0 Revolver
Refinances existing debt
Atlantic Press
Provider/Insert Printing
Cole Taylor Business Capital
Lender
10.6 Revolver
Refinances existing debt
Verenium
Provider/Biotechnology
Comerica Bank
Lead Lender
10.0 Revolver
Two-year term
Pacific Ethanol
Producer/Low-Carbon Renewable Fuels
Credit Suisse Loan Funding
Syndication Agent
10.0 Revolver
Supports plant operations
Bluefly
Retailer/Designer Brands
Salus Capital
Lender
10.0 Revolver
McCollister's Transportation Group
Provider/Moving, Storage
NewStar Business Credit
Lender
10.0 Revolver
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
NuPathe
Provider/Pharmaceuticals
Hercules Technology Growth Capital
Lender
8.5 Term Loan
Systems America
Provider/Cloud Computing, IT Solutions
Wells Fargo Capital Finance
Lead Lender
7.5 Revolver
Supports acquisition of a targeted company
Axesstel
Provider/Wireless Voice, Broadband Solutions
Silicon Valley Bank
Lender
7.0 Revolving Credit Line
Replaces existing facility
LA Management
Operator/Nursing Home Management Company
Doral Healthcare Finance
Lender
7.0 Revolver
Three-year term/Refinances existing debt
Lalani Steel
Distributor/Steel
First Capital
Lead Lender
7.0 Revolver
Provides flexible financing to change the company business model
Bridgetown Natural Foods
Manufacturer/Natural, Organic Snack Bars
NewStar Business Credit
Lender
7.0 Revolver/Term Loan
Consolidated Glass Holdings
Provider/Custom Glass, Metal Fabrication
FirstMerit Bank Business Credit
Lender
7.0 Revolver
Refinances existing debt
Bektrom Foods
Manufacturer/Private Label Food, Products
Sterling National Bank
Lead Lender
6.0 $5MM Revolver/$1MM Term Loan
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
Offshore Inland Marine & Oilfield Services
Provider/Support Services
AloStar Business Credit
Lender
6.0 Revolver
Refinances previous facility
WM Coffman Resources
Distributor/Interior Iron, Hardwood Stair Products
Cole Taylor Business Capital
Lead Lender
5.0 Revolver
Refinances existing debt
4INFO
Provider/Mobile Search Services
Avidbank Corporate Finance
Lead Lender
5.0 Revolver
Facilitates growth mobile advertising market
Carolís Daughter Holdings
Distributor/Hair, Beauty Products
Amalgamated Capital
Lender
5.0 Revolver
Distinctive Apparel
Retailer/Women’s Apparel
AloStar Business Credit
Lender
5.0 Revolver
Charter Baking Company
Manufacturer/Organic, All Natural Bread
MidCap Business Credit
Lender
4.5 $3.5MM Revolver/$1MM Term Loan
Refinances previous lender
Dalton Trucking
Provider/Specialized Transportation Services
Marquette Business Credit
Lender
4.5 Revolver/Equipment Term Loan
Life Care Partners
Operator/Home Healthcare Companies
Gemino Healthcare Finance
Lender
4.0 Revolving Credit Line
Repays existing debt
Cloud Silver Lining
Provider/IT Consulting
RedRidge Finance Group
Lender
3.5 $1.5MM Revolver/$2MM Term Loan
Human Touch
Provider/Lifestyle Products, Massage Chairs
Salus Capital Partners
Lender
3.0 Term Loan
InterMetro Communications
Provider/Video, Data Communication Svs
TAB Bank
Lead Lender
3.0 Revolver
Supports growth
Flower Factory
Retailer/Home Décor Products
Marquette Business Credit
Lender
3.0 Revolver
InterMetro Communications
Provider/Voice, Data Communication Services
TAB Bank
Lender
3.0 Revolver
Transportation Agent Grid
Provider/Package, Freight Delivery Services
First Capital
Lender
3.0 Revolver
VuMee
Provider/Digital Mobile Advertising
Coventry Capital
Lender
2.0 Revolver
Supports sales, marketing efforts
Woodland Blinds
Manufacturer/Blinds, Shades
Keltic Financial Services
Lender
2.0 Revolver/Term Loan
Cosmos Communications
Provider/Marketing Services
TAB Bank
Lender
1.8 Revolver
Seesmart
Manufacturer/LED Lighting Products
US Capital Partners
Lender
1.5 Revolver
ProStar Trucking
Specializes/Completions, Production Water Trasnportation
TAB Bank
Lender
1.0 Revolver
Based on accounts receivable/Extends through a multi-year agreement