Deal Charts

ABL Deal Chart Q2/13

Notable Transactions

Data gathered from direct sources, news releases and other public information (2013/04/01-2013/06/30)

Note: Click Column Headings to Activate Sorting Options.

2013/06/14 Advent Software
Provider/Investment Mgmt Services
J.P. Morgan Securities, BofA Merrill
Jt Ld Arrangers, Jt Ld Bookrunners
425.0 $200MM Revolver/$225MM Term Loan
Five-year terms
2013/04/24 Agility Health
Provider/Healthcare Rehab
Gemino Healthcare
7.0 Revolver
Refinances existing debt
2013/05/09 Alimera Sciences
Developer/Prescription Ophthalmic Pharmaceuticals
Silicon Valley Bank
20.0 Debt Facility
Finances A/R in Europe; Replaces existing U.S. credit line
2013/05/28 Alpha Natural Resources
Admin Agent, Collateral Agent
625.0 Term Loan
Seven-year term; increases total facility to $1.725 billion
2013/06/11 Alpheus Communications
Provider/Metro & Regional Fiber Networking Solutions
Bank Street Group
Jt Ld Arranger
135.0 $10MM Revolver/$110MM Term Loan/$15MM Underwritten Delayed-Draw Term Loan
2013/04/05 American Apparel
Retailer/Branded Fashion Basic Apparel
Capital One Bank
35.0 Revolver
Five-yr term; repays prior credit facilities; supports growth & recap
2013/04/02 American Builders Supply
Supplier/Building Materials
Keltic Financial Services
5.0 Revolver
2013/04/08 Anthera Pharmaceuticals
Provider/Biopharmaceutical Development
MidCap Financial SBIC
20.0 Debt Financing Facility
Five-yr term loan w/ warrants; refinances existing loan w/ Hercules Tech
2013/05/06 API Heat Transfer
Supplier/Industrial Heat Exchangers
UBS Securities, RBC Capital, GE Capital Mrkts
Jt Ld Arrangers, Jt Bookrunners
300.0 First-Lien Credit Facility
Wellspring Capital portfolio; syn agent: UBS Sec; doc agent: RBC Cap Mrkts; administrative agent: GE Cap Corp
2013/04/08 Apria Healthcare Group
Provider/Home Respiratory, Infusion Therapy, Medical Equipment Services
Bank of America/U.S. Bank
Admin Agent/Collateral Agent
900.0 Term Loan
Refinances debt; jt ld arrangers, jt bookrunners: BofA, Goldman, Barclays, Wells Fargo Sec, Macquarie Cap
2013/04/03 Axesstel
Provider/Telecommunications Solutions
Silicon Valley Bank
2.3 Term Loan
Three-year term; amendeds existing A/R facility
2013/04/09 Axis Global Systems
Provider/Freight Services
Amalgamated Capital
6.0 Revolver
Three-year term; supports growth
2013/06/18 Bay Area Regional Medical Center
Hospital/Acute Care
Capital One Bank
Admin Agent, Jt Ld Arranger
84.0 $14MM ABL Revolver/$70MM Construction Loan
Construction loan to convert to conventional mortgage upon construction completion
2013/04/24 BrandsMart U.S.A.
Retailer/Consumer Appliances
GB Credit Partners
30.0 Term Loan
2013/04/03 Broder Bros
Distributor/Imprintable Activewear
Prospect Capital
100.0 Revolver
Supports recapitalization
2013/05/02 CardioFocus
Healthcare/Endoscopic Systems
Oxford Finance, SVB
11.0 Debt Financing
Funds growth
2013/06/20 Carter-Jones Lumber Company
Retailer/Building Materials
150.0 Revolver
2013/04/17 Cenveo
Provider/Printing Resources
Bank of America
Admin Agent
560.0 $200MM ABL/$350MM Term B Loan
Jt ld arrangers: BofA, Wells, Barclays, GE; refinances existing facilities
2013/05/13 Christmas by Krebs
Manufacturer/Shatterproof Glass Christmas Ornaments
Siena Lending Group
6.0 Revolver
Two-year term; Supports seasonal working capital needs
2013/06/04 Chromcraft Revington
First Capital
9.0 Revolver
LenderThree-year term; replaces $5MM facility with Gibraltar
2013/05/06 Citizens Solar Holdings
Developer/Solar Projects
CIT Group
Sole Lead Arranger
26.0 Revolver
Funds construction of ground-mounted solar photovoltaic power generation facilities; CIT Bank financed the deal
2013/05/07 Colony, Inc.
Manufacturer/Retail Fixtures, POS Products
First Capital
15.6 $15MM Revolver/$600,000 Term Loan
Revolver: collateralized by A/R, inventory
2013/04/03 Corporate Call Center
Provider/Outsourced Contact Center Services
NewStar Business Credit
7.5 Revolver
Supports growth
2013/06/17 dELiA*s
Retailer/Teenage Girl Apparel
Salus Capital Partners
30.0 Revolver
Four-year term; replaces prior $25MM revolver w/ GE Capital, Corp Retail Fin;
2013/05/17 Digital Cinema Implementation Partners
Provider/Digital Projection Systems
Barclays, Credit Suisse
Jt Ld Arrangers, Jt Bookrunners
755.0 $75MM Revolver/$680MM Term Loan B
8-yr term loan B; 5-yr revolver; admin agent: Barclays; syn agent: Credit Suisse; AMC, CineMark, Regal JV
2013/06/14 Doncasters Group
Engineering Mnfg/Precision Components, Assemblies
Bank of America Merrill Lynch
Jt Ld Arranger, Jt Bookrunner
1166.0 $876MM First Lien Term Loan/$290MM Second Lien Term Loan
Seven-yr first lien term loan; 7.5-yr second lien term loan; Sole Arranger, left jt bookrunner: BofA Bus Cap for £110 million ABL
2013/06/03 DPS
Provider/Document Processing Services
Marquette Business Credit
7.0 Revolver
Supports continued growth
2013/04/24 Dynegy
Provider/Electric Energy Svcs
Credit Suisse, Morgan Stanley, BofA Merrill Lynch, Barclays, Deutsche, Goldman, J.P. Morgan, RBC, UBS
Lead Arrangers
1775.0 $475MM Revolver/$1.3B Term Loan
Co-mgr of term loan: Union Bank; other lenders under revolver
2013/06/18 E.C. Barton & Company
Provider/Lumber, Building Materials
BofA Business Capital, BofA Merrill
55.0 Revolver
Refinances existing debt
2013/05/20 EDAC Technologies
Manufacturer/Precision Machined Components
GE Antares
Administrative Agent
89.5 Revolver
Supports acquisition by Greenbriar Equity Group; jt ld arranger/sole bookrunner: GE Capital Markets
2013/06/27 Electro Brand
Distributor/Consumer Electronic Products
TAB Bank
3.0 Revolver
Based on A/R
2013/04/24 Elior SCA
Provider/Catering, Facilities Mgmt
CIT Corporate Finance
Sole Ld Arranger, Admin Agent
220.0 Revolver
Supports acquisition of TrustHouse Services; sponsor: Charterhouse Capital Partners; funding: CIT Bank; terms not disclosed
2013/05/20 Encore Capital Group
Provider/Debt Mgmt, Recovery Solutions
Wells Fargo
100.0 ABL Revolver
Finances acquisition of tax lien certificates
2013/05/31 Entravision Communications
Provider/Spanish Language Media
GE Capital
425.0 $30MM Revolver/$20MM Term Loan/$375MM Delayed-Draw Term Loan
2013/06/11 Enzo Biochem
Developer/Molecular Diagnostics Technologies
Healthcare Finance Group
8.0 Revolver
Facility may be increased to $12MM; provides for advances against eligible receivables
2013/05/03 Erickson Air-Crane
Provider/Aviation Services
Wells Fargo
100.0 ABL Revolver
Five-yr term; participants: Bank of the West, Deutsche Bank Americas, HSBC Bank USA
2013/06/25 Farren International
Provider/Logistics Solutions
Marquette Business Credit
13.0 Revolver/Cash-Flow TL/Equipment TL
Allows for business consolidation
2013/05/07 FilmNation Entertainment
Distributor, Producer/Entertainment Films
BofA Merrill Lynch, Union Bank
50.0 Revolver
Backed by equity
2013/05/09 Floor and Decor Outlets of America
Retailer/Hard Surface Flooring
Wells Fargo Capital Finance
Admin Agent, Sole Arranger, Bookrunner, Term Loan Agent
110.0 $100MM Revolver/$10MM Term Loan
2013/04/16 Footprint Retail Services
Provider/Retail Merchandising Services
Marquette Business Credit
10.0 Revolver
FRS is a Chicago Growth Partners portfolio company
2013/05/22 Fortress International Group
Provider/Consulting, Engineering, Construction MGMT
Bridge Bank
6.0 Revolver
Supports growth
2013/04/03 Genoa Healthcare Holdings
Operator/Specialty Pharmacy
BMO Harris Bank
Jt Ld Arranger, Jt Bookrunner, Admin Agent
77.2 Revolver
Sponsor Finance group closed the deal
2013/06/21 Group 1 Automotive
Operator/Automotive Dealerships
J.P. Morgan Securities, Merrill Lynch
1700.0 Revolver
Lenders syndicate includes 6 manufacturers & 19 comm'l banks
2013/06/18 Hanger
Distributor/Orthotics, Prosthetics
BofA Merrill, Wells Fargo
Jt Ld Arrangers
425.0 $200MM Revolver/$225MM Term Loan
Five-yr term; refinances existing debt
2013/06/07 Hawaiian Telcom Holdco
Provider/Integrated Communications Solutions
Credit Suisse Securities (USA)
Sole Ld Arranger, Sole Bookrunner
300.0 Term Loan
Six-year term; refinances existing debt; admin agent/collateral agent: Credit Suisse AG, Cayman Islands
2013/06/21 Helix Energy Solutions Group
Provider/Subsea Construction
Merrill Lynch, Wells Fargo Securities
Jt Ld Arrangers, Jt Bookrunning Mngrs
900.0 $600MM Revolver/$300MM Term Loan
Five-yr term; admin agent: BofA; replaces existing facility; has a $200MM accordion feature
2013/04/09 High Performance Industries
Manufacturer/Automotive Aftermarket Products
LBC Credit Partners
Agent, Sole Ld Arranger, Sole Bookrunner
60.0 Term Loan
Supports acquisition of Quick Fuel Technology; funds dividend recap
2013/05/14 idX
Manufacturer/Retail Display Fixtures
LBC Credit Partners
Sole Ld Arranger, Sole Bookrunner, Admin Agent
35.0 Term Loan
ACON Investments portfolio company; Refinances debt; Supports growth plans
2013/06/12 Independence Contract Drilling
Provider/Land Drilling Services
CIT Corporate Finance
Sole Ld Arranger, Sole Ld Admin Agent
60.0 Revolver
Financing was provided by CIT Bank
2013/05/07 Information Services Group
Advisor/Technology Services
Bank of America
70.0 $25MM Revolver/$45MM Term Loan
Five-year term
2013/06/14 Innotrac
Provider/Digital Tech Commerce Solutions
SunTrust Bank
25.0 Revolver
Three-year term; refinances existing facility
2013/06/19 InterDent
Provider/Dental Practice Mgmt Services
Healthcare Finance Group
15.0 Revolver
Supports ongoing operations
2013/04/25 International Game Technology
Provider/Casino Gaming Entertainment
Admin Agent, Swing Line Lender
1000.0 Revolver
Five-year term; amends existing facility; syn agent, L/C issuer: WFB ; co-doc agents: BofA, JPM, Mizuho, Union Bank, U.S. Bank
2013/05/14 IO
Provider/Software-Defined Data Center
Wells Fargo
Lead Lender
260.0 Revolver
Jt Ld Arrangers: Wells Fargo Sec, BMO Capital Mrkts, J.P. Morgan, Merrill, RBC Capital Mrkts
2013/05/23 J. C. Penney
Retailer/Apparel, Conventional Merchandise
Goldman Sachs
Lead Arranger
2250.0 Term Loan
Five-year term; jt arrangers: Barclays, J.P. Morgan Sec, BofA Merrill, UBS Sec
2013/04/03 Kabbage
Provider/Small Business Financing Services
Victory Park Capital
75.0 Revolver
2013/04/26 Key Industries
Manufacturer/Work Wear
First Capital
10.0 ABL Revolver
Refinances previous lender; Additional availability
2013/06/05 Lakeway Regional Medical Center
Provider/Medical Services
Gemino Healthcare Finance
4.0 Revolver
Multi-currency; refinances existing facility
2013/05/28 Lovesac
Retailer/Furniture, Accessories
Siena Lending Group
7.0 Revolver
Supports store expansion efforts; Mistral Equity Partners portfolio company
2013/05/01 Lumos Networks
Provider/Data, Voice, IP Telecom
CoBank ACB
Admin Agent, Lead Arranger
425.0 $50MM Revolver/$100MM Term Loan A/$275MM Term Loan B
Refinancing; syn agent: Fifth Third; doc agents: Union Bank, RBC
2013/05/08 Manus Holdings
Manufacturer/Industrial Products
Salus Capital Partners
35.0 Revolver
Retires existing debt; Manus is a portfolio company of Versa Capital Mgmt
2013/06/26 Materion
Supplier/Precision Parts Cleaning, Metal Recovery Services
JPMorgan Chase Bank
Admin Agent
375.0 Revolver
Five-year term
2013/04/15 Mattson Technology
Provider/Semiconductor Wafer Processing Equipment
Silicon Valley Bank
25.0 Revolver
Three-year term
2013/05/21 Medical Action Industries
Manufacturer/Disposable Medical Devices
Wells Fargo
65.0 Revolver/Term Loan A/Term Loan B
Five-year term; replaces existing credit facility
2013/05/02 Medley Capital
Provider/Business Development
JPMorgan Chase
30.0 $230MM Revolver/$115MM Term Loan
JPM joins lender group under $345MM facility; Arranger: ING Capital
2013/05/08 Mesilla Valley Transportation
CIT Corporate Finance
20.0 Revolver
Finances acquisition of tractors and trailers; CIT Bank financed the deal
2013/05/21 MiMedx Group
Developer/Regenerative Biomaterial Products
Bank of America
3.0 ABL Revolver
Secured by A/R & inventory
2013/04/02 Modular Process Control
Provider/Engineering Services
Full Circle Capital
6.0 Revolver/Term Loan
Refinances debt; Supports growth
2013/06/28 MPI Products
MNFG/High-Precision, Fineblanked Metal Components
LBC Credit Partners
Admin Agent, Ld Arranger
35.0 Term Loan
Supports recap by Monomoy Cap Partners; MPC portfolio company
2013/06/27 Navidea Biopharmaceuticals
Developer/Precision Diagnostic/Radiopharma Agents
GE Capital, Healthcare Financial Services
25.0 Term Debt Financing
Supports Lymphoseek commercialization/clinical dev advances
2013/05/10 Neenah Enterprises
Manufacturer/Iron Castings
GE Capital, Corporate Finance
Admin Agent
250.0 Revolver
Ld arranger: GE Capital Markets; Refinances debt
2013/06/04 Novelis
Producer/Aluminum-Rolled Products
Wells Fargo Capital Finance
Left Ld Arranger, Book Mgr, Admin Agent
1000.0 Revolver
Five-yr terms; term loan in part repays the $1.35B outstanding on its Project Facilities Agreement
2013/05/16 On Assignment
Provider/Staffing Services
Wells Fargo
Admin Agent, Swing Line Lender, Letter Of Credit Issuer
500.0 $125MM Revolver/$100MM Term Loan A/$275MM Term Loan B
Five-year: term loan A;Seven-year: term loan B
2013/06/20 OraMetrix
Provider/Orthodontic 3-D Technology Solutions
GE Capital, Healthcare Financial Services
Admin Agent, Sole Lender
7.5 Term Loan
Supports growth
2013/06/25 Oxford Resource Partners
Producer/Steam Coal
Cerberus Capital, Tennenbaum Capital Partners
175.0 $25MM Revolver/$75MM 1st Lien TL/$75MM 2nd Lien TL
$100MM provided by Cerberus; $75MM 2nd lien TL provided by Tennenbaum; refinances debt
2013/06/04 Pacific Drilling
Provider/Deepwater Drilling Services
Citigroup, Goldman, Deutsche, Barclays
Jt Ld Arrangers Bookrunning Mgrs
1250.0 $500MM Revolver/$750MM Term Loan
2013/05/13 Packaging Coordinators
Provider/Pharma, Biotech Packaging Services
Golub Capital
Sole Bookrunner, Ld Arranger, Admin Agent
75.0 Term Loan
GCP made $4MM co-investment equity; Supports acquisition of AndersonBrecon
2013/06/20 PowerSecure
Provider/Utility, Energy Technologies
Admin Agent
25.0 Term Debt Facility
Seven-year term; lender: BB&T
2013/04/02 Pristine Environments
Provider/Facilities Maintenance Services
Full Circle Capital
4.4 Revolver/Term Loan
Partially funds an acquisition
2013/04/23 Quintec
Provider/Cutting Tools
LBC Credit Partners
34.0 Term Loan
Partially supports merger; Portfolio company of Tenex Capital Mgmt
2013/06/13 QVD USA, (d/b/a QVD Aquaculture)
Distributor/Sustainably Raised Seafood
First Capital
Working Capital Partner
4.0 ABL Revolver
Collateralized by A/R & inventory; supports growth
2013/04/01 Revera Health Systems
Provider/Long-Term Care, Rehab
Capital One Bank
19.5 Term Loan
Three-year term; Refinances debt
2013/06/12 RTI Biologics
Provider/Orthopedic, Biologic Implants
Regions Bank, TD Bank, TD Securities
80.0 $20MM Revolver/$60MM Term Loan
Five-yr term; supports acquisition of Pioneer Surgical Technology
2013/04/03 Runge Paper Company
Provider/Distribution Services
Keltic Financial Services
3.0 Revolver
2013/04/04 SAIL Outdoors
Retailer/Outdoor Sporting Goods
Wells Fargo Capital Finance Canada
Admin Agent, Sole Lender
60.0 Revolver
2013/05/29 Silver Wheaton
Producer/Precious Metals
Scotiabank, BMO Capital Markets
Co-Lead Arrangers, Jt Bookrunners
1000.0 Term Loan
Three-yr term; co-doc agents: Canadian Imperial Bank of Commerce, HSBC Bank Canada, RBC, Toronto Dominion Bank; senior managers: BofA Merrill, Export Development Canada; lenders: Bank of Tokyo-Mitsubishi, National Bank of Canada, Mizuho Corporate Bank
2013/04/17 Snowbird Environmental Systems
Manufacturer/Ruggedized Air Conditioners, Heat Pumps
TAB Bank
2.0 Revolver
Extends facility agreement
2013/04/05 Southwest Airlines
Citibank, JPMorgan Chase
Co-Admin Agents
1000.0 Revolver
Five-year term; Repleaces previous credit agreement
2013/06/18 SportsGiant
Retailer/Niche Sporting Goods Products
Marquette Business Credit
5.0 Revolver
Supports growth
2013/04/09 StemCells
Researcher/Cell-Based Therapeutics
Silicon Valley Bank
10.0 Debt Financing Facility
Three-year term w/ warrants
2013/06/07 Sycamore Networks Solutions
Provider/Optical Networking Solutions
AloStar Business Credit
12.0 Revolver
Provides liquidity; supports growth
2013/06/27 TeleCommunication Systems
Provider/Mobile Communication Technology
Silicon Valley Bank
Admin Agent
130.0 $30MM Revolver/$56.5MM Term Loan A/$43.5MM Delayed-Draw Term Loan
Co-ld arrangers, jt bookrunners: SVB, GE Capital Markets; syn agent: GECC; lenders: M&T Trust, PNC Bank
2013/06/07 TeleTech Holdings
Provider/Tech-Enabled Customer Experience Solutions
Wells Fargo Securities, KeyBank, BofA Merrill, BBVA Compass, HSBC Bank USA
Jt Ld Arrangers
700.0 Revolver
Five-year; multi-currency; accordion feature up to $1B
2013/05/17 Tempur-Pedic
Bank of America
Admin Agent
867.8 Term Loan B
Replaces existing facility; Participants: Barclays, JPM, Wells, Fifth Third
2013/04/03 The Judge Rotenberg Educational Center
School/Special Needs
Gemino Healthcare Finance
7.0 Revolver
Refinances debt
2013/04/16 The Men's Wearhouse
Retailer/Men's Apparel
JPMorgan/BofA, US Bank
Admin Agent/Co-Syn Agents
400.0 $300MM Revolver/$100MM Term Loan
Five-year terms
2013/06/18 The Robbins Company
Developer/Underground Construction Equipment
Crystal Financial
57.1 Term Loan
Four-yr term; replaces existing debt; supports growth
2013/04/29 The Seminole Tribe of FL
Provider/Gaming Facilities
BofA Merrill
Admin Agent
750.0 Term Loan
Seven-yr term; Refinances debt; syn agent: Credit Suisse; jt ld arrangers, jt ld bookrunners: BofA Merrill, Credit Suisse
2013/04/23 Totsy
Retailer/Online Family Products
Salus Capital Partners
8.0 Term Loan
Refinances existing debt/Sponsor unnamed
2013/06/05 Transaxle
Remanufacturer/Specialized Truck Components
Cole Taylor Business Capital
14.0 Revolver
Graham Partners portfolio company; refinances existing debt
2013/04/23 TRC Companies
Provider/Construction Management
RBS Citizens
Lead Bank
75.0 Revolver
JPMorgan: participant; Five-year term; Replaces existing facility
2013/06/28 Triunfo-Mex
Distributor/Hispanic products
First Capital
7.5 ABL Facility
Collateralized by A/R & inventory
2013/05/02 TruckPro
Distributor/CV Parts
CIT Corporate Finance
Co-Lead Arranger
96.0 Terms not disclosed
Equity Sponsor Refi (Harvest Partners); Financing provided by CIT Bank/TND
2013/05/28 Ultralife Corporation
Manufacturer/Lithium Batteries
PNC Bank
20.0 ABL Revolver
Four-year term; $15MM accordion; replaces expired facility w/ RBS Business Cap
2013/05/06 Univar
Distributor/Industrial & Specialty Chemicals
BofA Business Capital
100.0 Term Loan
Increases ABL to $1.4B; supports acquisitions/growth
2013/06/14 Van-Rob
Manufacturer/Automotive Parts
GE Capital, Canada
Admin Agent, Ld Arranger
66.0 Revolver
Refinances existing term loan
2013/04/29 W&T Offshore
Producer/Oil, Gas
Toronto Dominion (TX)
Admin Agent
75.0 Amendment to Existing Revolver
Increases borrowing base
2013/04/12 Western Refining
Merrill Lynch, Wells Fargo Capital Finance
Jt Ld Arrangers, Jt Bookrunners
900.0 Revolver
Refinances revolving credit agreement; Five-year term
2013/05/23 Wyndham Worldwide
Provider/Hospitality Products, Services
J.P. Morgan, Merrill Lynch
Jt Bookrunners
1500.0 Revolver
Five-year term; admin agent: BofA; replaces existing $1 billion facility