Deal Charts

ABL Deal Chart 2014 Q1

Notable Transactions

Data gathered from direct sources, news releases and other public information (2014/01/01-2014/03/31)

Dollar amounts in millions

Note: Click Column Headings to Activate Sorting Options.

2014/01/24 A. M. Castle
Distributor/Specialty Metal & Plastic
Wells Fargo
Admin Agent
125.0 ABL Facility
Up to $150MM w/ accordion; increases existing facility
2014/01/02 Acura Pharmaceuticals
Provider/Specialty Pharma Services
Oxford Finance
10.0 Term Loan
Four-year term
2014/03/18 AK Steel
Producer/Metallurgical Coal
BofA, J.P. Morgan Sec, Wells Fargo
Jt Ld Arrangers
1100.0 Revolver
5-year term; replaces existing facility
2014/03/10 Aker Philadelphia Shipyard
Manufacturer/Shipyard Vessels
Tennebaum Capital Partners
Ld Lender
65.0 Term Loan
2014/03/21 Alfred Music Publishing
Publisher/Educational Music Products
Crystal Financial
20.0 Term Loan
2014/01/09 Alliance Time &
Wholesaler/Luxury Watches & Specialty Jewelry
Monroe Capital, BofA Merrill
67.0 $40MM Revolver/$27MM Term Loan
BofA ML provided the revolver; Monroe provided the term loan
2014/02/25 AMSCO Steel
Distributor/Steel & Aluminum
Marquette Business Credit
6.0 ABL Revolver
2014/02/20 Associated Steel
Manufacturer/Metal Building Systems
LBC Credit Partners
15.0 Term Loan
Supports acquisition; Promus Equity Partners portfolio company
2014/03/25 Asure Software
Provider/Time & Labor MGMT Solutions
Wells Fargo Bank
Admin Agent
18.0 $3MM Revolver/$15MM Term Loan
2014/01/31 Atlantic Power
Operator/Power Generartion Assets
Goldman Sachs Lending Partners & BofA
Jt Ld Arrangers
800.0 $200MM Revolver/$600MM Term Loan
Replaces existing facility
2014/01/28 Billabong
Retailer/Sports Apparel
GE Capital
Admin Agent & Ld Arranger
100.0 Multicurrency Revolver
2014/01/06 Bob Evans Farms
Operator/Full-Service Restaurants
PNC Bank
Admin Agent
750.0 Revolver
2014/01/14 Bolts & Nuts
Distributor/Comm'l & Construction Bolts & Fasteners
Cole Taylor Business Capital
6.0 Revolver
Provider/Online Travel Services
Monroe Capital
10.0 Term Loan
Supports growth; BooktIt advised by Essex Capital
2014/03/12 Callon Petroleum
Provider/Oil & Natural Gas Services
JPMorgan Chase
Admin Agent
625.0 $500MM Revolver/$125MM Term Loan
5-year term
2014/03/06 Cantel Medical
Provider/Infection Prevention & Control Products, Services
BofA, Wells, PNC
Ld Lender
250.0 Revolver
Maturity extended through March 2019; refinances debt
2014/03/20 Cimarron Acid & Frac
Provider/Pressure Pumping Services
Cole Taylor Business Capital
8.0 Revolver
Annapurna Cap Mgmt portfolio company
2014/02/24 Cloud Peak Energy
PNC Bank
Admin Agent
500.0 Revolver
2014/01/29 Coating Excellence Intl
Provider/Extrusion Coating & Printing Services
BMO Harris Bank, Sponsor Finance
Sole Ld Arranger, Sole Bookrunner & Admin Agent
99.0 Revolver
Mason Wells portfolio company
2014/01/23 Crumbs Bake Shop
Provider/Gourmet Cupcakes
Fischer Enterprises
5.0 Revolver
Supports new business plan
2014/02/20 Diamond Foods
Provider/Packaged Food
Wells Fargo/Credit Suisse
Admin Agent & Sole Ld Arranger/Admin & Col Agent
539.0 $125MM ABL/$415MM Term Loan
4.5-year terms; credit agreements replace previous facility w/ BofA as admin agent
2014/01/14 Diamonds Direct
Retailer/Diamonds & Diamond Jewelry
GB Credit Partners
15.0 Term Loan
2014/02/05 Diamonds Direct USA
Operator/Retail Diamond Stores
AloStar Business Credit
20.0 Revolver
2014/02/14 Double B Foods
Manufacturer/Frozen Food Appetizers
Cole Taylor Business Capital
8.0 Revolver
Refinances debt; Atlantic Street Capital Management portfolio company
2014/02/24 Dragone Classic Motor Cars
Auctioneer/Classic Cars
Webster Business Credit Corp
15.0 Revolver
Refinances debt
2014/01/07 DragonWave
Provider/Packet Microwave Solutions
Comerica Bank & Export Development Canada
40.0 ABL Revolver
Two-year term
2014/02/10 Dunkin' Brands Group
Franchisor/Quick Service Restaurants
Barclays Bank
Admin Agent
1929.0 $100MM Rev/$1.379B TL/$450MM TL
3-, 5-, & 7-yr terms; replaces existing facilities
2014/03/07 ENTREC
Provider/Heavy Lift & Haul Services
Wells Fargo Capital Finance Canada
Ld Lender
240.0 ABL Facility
5-yr term; lenders: Scotiabank, Canadian Western, TD Bank & National Bank of Canada; replaces previous facility
2014/03/26 Euramax Holdings
Manufacturer/Building Products
Regions Bank
Admin & Col Agent
70.0 Revolver
Sole ld arranger: Regions Business Capital
2014/01/16 Evergreen Enterprises of Virginia
Wholesale Distrib/Home Furnishings
Wells Fargo Capital Finance
Sole Ld Arranger & Bookrunner
55.0 Revolver
2014/01/28 First Quantum Minerals
Provider/Mining Development Projects
BNP Paribas & Standard Charter Bank
Mandated Ld Arrangers & Underwriters
2500.0 $1.5B Revolver/$1B Term Loan
5-yr terms
2014/01/31 FourPoint Energy
Provider/Energy Services
JPMorgan Chase, Wells Fargo Bank
250.0 Revolver
Sole ld arranger & bookrunner: J.P. Morgan Sec
2014/03/21 Fulcrum IT Services
Provider/Tech Consulting & Services
BMO Harris Bank, Sponsor Finance
Sole Ld Arranger, Sole Bookrunner & Admin Agent
25.0 Revolver
Boyne Capital Partners portfolio company
2014/01/23 General Employment
Provides Hiring Services
Keltic Financial
6.0 Revolver
Refinances existing facility
2014/03/12 Hamilton Metals
Distributor/Corrosion Resistant Alloys
PNC Bank
50.0 ABL Facility
2014/01/07 Harley Marine Services
Provider/Marine Petroleum Transportation Services
GE Capital, Corporate Finance
Admin Agent
285.0 Revolver/Term Loan
Sole bookrunner & sole ld arranger: GE Cap Mkts
2014/01/07 Ignyta
Developer/Precision Medicine
Silicon Valley Bank
10.0 Term Loan
Replaces previous $1.5 million facility
2014/03/07 ILFC
Deutsche, Goldman
Jt Ld Arrangers & Jt Bookrunners
1500.0 Term Loan
Jt bookrunner: RBC Capital; supports aircraft purchases
2014/01/14 Intcomex
Distributor/IT Products
PNC Cap Mkts & BankUnited
Co-Ld Arrangers
150.0 Revolver
5-year term; concurrent $20MM shareholder equity
2014/01/30 Interflex Acquisition Co
Manufacturer/Printed & Flexible Packing Solutions
BMO Harris Bank Sponsor Finance
Jt Ld Arranger, Jt Bookrunner & Admin Agent
72.0 Revolver
2014/02/04 iPipeline
Provider/Sales Distrib Software
Capital One Bank
42.5 Revolver
2014/03/21 Jack in the Box
Operator/Franchise Fast Food Restaurants
Wells Fargo, Merrill Lynch
Jt Ld Arrangers
800.0 $600MM Revolver/$200MM Term Loan
5-year term
2014/03/28 JAKKS Pacific
Developer/Toys & Leisure Products
GE Capital, Corporate Finance
Admin Agent
75.0 Revolver
2014/03/06 JW Resources
Operator/Thermal & Metallurgical Coal Mining
GB Credit Partners
15.0 Revolver/Term Loan
2014/03/28 Katy Industries
Distributor/Comm'l Cleaning Products
BMO Harris Bank
Sole Lender
27.0 Revolver
2014/01/30 Kayne Anderson Energy Dev Co
Investor/Energy Companies
SunTrust Bank
Admin Agent
120.0 Revolver
3-yr term; arrander & book mgr: SunTrust RH; syn agent: Citibank; co-doc agents: UBS Sec & Scotia Bank
2014/03/21 KDH Defense Systems
Manufacturer/Body Armor
MidCap Business Credit
7.5 ABL Revolver
2014/03/06 Laney Directional Drilling
Provider/Drilling Services
CIT Corp Fin
Sole Ld Arranger, Sole Bookrunner & Admin Agent
43.0 Revolver
Chart Capital Partners portfolio company; financing provided by CIT Bank
2014/02/05 Legacy Cabinets
Manufacturer/Home Cabinetry
PNC Bank
13.5 $10MM ABL Revolver/$3.5MM Term Loan
2014/03/07 Lehigh Gas Facility
Distributor/Motor Fuels
Citizens Bank of PA
Admin Agent
450.0 Revolver
5-yr term; jt ld arrangers & bookrunners: RBS Cit, KeyBank & Wells Fargo Sec; co-syn agents: Wells & KeyBank; co-doc agents: BofA, M&T Bank, RBC & Santander
2014/02/25 Lighting Science
Provider/Enviro-Friendly Lighting Solutions
Medley Capital
53.0 Revolver
2014/03/27 LKQ
Provider/Collision Parts
Wells Fargo Sec
Left Ld Arranger & Left Bookrunner
2300.0 $1.85B Revolver/$450MM Term Loan
Jt ld arrangers & jt bookrunners: Merrill, Bank of Tokyo-Mitsubishi & RBS Cit; admin agent: Wells Fargo; syn agent: BofA
2014/03/05 Long's Drugs
Provider/Retail Pharmacy Services
Healthcare Finance Group
Sole Ld Arranger, Admin Agent & Lender
79.0 Debt Facility
Fifth St Fin served as admin agent, sole ld arranger & lender for $13MM subordinated debt; HFG provided $66MM sr. debt
2014/03/05 Lucid Energy Group
Developer/Oil & Gas Infrastructure Facilities
Wells Fargo Sec, Cadence Bank
Jt Ld Arrangers
200.0 Revolver
4-yr term; private equity commitments: EnCap Flatrock Midstream
2014/03/21 MarkWest Energy
Provider/Natural Gas Transportation Services
Wells Fargo, RBC Cap Mkts
Jt Ld Arrangers & Jt Ld Bookrunners
1300.0 Revolver
5-year term; up to $1.8B w/ accordion
2014/03/20 Matrix Service
Provider/Engineering Services
JPMorgan Chase
Admin Agent
200.0 Revolver
5-year term; sole ld arranger & bookrunner: J.P. Morgan Sec
2014/03/11 MB Precision
Provider/Fabrication, Assembly & Test Services
BMO Harris Bank
Sole Lender
25.0 ABL Revolver
Insight Equity portfolio company
2014/02/05 Meritage Midstream Services II
Provider/Oil & Gas Midstream Services
Deutsche Bank Trust Americas
Admin Agent
125.0 Revolver
3-yr term; up to $175MM w/ accordion; jt ld arrangers & lenders: Deutsche Bank AG, Citibank, RBC & RBS
2014/02/03 National Mentor Holdings
Provider/Home & Community Health & Human Services
Barclays Bank
Admin Agent
750.0 $100MM Revolver/$600MM Term Loan/$50MM Cash Coll Acct
Replaces existing facilities
2014/01/28 New Beginnings Care
Operator/Skilled Nursing Facilities
Gemino Healthcare Finance
8.0 Revolver
2014/02/18 New Enterprise Stone & Lime
Supplier/Construction Materials
PNC Bank/Wells Fargo Bank
Admin Agent/Syn Agent
175.0 $105MM Revolver/$70MM Term Loan
2014/02/14 NewPage
Producer/Printing & Specialty Papers
Barclays Bank, Credit Suisse Sec
Ld Lenders
1100.0 ABL Facility/Term Loan
Barclays led the ABL; Credit Suisse Sec led the term loan
2014/02/20 NextCare Holdings
Provider/Urgent Care & Occupational Medical Services
Madison Capital
Admin Agent
145.0 Revolver
Enhanced Equity Funds portfolio company; received commitments from NXT Cap, Siemens Financial, BDC of America, Jefferies & Fifth St Sr Floating Rate
2014/01/06 NGL Energy Operating
Provider/Energy Services
Deutsche Bank Trust Company Americas
Admin Agent & Col Agent
935.5 Revolver
$50MM facility increase
2014/03/12 Nova USA Wood Products
Importer/Hardwood Flooring Products
First Capital
5.0 ABL Revolver
2014/03/19 Nuverra Environmental Solutions
Provider/Enviro Solutions
Wells Fargo, RBS Cit, BofA, CIT Fin & Cap One BC
Ld Lenders
245.0 Revolver
2014/02/04 Nuverra Environmental Solutions
Provider/Environmental Energy & Industrial Solutions
Wells Fargo
Admin Agent
200.0 Revolver
Up to $225MM w/ accordion; jt ld arrangers & jt bookrunners: Wells Fargo, RBS Citizens & BofA
2014/02/21 OddLot Entertainment
Producer/Film & TV
J.P. Morgan, Comerica
Co-Ld Arrangers
50.0 Revolver
Up to $150MM w/ accordion
2014/03/05 Omeros
Provider/Biopharmaceutical Services
Oxford Finance, MidCap Financial
32.0 Term Loan
4-year term; repays prior loan agreements
2014/03/24 Orient-Express
Operator/High-End Hotels, Cruise & Train Services
Barclays, J.P. Morgan
Jt Ld Arrangers
657.0 $105MM Revolver/$552MM Term Loan
5-yr multi-currency revolver; term loan B comprises: $345MM & €150MM tranches
2014/01/08 OW Bunker
Supplier/Bunker Fuel & Shipping Supplies
ING Bank
Ld Lender
700.0 Revolver
Refinances debt; Altor portfolio company
2014/02/13 Park Electrochemical
Developer/Digital & RF-Microwave Printed Circuit Materials
PNC Bank
104.0 Revolver
4-year term; replaces existing facility
2014/01/13 PerkinElmer
Provider/Technology Services
JPMorgan Chase
Admin Agent
700.0 Revolver
Replaces previous credit agreement; co-syn agents: BofA & Barclays; co-doc agents: RBS, Citibank & HSBC; jt bookrunners & ld arrangers: J.P. Morgan Sec & Merrill
2014/01/08 Permian Basin Materials
Provider/Ready-Mix Concrete & Sand, Gravel & Limestone Aggregate
GE Capital, Corporate Finance
Admin Agent
72.5 Revolver
Supports Crockett County Mining, Highland Concrete & Wallach Concrete acquisitions; sole Ld Arranger & bookrunner: GE Cap Mkts
2014/01/13 Perry Ellis
Designer/Apparel, Accessories & Fragrances
Wells Fargo/BofA
Agent/Syndication Agent
125.0 Revolver
Max $200MM w/ $25MM increments
2014/03/25 Phillips Pet Food & Supplies
Distributor/Pet Food & Supplies
BMO Harris Bank
Jt Ld Arranger, Jt Bookrunner & Admin Agent
60.0 Revolver
Thomas H. Lee Partners portfolio company
2014/01/22 Proteus Digital Health
Provider/Digital Health System
Oxford Finance, Silicon Valley Bank
31.5 Revolver/Term Loan
Supports growth
2014/02/12 Rainbow Play Systems
Manufacturer/Children's Wooden Outdoor Playscapes
NewStar Business Credit
11.0 Revolver/Term Loans
Refinances debt
2014/01/31 Recochem
Distributor/Consumer & Industrial Chemical Products
GE Capital Canada Finance
Admin Agent & Swingline Lender
165.0 Revolver
Sold ld arranger & bookrunner: GE Capital Markets
2014/03/20 Rent-A-Center
Provider/Rent-to-Own Services
JPMorgan Chase
Admin Agent
900.0 $675MM Revolver/$225MM Term Loan
Up to $1.15B w/ accordion; syn agents: BofA, BBVA Compass, Wells Fargo & SunTrust Bank
2014/03/31 RockPile Energy Services
Provider/Energy Services
Citibank & Wells Fargo Bank
Jt Ld Arrangers & Jt Bookrunners
100.0 Revolver
Admin agent: Citibank; up to $250MM w/ accordion
2014/01/07 Samuels Jewelers
GB Credit Partners
10.0 Term Loan
Supported by second lien on inventory & receivables
2014/02/18 Seadrill Partners
Operator/Offshore Drilling Rigs
Deutsche Bank Securities
Sole Global Coordinator
1900.0 $100MM Revolver/$1.8B Term Loan B
Jt ld arrangers & jt bookrunners: Deutsche Bank Sec, Credit Suisse Sec, Barclays & RBC Cap Mkts; co-managers: ABN AMRO Cap, HSBC Sec, ING Bank & BNP Paribas Sec
2014/02/03 Senco Brands
Manufacturer/Contractor Power Tools
LBC Credit Partners
Admin Agent, Sole Ld Arranger & Sole Bookrunner
42.5 Term Loan
Supports Senco recap
2014/01/27 Shop-Vac
Provider/Wet-Dry Vacuum Cleaners
GE Capital, Corporate Finance
Agent & Sole Lender
70.0 Revolver
Supports international growth
2014/01/15 Silgan Holdings
Supplier/Shelf-Stable Food Packaging Services
Wells Fargo Sec, Merrill, Citigroup Global Mkts & Goldman Sachs
Jt Ld Arrangers & Jt Book Mgrs
1727.7 Multicurrency Revolver & Term Loans
Multicurrency revolver: $1B; term loans: US$365MM, €220MM & C$70MM
2014/02/06 Silver Airways
GB Credit Partners
Admin Agent
73.0 Revolver
Victory Park Capital portfolio company
2014/03/14 Sipi Metals
Recycler/Precious Metals
BMO Harris Bank
Admin Agent
54.0 ABL Facility
2014/02/18 Sotheby’s
GE Capital, Corporate Finance
Admin & Col Agent
600.0 Revolver
Jt ld arranger & jt bookrunner: GE Cap Mkts
2014/01/15 Star Gas Partners
Retail Distrib/Home Heating Oil
JPMorgan Chase
Admin Agent
450.0 Revolver
Co-syn agents: BofA & RBS Citizens; jt ld arrangers & jt bookrunners: JPM Sec, Merrill & RBS Citizens; co-doc agents: KeyBank, Regions Bank, WFCF & BMO HB
2014/01/06 Stoli Group USA
GE Capital, Corporate Finance
50.0 Revolver
Up to $1.05B w/ accordion; sole bookrunner: PNC Cap; jt ld arrangers: PNC Cap, J.P. Morgan Sec, Merrill & Wells Fargo; co-syn agents: BofA, JPM Chase & Wells Fargo
2014/01/07 Talon International
Supplier/Custom Zippers
Union Bank
8.5 $3.5MM Revolver/$5MM Term Loan
Repays $5.8MM debt to CVC California; supports growth
2014/02/06 Tangent Medical
Developer/IV Therapy Services
GE Capital, Healthcare Fin Services
Agent & Sole Lender
5.0 Term Loan
Supports commercialization & development efforts
2014/03/05 Teters Floral Products
Supplier/Artificial Floral Products
BofA Business Capital
20.0 Revolver
2014/03/24 Textron
Provider/Aviation Products
JPMorgan Chase
Admin Agent
500.0 Term Loan
5-year term; supports Beechcraft acquisition; syn agents: Citibank & BofA
2014/01/21 Times Publishing Company
Crystal Financial
28.0 Term Loan
2-yr term; refinances debt; supports growth
2014/03/04 Tronair
Provider/Ground Support Equipment
BMO Harris Bank Sponsor Finance
Admin Agent, Jt Ld Arranger & Jt Bookrunner
51.0 Revolver
Levine Leichtman portfolio company
2014/03/25 Trover Solutions
Provider/Outsourced Insurance Subrogation
BMO Harris Bank, Sponsor Finance
Jt Ld Arranger, Jt Bookrunner & Admin Agent
124.5 Revolver
ABRY Partners portfolio company
2014/02/18 United Road Services
Provider/Vehicle Transport & Logistics Services
PNC Bank
50.0 ABL Facility
Funds Waggoner Trucking division acquisition; Charlesbank Cap Partners portfolio company
2014/03/28 UTi Worldwide
Provider/Supply Chain Services
Citigroup Global Mkts, Morgan Stanley Sr Funding & Bank of the West
150.0 ABL Revolver
5-year term
2014/02/06 ValueVision Media
Multichannel Retailer/Various Merchandise
PNC Bank
75.0 $60MM Revolver/$15MM Term Loan
4-year term; $25MM increase
2014/02/25 Venio (d/b/a Keane)
Provider/Outsourced Unclaimed Property Solutions
BMO Harris, Sponsor Finance
Jt Ld Arranger, Jt Bookrunner & Admin Agent
45.0 Revolver
Lovell Minnick Partners portfolio company
2014/03/28 Vermont Castings Group
Manu & Distrib/Hearth Products
The PrivateBank
27.5 $20MM Revolver/$7.5MM Term Loan
2014/03/13 Vicwest
Distributor/Storage & Handling Systems
Admin Agent
120.0 ABL Facility
Up to $145MM w/ accordion; lenders: CIBC, National Bank of Canada, RBC & Scotiabank; replaces existing revolver
2014/03/03 Wesco Aircraft Holdings
Provider/Chemical Supply Chain MGMT Solutions
BofA Merrill Lynch
Ld Arranger
525.0 Term Loan B
Supports Haas Group acquisition; joint bookrunners: Barclays, Morgan Stanley SF & RBC Cap Mkts
2014/03/18 Windsor Quality Food
Manufacturer/Private Label Food
BMO Harris
Admin Agent, Jt Ld Arranger, Jt Bookrunner
100.0 Revolver
2014/01/07 Wise Metals Group
Provider/Alloys, Recycling & Maintenance Services
GE Capital, Corporate Finance
Admin Agent
340.0 Revolver
Sole ld arranger & jt bookrunner: GE Cap Mkts
2014/01/07 World Energy Solutions
Provider/Energy MGMT Services
Commerce Bank
8.0 $2.5MM Revolver/$6MM Term Loan
Three-year term; replaces previous $9MM facility w/ SVB
2014/01/22 Worldwise
Manufacturer/Pet Accessories
Salus Capital Partners
20.0 Revolver
2014/03/25 WTG Fuels
Distributor/Fuel & Propane
BBVA Compass
Sole Ld Arranger & Admin Agent
60.0 ABL Facility
2014/03/25 XPO Logistics
Provider/Transportation Logistics
Morgan Stanley Bank, JPM, Credit Suisse, Citibank Deutsche KeyBank
Ld Lenders
415.0 ABL Facility
4-year term
2014/01/21 Xtreme Drilling and Coil Services
Operator/Drilling Rigs
Wells Fargo
Lead Bank
150.0 Revolver
3-yr term; up to $175MM w/ accordion
2014/02/14 YRC Worldwide
Provider/Shipping Services
RBS Citizens Business Capital
Admin Agent
1150.0 $450MM ABL Revolver/$700MM Term Loan
5-year term; debt refi; jt ld arrangers: CIT Corp Fin & BofA Merrill; CIT Bank provided financing