Deal Charts

ABL Deal Chart 2018 Q2

Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 4/01/18 through 6/30/18.

DATE BORROWER/INDUSTRY LENDER/ROLE AMOUNT STRUCTURE/NOTES
2018/04/25 10x Genomics
Provider/Chromium Controller Platform
SVB
Lead Arranger
75 Revolver
2018/05/16 3P Processing
Provider/Metal Finishing
MB Business Capital
Lender
12 Revolver
Supports acquisitions
2018/04/24 5N Plus
Producer/Engineered Materials
HSBC
Lead Arranger
79 Revolver
Replaces previous revolver
2018/05/23 Abacus Finance Group
Private Equity Firm
River Associates Investments
Admin Agent
22 Revolver
Supports acquisition of GAHN
2018/05/30 AccessOne
Provider/Healthcare Financing Options
Capital One
Admin Agent
150 Revolver
Supports acquisition of HealthFirst Financial
2018/05/10 Akami Technologies
Provider/Content Delivery Network Services
JPMorgan Chase
Admin Agent
500 Revolver
Jt lead arrangers; JPMorgan, Morgan Stanley, Merrill Lynch, HSBC, TD & Sumitomo Mitsui
2018/06/28 Aleris International
Manufacturer/Aluminum Rolled Products
Deutsche Bank
Admin Agent
1500 Revolver
Jt lead arrangers; Deutsche, Credit Suisse, Barclays, JPMorgan, Merrill Lynch
2018/04/02 Alkermes
Provider/Pharmaceuticals
Morgan Stanley
Admin Agent
284.5 Term Loan
Replaces previous facility
2018/05/15 Alliance Time
Distributor/Luxury Brand Watches
CIT Group
Lead Arranger
30 Revolver
Supports future growth
2018/05/09 Apergy
Provider/Oil Field Equipment
JPMorgan Chase
Admin Agent
545 $415MM Term Loan/$250MM Revolver
Supports separation from Dover
2018/06/14 Atlanticus Holdings
Provider/Financial Services
Credit Suisse
Lead Arranger
100 ABL Revolver
Replaces previous facility with TowerBrook Capital Partners
2018/06/06 Auramet Trading
Retailer/Precious Metals
ING Capital
Admin Agent
185 Revolver
Facility includes additional $50MM accordion
2018/06/26 Aurora Cannabis
Supplier/Cannabis
BMO
Lender
200 $150MM Term Loan/$50MM Revolver
Facility includes additional $50MM accordion
2018/06/29 AVANGRID
Provider/Sustainable Energy
JPMorgan Chase
Admin Agent
2500 Revolver
Jt lead arrangers; JPMorgan, Merrill Lynch, MUFG, Santander, BBVA Securities
2018/04/02 Axonics Modulation Technologies
Developer/Implantable Neuromodulation Technology
SVB
Lender
20 Revolver
Supports refi
2018/04/17 Basic Energy Services
Provider/Well Site Services
USB
Admin Agent
150 ABL Revolver
Facility upsized from $120MM
2018/05/01 BlueVine Capital
Provider/Small Business Funding
Credit Suisse
Lender
200 Revolver
2018/06/13 Braviant
Provider/Tech-Enabled Credit Solutions
Keystone National Group
Lender
50 Revolver
2018/04/23 Bristow Group
Provider/Industrial Aviation Services
Barclays Bank
Admin Agent
75 ABL Revolver
Jt lead arrangers; Barclays, Credit Suisse
2018/05/23 BRP
Provider/Powersports Vehicles
Bank of Montreal
Admin Agent
1300 Revolver/Term Loan
Supports refi
2018/05/24 BWX Technologies
Supplier/Nuclear Components & Fuel
Wells Fargo
Admin Agent
800 $500MM Revolver/$300MM Term Loan
Facility used to pay existing debt
2018/05/30 Cariage Services
Provider/Deathcare Services
BofA
Admin Agent
150 Revolver
Facility used to pay existing debt
2018/06/27 Celestica
Manufacturer/Supply Chain Solutions
BofA
Admin Agent
800 $450MM Revolver/$350MM Term Loan
Replaces existing facility
2018/05/10 Century Aluminum
Producer/Primary Aluminum
Wells Fargo
Admin Agent
175 Revolver
Replaces existing revolver
2018/05/11 CIBC
Retailer/Health Foods
Lifeway Foods
Lender
10 Revolver
2018/06/28 Clarus
Business Development Company
JPMorgan Chase
Admin Agent
150 Revolver
Facility upsized by $75MM
2018/05/24 Cloud Peak Energy
Producer/Coal
PNC
Admin Agent
150 Revolver
Facility downsized from $400MM
2018/05/17 Cobalt 27 Capital
Producer/Minerals
Nation Bank of Canada
Lead Arranger
80 Revolver
2018/04/18 Compass Diversified Holdings
Operator/Middle Market Businesses
BofA
Admin Agent
1100 $600MM Revolver/$500MM Term Loan
Facility used for future expansions & acquisitions
2018/05/23 Conn's
Retailer/Furniture & Home Appliances
BofA
Admin Agent
650 ABL Revolver
Jt lead arrangers; BofA, J.P. Morgan, Regions, MUFG
2018/04/18 CoreCivic
Provider/Diversified Government Solutions
BofA
Admin Agent
1000 $800MM Revolver/$200MM Term Loan
Replaces previous facility
2018/05/22 Cortland Capital
Manufacturer/Phosphate=-Based Fertilizer
Itafos
Admin Agent
165 Term Loan
Facility used for working capital
2018/06/03 Cumulus Media
Operator/Broadcasting Stations
Wilmington Trust
Admin Agent
1300 Term Loan
2018/04/04 CytoSorbents
Provider/Critical Care Immunotherapy
Bridge Bank
Lender
15 Term Loan
Facility upsized from $10MM
2018/04/02 Delek US Holdings
Provider/Downstream Energy
Wells Fargo
Admin Agent
1700 $1B ABL Revolver/$700MM Term Loan
Jt lead arrangers; Wells Fargo, Barclays, Regions, SunTrust Robinson Humphrey
2018/06/14 Direct Source Seafood
Retailer/Crab & Shrimp Products
Veritas Financial Services
Admin Agent
35 ABL Revolver
2018/04/19 Dollar Tree
Operator/Retail Stores
JPMorgan Chase
Admin Agent
2030 $1.25B Revolver/$782MM Term Loan
2018/05/06 Extreme Networks
Provider/Software-Driven Solutions
Bank of Montreal
Admin Agent
230 $190MM Term Loan/$40MM Revolver
2018/04/26 FERRO
Provider/Specialty Pigments & Colorants
Deutsche, PNC
Lead Arrangers
1320 $820MM Term Loan/$500MM Revolver
Supports refi
2018/04/17 FilmNation Entertainment
Producer/Independent Movies
BofA
Admin Agent
120 Revolver
Facility used for workign capital
2018/05/25 Frost Banks
Provider/Property Evaluations
Kimbell Royalty Partners
Admin Agent
200 Revolver
Supports acquisition of Haymaker Minerals & Royalties
2018/05/06 Fusion
Provider/Cloud Services
Goldman Sachs
Admin Agent
680 $640MM Term Loan/$40MM Revolver
Supports acquisition of Birch Communications
2018/04/26 Genocea Biosciences
Developer/T-Cell Therapeutics
Hercules Capital
Lender
14 Term Loan
Supports refi
2018/05/08 Gill Holding Company
Manufacturer/Stamped Metal Products
Huntington Business Credit
Lender
130 Revolver/Term Loan
Supports refi
2018/04/24 Grasshopper Solar
Provider/Solar Energy Services
Deutsche Bank
Lender
209 Revolver
2018/05/21 Hallador Energy
Producer/Coal
PNC Bank
Admin Agent
267 $147MM Term Loan/$120MM Revolver
2018/06/04 Harvest Oil
Provider/Oil & Gas
JPMorgan Chase
Admin Agent
1000 Revolver
Facility used as exit financing
2018/06/04 Heritage Travelware
Distributor/Travel Goods
Encina Business Credit
Lender
20 ABL Revolver
Supports refi
2018/05/11 HSBC
Provider/Industrial Services
Vertex Resources Group
Lead Arranger
70 Revolver
Supports future growth
2018/06/14 Intertape Polymer Group
Manufacturer/Paper & Film-Based Tapes
BofA
Admin Agent
600 Revolver
Replaces existing facility
2018/05/29 JackRabbit
Retailer/Athletic Supplies
Encina Business Credit
Lender
15 ABL Revolver
Supports refi
2018/05/29 Keane Group
Provider/Integrated WellCompletion Services
Barclays
Admin Agent
350 Term Loan
Jt lead arrangers; Barclays, J.P. Morgan, BofA Merrill Lynch
2018/06/12 Kemper
Provider/Insurance Solutions
JPMorgan Chase
Admin Agent
550 $300MM Revolver/$250 Term Loan
Jt lead arrangers; JPMorgan Chase, Merrill Lynch, Wells Fargo Securities
2018/05/08 KeyW
Provider/National Security Solutions
RBC
Admin Agent
340 $290MM Term Loan/$50MM Revolver
Jt lead arrangers; RBC Capital Markets, Fifth Third, JPMorgan, SunTrust
2018/06/27 KKR Capital Markets
Provider/Security Brokerage Services
Mizuho Bank
Admin Agent
750 Revolver
Facility used to pay existing debts
2018/04/17 Lamination Specialties
Manufacturer/Electrical Steel Laminations
MB Business Capital
Lender
24.5 Revolver
Supports acquisition
2018/06/28 Legendary Entertainment
Provider/Global Entertainment
J.P. Morgan
Lead Arranger
1000 Revolver
Jt syndicates; Union Bank, BofA, Comerica, CIT, Fifth Third, SunTrust
2018/05/03 Lone Oak Payroll
Provider/Payroll Funding Solutions
Wells Fargo Capital Finance
Lender
17 Revolver
2018/05/30 MGG
Provider/Intent-Based Technology
Propel Media
Lender
57 $50MM TermLoan/$7MM Revolver
2018/05/29 Microchip Technology
Manufacturer/Microchips
JPMorgan Chase
Admin Agent
6800 $3.8B Revolver/$3B Term Loan
Suports acquisition of Microsemi
2018/06/11 Milestone Partners
Private Equity Firm
Monroe Capital
Admin Agent
21 Revolver
Supports acquisition of RedZone Robotics
2018/05/03 Miramax
Producer/Films
BofA merrill Lynch, MUFG
Lender
300 Revolver
2018/06/07 Motorcar Parts of America
Manufacturer/Automotive Aftermarket Parts
PNC Bank
Lender
230 $200MM Revolver/$30 MM Term Loan
Replaces previous facility
2018/04/18 National Research Corporation
Provider/Customer Services Analytics
First National Bank of Omaha
Lender
70 $55MM Term Loan/$15MM Revolver
2018/06/08 Nautilus Minerals
Provider/Ocean Mining Services
Deep Sea Mining Finance
Lender
34 Revolver
Facility used for working capital
2018/04/02 NextGen Healthcare
Provider/Medical & Dental Services
JPMorgan Chase
Admin Agent
300 Revolver
Replaces previous facility
2018/06/19 Novacap
Private Equity Firm
Antares
Admin Agent
145 Revolver
Supports acquisition of Horizon Telcom
2018/04/23 Nu Skin Enterprises
Manufacturer/Anti-Aging Products
BofA
Admin Agent
750 $450MM Revolver/$400MM Term Loan
Jt lead arrangers; Merrill Lynch, HSBC, Bank of the West, Fifth Third
2018/05/29 Nxt-ID
Developer/Technology Products & Services
Sagard Credit Partners
Lender
16 Term Loan
Supports refi
2018/04/18 OnDeck
Provider/Small Business Loans
Pioneers Gate
Lender
100 ABL Revolver
2018/04/12 OSG Billing Services
Provider/Billing & Payment Solutions
SunTrust Robinson Humphreys
Lead Arranger
360 Revolver
Supports refi
2018/05/14 PennantPark
Business Development Company
Capital One
Admin Agent
420 Revolver
2018/04/30 People's Care Holdings
Provider/Adult Care Services
Crystal Financial
Lender
15 Term Loan
Used to pay existing debt
2018/05/08 R1 RCM
Provider/Revenue Cycle Management
BofA
Admin Agent
285 $270MM Term Loan/$25MM Revolver
Supports acquisition of Intermedix
2018/06/15 Reata Pharmaceuticals
Developer/Therapeutic Services
SVB, Oxford
Lead Arrangers
125 Term Loan
Facility upsized from $45MM
2018/06/05 Recursion Pharmaceuticals
Provider/AI Drug Discovery
Square 1 Bank
Lender
20.5 Revolver
Facility supports future growth initiatives
2018/05/11 Restoration Robotics
Developer/Medical Devices
Solar Capital, Bridge Bank
Lenders
20 Revolver
Facility used to pay existing debts
2018/04/11 Resverlogix
Provider/Clinical Biotechnology
Third Eye Capital
Admin Agent
30 Revolver
2018/04/30 Resverlogix
Developer/Apabetalone
Third Eye Capital
Admin Agent
30 Revolver
2018/06/12 Rolta Advizex Technologies
Retailer/Information Technology
Huntington Business Credit
Lender
20 Revolver
Supports refi
2018/04/12 Rotech Healthcare
Provider/Home Medical Products
SunTrust
Admin Agent
185 $160MM Term Loan/$25MM Revolver
Jt lead arrangers; SunTrust, Regions, Fifth Third
2018/04/30 RumbleOn
Operator/e-Commerce Platform
Hercules Capital
Lender
15 Revolver
Supports business growth
2018/04/11 SBA Senior Finance
Provider/Wireless Communications Services
TD Bank
Admin Agent
3650 $2.4B Term Loan/$1.25B Revolver
Facility upsized from $1B
2018/04/30 Shale Support Holdings
Provider/Hydraulic & Logistical Solutions
Siena Lending Group
Lender
10 Revolver
Supports growth & expansion
2018/05/01 Smucker
Manufacturer/Jam
BofA
Lender
1500 Term Loan
Supports acquisition of Ainsworth Pet Nutrition
2018/05/23 Sportsman's Warehouse
Retailer/Outdoor Sporting Goods
WFCF
Lender
250 Revolver
Facility upsized by $100MM
2018/06/18 Standardized Sanitation
Provider/Cleaning & Maintenance Networking
Siena Lending Group
Lender
10 Revolver
Supports refi
2018/05/01 Stanley Furniture
Manufacturer/Residential Furnishings
North Mill Capital
Lender
16 ABL Revolver
Used to pay existing debt
2018/04/03 Stone Point Capital
Private Equity Firm
Capital One
Admin Agent
65 Revolver
Supports acquisition of Grace Hill
2018/06/28 Summer Infant
Distributor/Infant Products
BofA, Pathlight
Lead Arrangers
77.5 $60MM ABL Revolver/$17.5MM Term Loan
Supports refi
2018/05/10 Superior Pipeline
Producer/Natural Gas
BOKF
Admin Agent
200 Revolver
Supports future acquisitions
2018/06/01 Superior Plus
Provider/Propane
TD, CIBC
Lead Arrangers
400 Revolver
Supports acquisition of NGL Energy
2018/04/18 Supermico Computer
Provider/Server & Storage Technology
BofA
Lead Arranger
250 Revolver
2018/05/07 Takeda Pharmaceuticals
Manufacturer/Pharmaceuticals
JPMorgan Chase
Admin Agent
308.5 Revolver
Supports acquisition of Shire
2018/04/17 Technical Consumer Products
Manufacturer/Lighting Technologies
Encina Business Credit
Lender
45 Revolver
Supports refi
2018/05/08 Tecogen
Manufacturer/Congeneration Products
Webster Business Credit
Lender
10 Revolver
Used to repay existing debt
2018/04/10 Terex
Manufacturer/Material Processing Products
Credit Suisse
Admin Agent
600 Revolver
Facility upsized from $450MM
2018/06/18 The Finish Line
Retailer/Athletic Shoes
PNC Bank
Admin Agent
315 Revolver
Supports refi
2018/06/22 TriNet
Provider/HR Solutions
BofA
Admin Agent
675 $425MM Term Loan/$250MM Revolver
Jt lead arrangers; Merrill Lynch, Bank of the West, JPMorgan Chase, Wells Fargo Securities
2018/04/23 University Health System
Provider/Advanced Healthcare
White Oak Healthcare Finance
Admin Agent
30 Revolver
Division of Biomedical Research Foundation of NW Louisiana
2018/04/03 W.R. Grace
Producer/Specialty Chemicals
Goldman Sachs
Admin Agent
1350 $950MM Term Loan/$400MM Revolver
Supports acquisition of Albemarle Corporation
2018/06/14 WaterBridge Operating
Provider/Water Management Services
SunTrust Bank
Lead Arranger
200 Revolver
Facility supports future investments
2018/06/05 Zacky & Sons Poultry
Distributor/Premium Poultry
Great Rock Capital
Lender
25 Term Loan
Supports refi
2018/04/12 ZAGG
Producer/Mobile Accessories & Technologies
KeyBank
Admin Agent
85 Revolver