Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 1/1/10 through 3/31/10.
LENDER(S) & ROLE | BORROWER & INDUSTRY | AMOUNT* | STRUCTURE & NOTES | |
---|---|---|---|---|
SBA Communications Operator/Wireless Communications |
TD Securities/RBS Securities Joint Lead Arrangers |
500.0 | Revolver Five-year term |
|
Chemtura Manufacturer/Specialty Chemicals |
CIT Admin Agent |
450.0 | $150MM Revolver/$300MM Term Loan Refinances existing DIP facilities |
|
Delek US Holdings Provider/Diversified Energy Svs |
Wells Fargo Capital Finance Admin. Agent |
300.0 | Revolver Four-year term/Replaces previous facility with SunTrust |
|
Kehe Food Distributors Distributor/Specialty Foods |
GE Capital Corporate Finance Collateral Agent |
300.0 | Revolver Supports borrower's acquisition strategy |
|
Carmike Cinemas Operator/Cinemas |
J.P. Morgan Securities/Citigroup Global Markets Joint Lead Arrangers |
295.0 | $30MM Revolver/$265MM Termloan Revolver: Three-year term/Term Loan: Six-year term/Macquarie Capital as doc agent |
|
OM Group Provider/Specialty Chemicals |
PNC Bank, N.A. Lead Lender |
250.0 | Revolver Three-year term/Accordion feature to $325MM |
|
Ormet Corporation Producer/Aluminum |
Wachovia Capital Finance/BONY Mellon Lenders |
160.0 | $50MM Revolver/$110MM Term Loan Revolver: Three-year term (Wachovia)/Term Loan: four-year term (BONY Mellon) |
|
Severstal Columbus Manufacturer/Steel |
CIT Admin Agent |
150.0 | Revolver |
|
AMN Healthcare Provider/Healthcare Staffing |
Bank of America Admin Agent |
150.0 | $40MMRevolver/$110MMTerm Revolver: Two-year term/Term Loan: Three-year term |
|
Harden Healthcare Provider/Home Healthcare Services |
GE Capital Markets Co-Lead Arranger |
145.0 | Revolver/Term Loan GE Capital: Admin Agent |
|
Revlon Consumer Products Provider/Cosmetics |
CIT Admin Agent |
140.0 | Revolver |
|
International Coal Group Producer/Coal |
GE Capital Admin. Agent |
125.0 | Revolver Four-year term/GE Capital Markets, UBS & Morgan Stanley also in deal |
|
U.S. HealthWorks Provider/Occupational Medicine |
GE Capital Markets Lead Arranger |
125.0 | Revolver GE Healthcare Financial Services: admin agent |
|
Protect America Operator/Security Alarm Systems |
CapitalSource Lead Agent |
125.0 | Revolver BofA Merrill Lynch: syn agent/Goldman Sachs: doc agent/Imperial Capital: fin advisor |
|
Duckwall-ALCO Regional Broad Line Retailer |
Bank of America/Wells Fargo Retail Finance Lenders |
120.0 | Revolver Four-year term |
|
JWTR Owner/Timberlands Acreage |
GE Capital Markets Lead Arranger |
105.0 | $50MM ABL/$55MM Incremental Refinances debt/GE Corporate Finance sole lender in ABL facility |
|
U-Haul Operator/Moving & Storage |
GE Capital Lender |
85.0 | Term Loan Refinances existing securitization facility/Funding through GE Capital Financial |
|
Viasystems Group Provider/Printed Circuit Boards |
Wells Fargo Capital Finance Lender |
75.0 | Revolver Supports merger with Merix announced Q4 2009 |
|
Accellent Manufacturer/Medical Devices |
Credit Suisse Lender |
75.0 | Revolver Five-year term/refinances previous credit facilities with longer term |
|
TeleCommunication Systems Provider/Wireless Communications |
Silicon Valley Bank Admin Agent |
75.0 | $30MM Revolver/$35MM Term Loan M&T Bank is co-lender |
|
Metalico Provider/Scrap Metal Recycling & Lead-Based Products |
JP Morgan/RBS Business Capital/Capital One Lenders |
65.0 | $57MM Revolver/$8MM Term Loan Replaces revolver & term loan with Wells Fargo Foothill & Ableco Finance |
|
Grede Holdings Operator/Iron Foundries |
Bank of America/Wells Fargo Capital Finance Co-Lenders |
60.0 | Revolver Three-year term |
|
BioScrip Provider/Pharmaceutical Care Solutions |
Healthcare Finance Group Lender |
51.0 | $31MM Revolver/$20MM Term Loan Part of $150MM facility/Supports acquisition of Critical Homecare Solutions |
|
Photronics Manufacturer/Photomasks |
JP Morgan Chase Admin Agent |
50.0 | Revolver Three-year term/RBS Citizens: Syn Agent |
|
GTEC Provider/Technology Solutions |
U.S. Gov't Programs | SunTrust Bank Lender |
50.0 | Revolver Replaces previous facility |
Shoe Carnival Retailer/Footwear |
Wachovia Bank/Wells Fargo Securities Admin Agent/Lead Arranger |
50.0 | Revolver |
|
MEGA Brands Manufacturer/Toys |
Arts & Crafts | Wachovia Capital Fianance (Central & Canada) Lenders |
50.0 | Revolver |
FishNet Security Provider/Information Security Solutions |
PNC Business Credit Lender |
45.0 | Revolver Portfolio Company of Lake Capital Partners II |
|
Eatem Manufacturer/Food Flavor Systems |
GE Antares Capital Admin Agent |
37.0 | Revolver Supports acquisition by Linsalata Capital Partners |
|
Five Star Quality Care Operator/Senior Living Facilities |
Jeffries Finance Lender |
35.0 | Revolver Three-year term/Refinances existing debt |
|
Ultralife Provider/Standby Power Solutions |
RBS Business Capital Lender |
35.0 | Revolver Replaces previousl facility with JP Morgan Chase and M&T Trust Co |
|
Technical Comsuer Products Distributor/Lighting Products |
PNC Business Credit Lender |
30.0 | Revolver Western Reserve Partners advised borrower on transaction |
|
LoJack Corporation Provider/Mobile Assets Recovery |
RBS Citizens/TD Bank Admin Agent, Lead Arranger/Lender |
30.0 | Multi-Currency Facility Two-year term/Replaces facility with Citizens Bank of MA & RBC as Canadian lender |
|
Pescanova Distributor/Seafood |
PNC Bank Lender |
25.0 | Revolver Refinances existing debt |
|
Presstek Manufacturer/Digital Offset Printing |
PNC Bank, N.A. Lender |
25.0 | Revolver Three-year term |
|
Neapco Provider/Drivetrain Solutions |
PNC Business Credit Lender |
20.0 | Revolver Refinances existing debt |
|
Plastican Manufacturer/Plastic Packing Solutions |
CORE Business Credit Lender |
15.5 | Revolver |
|
Solomon Page Group Provider/Staffing Services |
Sterling Resource Funding Lender |
15.3 | $14MM Revolver/$1.3MM Term Loan Lender also provided $.7MM Standby LOC |
|
NxStage Medical Manufacturer/Dialysis Products |
Silicon Valley Bank Lender |
15.0 | Revolving Credit Line Two-year term |
|
The Grateful Palate Importer/Australian Wines |
CORE Business Credit Lender |
12.5 | Revolver |
|
The Brix Group Provider/Wireless & Electronic Communications |
Bridge Bank Lender |
12.0 | Revolver |
|
Paragon Metals Manufacturer/Automotive Parts |
PNC Business Credit Lender |
9.6 | $6.8MM Revolver/$1.8MM Term Loan/$1MM CAPEX Line Refinances existing debt |
|
Franklin Electronic Publishers Provider/Handheld Electronic Information |
PNC Bank Lender |
9.0 | Revolver Supports privatization by management |
|
NeuroMetrix Manufacturer/Medical Devices |
Comerica Bank Lender |
7.5 | Revolver One-year term |
|
Clark Holdings Provider/Supply Chain Solutions |
Cole Taylor Bank Lender |
6.0 | Revolver Partially refinances previous facility with Bank of America |
|
All Metro Health Care Services Provider/Home Healthcare Services |
Gemino Healthcare Finance Lender |
6.0 | Credit Line Replaces existing debt |
|
Mission Bell Manufacturing Manufacturer/Architectural Woodwork |
Bridge Bank Lender |
5.5 | Revolver |
|
National Paint Industries Producer/Paints |
Special Coatings | Sterling National Bank Lender |
5.0 | Revolver Replaces existing debt |
Westfield Steel Wholesaler/Steel |
Keltic Financial Services Lender |
5.0 | Credit Line BDO Capital Advisors served as investment banker on transaction |
|
Access Point Provider/Telecommunications |
Thermo Credit Lender |
4.5 | Revolver |
|
Wilmac Provider/Healthcare Services |
Gemino Healthcare Finance Lender |
4.2 | Revolver |
|
Superior Fragrances Distributor/Fragrances |
Sterling National Bank Lender |
4.0 | Revolving Credit Line Refinances previous facility |
|
Consensus Orthopedics Manufacturer/Orthopedic Implant Devices |
US Capital Partners/Bridge Bank Lenders |
3.5 | Revolver/Term Loan |
|
DMG America Supplier/Dental Supplies |
Sterling National Bank Lender |
2.3 | Credit Line |
|
Optex Systems Holdings Manufacturer/Optical Sighting Systems |
Peninsula Bank Business Funding Lender |
2.0 | Credit Line One-year term/Deal pending |
|
Davis-Frost Producer/Paints |
Quality Coatings | Keltic Financial Services Lender |
1.5 | Credit Line |
Zynex Inc Provider/Pain Management Systems |
CapitalSource Bank Lender |
0.0 | Revolver Three-year term |
|
Optex Systems Holdings Manufacturer/Optional Sighting Systems |
Peninsula Bank Business Credit Lender |
0.0 | Credit Line One-year term/Deal closed |