Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 1/1/11 through 3/31/11.
| BORROWER/INDUSTRY | LENDER/ROLE | AMOUNT | STRUCTURE/NOTES | |||
|---|---|---|---|---|---|---|
| Ryerson Distributor/Metals |
GE Capital, Corporate Finance Co-Collateral Agent |
1350.0 | Revolver GE Capital Markets: Co-syn agent/Refinance existing facility |
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| Waste Industries USA Provider/Non-Hazardous Solid Waste Collection |
Bank of America Lead Lender |
750.0 | Revolver Wells Fargo, Macquarie: Lead arrangers/SunTrust Bank: Co-doc agent |
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| Unisource Worldwide Provider/Customer Solutions |
Bank of America Merrill Lynch, Wells Fargo, Barclays Capital Lead Lenders |
640.0 | Revolver Five-year term |
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| National Mentor Holdings Provider/Home |
Community-Based Health | Human Services | UBS Admin Agent |
605.0 | $75MM Revolver/$530MM Term Loan Revolver: Five-year term/Term loan: Six-year term |
|
| Winn-Dixie Stores Operator/Grocery Stores |
GE Capital, Corporate Retail Finance/Wells Fargo Capital Finance Co-Collateral Agent/Co-Coll Agent, Admin Agent |
600.0 | Revolver GE Capital Markets: Joint lead arranger/Refinances existing facility |
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| Avista Provider/Energy Production |
Union Bank/Wells Fargo Bank Admin Agent, Issuing Bank/Syn Agent, Issuing Bank |
400.0 | Credit Line Four-year term/The Bank of New York Mellon, KeyBank, U.S. Bank: Co-doc agents, lenders |
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| Kraton Performance Polymers Producer/Polymers |
Styrenic Block Copolymers | Merrill Lynch, Credit Suisse Securities, Goldman Sachs Jt Lead Arrangers, Jt Bookrunners |
350.0 | $200MM Revolver/$150MM Term Loan Five-year term/Morgan Stanley Sr Funding, Macquarie Capital: jt lead arrangers, jt bookrunners/BofA: Admin, collateral agent |
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| Brunswick Provider/Marine |
Fitness | Bowling-Billiards Industries | J.P. Morgan Securities Lead Lender |
300.0 | Revolver Merrill Lynch, Wells Fargo Capital Finance: Jt ld arrangers/Replaces existing $400MM revolver |
|
| AboveNet Provider/High Bandwidth Connectivity Solutions |
SunTrust Lead Syndicator |
250.0 | Revolver Five-year term/Repays existing credit facility |
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| Coffeyville Resources Operator/Refinery |
Deutsche Bank Trust Company Americas Admin Agent, Collateral Agent |
250.0 | Revolver Three-and-a-half-year term/Replays previous credit facility |
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| AVG Technologies Provider/Consumer Security Software |
J.P Morgan and Morgan Stanley Arrangers |
235.0 | Term Loan Five-year term |
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| Perfumania Holdings Retailer/Perfumes |
Fragrances | Wells Fargo Bank Admin Agent, Collateral Agent, Swing Line Lender |
225.0 | Revolver Four-year term/BofA: Syn agent/Regions, RBS Biz Capital: Co-doc agents/Wells Fargo Capital Finance, Merrill Lynch: Jt lead arrangers, jt bkrunners |
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| AccentCare Provider/Home Healthcare Services |
GE Capital, Healthcare Financial Services Admin Agent |
205.0 | $25MM Revolving Credit Line/$180MM Term Loan GE Capital Markets: Jt lead arranger, jt bookrunner/Supports Guardian Home Care Holdings acquisition |
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| SC Fuels Distributor/Gasoline |
Diesel Products | Comerica Bank Admin Agent, Lead Arranger |
200.0 | Revolver/Term Loan PNC: Syn agent/U.S. Bank: Doc agent, Bank of the West: New lender |
||
| Griffon Diversified Management |
Holding Company | JPMorgan Chase Bank/J.P. Morgan Securities Lenders/Lead Syndicator |
200.0 | Revolver Five-year term/Replaces existing revolver |
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| Audiovox Marketer/Consumer Electronics Products |
Accessories | Wells Fargo Capital Finance Lead Lender |
175.0 | Revolver Supports Klipsch Group acquisition |
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| The Teaching Company Developer/University-Level Courses |
Senior Secured Loan Program Lender |
170.0 | Revolver GE Capital: Admin agent/Ares Capital: Doc agent |
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| ArchBrook Laguna Distributor/Electronics |
Computer Products | GE Capital, Corporate Finance Admin Agent |
150.0 | Revolver GE Capital Markets: Sole lead arranger/GE Capital, Commercial Distribution Finance provided inventory financing |
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| Tourneau Retailer/Fine Watches |
GE Capital Admin Agent |
150.0 | Revolver GE Capital Markets: Sole lead arranger |
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| Pacer International Provider/Freight Transportation |
Global Logistics Services | Bank of America/Wells Fargo Capital Finance Admin Agent/Co-Agent |
125.0 | Revolver Five-year term |
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| Assisted Living Concepts Operator/Senior Living Residences |
U.S. Bank Admin Agent, Collateral Agent |
125.0 | Revolver Five-year term/Compass Bank, FirstMerit Bank, Harris: Doc agents/RBS Citizens: Lender |
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| Keystone Automotive Operations Distributor/Aftermarket Automotive Accessories |
Equipment | Goldman Sachs Lending Partners Arranger |
120.0 | First Lien Term Loan Keystone entered commitment with BofA for asset-based revolver |
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| Motor Coach Industries International Manufacturer/Intercity Coach Buses |
Burdale Capital Finance Co-Lead Arranger |
85.0 | Revolver Four-year term/Wells Fargo Capital Finance: Lead arranger, agent |
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| Velocity Technology Solutions Provider/Enterprise Software Functionality |
Fifth Third Bank Lender |
80.0 | Revolver Funds business expansion initiatives, strategic acquisition plans |
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| Pregis Provider/Foodservice Packaging |
Hospital Supply Products | Wells Fargo Capital Finance Agent |
75.0 | Revolver Five-year term/Includes $30MM UK facility |
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| United Therapeutics Biotechnology Company |
Wells Fargo Bank Admin Agent |
70.0 | Term Loan Four-year term/Bank of America: Lender |
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| Great Lakes Home Health and Hospice Provider/Home Healthcare |
Hospice Care | Oxford Finance/CIT Healthcare Co-Syn Agent/Admin Agent |
68.5 | $15MM Revolving Credit Line/$53.5MM Term Loan Pouschine Cook Capital Management: Deal source/Supports In-House Hospice acquisition |
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| New Star Metals Operator/Steel Service Centers |
U.S. Bank Asset Based Finance, Aurora Resurgence Lenders |
65.0 | Revolver U.S. Bank: Lead arranger |
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| eBioscience Manufacturer/Reagents |
GE Capital, Healthcare Financial Services Agent, Lender |
55.0 | $10MM Revolving Credit Line/$45MM Term Loan GE Capital Markets: Sole lead arranger, bookrunner/Refinances existing debt |
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| Higher One Provider/College Business Office Operations Management |
Bank of America Admin Agent |
50.0 | Revolver |
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| Impax Laboratories Specialty Pharmaceutical Company |
Wells Fargo Bank Lender, Admin Agent |
50.0 | Revolving Credit Line Four-year term/Replaces existing agreement with Wachovia |
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| KEYW Corp Provider/Agile Cyber Superiority |
Cybersecurity Solutions | Bank of America Lead Lender |
50.0 | Revolver Three-year term/Replaces previous $17.5MM facility with BofA |
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| Flanders Manufacturer/Air Filtration Products |
PNC Bank Lender |
45.0 | Revolver Three-year term/Refinances existing $36MM revolver |
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| Trident Microsystems Provider/High-Performance Semiconductor System Solutions |
Bank of America Agent |
40.0 | Revolver Three-year term |
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| Cambium Learning Group Operator/Voyager |
Sophris | Cambium Learning Technologies | Harris/Barclays Bank Agent/Collateral Agent |
40.0 | Revolver Four-year term/BMO Capital Markets and Barclays Capital: Jt lead arrangers, jt bookrunners |
|
| The Ensign Group Provider/Skilled Nursing |
Assisted Living Services | RBS Asset Finance Lender |
35.0 | Term Loan Seven-year term |
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| Ark Holdings Provider/Skilled Nursing |
CapitalSource Lender |
35.0 | Revolver Five-year term/Deal Source: Behrman Capital/Supports HMR Advantage Health Systems acquisition |
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| Anacor Pharmaceuticals Developer/Small-Molecule Therapeutics |
Oxford Finance/Horizon Technology Finance Lead Lender/Lender |
30.0 | Revolver |
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| CarePoint Partners Provider/Pharmacy |
Related Services | Amalgamated Capital Co-Lead Arranger, Syn Agent |
27.0 | Revolver Deal Source: Waud Capital Partners/Supports refinancing |
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| Ukpeagvik Inupiat Corporation Provider/Social |
Economic Resources | PNC Bank Lender |
25.0 | Revolver Refinances existing debt |
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| Tripwire Provider/IT Security |
Compliance Automation Solutions | U.S. Bank/Silicon Valley Bank Admin Agent/Joint Lender |
25.0 | Revolver Three-year term |
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| Ritz and Wolf Camera & Image Provider/Cameras |
Imaging | Crystal Financial Lender |
25.0 | Revolving Credit Line/Term Loan Refinances existing debt/Supports future growth |
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| OCZ Technology Group Provider/Solid-State Drives for Computing Devices |
Silicon Valley Bank Lender |
25.0 | Revolver One-year term/Replaces previous factoring agreements with SVB, Faunus Group International |
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| Montachem International Distributor/Thermoplastic |
Plastic Resin | Masterbatches | Additives | PNC Bank Lender |
20.0 | Revolver Refinances existing debt |
| Ligand Pharmaceuticals Developer/Small-Molecule Drugs |
Recombinant DNA Proteins | Oxford Finance Lender |
20.0 | Term Loan Three-and-a half-year term/Supports CyDex Pharmaceuticals acquisition |
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| Charming Charlie Retailer/Women's Fashion Accessories |
Handbags | Wells Fargo Capital Finance Lender |
20.0 | Revolver Supports company's growth plans |
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| Ligand Pharmaceuticals BioPharma Company |
Oxford Finance Lender |
20.0 | Revolver Supports CyDex Pharmaceuticals acquisition |
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| Intuity Medical Developer/Technologies in Diabetes Management |
Silicon Valley Bank, Oxford Finance Lenders |
20.0 | Revolver |
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| Mansfield Plumbing Products Manufacturer/Plumbing Fixtures |
Fittings | PNC Bank Lender |
16.3 | Revolver Refinances existing debt |
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| DTLR Retailer/Young Male Lifestyle Products |
Wells Fargo Capital Finance Admin Agent |
15.0 | Revolver Replaces existing facility with another lender |
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| Appliance Recycling Centers of America Recycler/Household Appliances |
PNC Bank Lender |
15.0 | $15MM Revolving Credit Line/$2.5MM Term Loan Three-year term/Replaces credit line, term loan with Spectrum Commercial Services |
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| Factory Connection Retailer/Apparel |
Accessories | Shoes | Wells Fargo Capital Finance Lender |
15.0 | Revolver |
|
| Madison Kipp Producer/Precision Machined Components |
System Subassemblies | First Capital Lender |
13.2 | $10.5MM Credit Line/$2.6MM Term Loan Replaces previous working capital facility |
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| XDx Developer/Non-Invasive Gene Expression Testing |
GE Capital, Healthcare Financial Services Sole Lender |
12.5 | term loan |
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| Oncothyreon Developer/Therapeutic Cancer Treatment Products |
GE Capital, Healthcare Financial Services Lender |
12.5 | Term Loan Supports clinical development activities |
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| Ashley Stewart Retailer/Plus-Size Fashion |
TD Bank Lender |
12.0 | Revolver TD Bank's Commercial Lending Group arranged ABL/Supports future growth |
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| Optical Experts Manufacturing Provider/Optical Media Products |
Services | Cole Taylor Business Capital Lender |
10.0 | Revolver Refinances existing indebtedness |
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| Zanett Provider/Consulting services |
PNC Bank Lender |
10.0 | Credit Line Three-year term |
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| Princess House Distributor/Cookware |
Tabletop | Home Products | Webster Business Credit Lender |
9.0 | Revolver/Term Loan |
|
| Liberator Medical Holdings Provider/Medical Supplies |
PNC Financial Services Group Lender |
8.5 | Credit Line Supports growth |
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| Inuvo Provider/Online Marketing Services |
Bridge Bank Lender |
8.5 | $8MM Revolver/$.47 Term Loan Two-year term/Replaces $5MM revolver with Wachovia |
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| Regency International Business Corp Distributor/Christmas Decor |
Home Accent Products | Sterling National Bank Lender |
7.0 | Credit Line |
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| Westlake Plastics Manufacturer/Molded Plastic Shapes |
Film | New Star Business Credit Lender |
6.5 | Revolving Credit Line/Term Loan/CAPEX Facility |
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| Halvor Lines Provider/Transportation |
Logistics Services | TAB Bank Lender |
5.0 | Revolver |
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| Spar Group Provider/Merchandising |
Marketing | Sterling National Bank Lender |
5.0 | Revolving Credit Line Supports future acquisitions |
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| Comprehensive NeuroScience | Care Management Technologies Provider |
Nervous System Disorders Research/Provider | Behavior Health Analysis | Oxford Finance Lender |
5.0 | Revolving Credit Line |
| Vanguard Healthcare Services Operator/Skilled Nursing Care Facilities |
Oxford Finance Lender |
5.0 | $.8MM Revolving Credit Line/$4.2MM Term Loan Supports acquisition of new Tennessee property |
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| Bacterin International Holdings Manufacturer/Biologics Products |
Bridge Bank Lender |
5.0 | Revolving A/R Line Two-year term |
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| AllianceCare Provider/Home Health Services |
Gemino Healthcare Finance Lender |
5.0 | Revolving Credit Line Refinances existing debt |
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| SynergEyes Provider/Hybrid Contact Lens Technology |
Oxford Finance Lender |
5.0 | $2.5MM Revolving Credit Line/$2.5MM Term Loan |
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| Impact Solutions Consulting Provider/Business Intelligence |
TAB Bank Lender |
4.5 | Revolver |
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| Network FOB Provider/Business-to-Business Shipping |
Peninsula Bank Business Funding Lender |
4.0 | Credit Line |
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| AirXpanders Developer/Tissue Expansion Technology for Surgery |
Oxford Finance Lender |
3.0 | Working Capital Line |
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| WealthEngine Provider/Prospect Research Tools |
Analytics | Comerica Bank Lender |
2.5 | Revolver Supports technical infrastructure, product development |
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| Calibre International Importer/Promotional Products |
Marquette Business Credit Lender |
2.5 | Revolver Refinances previous revolving credit line |
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| JM Oilfield Service Provider/Transportation Services |
TAB Bank Lender |
2.0 | Revolver |
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| NMT Medical Manufacturer/Proprietary Implant Technologies |
LSQ Funding Lender |
2.0 | Revolver One-year term |
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| Sungevity Designer/Solar Lease Program for Homeowners |
Bridge Bank Lender |
2.0 | Credit Line |
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| Vuzix Supplier/Video Eyewear Products |
Bridge Bank Lender |
2.0 | Revolving Credit Line Two-year term |
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| Passaic Rubber Company Manufacturer/Rubber Rollers |
Belting | Calendered Materials | Keltic Financial Services Lender |
1.3 | $1MM Revolving Credit Line/$.25MM Term Loan |
|
| Point.360 Provider/Integrated Media Management Services |
Crestmark Bank Lender |
1.0 | Revolver Repays previous revolving, term loan debt |
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| Bedford Materials Provider/Development |
Electrical Insulating Materials | Marquette Commercial Finance Lender |
1.0 | Revolver Supports growth |
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| Eagle Manufacturing Provider/Metal Stamping |
BrightWay Capital Lender |
1.0 | Revolver Supports orders from customer Electrolux |
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