Through its global direct lending platform, Ares Management is serving as the lead arranger for a £1.875 billion ($2.34 billion) financing commitment to The Ardonagh Group, an independent insurance broker.
Centric Brands entered into a restructuring support agreement, led by certain funds managed by Blackstone, Ares Management, and HPS Investment Partners, to recapitalize the company and provide $435 million in debtor-in-possession financing.
Emerge Energy entered into a senior secured asset-based revolving credit and security agreement of up to $100 million with HPS Investment Partners as administrative agent and collateral agent.
TiVo entered into a new $715 million five-year term loan credit agreement with HPS Investment Partners as administrative and collateral agent, plus a $60 million revolving loan credit agreement with Morgan Stanley Senior Funding and Wells Fargo Bank.
Capital One served as administrative agent and joint lead arranger on a senior secured unitranche facility to support Excellere Partners’ recapitalization in partnership with the founder and management of SePRO. The facility was provided in part by Capital One’s ULTra unitranche loan program.
Capital One served as administrative agent on a $375 million senior secured unitranche facility for AccentCare, a portfolio company of Oak Hill Capital Partners. The facility consists of a $250 million term loan, a $50 million delayed draw term loan and a $75 million revolving line of credit.
Capital One’s unitranche loan program, ULTra, closed more than $1 billion in commitments to borrowers in the healthcare industry in 2017.
J.G. Wentworth successfully completed its reorganization in coordination with its lenders. The company emerged from Chapter 11 with a new revolving credit facility of $70 million supplied by HPS Investment Partners and the elimination of $440.5 million of outstanding debt.
21st Century Oncology emerged from Chapter 11 with new owners, including funds and accounts managed by Beach Point Capital Management, Governors Lane, J.P. Morgan Investment Management, Oaktree Capital Management, Roystone Capital and HPS Investment Partners.
J.G. Wentworth reached an agreement with its lenders, led by Jefferies, to support its prepackaged restructuring plan. HPS Investment Partners provided a $65 million revolver to cover the company’s restructuring expenses.