L Catterton entered into a definitive agreement to acquire a controlling interest in West Marine, an omnichannel platform in the marine aftermarket, from Monomoy Capital Partners. Barclays Bank, Golub Capital and Nomura provided committed debt financing to support the transaction.
Deutsche Bank, Landesbank Hessen-Thüringen (Helaba) and Norddeutsche Landesbank (NORD/LB), along with existing lenders, expanded 8minute Solar Energy’s $225 million revolving credit facility to $350 million.
BJ’s Wholesale club amended its first lien term loan agreement with Nomura Corporate Funding as administrative agent and its ABL agreement with Wells Fargo as administrative agent
Ortho-Clinical Diagnostic refinanced its credit agreement. The amended agreement consists of a $2.325 billion term B loan and a $350 revolving credit facility.
Reuters reported that Barclays, Nomura and UBS led the leveraged loan financing to support Bain Capital and Cinven’s buyout of German drug maker Stada.
Reuters reported Air Medical Group, a KKR portfolio company, will borrow $2.2 billion to support its acquisition of American Medical Response. Morgan Stanley, Goldman Sachs, Jefferies, BofA Merrill Lynch, Credit Suisse, Citi and Numura are leading the bank group.
Reuters reported that regulatory scrutiny hasn’t slowed banks and alternative lenders from underwriting highly leveraged U.S. loans, with one third of buyout loans in Q1/17 having leverage of more than 7.0 times.
Clearlake Capital will acquire LANDESK from Thoma Bravo. Fully committed financing for the transaction was provided by Morgan Stanley Senior Funding, Barclays, Jefferies, Golub Capital, Macquarie and Nomura.
Platform Specialty Products completed the repricing, extension and amendment of existing term loans under its credit agreement. Barclays, Credit Suisse, Citibank and Nomura acted as joint lead arrangers.
Reuters reported that Ortho-Clinical Diagnostics, a unit of Johnson & Johnson, will launch a $2.525 billion senior secured credit facility to finance its acquisition by Carylyle Group.