Reichhold replaced its North American revolver with a new $70 million delayed-draw term facility provided by funds managed by Oaktree Capital Management. Bank of America will continue as agent for the lenders.
Furniture Brands filed Chapter 11 and announced it entered into an asset purchase agreement with Oaktree Capital, which will provide $140 million of DIP financing. A GE Capital led lender group is owed $91 million under a prepetition ABL revolver.
Harvest Partners completed the acquisition of the AxelaCare from Excellere Partners. Senior debt was arranged by GE Capital, Ares Capital and BMO Capital Markets. Oaktree Capital Management and Northwestern Mutual Capital provided mezzanine debt financing.