Marco Financial provided an international trade finance facility totaling $9 million to Spectralink Corporation, a Boulder, CO-based portfolio company of Sun Capital Partners and provider of on-site enterprise mobile communication solutions.
Coveris Holdings, a portfolio company of funds advised by Sun Capital Partners, amended its term loan facilities. Goldman Sachs, Credit Suisse and J.P. Morgan are joint lead arrangers for the proposed amendments.
The M&A Advisor announced the winners of the 5th Annual International M&A Awards for Leadership, Firm of The Year, Legal Advisor of The Year and Dealmaker of The Year.
Regardless of the ultimate form of the transaction, recent history has shown that second lien debt has increasingly become a popular means of currency to take control of underperforming and overleveraged companies. These types of transactions will continue to become more prevalent as more participants enter this arena through the continuous raising of distressed fund capital. In addition, the success that some funds have had using these tactics will lead to their increased use in other distressed situations.