Freescale Says New Secured Term Loan Set to Close
Freescale Semiconductor said that it has been advised by the lead arranger that they have received sufficient orders to allocate and close a proposed new $2.741 billion term loan facility.
Freescale Semiconductor said that it has been advised by the lead arranger that they have received sufficient orders to allocate and close a proposed new $2.741 billion term loan facility.
High Liner Foods closed amendments to its senior secured term loan B and asset-based revolving loan facility. RBC Capital Markets acted as lead arranger and bookrunner for the debt amendments.
The London Manhattan Company sourced a new $22 million facility to refinance a specialty logistics and warehousing company. The company recently made several acquisitions and wished to consolidate the debt associated with those transactions.
VWR Funding intends to commence an offering of $200 million of senior secured term loans. VWR said Citigroup Global Markets will act as sole lead arranger and bookrunner for the proposed transaction.
Revel AC completed the amendment to its existing revolving credit facility with JP Morgan Chase as administrative agent. The amendment added a new $125 million term loan and an increase of $25 million in the existing revolving commitments.
From the “plain vanilla” days of the 1990s, through the “Dot.bomb” era in late 2000, to today’s post-crash period, Bank of America analysts highlight ABL trends over the years and show how companies can utilize the knowledge gained from this sector’s history. The latest evolution is underway: How can it benefit your company?
Hugh Larratt-Smith wonders: How did pricing get back to pre-crisis bubble levels so quickly? In the following article, he draws a parallel between the maneuverings of financier Jay Gould during the gilded age of U.S. industry and commerce and the realities of today’s lending environment.
While traditional financing options are well suited to most companies, they don’t fit the needs of every business. As a result, lenders are increasingly providing financial products that offer new levels of flexibility. This rising tide of creative financing vehicles is giving companies more options. The advantage to businesses is clear: They can enhance their working and growth capital to fuel business plans and help maintain a competitive edge. Enter the hybrid loan.
When it comes to capital markets issuance, ABF Journal turned to Wells Fargo Capital Finance’s Dorothy M. Killeen to explain where asset-based loans fit in the grand scheme of things. In the following Q&A, Killeen explains the differentiating characteristics of various ABL combinations.