Industry Deals

Secured Lender, The, Jan/Feb 2006

Alamo Capital provided a $500,000 line of credit to Omni Medical Holdings based on its medical receivables.

American Capital Strategies invested $45 million in the recapitalization of TechBooks, an electronic content outsourcing firm. Bank of America is providing a revolving credit facility.

Antares Capital Strategies invested $ 117 million in the senior and junior subordinated debt of Bushnell Performance Optics and provided a $35 million revolving credit facility in support of Caxtonlseman Capital's purchase of Manchester Technologies and its wholly-owned subsidiary Electrograph Systems.

Bane of America securities provided a $300 million senior secured credit facility to Cannery Casino Resorts.

Bank of America, acting as administrative agent, provided a $450 million revolving credit facility to CarMax. Bane of America securities acted as the lead arranger for the new facility. BofA and BNP Paribas arranged a $2 billion term loan for Valero Energy while JPMorgan Chase and Royal Bank of Canada arranged a $2.5 billion line of credit for the deal. BofA and Merrill Lynch led the $1 billion refinancing of Flowserve's high yield notes, Term A and Term C loans and consolidation of its revolving credit and backup liquidity facilities. BofA led a banking syndicated in providing a five-year, $50 million revolving credit facility to Gaec Computer; a $25 million revolving loan facility with SL Industries; arranged and syndicated a $200 million, five-year revolving credit facility with Technitrol.

Bank of America Business Capital provided a CAN$65 million senior secured credit facility to A.P. Plasman Corporation, a designer and manufacturer of automotive exterior trim products. Consisting of a revolver and term loan, the asset-based credit facility was used to refinance existing debt and provide for working capital and capital expenditure needs. Bank of America is also providing treasury management products and services. Bank of America Business Capital provided a $250 million revolving credit facility to Icon Health & Fitness, Inc.. Bane of America securities syndicated the credit facility. Bank of America is also providing letters of credit as well as treasury management products and services. In addition, a $40 million second lien term loan was provided by Back Bay Capital, an affiliate of Bank of America. BofA Business Credit provided an $80 million senior secured facility to Entec Polymers.

BMO Nesbitt Burns led a syndicate of banks in $80 million in long-term financing for Marsulex. The company also arranged a $20 million revolving credit facility.

BNP Paribas has closed the syndication of the $550 million financing for Petrohawk Energy.

Boston Financial & Equity Corporation closed a $500,000 factoring agreement with a company in Chicago. The company provides both logistics and supply chain management to Fortune 100 companies.

Bridge Bank provided a $6 million asset-based credit facility for Tripath Technology.

Bridge Opportunity Finance completed a $6.2 million revolver and $3 million term loan under an existing acquisition line to Mercer Staffing, Inc. The funding was used to acquire Quantum Resources, Inc., a staffing company with nine branches in the Southeast United States and Michigan.

Business Alliance Capital provided the following deals: a $3 million accounts receivable and inventory credit facility to Smith Engines; closed a $2 million accounts receivable and inventory facility and a $750,000 term loan to a meat products company located in Greensboro, NC; extended a $2 million accounts receivable and inventory credit facility to a seafood distributor located in Little Compton, RI; provided a $2.25 million accounts receivable and inventory credit facility and a $270,000 equipment term loan to a manufacturer of plastic drinking cups located in Dayton, NJ (Business Alliance paid out a bank that was unable to provide on-going financing); assisted the turnaround of a distributor of valves and accessories located in Winter Park, FL with a $600,000 accounts receivable and inventory credit facility; replaced a bank and provided $1.5 million in accounts receivable financing to a specialty trucking company located in Long Beach, CA and closed a $750,000 accounts receivable facility in conjunction with a local economic development loan to a food distributor located in Boston, MA.

Buxbaum Group: The recent $45.9 million sale of Rampage, a manufacturer and distributor of junior apparel, is the culmination of a two-year -long overhaul of the company by Buxbaum Group. Buxbaum identified Rampage's key problem as an inability to deliver goods on time and manage its inventory and simplified the acquisition process, contracting with overseas suppliers to deliver finished goods on time and according to specs.

Cambridge Realty Capital Companies provided a $4.9 million FHA-insured HUD loan to refinance the 112-bed Woodside Extended Care skilled nursing home facility in Chicago Heights, IL and facilitated a $ 10.5 million conventional loan to refinance Ingleside Care Center, a 118-bed psychiatric hospital in Rosemead, CA.