Industry Deals

Secured Lender, The, Mar/Apr 2006

Monroe Capital funded a $10 million junior secured credit facility for S.R. Bray Corporation d/b/a Power Plus. Monroe Capital's term loan, in conjunction with a $25 million senior credit facility from PNC Bank, was used to repurchase preferred stock in the company held by a shareholder, refinance existing debt and provide ongoing working capital. Monroe has also funded a $12.5 million junior secured term loan to Black Warrior Wireline Corp. The loan, in conjunction with a $50 million senior credit facility from GE Capital, was used to assist Black Warrior Wireline Corp. to refinance its existing debt and to consummate a strategic acquisition.

Murphy & Associates Capital, LLC assisted Goldline International, Inc. in completing a management buyout/recapitalization and served as served as exclusive financial advisor. Goldline, a leading provider of rare and collectible coins and precious metals products with revenues exceeding $100 million, raised $44 million to complete a recapitalization resulting in Goldline's management acquiring a significant portion of the company's equity.

National City Bank, as agent, and Branch Banking and Trust Company provided a $35 million credit facility to ePlus.

National City Business Credit signed a commitment letter to provide $13.5 million with Blonder Tongue Laboratories to refinance its existing debt with Commerce Bank.

NewStar Financial provided $5 million in asset-backed financing to Strong CapitalFunding-2005 L.P.; acted as a joint leader in providing $68 million in senior financing to support the acquisition of Receivable Management Services by Citigroup Venture Capital International; provided $10 million in recapitalization funding for Paradigm Group with Merrill Lynch Capital serving as lead arranger for the transaction and provided $40 million in financing to support the acquisition of eight radio stations by Wilks Broadcast Group, a portfolio company of The Wicks Group of New York.

NGP CapitalResources Company closed a $50 million senior secured credit facility with Chroma Exploration & Production.

Oxford Finance Corporation provided a $2.5 million in long-term secured debt financing to SemBioSysGenetics.

PNC Bank led a group in a $75 million revolving credit facility for Broadwing Communications. The facility was co-arranged by Jefferies Babson Finance. PNC Bank and Gladstone Capital provided an $18.5 million in debt and equity financing to Visual Edge.

PNC Business Credit provided a $15 million senior secured credit facility for American Shipping Company, Inc. and its subsidiary group of logistics-related companies known as The American Companies.

Presidential Financial Corp: Science Dynamics Corp., Pennsauken, PA, a provider of advanced technological solutions, has signed an agreement with Presidential for a $1 million line of credit, backed by 85 percent of eligible billed receivables. Presidential acquired San Antonio, TX-based Alamo Capital Corporation, a provider of healthcare financing solutions. Both financial institutions are privately held and the terms of this acquisition were not disclosed.