This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Senior Secured Loan Program Closes $751 Million In Commitments During The First Quarter Of 2012

Stocks in this article: ARCC

The Senior Secured Loan Program (SSLP), jointly managed by an affiliate of Ares Capital Corporation and an affiliate of GE Capital, announced today that it closed seven financing commitments totaling $751 million, including refinancing transactions, during the first quarter of 2012. Since January 1, 2010, the SSLP has committed approximately $6.7 billion to middle market borrowers.

“The SSLP continues to be an attractive option for private equity sponsors seeking larger and more flexible capital solutions without the need for a broad syndication,” said Michael Arougheti, President of Ares Capital.

“In the first quarter of 2012 the SSLP provided seven middle market companies with efficient and timely financial capital to help them grow their businesses,” said Stuart Aronson, President and CEO of GE Capital’s Sponsor Finance business. “The middle market’s growth and stability are fundamental to the U.S. economy and we look forward to continuing to serve these companies through the SSLP.”

Below is a brief description of three recent transactions.

Nivel Parts & Manufacturing Company, LLC / Kelso & Company

GE Capital Markets and Ares Capital served as joint lead arrangers and joint bookrunners in a $150 million senior secured credit facility provided by the SSLP to support the acquisition of Nivel Parts & Manufacturing Company, LLC by Kelso & Company. Nivel is a leading provider of golf car aftermarket parts and accessories. In addition, GE Capital, through its GE Antares Capital subsidiary, provided a $20 million senior secured revolving credit facility in support of the transaction.

Pregis Corporation / AEA Investors LP

GE Capital Markets and Ares Capital served as joint lead arrangers and joint bookrunners in a $142.5 million senior secured term loan led by the SSLP to support the refinancing of Pregis Corporation by AEA Investors LP. Pregis Corporation is a leading international manufacturer, marketer and supplier of protective packaging solutions. In addition, GE Capital, through its GE Antares Capital subsidiary, provided a $35 million senior secured revolving credit facility in support of the transaction.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,614.81 +215.14 1.31%
S&P 500 1,941.28 +37.27 1.96%
NASDAQ 4,419.4780 +103.4040 2.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs