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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
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.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV