This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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 $590 Million In Commitments During The Second 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 three financing commitments totaling $590 million, including refinancing transactions, during the second quarter of 2012. Since January 1, 2010, the SSLP has committed approximately $7.3 billion to middle-market borrowers.

“The transaction activity during the second quarter illustrates the importance of closing certainty and financing flexibility which SSLP provides to private equity sponsors,” said Michael Arougheti, President of Ares Capital.

Stuart Aronson, president and CEO of GE Capital’s Sponsor Finance business said, “Helping build and strengthen the middle market is central to our business. The SSLP provides a flexible and reliable capital solution to middle-market companies through all market conditions, and we look forward to working with these companies as they continue to grow their businesses.”

Below is a brief description of three recent transactions.

Augusta Sportswear Holdings, Inc. / Kelso & Company

GE Capital Markets and Ares Capital served as joint lead arrangers and joint bookrunners in a $367 million senior secured term loan, of which $300 million was provided by the SSLP and $67 million was directly provided by Ares Capital, to support the acquisition of Augusta Sportswear Holdings, Inc. by Kelso & Company. Augusta is a leading producer and distributor of team uniforms, athletic apparel, outerwear, and school-inspired products to team uniform suppliers and custom decorators.

SVP Worldwide / Kohlberg & Company

GE Capital Markets and Ares Capital served as joint lead arrangers and joint bookrunners in a $200 million senior secured term loan provided by the SSLP to support the refinancing of SVP Worldwide by Kohlberg & Company. SVP is the world’s leading consumer sewing machine company.

Cambridge International, Inc. / Industrial Growth Partners

GE Capital Markets and Ares Capital served as joint lead arrangers and joint bookrunners in a senior secured term loan provided by SSLP to support the acquisition of Cambridge International, Inc. by Industrial Growth Partners. Cambridge International, Inc. is a pioneer and the world’s leading provider of mission-critical, consumable, custom-built and highly engineered woven metal products used for process conveying as well as architectural and environmental applications.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

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