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 five financing commitments totaling $625 million, including two refinancing transactions of existing portfolio companies, during the third quarter of 2012. Since January 1, 2010, the SSLP has committed approximately $7.9 billion to middle-market borrowers. Below is a brief description of two of these recent SSLP transactions. Selig Sealing Products, Inc. / Behrman Capital GE Capital Markets and Ares Capital served as joint lead arrangers and joint bookrunners in a $180 million senior secured term loan provided by SSLP to support the refinancing of Selig Sealing Products, Inc., a portfolio company of Behrman Capital. Selig is the leading global manufacturer of container sealing products engineered to maintain freshness, protect against leakage and provide tamper evidence for rigid containers. Drayer Physical Therapy Institute LLC / GS Capital Partners GE Capital Markets and Ares Capital served as joint lead arrangers and joint bookrunners in a $125 million senior secured term loan provided by SSLP to support the acquisition of Drayer Physical Therapy Institute LLC by GS Capital Partners, a private equity fund managed by Goldman Sachs. GE Capital Markets and Ares Capital also structured a $15 million delayed draw term loan provided by the SSLP in support of the transaction. Drayer Physical Therapy Institute is a leading owner and operator of outpatient physical therapy clinics in the United States. About Senior Secured Loan Program The Senior Secured Loan Program was formed in December 2007 to invest in the senior secured debt of middle-market companies. Its members are comprised of Ares Capital Corporation and GE Global Sponsor Finance LLC. The program is co-managed by GE Commercial Finance Investment Advisory Services LLC and Ares Capital Management LLC and transactions require approval by the individuals appointed by the members of the SSLP. The SSLP has $7.7 billion of available capital and can hold up to $300 million in a single transaction for borrowers across a wide range of industry sectors. The SSLP benefits borrowers by virtue of greater speed, simplicity and certainty, with proven partners. The total aggregate principal amount of loans outstanding issued by the SSLP was $5.9 billion as of September 30, 2012.
About Ares Capital CorporationAres Capital is a leading specialty finance company that provides one-stop financing solutions to U.S. middle-market companies and private equity sponsors. The Company originates and invests in senior secured loans, mezzanine debt and, to a lesser extent, equity investments through its national direct origination platform. Ares Capital’s investment objective is to generate both current income and capital appreciation through debt and equity investments primarily in private companies. Ares Capital has elected to be regulated as a business development company, and is externally managed by a wholly owned subsidiary of Ares Management LLC. Ares Management is a global alternative asset manager and a SEC-registered investment adviser with approximately $56 billion of committed capital under management as of September 30, 2012. For more information, visit www.arescapitalcorp.com. About GE Capital GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. For more information, visit ge.com About GE Antares Capital GE Antares Capital is a unit of GE Capital, Sponsor Finance. With offices in Atlanta, Chicago, Los Angeles, New York and San Francisco, GE Antares is a leading lender to middle market private equity sponsors. GE Capital Markets has ranked #1 in the U.S. Sponsored Middle Market Bookrunner League Tables for three of the past four years. For more information, visit www.geantares.com. About Selig Sealing Products, Inc. Selig Sealing Products, Inc. is the largest manufacturer of tamper-evident cap/closure lining material in the world. Selig’s mission is to provide customers with extremely high levels of responsiveness and flexibility in serving and determining their packaging needs. Selig’s strength and experience as a global leader of sealing solutions dates back to 1889 with the establishment of Hermetic Cap & Glass Company and the first known in-house liner manufacturing facility. With the acquisition of the Unipac Corporation, under one name, Selig brings the customers the core benefits, knowledge and rich history of the legends in global sealing solutions: Capseals, Insulec, Unipac, 3M, Sonoco, Malborough and Selig. Featuring reliable, innovative, quality products that cover a broad range of applications such as: food, pharmaceutical, agricultural, chemical, beverage and cosmetics, Selig’s comprehensive range of both one-piece (UniGard™ and FoilSeal™), and two piece structures (Safe-Guard™ and FoilSeal™) give them the ability to meet the most demanding worldwide applications with one of their 600 customized aluminum foil/heat-seal combinations. In addition, their innovative products, such as Lift’n’Peel™, Top Tab™, AromaSeal™ and AromaPeel™ offer a ‘built in easy opening feature’ that provides greater convenience to the consumer while providing differentiation to the brand owners. For more information, visit www.seligsealing.com. About Behrman Capital Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leverage buildups and recapitalizations of established growth businesses. The company’s investments are primarily focused in five industries: health care, specialty manufacturing, business to business outsourcing, defense and information technology. The firm has raised five funds with a combined capital base in excess of $3.0 billion. For more information, visit www.behrmancap.com. About Drayer Physical Therapy Institute LLC Drayer Physical Therapy Institute is a leading outpatient physical rehabilitation company, incorporated in 2002. With the opening of its first clinic in Bel Air, Maryland, the company now owns/manages over 90 outpatient physical therapy centers in the Northeast, Mid-Atlantic, Southeast, and Northwest areas of the United States. For more information, visit www.drayerpt.com.