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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Wells Fargo Agents $315MM in Facilities to Medpace IntermediateCo
Tuesday, December 13, 2016
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Lenders/Participants
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Wells Fargo Bank [Administrative Agent]
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Structure
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$150MM Senior Revolver; $165MM Senior Term Loan
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Amount
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$315.000
Million
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Borrower(s)
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Medpace IntermediateCo, Inc.
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Description
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A senior secured term loan facility of $165.0 million (the “Senior Secured Term Loan Facility”) and a senior secured revolving credit facility of $150.0 million (the “Senior Secured Revolving Credit Facility” and together with the Senior Secured Term Loan Facility, the “Senior Secured Credit Facilities”). Proceeds from the Senior Secured Term Loan Facility were used to repay and extinguish the Borrower’s obligations under its existing senior secured credit facilities as well as pay any fees, costs and expenses related thereto. As of December 8, 2016, there was $165.0 million outstanding under the Borrower’s existing senior secured term loan facility and no borrowings (other than letters of credit) outstanding under the Borrower’s existing senior secured revolving credit facility. In connection with entering into the Senior Secured Credit Facilities, the Company expects to record a loss on extinguishment of long-term debt of approximately $10 million to $11 million during the fourth quarter of 2016. The Senior Secured Term Loan Facility matures on the fifth anniversary of the closing date and will amortize in quarterly installments in aggregate annual amounts equal to (i) 7.5% of the original principal amount of the Senior Secured Term Loan Facility during 2017 (the first full calendar year after the closing date), (ii) 10.0% of the original principal amount of the Senior Secured Term Loan Facility during the second year after the closing date, (iii) 10.0% of the original principal amount of the Senior Secured Term Loan Facility during the third year after the closing date, (iv) 12.5% of the original principal amount of the Senior Secured Term Loan Facility during the fourth year after the closing date and (v)15.0 % of the original principal amount of the Senior Secured Term Loan Facility during the fifth year after the closing date. The first amortization payment is due at the end of the first full fiscal quarter after the closing date and the last amortization payment together with the remaining balance of the original principal amount of the Senior Secured Term Loan Facility outstanding at maturity will be paid in a final balloon payment. The Senior Secured Revolving Credit Facility terminates on the fifth anniversary of the closing date and loans thereunder may be borrowed, repaid, and re-borrowed up to such date.
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Industry
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Medical
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| Related Tags |
Wells Fargo Bank
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ABL Advisor
Deal Tables
2025
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