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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
ACF Finco, Ares Provide $120MM Financing Agreement for Teligent
Thursday, December 13, 2018
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Lenders/Participants
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Ares Management, L.P. [Administrative Agent]
ACF Finco I LP [Administrative Agent]
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Structure
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Senior Secured Revolver; Second Lien Term Loan
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Amount
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$120.000
Million
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Borrower(s)
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Teligent, Inc.
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Description
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The Company entered into a definitive first lien revolving credit agreement with ACF Finco I LP, a limited partnership affiliated with Ares Management Corporation, as administrative agent, and the lenders party thereto and a definitive second lien credit agreement with Ares Capital Corporation, as administrative agent, and the lenders party thereto. The new senior-secured asset-based first lien revolving credit facility and second lien term loans (including delayed-draw term loans) are in the aggregate principal amounts of $25 million and up to $95 million, respectively. The $25 million first lien revolving credit facility will be used to redeem or repurchase in part the Company's 3.75% senior notes maturing in December 2019 and manage working capital needs. $80 million of the term loans will be used to redeem or repurchase in part the Company's 3.75% senior notes maturing in December 2019, to refinance a portion of the Company's existing $25 million term loan facility and to pay fees, costs and expenses in connection with the foregoing. $15 million of additional term loans will be available to the Company in 2019 subject to satisfaction of certain conditions to fund the installation of a high-speed filling line in the Company's recently expanded sterile injectable manufacturing site in Buena, NJ.
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Industry
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Pharmaceuticals
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| Related Tags |
Ares Management Corporation
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ABL Advisor
Deal Tables
2025
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