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Senior Secured Loan Program wraps $1.2 billion in loans in 2Q14
By Sara Rosenberg
New York, Aug. 6 – The Senior Secured Loan Program, jointly managed by an affiliate of Ares Capital Corp. and an affiliate of GE Capital, revealed in a news release that during the second quarter it closed nine financing transactions totaling $1.2 billion.
One of those transactions was a $153 million senior secured term loan that was used to support the acquisition of Athletico Physical Therapy, a Chicago-based, clinician-owned physical therapy business, by Harvest Partners.
GE Capital Markets and Ares Capital served as joint lead arrangers and joint bookrunners on the deal.
Another one was a senior secured term loan and two senior secured delayed-draw term loans led by GE Capital and Ares to refinance Connoisseur Media LLC’s current capital structure and fund its current and future radio station acquisition strategy.
Connoisseur, a Westport, Conn.-based owner and operator of radio stations, also got a senior secured revolving credit facility led by GE Capital.
A third one announced was a senior secured term loan for Implus Corp. to fund a recapitalization. GE Capital and Ares were the joint lead arrangers and joint bookrunners on the loan for the manufacturer of footwear and recreational accessories.
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