Sample Transactions

NCSG
$15,000,000
Second Lien Secured Term Loan

NCSG

ICON partnered with an international top-tier bank agent to help complete a recapitalization of Northern Crane’s credit facilities.  The recapitalization consisted of a $115 million revolving credit facility from the bank syndicate coupled with an additional $15 million from ICON in the form of a second lien term loan.  The facilities are secured by a first and second lien, respectively, on all of the Company’s assets.  ICON’s creative loan structure was a key component in NCSG’s new capital structure, which in total combined to provide a $150 million credit facility to support ongoing working capital and growth needs.

 
EMS
$8,000,000
Senior Secured Term Loan

EMS

EMS was looking for a total recapitalization of its existing credit facilities.  As part of ICON’s strategy to propose a comprehensive solution to EMS, ICON’s capital markets group introduced a top-tier international bank to provide a $25 million revolving credit facility secured by a first lien on the Company’s Accounts Receivable and Inventory. Additionally,  ICON provided an $8 million senior term loan secured by all of the Company’s fixed assets, with reciprocating second lien positions.  Each of the loan facilities had compelling characteristics for EMS while  providing a single $33 million solution offering added elements that EMS was looking for.

 
AET
$170,000,000
Sale Leaseback

AET

Entering a sale-leaseback can do 3 things for a shipping company; a) monetize value in existing assets, b.) reduce debt, and c.) lower the average age of owned vessels in its fleet.  The facility that ICON provided did all three.  For $170,000,000, ICON purchased 2 Aframax tankers and 2 Very Large Crude Carriers from AET, while simultaneously leasing those vessels back to AET subject to long term charters for each vessel.  As part of the purchase price, ICON secured a total of $150,000,000 in senior financing from an international shipping bank and a private equity firm.