UBS To Launch Axia Acquisition Financing

UBS is expected to launch tomorrow syndication of a $175 million first-lien deal to back Aurora Capital Group's purchase of Axia and its operating subsidiaries including Ames Taping Tool Systems, TapeTech Tool Co. and Ames Taping Tools of Canada from Cortec Group.

  • 23 Nov 2005
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UBS is expected to launch tomorrow syndication of a $175 million first-lien deal to back Aurora Capital Group's purchase of Axia and its operating subsidiaries including Ames Taping Tool Systems, TapeTech Tool Co. and Ames Taping Tools of Canada from Cortec Group. The financing is broken into a five-year, $25 million revolver and a seven-year, $150 million term loan. Both tranches are being talked at LIBOR plus 2 3/4%. Aurora and Ames management will also be making an equity contribution to the deal.

Aurora signed a definitive agreement to acquire Axia Nov. 10. Through its subsidiaries, Axia designs, manufactures, markets and distributes automatic taping and finishing tools used by residential and commercial interior drywall contractors. Calls to Scott Schafler, Cortec's president, and Gerald Parsky, a partner at Aurora, were not returned.

  • 23 Nov 2005

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

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