Debt Capital Markets

On August 22, 2023, KeyBanc Capital Markets (KBCM) successfully closed the syndication of $130 million Senior Secured Credit Facilities for Michael Baker International, LLC ("Michael Baker" or the "Company"), a portfolio company of DC Capital Partners (DC Capital). The facilities are comprised of a $20 million Incremental ABL Revolving Credit Facility and a $110 million Incremental First Lien Term Loan.

KBCM served as Joint Lead Arranger and Joint Bookrunner on the transaction. Proceeds were utilized to finance the acquisition of Tidal Basin, LLC (Tidal Basin), fund working capital, and to pay transaction-related fees and expenses.

Headquartered in Pittsburgh, PA, Michael Baker is a leading provider of engineering and consulting services and has been solving some of the world’s most complex infrastructure challenges for 80+ years with a legacy of expertise, experience, innovation and integrity. The Company’s services include design, planning, architectural, environmental, and program management. Michael Baker’s clients include U.S. federal, state, and municipal governments, as well as large corporations.

Tidal Basin is a leading emergency and disaster management consulting firm providing comprehensive solutions to public and private sector clients to prepare for, respond to, recover from, and mitigate threats from natural or human-made disasters.

Founded in 2007, DC Capital Partners is a middle-market private equity firm with offices located in Alexandria, VA and West Palm, FL. DC Capital makes control equity investments in middle-market companies that provide differentiated and innovative services and solutions in the government and engineering markets.

On August 22, 2023, KeyBanc Capital Markets (KBCM) successfully closed the syndication of $130 million Senior Secured Credit Facilities for Michael Baker International, LLC ("Michael Baker" or the "Company"), a portfolio company of DC Capital Partners (DC Capital). The facilities are comprised of a $20 million Incremental ABL Revolving Credit Facility and a $110 million Incremental First Lien Term Loan.

KBCM served as Joint Lead Arranger and Joint Bookrunner on the transaction. Proceeds were utilized to finance the acquisition of Tidal Basin, LLC (Tidal Basin), fund working capital, and to pay transaction-related fees and expenses.

Headquartered in Pittsburgh, PA, Michael Baker is a leading provider of engineering and consulting services and has been solving some of the world’s most complex infrastructure challenges for 80+ years with a legacy of expertise, experience, innovation and integrity. The Company’s services include design, planning, architectural, environmental, and program management. Michael Baker’s clients include U.S. federal, state, and municipal governments, as well as large corporations.

Tidal Basin is a leading emergency and disaster management consulting firm providing comprehensive solutions to public and private sector clients to prepare for, respond to, recover from, and mitigate threats from natural or human-made disasters.

Founded in 2007, DC Capital Partners is a middle-market private equity firm with offices located in Alexandria, VA and West Palm, FL. DC Capital makes control equity investments in middle-market companies that provide differentiated and innovative services and solutions in the government and engineering markets.

On July 11, 2023, the Housing Authority of the City and County of Denver, Colorado (DHA or the Authority) closed its Series 2023A and B Multifamily Housing Revenue Bonds, issued to finance its Flo Senior Apartments project. DHA issued taxable and tax-exempt bonds under a single integrated debt financing product, backed by its general revenues, in the capital markets for its 212-unit apartment building for seniors and non-elderly disabled residents. KeyBanc Capital Markets served as Sole Manager on the transaction.

DHA is a quasi-municipal corporation with a portfolio of over 13,000 units and housing choice vouchers, providing affordable housing to more than 27,000 very low, low, and middle-income individuals. DHA's mission is to serve the residents of Denver by developing, owning, and operating safe, decent, and affordable housing in a manner that promotes thriving communities. DHA has been creating vibrant communities and sustainable neighborhoods since 1938.

The Denver Housing Authority remarked on the transaction, noting ‘Key did an excellent job in underwriting and marketing the Multifamily Housing Revenue Bonds for the Housing Authority's Flo project which generated over $7 million in economic benefit to the project over a private placement financing option.’ To learn more, visit the DHA website at denverhousing.org.

In June 2023, KeyBanc Capital Markets (KBCM) successfully closed on $5 billion of Senior Notes for CVS Health Corporation. KBCM served as Co-Manager on the transaction.

On May 15, 2023, KeyBanc Capital Markets served as Co-Manager on a $300 million Senior Notes offering for National Fuel Gas Company. Proceeds will be used for general corporate purposes.

On May 1, 2023, KeyBanc Capital Markets served as Joint Lead Arranger and Joint Bookrunner on a $1.5 billion Senior Secured Revolving Credit Facility for Gulfport Energy Corporation. Proceeds will be used for general corporate purposes.

On April 28, 2023, KeyBanc Capital Markets (KBCM) successfully closed the syndication of an undisclosed amount of Senior Secured Credit Facilities (Credit Facilities), consisting of an Incremental Revolving Credit Facility, a Non-fungible Incremental Term Loan, and a Delayed Draw Term Loan for ImageFirst Healthcare Laundry Specialists, LLC (ImageFirst or the Company), a portfolio company of Calera Capital (Calera). Proceeds from the Credit Facilities will be used to partially refinance the Company’s existing indebtedness, finance two add-on acquisitions under LOI, and add cash to the balance sheet. KBCM served as Joint Lead Arranger and Joint Bookrunner on the transaction.

ImageFirst is a leading provider of outsourced laundry and textile rental services with a focus on outpatient and specialty healthcare in the U.S., with 54 locations across 26 states serving over 10,000 customers. The Company typically services its customers on a weekly basis, providing a mission critical offering as customers typically cannot generate revenue without clean linens and other laundry products.

Founded in 1991, Calera Capital is a private equity-investment firm based in San Francisco, California, and Boston, Massachusetts, that has invested over $4 billion of equity into leading middle market companies. Calera invests in market leading businesses with strong fundamentals and where there are opportunities to build value through the implementation of operating and strategic business initiatives. Calera has significant experience and a successful track record of investment in commercial services, healthcare services, and other businesses with similar attributes to ImageFirst.

On April 27, 2023, KeyBanc Capital Markets served as Administrative Agent, Coordinating Lead Arranger, and Sole Bookrunner on a $1.5 billion Senior Secured Revolving Credit Facility for Diversified Energy Company PLC. Proceeds will be used for general corporate purposes.

On April 26, 2023, Private Export Funding Corporation (PEFCO or the Company) issued $300 million of Senior Secured Notes due 2027 (the Notes) at a spread of +43 bps for a coupon of 3.900%. The Notes drew significant interest from a wide investor base with a couple of strong anchor orders, garnering a total orderbook of approximately $1.0 billion, good for a 3.5x oversubscription. The Company plans to use the net proceeds from the offering to fund outstanding loan commitments. KeyBanc Capital Markets acted as Active Joint Bookrunner on the transaction.

PEFCO is principally engaged in making U.S. Dollar loans to foreign importers to finance purchases of U.S. goods and services. The Company was established by a group of U.S. financial institutions with the support of the U.S. Treasury, the Federal Reserve and the Export Import Bank of the United States (Ex-Im Bank) to assist in the financing of U.S. exports through the mobilization of private capital as a supplement to the financing already available through Ex-Im Bank.

On April 26, 2023, KeyBanc Capital Markets served as Joint Lead Arranger and Joint Bookrunner on a $1.25 billion Senior Secured Revolving Credit Facility for California Resources Corporation. Proceeds will be used for general corporate purposes.

On April 24, 2023, KeyBanc Capital Markets served as Joint Lead Arranger on a $1.5 billion Senior Secured Revolving Credit Facility for SEP Permian LLC (Spur). Spur is a portfolio company of KKR and EMG. Proceeds will be used for general corporate purposes.

On April 24, 2023, KeyBanc Capital Markets (KBCM) successfully closed on a $27.5 million Senior Secured Revolving Credit Facility (the Revolver) and $250 million of Senior Secured Notes (the Notes) for Conuma Resources Limited (Conuma or the Company). Proceeds from the transaction will be used to refinance existing indebtedness, support ongoing working capital needs, and fund capital expenditures. KBCM acted as Left Lead Arranger, Sole Bookrunner, Sole Syndication Agent, and Administrative Agent on the Revolver, and Joint Bookrunner on the Notes.

Conuma is a North American producer and exporter of premium steel making coal from the Peace River Coalfield in British Columbia, Canada. Since the Company was founded in late 2016 and restarted mining operations at three surface mines, Conuma has rapidly expanded its production of premium mid-vol hard coking coal and ultra low-vol PCI. The Company’s mines are strategically located near key rail and port infrastructure, offering a significant competitive advantage throughout the Seaborne market when compared to other producers in Western Canada and the remainder of North America.