Innovation Ventures, LLC
|Deal Type||Debt Capital Markets|
Incremental Revolving Credit Facility
|Client & Transactional Partners||Innovation Ventures, LLC||Our Role||
Joint Lead Arranger
On December 11, 2020, KeyBanc Capital Markets (“KBCM”) successfully closed a $100.0 million increase to the Revolver via the accordion (the “Incremental Facility”) for Innovation Ventures, LLC (“5-hour ENERGY” or the “Company”). The Incremental Facility increases the total Senior Secured Credit Facilities to $817.2 million, consisting of a $500.0 million Revolver and a $317.2 million Term Loan A. Proceeds from the Incremental Facility will be used to finance a distribution, pay fees and expenses and general corporate purposes. KBCM acted as Joint Lead Arranger, Joint Bookrunner, and Administrative Agent for the transaction. The Incremental Facility was successfully oversubscribed and represents KBCM’s fourth lead left transaction with 5-hour ENERGY since 2016.
Innovation Ventures, LLC founded in 2000 by Manoj Bhargava, is the leading producer of energy shots which the Company manufactures and markets under the brand name 5-hour ENERGY[reg]®. 5-hour ENERGY produces a liquid energy shot designed to provide a feeling of alertness for hours and is available in 1.93 ounce re-sealable bottles that require no refrigeration. The energy shot includes a blend of B-vitamins, amino acids, caffeine, and other nutrients, contains no sugar or herbal stimulants and has 4 calories.