JP Morgan Chase Bank acted as sole lead arranger and bookrunner on a $75 million incremental term loan B facility for GreenSky, a financial technology company. GreenSky will use the proceeds for general corporate purposes and to enhance its overall liquidity position.

The incremental term loan, priced at LIBOR plus 450 basis points, with a 1% LIBOR floor, will have the same security, maturity, principal amortization, prepayment and covenant terms as the existing term loan under GreenSky’s term loan B credit facility. The term loan B credit facility matures on March 29, 2025.

“Despite dislocation in the credit markets as a result of the COVID-19 pandemic’s unpredictable near and longer-term impact upon the U.S. economy, I am very pleased that GreenSky has closed on this incremental syndicated debt placement in such efficient fashion, with institutional holders of the company’s existing Term Loan B debt subscribing for the vast majority of this incremental tranche,” David Zalik, GreenSky chairman and CEO of GreenSky, said.