Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 7/01/20 through 9/30/20.

DATE BORROWER/INDUSTRY LENDER/ROLE AMOUNT STRUCTURE/NOTES
2020/07/01 Cardtronics
Finance
JPMorgan Chase
Admin agent
500 Term Loan
To repay outstanding borrowings under revolving credit facility, retire outstanding convertible notes due December 2020 and for working capital and general corporate purposes
2020/07/01 Home Trust Company
Mortgage Lending
BMO, Royal Bank of Canada
Lenders
500 Committed standby secured funding facility
2020/07/01 Neenah
Paper Products
J.P. Morgan, BMO, Goldman Sachs
Lead arrangers
200 Term Loan
2020/07/01 Horizon North Logistics
Support Services
Scotiabank
Lender
175 Increase to facility of $25MM
2020/07/02 WillScot
Mobile Storage
Bank of America
Admin agent
2400 Revolver
To support merger with Mobile Mini
2020/07/02 Scott’s Liquid Gold
Personal Care
UMB
Lender
10 $7MM Line of Credit/$3MM Term Loan
In conjunction with acquisition of Biz and Dryel
2020/07/07 ProSight
Insurance
SunTrust, Citizens, Regions, KeyBank
Lead arrangers
65 Revolver
2020/07/08 KBR
Energy
Bank of America
Admin agent
1000 Converted $500MM PLOC capacity to Revolver
2020/07/08 Pear Therapeutics
Digital Medicine
Perceptive Advisors
Lender
50
For working capital, repayment of existing debt, general corporate purposes
2020/07/08 Verano Holdings
Cannabis
Green Ivy Capital
Lender
30
To support working capital, organic growth, acquisitions.
2020/07/08 Hunt & Sons
Petroleum Products
White Oak Commercial Finance
Lender
75 Upsize of $6MM
To support regional acquisitions
2020/07/09 Medalist Partners
Investment Management
Breakout Capital
Lender
20 $10MM extension to current Term Loan/$10MM new Term Loan
2020/07/10 Altruista Health
Health Management
Comvest Credit Partners
Admin agent
41.6
To refinance certain existing debt and for growth
2020/07/10 Birks Group
Jewelry
Investissement Québec
Lender
7.35 Subordinated Secured Term Loan
For working capital
2020/07/13 Suominen
Manufacturing
Danske Bank, Nordea
Lenders
113.31 Revolver
Replaces exisiting facility
2020/07/14 Metal Era
Scrap Metal
Antares
Lead arranger
65
To support acquisition by GreyLion Capital
2020/07/14 Midwest Iron and Metal Company
Scrap Metal
Huntington Business Credit
Lender
10.5
To refinance existing debt and for working capital growth financing
2020/07/15 Mersino Management
Pumping Services
Great Rock Capital
Lender
40 Upsize of $5.1MM
2020/07/15 Nasuni
Cloud Storage
Silicon Valley Bank
Lender
15
To fund acquisitions and other strategic projects
2020/07/16 Europa Sports Products
Nutrition
CIT Northbridge Credit
Lead arranger
40
2020/07/17 Amicus Therapeutics
Pharmaceuticals
Hayfin Capital Management
Lender
400
To refinance existing debt and for general corporate and product development purposes
2020/07/21 Arhaus
Furniture Retail
Wingspire Capital
Lender
30 Senior Secured Loan
To replace a previous debt instrument and fund day-to-day financial needs
2020/07/21 Better Choice
Pet Supplies
Citizens Business Bank
Lender
7.5 Revolver
To support future growth initiatives
2020/07/23 Pyxus International
Agriculture
Sound Point Capital
Lender
75 Revolver
In conjunction with a plan of reorganization
2020/07/23 OneWater Marine
Boat Retail
Truist Bank
Admin agent
110 Features a $50MM accordion
2020/07/24 Westport Fuel Systems
Fuel Delivery
Export Development Canada
Lender
10
2020/07/29 Steve Madden
Retail
Citizens Commercial Banking
Lead left arranger
150 Revolver
2020/08/03 Noble Corporation
Offshore Drilling
JPMorgan Chase
Admin agent
675 Revolver
Part of Noble Corporation’s restructuring
2020/08/04 MaxLinear
Semiconductors
MUFG Union Bank
Admin agent
175 Term loan upsized from $140MM
To fund acquisition of Intel’s home gateway platform division
2020/08/07 Designer Brands
Retail
PNC
Admin agent
400 Revolver replaces existing cash flow facility
2020/08/07 Designer Brands
Retail
Sixth Street Specialty Lending
Admin agent
250 Term loan
2020/08/10 Empresas CMPC
Paper Products
BNP Paribas
Lead arranger
100 Sustainability-linked revolver
2020/08/10 Biohaven
Pharmaceuticals
Sixth Street Specialty Lending
Lender
500 Non-dilutive term loan
For the development, promotion and commercial launch of NURTEC ODT
2020/08/10 Oryx Stainless Group
Raw Materials
HSBC
Bookrunner
94.11 Refinancing of $117.64MM facility
For working capital requirements
2020/08/10 Trevali
Mining
Bank of Nova Scotia
Admin agent
150 Upsize to existing facility
For working capital and general corporate purposes
2020/08/10 Trevali
Mining
Glencore Canada Corporation
Lender
20 Second lien secured facility
For working capital and general corporate purposes
2020/08/12 Fortegra Financial
Insurance
Fifth Third
Lender
200
2020/08/14 Assure
Medical Services
Central Bank & Trust
Lender
6.5 $4MM term loan/$2.5MM operating line of credit
To pay off an existing lender and for working capital, acquisition and general corporate purposes
2020/08/18 Keytronic
Manufacturing
Bank of America
Lead arranger
93 Revolver
Replaces previous facility with Wells Fargo
2020/08/18 Ritchie Bros.
Equipment Auctions
Bank of America
Admin agent
630 $530MM multicurrency revolver/$100MM delayed-draw term loan
2020/08/18 The Middleby Corporation
Foodservice Equipment
Bank of America
Admin agent
3100 $2.75B multicurremcy revolver/$350MM term loan
Amendment to senior credit facility
2020/08/19 Auramet
Precious Metals
ING Capital
Admin agent
235 Includes a $25MM accordion
2020/08/20 USA Technologies
Software
JPMorgan Chase
Lender
20 $15MM Term Loan/$5MM Revolover
Replaces exisiting facility
2020/08/20 Bombardier
Aircraft Manufacturer
HPS Investment Partners
Admin agent
1000 Term Loan
2020/08/20 Tutor Perini
Construction
BMO Harris
Admin agent
600 $425MM Term Loan/$175MM Revolver
2020/08/21 Onodi Tool & Engineering
Assembly Manufacturer
Huntington Business Credit
Lender
6.5
2020/08/21 AOG Tru Food Manufaturing
Food Manufacturer
LBC Credit Partners
Admin agent
115 Term Loan
2020/08/21 NRG Energy
Energy Provider
Citigroup, Credit Suisse
Lead Arrangers
3640 Revolver
2020/08/25 1-800-Flowers
E-Commerce
JPMorgan Chase
Lead arranger
100 Term loan
Also upsized revolver to $250MM, working capital sublimit to $200MM and seasonally-reduced credit commitments to $125MM
2020/08/27 Kerecis
Medical Tech
Silicon Valley Bank
Lender
15 Asset-based revolving line of credit
To support working capital needs
2020/08/27 Jason Industries
Manufacturing
Wells Fargo
Lender
30
Exit financing
2020/08/28 Sunrun
Solar Energy
Silicon Valley Bank
Admin agent
265
Investec is a coordinating lead arranger with SVB
2020/08/28 Ullmain Oil Company
Oil
MidFirst Business Credit
Lender
12.2 Term loan
2020/08/31 Educational Development Corporation
Publishing
MidFirst Bank
Lender
10
2020/09/01 Encore Capital Group
Specialty Finance
Truist Bank
Agent
1050 Increase to multi-currency revolver
Supports combination of Midland Credit Management and Cabot Credit Management
2020/09/01 Steve Madden
Retail
CIT
Joint lead arranger
150 Revolver
2020/09/02 Whiting Petroleum
Oil and Gas
JPMorgan Chase
Admin agent
750 Reserve-based revolver
Part of new capital structure in Chapter 11 emergence
2020/09/03 Donnelly Custom Manufacturing
Manufacturing
Fifth Third Business Capital
Admin agent
13
To facilitate the acquisition of Donnelly Custom Manufacturing by Akoya Capital Partners
2020/09/03 A-Mark Precious Metals
Metals Trading
Rabobank
Admin agent
257.5 Expansion to existing $220MM facility
2020/09/04 Unit Corporation
Energy
BOKF
Admin agent
180 $140MM reserve-based revolver/$40MM term loan
Part of Unit Corporation's plan of reorganization
2020/09/04 Purple Innovation
Bedding
KeyBanc Capital Markets
Admin agent
100 $55MM revolving line of credit/$45MM term loan
2020/09/08 Marquee Brands and CSC Generation
Retail Management
Second Avenue Capital Partners
Lender
35
To support acquisition of Sur La Table
2020/09/08 Strategic Data Center
Investment Management
Sunflower Bank
Lender
25 Revolving line of credit with up to $200MM accordion
2020/09/09 Bell & Evans
Poultry
Rabobank
Lender
300 $50MM revolver/$65MM term loan/$185MM delayed draw term loan
To finance operations and construct a new facility
2020/09/09 Performance Designed Products
Electronics
Fifth Third Business Capital
Admin agent
25
2020/09/10 BlueVine
Fintech
Atalaya Capital
Lender
75 Revolver
To expand line of credit lending solutions
2020/09/10 Land's End
Apparel
Fortress Investment Group, STORY3 Credit Partners, Blue Torch Capital
Lenders
275 Term Loan
2020/09/14 Optical Cable Corporation
Fiber Optics
North Mill Capital
Lender
18 Revolving line of credit
To refinance a prior lender and for working capital
2020/09/16 XL Funding
Floorplan Finance
Wingspire Capital
Lender
40
To refinance a previous bank and extend capital to more markets
2020/09/17 Aligned
Infrastructure Tech
TD Securities
Admin agent
1000 $650MM term loan/$250MM revolver/$100MM delayed draw term loan
Sustainability-linked financing
2020/09/17 Vedanta Biosciences
Biopharmaceutical
Oxford Finance
Lender
15 Term loan
2020/09/22 Nu-Steel Trade
Steel Products
Tiger Finance
Lender
10 Delayed draw term loan
For working capital and general corporate purposes
2020/09/22 Protech Home Medical
Healthcare
CIT
Lender
20
2020/09/23 WeedMD
Cannabis
LiUNA Pension Fund
Lender
30
General working capital purposes
2020/09/25 QuadPay
Payment Technology
Goldman Sachs
Lender
20 Revolving line of credit
To expand buy now, pay later business
2020/09/28 Neiman Marcus
Retail
Bank of America
Lender
900
2020/09/29 Enservco
Oilfield Services
East West Bank
Lender
18 $17MM term loan/$1MM working capital line of credit
2020/09/29 Foundation Food Group
Food
MidCap Business Credit
Lender
15
2020/09/29 Ironwood Funding
Business Lending
Medalist Partners
Lender
40
To expand consumer charge-off program
2020/09/30 The O'Gara Group
Security
UMB Capital Finance
Lender
21 Revolving line of credit
To refinance existing debt and support working capital
2020/09/30 Franchise Group
Franchising
Citizens
Lead left arranger
125
To refinance an exisiting ABL for two of Franchise Group's businesses