ABL Deal Chart 2020 Q3

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

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

<img width="200" src="https://www.abfjournal.com/wp-content/uploads/2020/02/abfj-logo-web-header1-blue.png" alt="ABFJournal" />

ABL Deal Chart 2020 Q3