Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 1/01/21 through 3/31/21. All dollar amounts are in millions.
| DATE | BORROWER/INDUSTRY | LENDER/ROLE | AMOUNT | STRUCTURE/NOTES |
|---|---|---|---|---|
| 2021/01/04 | Greenbrook TMS Medical Tech |
Oxford Finance Lender |
30 | $15MM term loan and up to $15MM in delayed-draw term loans |
| 2021/01/04 | America’s Car-Mart Car Sales |
BOK Financial, Wells Fargo Co-syndication agents |
326 | Line of credit upsized from $241MM |
| 2021/01/04 | Covia Mineral Solutions |
PNC Lender |
135 | Part of Covia's emergence from Chapter 11 |
| 2021/01/04 | AssetMark Asset Management |
BMO Admin agent |
250 | Revolver To retire existing term loan |
| 2021/01/05 | Landec Corporation Health and Wellness |
BMO Lender |
75 | Line of credit |
| 2021/01/05 | Tuesday Morning Retail |
J.P. Morgan, Wells Fargo, Bank of America Lenders |
110 | Part of Tuesday Morning's emergence from Chapter 11 |
| 2021/01/06 | Avid Media Tech |
JPMorgan Chase Admin agent |
250 | $180MM term loan/$70MM revolver To repay outstanding borrowings under previous facility |
| 2021/01/06 | Orion Energy Systems Lighting |
Bank of America Lender |
25 | Revolver Replaces previous facility with Western Alliance Bank |
| 2021/01/07 | NextWave Wireless Spectrum Holdings |
Canyon Partners Lender |
200 | Term loan To retire existing debt and for operational funding |
| 2021/01/11 | Affimed Biopharmaceuticals |
Silicon Valley Bank Lender |
30.42 | Term loans To fund research and development expenses and for working capital purposes |
| 2021/01/12 | Better Choice Company Pet Products |
Wintrust Financial Lender |
12 | Long-term credit facility To refinance existing debt |
| 2021/01/13 | DocuSign Software |
Bank of America Admin agent |
500 | Revolver with $250MM accordion |
| 2021/01/13 | Polder Products Houseware Products |
Fifth Third Business Capital Lender |
10 | Revolver |
| 2021/01/13 | Concordance Healthcare Solutions Healthcare |
Huntington Business Credit Admin agent |
250 | To refinance existing indebtedness and to provide ongoing working capital growth financing |
| 2021/01/14 | Specialty Dental Brands Dental Services |
Oxford Finance Lender |
107 | Upsize of previous facility |
| 2021/01/15 | Good Times Restaurants Restaurants |
Cadence Bank Lender |
11 | Expansion of previous facility Maturity extended to January 2023 |
| 2021/01/15 | Coast to Coast Equipment Equipment Sales |
Great Rock Capital Lender |
15 | To refinance existing loan and provide liquidity |
| 2021/01/15 | Tarrytown Expocare Pharmacy |
Oxford Finance Lender |
122 | To finance an add-on acquisition |
| 2021/01/19 | InfoCision Telemarketing |
Huntington Business Credit Lender |
17.5 | To refinance existing debt and provide working capital |
| 2021/01/19 | Seamax Shipping Containerships |
CIT Lead arranger |
56 | Secured by four containerships |
| 2021/01/19 | Mountaingate Capital Private Equity |
Abacus Finance Group Admin agent |
26.3 | To support the leveraged buyout of BioDerm |
| 2021/01/20 | Synalloy Corporation Manufacturing |
BMO Harris Lender |
150 | Revolver |
| 2021/01/20 | CoreCentric Solutions Appliance Repair |
Concord Financial Advisors Arranger |
6 | Revolver |
| 2021/01/21 | Utz Brands Snack Foods |
Bank of America Admin agent |
720 | Term loan To repay a bridge loan and to refinance a previous term loan |
| 2021/01/21 | Vantage Mobility International Van Manufacturer |
Wingspire Capital Lender |
50 | Revolver To finance inventory and fund working capital cycle |
| 2021/01/21 | Qumu Corporation Video Tech |
Wells Fargo Lender |
10 | Revolver |
| 2021/01/21 | Ice Air HVAC Manufacturing |
Sterling National Bank Lender |
8.5 | To refinance existing debt and provide working capital |
| 2021/01/25 | Kent Water Sports Action Sports |
Huntington Business Credit Lender |
50 | To support acquisition by Seawall Capital and for working capital growth financing |
| 2021/01/25 | Byrna Technologies Security Equipment |
Needham Bank Lender |
6.5 | $5MM revolver/$1.5MM equipment line For general corporate and working capital purposes |
| 2021/01/26 | Rocky Brands Outdoor Apparel |
Bank of America Lender |
80 | To support acquisition of the performance and lifestyle footwear business of Honeywell International |
| 2021/01/26 | Rocky Brands Outdoor Apparel |
TCW Asset Management Lender |
130 | Term loan To support acquisition of the performance and lifestyle footwear business of Honeywell International |
| 2021/01/26 | Phobio Software |
Fifth Third Business Capital Lender |
25 | Revolver |
| 2021/01/27 | Maxim Healthcare Healthcare |
Capital One Admin agent |
200 | |
| 2021/01/29 | Dave Financial Services |
Victory Park Capital Lender |
100 | To support growth |
| 2021/02/02 | Commercial Equipment Finance Financial Services |
KeyBank Specialty Finance Lending Lender |
35 | Non-recourse revolving line of credit with accordion feature |
| 2021/02/02 | Hardin Holdings Industrial Services |
Fifth Third Business Capital Lender |
13.8 | Revolver |
| 2021/02/02 | francesca’s Retail |
Tiger Capital Group, SB360 Capital Group, Second Avenue Capital Partners Lenders |
25 | Revolver Part of asset sale |
| 2021/02/03 | Averhealth Drug Testing |
Oxford Finance Lender |
47 | For general working capital, to refinance debt and for acquisitions |
| 2021/02/03 | Challenge Manufacturing Manufacturing |
WhiteHawk Capital Partners Lender |
100 | Term loan For debt refinancing and additional liquidity |
| 2021/02/03 | iEnergizer Technology Services |
CIT Co-lead arranger |
165 | $150MM term loan/$15MM revolver To refinance debt and fund a dividend to shareholders |
| 2021/02/04 | Builders FirstSource Construction |
Truist Bank Admin agent |
1400 | Revolver increased from $900MM For working capital, general corporate purposes and growth initiatives |
| 2021/02/04 | Prosper Life Care Healthcare |
Oxford Finance Lender |
23.5 | Senior credit facility and revolving line of credit For the acquisition of two facilities |
| 2021/02/05 | Bridgestone Tires |
SMBC Lender |
1100 | Sustainability-linked credit facility |
| 2021/02/05 | NGL Energy Partners Energy |
JPMorgan Chase Admin agent |
500 | Revolver To refinance existing debt |
| 2021/02/05 | REPAY Fintech |
Truist Bank Admin agent |
125 | Revolver Replaces prior facility |
| 2021/02/08 | Sixth Street Specialty Lending Financial Services |
Truist Securities, JPMorgan, MUFG Union Bank Lead arrangers |
1485 | Revolver upsize |
| 2021/02/09 | GNS North America Metal Stamping |
Huntington Business Credit Lender |
30 | To refinance existing indebtedness and for working capital |
| 2021/02/09 | AECOM Infrastructure Consulting |
Bank of America Admin agent |
1397 | $1.15B revolver/$247MM term loan Amendment tied to ESG goals |
| 2021/02/09 | Beyond Finance Debt Resolution |
Comvest Credit Partners Admin agent |
110 | To refinance existing debt and for working capital |
| 2021/02/09 | KLDiscovery Software |
Wilmington Trust Lender |
40 | Revolving credit loans Lower annual debt payments and terminate prior lending commitments |
| 2021/02/10 | SWM Performance Materials |
JPMorgan Admin agent |
350 | Term loan Will be used to finance acquisition costs |
| 2021/02/10 | Ortho Clinical Diagnostics Healthcare |
Barclays Bank Admin agent |
500 | $150MM increase to revolver |
| 2021/02/10 | LAGO Innovation Fund I Venture Debt |
Encina Lender Finance Lender |
25 | To refinance fund subscription line and originate new venture debt facilities |
| 2021/02/11 | Oil States Oil & Gas |
Wells Fargo Admin agent |
125 | Replaces existing facility |
| 2021/02/11 | Potbelly Restaurants |
JPMorgan Lender |
25 | |
| 2021/02/12 | Venture Global LNG Oil & Gas |
JPMorgan, Morgan Stanley Lead arrangers |
500 | Term loan To fund pre-FID construction activities and for general corporate purposes |
| 2021/02/12 | Velocity Financial Financial Services |
BlackRock, Oaktree Capital Management, UBS O’Connor Lenders |
175 | Term loan To refinance existing debt and originate new loans |
| 2021/02/12 | InfuSystem Healthcare Services |
JPMorgan Chase Lead arranger |
75 | Revolver |
| 2021/02/16 | Golub Capital BDC Business Development Company |
JPMorgan Leader |
475 | Revolver |
| 2021/02/16 | Lighthouse Infrastructure Fund Management |
Crédit Agricole Admin agent |
550 | $490MM term loan/$60MM revolver To redeem outstanding notes, to repay a prior credit facility and for general corporate purposes |
| 2021/02/16 | Cora Hygiene Products |
Gibraltar Business Capital Lender |
5 | Line of credit |
| 2021/02/16 | J. Supor & Son Trucking & Rigging Trucking |
Pathway Capital Lead arranger |
7 | Revolver For working capital |
| 2021/02/17 | ARCA Holdings Manufacturing |
Comvest Credit Partners Admin agent |
95 | To repay existing debt |
| 2021/02/17 | Standard Premium Finance Management Financial Services |
First Horizon Business Credit Lender |
35 | Line of credit |
| 2021/02/18 | Goodfood Market Grocery |
CIBC, Desjardins Capital Markets, Investissement Québec Lender |
67 | Includes $21MM upsize made up of a $15MM revolver and $6MM short-term financing |
| 2021/02/19 | Consulting Solutions Staffing |
Fifth Third Business Capital Lender |
25 | Revolving line of credit |
| 2021/02/23 | Nice-Pak Pre-moistened wipes |
Citizens Lead left arranger |
325 | To refinance existing debt and enhance liquidity |
| 2021/02/24 | The Pennant Group Healthcare |
Truist Bank Lender |
150 | $75MM upsize to existing revolver For acquisitions, investments and working capital |
| 2021/02/25 | CSP Alpha Holdings Technology |
ING Bank, DBS Bank Underwriters |
185 | $165MM term loan/$20MM revolver |
| 2021/02/25 | Calibre Scientific Life Sciences |
CVC Credit Lender |
57 | |
| 2021/02/26 | Broadmark Realty Capital Real Estate Finance |
JPMorgan Admin agent |
135 | Revolver |
| 2021/02/26 | TRADE X Automotive Trading |
Finitive Lender |
50 | Revolving LOC with $100MM accordion |
| 2021/02/26 | Big 5 Sporting Goods Retail |
Bank of America Admin agent |
150 | Revolver |
| 2021/02/26 | Atlas Technical Consultants Infrastructure Solutions |
Blackstone Credit Lender |
507 | $432MM long-term loan/$75MM delayed draw term loan Part of recapitalization |
| 2021/02/26 | Atlas Technical Consultants Infrastructure Solutions |
JPMorgan Lender |
40 | Revolver Part of recapitalization |
| 2021/03/01 | Rawlings Sporting Goods Sporting Goods |
Ares Commercial Finance Lender |
100 | Revolving line of credit To support the acquisition of Easton Diamond Sports |
| 2021/03/03 | Alterna Capital Solutions Financial Services |
Wells Fargo Capital Finance Lender |
110 | Line increased by $30MM |
| 2021/03/03 | Liquidia Corporation Pharmaceuticals |
Silicon Valley Bank Lender |
20.5 | Three tranches of term loans |
| 2021/03/03 | Winc Subscription Service |
Pacific Mercantile Bank Lender |
7 | |
| 2021/03/04 | Anthem Entertainment Media |
Truist Securities Left lead arranger |
400 | Revolver with $150MM accordion |
| 2021/03/04 | A&M Pizza Restaurant Franchise |
Sterling National Bank Lender |
24.681 | To refinance debt and support acquisitions |
| 2021/03/08 | Petco Pet Supplies |
Citibank Admin agent |
2200 | $1.7B term loan/$500MM revolver |
| 2021/03/08 | Nexamp Solar Energy |
MUFG Union Bank Coordinating lead arranger |
440 | For a portfolio of solar and energy storage assets |
| 2021/03/11 | Harsco Industrial Services |
Goldman Sachs Joint lead arranger |
500 | Term loan Part of refinancing |
| 2021/03/11 | Daseke Transportation |
JPMorgan Chase Bookrunner |
400 | Term loan Part of refinancing |
| 2021/03/16 | Minim Internet Services |
Silicon Valley Bank Lender |
13 | |
| 2021/03/16 | NextGen Healthcare Healthcare |
JPMorgan Chase Admin agent |
300 | Includes $150MM accordion |
| 2021/03/16 | LPL Financial Financial Services |
JPMorgan Chase Arranger |
1000 | Revolver upsized from $750MM To pay existing notes, fees and expenses |
| 2021/03/16 | Pointe Group Care Healthcare |
Oxford Finance Lender |
57.2 | For working capital and to refinance debt and support acquisitions |
| 2021/03/16 | Tronox Holdings Titanium Dioxide Producer |
HSBC Admin agent |
1650 | $1.3B term loan/$350MM revolver Part of refinancing |
| 2021/03/16 | Pisec Group America Metal Trading |
BHI Lender |
6 | |
| 2021/03/16 | Verra Mobility Technology |
Bank of America Admin agent |
650 | For refinancing and acquisition purposes |
| 2021/03/17 | American Zinc Recycling Environmental Services |
Blue Torch Finance Lender |
120 | Term loan |
| 2021/03/18 | Nextaff Staffing |
Sterling National Bank Lender |
5 | |
| 2021/03/18 | Churchill Downs Entertainment |
JPMorgan Chase Admin agent |
300 | Term loan |
| 2021/03/19 | Universal Stainless & Alloy Products Metal Working |
PNC Lender |
120 | $105MM revolver/$15MM term loan |
| 2021/03/19 | Atotech Specialty Chemicals |
Goldman Sachs Admin agent |
1800 | $1.35B term loan/$250MM revolver/$238.53MM term loan |
| 2021/03/22 | Southern States Cooperative Retail |
Ares Commercial Finance Lender |
45 | Revolving LOC To refinance existing facility and for working capital |
| 2021/03/22 | Digi International IoT Technology |
BMO Harris Admin agent |
200 | Includes option to upsize by $75MM For working capital, capital expenditures, restricted payments, acquisitions, general corporate purposes |
| 2021/03/23 | Metro Group N/A |
Webster Bank Lender |
34 | Supports acquisition of Response Electric |
| 2021/03/23 | Newtek Business Lending SBA 504 Loans |
Deutsche Bank Lender |
100 | |
| 2021/03/24 | NN Industrial Services |
JPMorgan Admin agent |
50 | Revolver |
| 2021/03/24 | NN Industrial Services |
JPMorgan Advisor |
150 | Term loan |
| 2021/03/25 | MayStreet Data Tech |
CIBC Innovation Banking Lender |
10 | |
| 2021/03/29 | Verra Mobility Mobility Tech |
Bank of America Admin agent |
650 | Term loan |
| 2021/03/29 | Carpenter Technology Manufacturing |
Bank of America, JPMorgan Chase Joint lead arrangers |
300 | |
| 2021/03/29 | WildBrain Entertainment |
RBC Capital Markets Lead arranger |
285 | Term loan |
| 2021/03/29 | WildBrain Entertainment |
RBC Capital Markets Lead arranger |
30 | Revolver |
| 2021/03/30 | Opportunity Financial Fintech |
Atalaya Capital Management Lender |
50 | To refinance indebtedness and provide growth capital |
| 2021/03/30 | TTEC Software |
Wells Fargo Lender |
1200 | $300MM increase to existing facility To increase financial capacity and to support investments, acquisitions and capital distributions |
| 2021/03/30 | Navacord Insurance |
TD Securities, BMO Admin agents |
830 | First and second lien term loans and revolver To replace previous debt and to fund M&A opportunities |