Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 4/01/21 through 6/30/21. All dollar amounts are in millions.

DATE BORROWER/INDUSTRY LENDER/ROLE AMOUNT STRUCTURE/NOTES
2021/04/01 Kudu Investment Management
Financial Services
MassMutual
Lender
300
2021/04/01 Fluent
Marketing
Citizens Bank
Admin agent
65 $50MM term loan/$15MM revolver
To repay previous facility and pay transaction fees and expenses, and for working capital and general corporate purposes
2021/04/01 Kudu Investment Management
Financial Services
MassMutual
Lender
300
2021/04/01 Fluent
Marketing
Citizens Bank
Admin agent
65 $50MM term loan/$15MM revolver
To repay previous facility and pay transaction fees and expenses, and for working capital and general corporate purposes
2021/04/02 Pilot Company
Convenience Stores
ING
Lender
650 Syndicated secured borrowing base loan
2021/04/06 Ideal Steel
Steel Fabrication
Gibraltar Business Capital
Lender
5
2021/04/06 Magnite
Marketing Tech
Goldman Sachs
Lender
412.5 $360MM term loan/$52.5MM revolver
2021/04/06 Fora Financial
Financial Services
Credit Suisse and Hudson Cove Capital Management
Lenders
100 Revolver
2021/04/06 Northern Reflections
Retail
Second Avenue Capital Partners
Lender
10 To refinance existing debt and for growth
2021/04/07 Alabama Metal Industries Corporation
Manufacturing
Fifth Third Business Capital
Lender
35 Revolving LOC and term loan
To facilitate sale of Diamond Perforated Metals and Erdle Perforating
2021/04/07 Yesway
Convenience Stores
JPMorgan Chase
Lead arranger
535 $410MM term loan/$125MM revolver
To pay down existing debt facilities and for general corporate purposes
2021/04/07 Worldwise
Pet Supplies
Wingspire Capital
Lender
46 $30MM revolving LOC/$16MM term loan
To replace previous credit facilities
2021/04/07 WeCommerce
E-Commerce Tech
JPMorgan Chase
Lender
80 $40MM term loan/$20MM revolver/$20MM delayed draw term loan
To support acquisition of Stamped
2021/04/08 Uown Leasing
Consumer Leasing
Encina Lender Finance
Lender
35
2021/04/08 Evoqua Water Technologies
Water Treatment
JPMorgan Chase
Admin agent
825 $475MM term loan/$350MM revolver
For refinancing
2021/04/09 Blue Racer Midstream
Natural Gas
Wells Fargo
Sole bookrunner
750 Revolver
Maturity extended by three years to 2025
2021/04/09 Main Street Capital
Financial Services
Truist Bank
Admin agent
855 Revolver
Upsize and extension
2021/04/12 Superior Plus Corp.
Energy
The Bank of Nova Scotia, TD Securities
Co-lead arrangers
750 Revolver
To reduce debt
2021/04/14 American Shared Hospital Services
Healthcare Finance
Fifth Third Bank
Lender
22 $9.5MM term loan/$7MM revolving LOC/$5.5MM term loan
2021/04/15 Apartment Income REIT
Real Estate
PNC Bank
Admin agent
1400 $800MM variable rate term loans/$600MM revolver
2021/04/16 General Mills
Consumer Packaged Goods
BofA Securities
Joint lead arranger
2700 Sustainability-linked revolver
Maturity extended to 2026
2021/04/16 Hunt & Sons
Petroleum Products
White Oak ABL
Lender
95
$10MM line increase
2021/04/16 Lane Gate Advisors
Investment Management
CrowdOut Capital
Lender
20 Term loan
2021/04/16 Jones Lang LaSalle
Professional Services
BMO Capital Markets, BofA Securities
Joint lead arrangers
2750
Maturity extended to 2026
2021/04/16 Xcel Brands
Media and Consumer Products
BHI, First Eagle Alternative Credit
Lenders
100 Includes a $25MM term loan
Refinancing
2021/04/19 American Homes 4 Rent
Housing
Wells Fargo
Admin agent
1250 Sustainability-linked revolver
2021/04/20 SYNNEX
Technology Solutions
Citigroup Global Markets
Lead arranger
5000 $3.5B revolver/$1.5B term loan
2021/04/20 Enviva Partners
Wood Processing
Barclays
Admin agent
525 Revolver upsized from $350MM
For growth, acquisition and general partnership purposes
2021/04/20 PetIQ
Pet Medications
KeyBank
Admin agent
125 Revolving LOC
2021/04/20 PetIQ
Pet Medications
Jefferies Finance
Admin agent
300 Term loan
2021/04/20 R.R. Donnelley & Sons
Business Services
Bank of America, JPMorgan Chase, PNC, Wells Fargo
Lead arrangers
650 Revolver
2021/04/21 Mainstay Medical
Medical Devices
Oxford Finance
Lender
50 Term loan
2021/04/22 Gogo
Internet
Morgan Stanley
Joint lead arranger
825 $725MM term loan/$100MM revolver
To repay notes and provide liquidity
2021/04/23 Constant
Cloud Computing
JPMorgan and Bank of America
Lenders
150 To expand global footprint of automated cloud infrastructure
2021/04/23 Victory Park Capital
Investments
MassMutual
Lender
200 Credit facility
To finance Victory Park Capital Specialty Lending Investment’s growth initiatives
2021/04/23 Phibro Animal Health
Animal Nutrition
Bank of America
Admin agent
550 $300MM term loan/$250MM revolver
To refinance a previous credit agreement
2021/04/27 WELL Health Technologies
Health Tech
JPMorgan, CIBC, HSBC Bank Canada
Leaders
300 $300MM revolver with accordion
To partially fund WELL’s acquisition of CRH Medical and facilitate CRH’s ongoing acquisition program
2021/04/28 Farmer Bros.
Beverage/Food
Wells Fargo
Leader
127.5 $80MM revolver/$47.5MM term loan
For general corporate purposes
2021/04/29 Moda Midstream
Infrastructure
Citizens Bank
Lead left arranger
300
To refinance existing debt and enhance liquidity
2021/04/30 Inscape
Office Furniture
FrontWell Capital Partners
Lender
15 Revolver
To repay existing indebtedness, finance new capital equipment and for general working capital
2021/04/30 Montrose Environmental Group
Environmental Services Provider
Bank of the West
Admin agent
300 $175MM term loan/$125MM revolver
Sustainability-linked/To pay outstanding borrowings
2021/04/30 Dillard’s
Retail
JPMorgan Chase
Arranger
800 Revolver
For general corporate purposes
2021/04/30 AirBoss of America
Manufacturing
TD Bank, National Bank of Canada, Comerica Bank, JPMorgan
Lenders
150 Revolver
Upsize of previous facility
2021/05/03 CollegeNET
Software
CIBC Innovative Banking
Lender
12.5
To further scale business
2021/05/03 Cosmo Films
Manufacturing
Fifth Third Business Capital
Lender
6 Revolver
2021/05/04 David’s Bridal
Retail
CPPIB Credit Investments
Lender
70 Term loan
To fund operations and for general corporate purposes
2021/05/04 Janie and Jack
Retail
MidCap Financial
Lender
22 $17MM revolver/$5MM term loan
To effectuate Go Global Retail’s acquisition of Janie and Jack from The Gap
2021/05/05 Advanced Lighting Technologies
Lighting Products
FGI
Lender
25 $21.3MM revolver/$3.7MM term loan
Also includes an additional cash equity infusion from an investment company
2021/05/06 Nogin
E-Commerce
Tiger Finance
Lender
6 Term loan
To support acquisition of ModCloth
2021/05/06 Summit Golf Brands
Apparel
CIBC Bank
Lender
15 Revolving LOC
To refinance existing debt and provide additional working capital
2021/05/06 UNTUCKit
Apparel
Second Avenue Capital Partners
Lender
30 Term loan
To restructure existing debt and for growth
2021/05/07 Examity
Technology
Bridge Bank
Lender
15 Term loan
2021/05/07 Xtant Medical Holdings
Medical Tech
MidCap Financial Trust
Lender
20 $12MM term loan/$8MM revolver
To repay previous credit agreement and for working capital needs
2021/05/07 Accuray
Medical Tech
Silicon Valley Bank
Admin agent
120 $80MM term loan/$40MM revolver
To repay existing facility
2021/05/10 Justice Cannabis
Cannabis
AFC Management
Admin agent
22 Term loan
To support expansion in New Jersey
2021/05/10 Copper River Seafoods
Food
SLR Business Credit
Lender
20 Revolving LOC
To refinance existing bank revolver and provide working capital
2021/05/11 Aspen Skilled Healthcare
Healthcare
White Oak Healthcare Finance
Admin agent
25
To finance ongoing working capital
2021/05/11 Eyenovia
Biopharmaceuticals
Silicon Valley Bank
Lender
25
2021/05/11 Mercon Coffee Group
Beverage/Food
Rabobank
Lender
500 Sustainability-linked revolver
To refinance an existing facility
2021/05/13 Gibraltar Business Capital
Financial Services
Bank of America
Agent
150 Line of credit
2021/05/13 Kala Pharmaceuticals
Pharmaceuticals
Oxford Finance
Lender
125 Term loan
To refinance existing indebtedness and provide additional growth capital
2021/05/14 Daytona Apparel Group
Retail
Tiger Finance, Encina Business Credit
Lenders
48.5 Revolver and term loan
To strengthen Daytona's balance sheet and support growth
2021/05/17 SOL Acceptance
Auto Loans
Huntington Business Credit
Lender
45
To refinance existing indebtedness and to provide working capital
2021/05/17 ImageOne Industries
Branding and Signage
MidCap Financial
Lender
15
To refinance a previous facility and for working capital
2021/05/17 SCYNEXIS
Bio Tech
Hercules Capital, Silicon Valley Bank
Lenders
60 Term loan
To strengthens balance sheet ahead of launch of Brexafemme
2021/05/17 Healogics
Wound Care
JPMorgan
Lender
400 $370MM term loan/$30MM revolver
2021/05/18 Keystone Agency Investors
Insurance
Madison Capital Funding
Lender
105
To accelerate acquisition of insurance agency partners
2021/05/18 Paragon 28
Medical Tech
MidCap Financial
Lender
70
2021/05/18 Micron Technology
Technology
Crédit Agricole
Structuring agent
3700 $2.5B revolver/$1.2B term loan
Sustainability-linked
2021/05/18 Vertical Bridge REIT
Infrastructure
Barclays Bank
Admin agent
325
To support Vertical Bridge REIT’s merger with Eco-Site
2021/05/18 Fox Racing
Biking Gear
Wingspire Capital
Lender
95 $60MM term loan/$35MM revolving LOC
To refinance a prior facility and to support growth
2021/05/19 MicroStar
Brewing Supplies
Ares Commercial Finance
Lender
10 Revolving line of credit
To support acquisition of Kegstar Holdings
2021/05/24 Vericast
Marketing
MidCap Financial
Lender
250 Revolver
To refinance prior facility and for working capital
2021/05/24 Diversis Capital
Private Equity
Fifth Third Business Capital
Lender
40
To support acquisition of Performance Designed Products
2021/05/26 Digital Media Solutions
Advertising
Truist Bank
Admin agent
275 $225MM in term loans/$50MM revolver
To repay previous facility and for working capital needs
2021/05/27 HomeLight
Real Estate Tech
Credit Suisse
Lender
100
To fuel expansion into Texas
2021/05/27 Akili Interactive
Medical Tech
Silicon Valley Bank
Lender
50
Part of $160MM financing round
2021/05/28 Golding Farms Foods
Condiments
Huntington Business Credit
Lender
34
To refinance existing indebtedness and for working capital
2021/05/28 JLL Income Property Trust
REIT
JPMorgan Chase
Admin agent
650 $415MM revolving LOC/$235MM term loan
2021/06/01 Revlon
Beauty Products
MidCap Financial
Admin agent
270 Revolver
MidCap replaced Citibank as admin agent
2021/06/01 Golden Star Resources
Mining
Macquarie Bank
Lender
90 Revolver, increasd by $20MM
Restructured from term loan to revolver
2021/06/01 DBM Global
Infrastructure
UMB Bank
Lender
220 $110MM term loan/$110MM revolver
Partially to support Banker Steel acquisition
2021/06/02 Tricon Precast
Concrete Manufacturing
Fifth Third Business Capital
Lender
16.5
2021/06/03 Fairway Lumber
Wood Products
MidCap Business Credit
Lender
10 Revolver
To refinance existing senior debt and to support growth
2021/06/03 Lantern Group
Healthcare
Oxford Finance
Lender
24
To acquire three assisted living and memory care facilities
2021/06/03 JAKKS Pacific
Toys
Benefit Street Partners
Lender
99 Term loan
To repay existing facility
2021/06/03 JAKKS Pacific
Toys
JPMorgan Chase
Lender
67.5 Revolver
Replaced existing facility
2021/06/04 Moda Operandi
Retail
Gordon Brothers, Consensus
Lenders
13 Term loan
To run a fulsome sale process
2021/06/04 Chapel Down
Wine
PNC Business Credit
Lender
21.1 $16.9MM in revolving finance facilities/$4.2MM term loan
To refinance indebtedness and for working capital
2021/06/04 AB Private Credit Investors
Business Development Company
WebBank, Synovus Bank
Lenders
150 Revolver/Upsize from $100MM
To invest in middle-market credit opportunities
2021/06/04 Targeted Lease Capital
Equipment Finance
Bridge Bank
Lender
25
2021/06/08 Cerecor
Biopharmaceuticals
Horizon Technology Finance
Lender
35 Term loan
2021/06/08 Revlon
Beauty Products
SLR Credit Solutions
Lender
130 Last out term loan
To refinance existing debt
2021/06/08 SSR Mining
Mining
CIBC
Admin agent
200 $125MM increase to revolver
For working capital, reclamation bonding and general corporate purposes
2021/06/08 Lux Speed
Wi-Fi
CSC Leasing
Lender
50 Credit line
2021/06/09 CareMax
Healthcare
RBC Capital Markets, Truist Securities
Joint leading arrangers
185 To partially fund business combination with Deerfield Healthcare Technology Acquisitions, CareMax Medical Group and IMC Medical Group Holdings
2021/06/09 GEE Group
Staffing
CIT
Lender
20 Loan and revolver
To pay off existing debt and for general working capital
2021/06/09 Boston Warehouse Trading
Consumer Goods
Eastern Bank
Lender
13 Revolving LOC
2021/06/09 Jet Edge International
Private Aviation
KKR
Lender
150 To support infrastructure and digital initiatives and reserve membership
2021/06/10 Dominion Energy
Energy
JPMorgan Chase, Mizuho Bank, BofA Securities, Scotiabank, Wells Fargo Securities
Joint lead arrangers
6000 Master credit facility
2021/06/10 Dominion Energy
Energy
Sumitomo Mitsui Banking, Scotiabank, TD Securities
Joint lead arrangers
900 Supplemental credit facility
2021/06/11 Hynes Industries
Metalworking
CIT Northbridge Credit
Lead arranger
17.4 To support operations and finance growth
2021/06/11 Strathcona Resources
Oil
TD Securities
Admin agent
830
2021/06/11 Assure Holdings
Healthcare
Centurion Financial Trust
Lender
11 $6MM term loan/$3MM acquisition line/$2MM revolving loan
To repay previous facility, for working capital and to fund acquisitions
2021/06/15 INmune Bio
Pharmaceuticals
Silicon Valley Bank
Lender
15
To partially fund buyout of an option held by Xencor
2021/06/15 Dorel Industries
Consumer Products
BMO
Admin agent
450 Revolver
2021/06/15 Douglas Dynamics
Equipment Manufacturer
JPMorgan Chase
Admin agent
325 $225MM term loan/$100MM revolver
Refinancing
2021/06/16 Corsicana Mattress Company
Bedding
Wingspire Capital
Lender
40 Revolver
Part of broader recapitalization for Corsicana
2021/06/16 Intertape Polymer Group
Industrial Products
Bank of America
Admin agent
600 Can be expanded to $900MM
To finance CAPEX, acquisitions, working capital, share repurchases and general corporate activities
2021/06/16 America First Multifamily Investors
Real Estate
BankUnited, Bankers Trust Company
Lenders
40 Line of credit
To purchase mortgage revenue bonds, governmental issuer loans and investments in unconsolidated entities
2021/06/16 Kate Farms
Plant-Based Nutrition
Pacific Western Bank
Lender
30
2021/06/17 AAK
Plant-Based Oils
Citi, Danske Bank, Mizuho Bank, Nykredit Bank, SEB
Lead arrangers
477 Sustainability-linked revolver
2021/06/17 Dext Capital
Equipment Finance
Regions Bank
Lender
25 Revolver
2021/06/17 Executive Cabinetry
Manufacturing
Huntington Business Credit
Lender
8
To refinance existing indebtedness and provide working capital
2021/06/18 Apollo Medical Holdings
Healthcare
Truist Bank
Admin agent
400 Revolver
To pay off prior facility and for working capital and acquisition purposes
2021/06/18 Frontdoor
Home Services
JPMorgan Chase
Admin agent
890 $380MM term loan/$260MM term loan/$250MM revolver
To refinance capital structure
2021/06/21 Transfix
Freight Technology
MidCap Financial
Lender
50 Revolver
To refinance a previous facility and provide working capital
2021/06/21 VIRA Insight
Retail Services
Fifth Third Business Capital
Lender
19.3 Revolver, term loan and capex facility
2021/06/23 Liquid Tech Solutions
Fuel
Citizens
Lead left arranger
350
To repay existing debt and to support future growth
2021/06/23 Uniguest
Software
Comvest Credit Partners
Admin agent
190
To support acquisition by Atlantic Street Capital
2021/06/23 Enseo Holdings
Technology
Prospect Capital
Lender
55 First lien senior secured floating rate term loan
To support acquisition by an affiliate of H.I.G. Capital
2021/06/23 Signify Health
Healthcare
Barclays Bank
Admin agent
535 $350MM term loan/$185MM revolver
Refinancing
2021/06/24 Analog Devices
Semiconductors
Bank of America
Admin agent
2500 Sustainability-linked revolver
Replaces existing facility
2021/06/24 Puracy
Natural Products
Gerber Finance
Lender
6 Line of credit
To fund operations, advertising and expansion
2021/06/25 MaxLinear
Technology
Wells Fargo Securities, MUFG Securities Americas, BMO Capital Markets, Citizens Bank
Lead arrangers
450 $350MM term loan/$100MM revolver
To support the company’s growth initiatives
2021/06/25 Tivity Health
Health Solutions
Morgan Stanley, Credit Suisse, Truist Bank
Lead arrangers
500 $400MM term loan/$100MM revolver
To repay existing credit agreement and for general corporate purposes
2021/06/28 PLAYSTUDIOS
Video Games
JPMorgan Chase
Admin agent
75 Revolver/Can be increased by $75MM
For working capital, general corporate purposes and permitted acquisitions
2021/06/29 CloudMD Software & Services
Healthcare Tech
BMO
Lender
62 $25MM committed term loan/$24MM uncommitted term loan/$10MM uncommitted accordion/$3MM revolver
Concurrent with acquisition of Oncidium
2021/06/30 Motherhood Maternity and A Pea in the Pod
Apparel
Second Avenue Capital Partners
Lender
10
For general working capital purposes and to provide additional liquidity
2021/06/30 Cascades Healthcare
Healthcare
Oxford Finance
Lender
27.5
For the acquisition of four skilled nursing facilities
2021/06/30 SG Credit Partners
Financial Services
Wingspire Capital
Lender
50 Revolving line of credit
To support growth