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 |