Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 7/01/21 through 9/30/21. All dollar amounts are in millions.
| DATE | BORROWER/INDUSTRY | LENDER/ROLE | AMOUNT | STRUCTURE/NOTES |
|---|---|---|---|---|
| 2021/07/01 | Sonoco Packaging |
Bank of America Admin agent |
750 | Revolver Replaces a prior facility |
| 2021/07/01 | Lakeland Industries Protective Clothing |
Bank of America Lender |
25 | Revolver Upsize of previous facility |
| 2021/07/02 | Clarus Corporation Outdoor Equipment |
JPMorgan Chase Lender |
225 | Includes $50MM accordion Upsize of previous facility |
| 2021/07/02 | Absolute Software Software |
Benefit Street Partners Lender |
275 | Term loan To partially finance acquisition of NetMotion Software |
| 2021/07/02 | Ampco-Pittsburgh Steel Manufacturing |
PNC Bank Admin agent |
100 | Revolving line of credit with $30MM accordion |
| 2021/07/07 | Horizon Mud Company Oil and Gas |
MidCap Business Credit Lender |
6.5 | Revolving line of credit |
| 2021/07/07 | HireQuest Staffing |
Truist Lender |
63.2 | $60MM revolver/$3.2MM term loan To pay off prior facility and pay transaction fees and expenses |
| 2021/07/07 | Avenger Flight Group Flight Training |
Marathon Asset Management Lender |
155 | To repay existing indebtedness and for growth capital |
| 2021/07/08 | Micron Solutions Manufacturing |
Berkshire Bank Lender |
7 | $5MM revolving line of credit/$2MM capex line of credit For working capital, capital expenditures and general corporate purposes |
| 2021/07/08 | MindCare Solutions Group Telehealth |
Alignment Credit Admin agent |
20 | To support acquisition of TriCounty Tele Behavioral Services |
| 2021/07/08 | Tenable Cybersecurity |
JPMorgan Chase, Morgan Stanley Senior Funding, Bank of America, Barclays Bank Lead arrangers |
425 | $375MM term loan/$50MM revolver For general corporate purposes |
| 2021/07/08 | Cadiz Natural Resources |
B. Riley Securities Agent |
50 | Part of refinancing package |
| 2021/07/09 | JOANN Retail |
Bank of America Admin agent |
675 | Term loan To refinance previous facility |
| 2021/07/09 | Advanced Recovery Systems Healthcare |
White Oak Healthcare Finance Admin agent |
75 | |
| 2021/07/12 | Rimini Street Software |
Capital One Lead arranger |
90 | Term loan For the redemption of Series A preferred stock |
| 2021/07/13 | APX Group Environmental Tech |
Bank of America Admin agent |
1720 | $1.35B term loan/$370MM revolver Part of refinancing |
| 2021/07/14 | Charles & Colvard Jewelry |
JPMorgan Chase Lender |
5 | Replaces prior facility |
| 2021/07/14 | Crossroads Extremity Systems Medical Tech |
Runway Growth Capital Lender |
15 | Term loan |
| 2021/07/15 | Tornado Global Hydrovacs Hydrovac Trucks |
TD Bank Lender |
7.8 | $4.8MM term loan/$3MM revolving operating LOC To repay the balance of a non-interest-bearing vendor take-back mortgage and for working capital |
| 2021/07/15 | Riccelli Enterprises Trucking Supplies |
TerraNova Capital Structured Finance Lender |
25 | Term loan For refinancing and working capital purposes |
| 2021/07/15 | Jefferies Finance Leveraged Finance |
SMBC Group Lender |
1650 | Revolver SMBC is also providing a $250MM subordinated loan |
| 2021/07/15 | Jefferies Financial Group Financial Services |
SMBC Group Lender |
350 | Revolver |
| 2021/07/16 | Camin Cargo Control Oil and Gas Services |
Comvest Credit Partners Lender |
163 | To refinance existing debt |
| 2021/07/16 | Lazydays Recreational Vehicles |
M&T Bank Lender |
369 | Upsize of previous facility |
| 2021/07/20 | Evermore Cannabis Company Cannabis |
AFC Gamma Lender |
15.5 | To finance expansion of cultivation facility |
| 2021/07/21 | Above Lending Consumer Lending |
Comvest Credit Partners Lender |
50 | |
| 2021/07/23 | Motus GI Holdings Medical Tech |
Kreos Capital Lender |
12 | $5MM term loan/$4MM convertible loan/$3MM term loan To refinance existing indebtedness, enhance product development and growth plans and for general corporate purposes |
| 2021/07/23 | Intersect ENT Medical Tech |
Deerfield Management Company Lender |
60 | Three $20MM tranches To fund an acquisition payment and for general corporate purposes |
| 2021/07/23 | Marathon Gold Mining |
Sprott Resource Lending Lender |
185 | Term loan To fund the construction of the Valentine Gold Project |
| 2021/07/23 | National Grid Energy |
SMBC Admin agent |
150 | Revolver with accordion to increase to $250MM To support renewable energy projects and the company's portfolio |
| 2021/07/23 | MoneyGram Payments |
Bank of America Admin agent |
432.5 | $400MM term loan/$32.5MM Revolver To prepay exisiting indebtedness from prior facility and to pay related accrued interest, fees and expenses |
| 2021/07/23 | Star Mountain Capital Financial Services |
ING Capital Lender |
225 | Asset-based leverage facility For Star Mountain Capital’s third strategic credit income fund |
| 2021/07/26 | Western Forest Products Building Products |
Royal Bank of Canada Admin agent |
250 | Sustainability-linked credit facility Original facility transitioned to include ESG targets |
| 2021/07/26 | U.S. Steel Metalworking |
J.P. Morgan Securities and ING Capital Lender |
2000 | Sustainability-linked credit facility Original facility transitioned to include sustainability targets |
| 2021/07/27 | Marble Financial Financial Tech |
Cypress Hills Partners Lender |
10 | To re-engage financial wellness fast-track program |
| 2021/07/28 | AvantGarde Senior Living Healthcare |
Oxford Finance Lender |
28 | To refinance existing debt on a facility located in Tarzana, CA |
| 2021/07/28 | GoodData Software |
J.P. Morgan Lender |
45 | To grow sales and engineering teams and invest in building solutions for enterprise-grade analytics |
| 2021/07/28 | CareVet Healthcare |
Comvest Credit Partners Admin agent |
103 | Upsize of previous facility To fund growth |
| 2021/07/29 | Urgent Care Healthcare |
SLR Healthcare ABL Lender |
20 | Revolving LOC |
| 2021/07/29 | LendingUSA Point-of-Sale Financing |
Atalaya Capital Management, Credit Suisse Lenders |
200 | To expand products and services |
| 2021/07/30 | Purity Services Linen Rental |
Cambridge Savings Bank Lender |
10.85 | Added $6.5MM to original facility |
| 2021/07/30 | IBC Advanced Alloys Metalworking |
Iron Horse Credit Lender |
4 | Revolver To update a manufacturing facility and for working capital purposes |
| 2021/08/02 | 4D pharma Pharmaceuticals |
Oxford Finance Lender |
30 | Split into tranches of $12.5MM, $10MM and $7.5MM |
| 2021/08/02 | Cantor Fitzgerald Income Trust REIT |
Citizens Bank Lender |
200 | Revolver with accordion For general corporate purposes and to fund new portfolio investments |
| 2021/08/02 | Progrexion Credit Repair |
Prospect Capital Lender |
202 | $153MM second lien senior secured floating rate term loan/$49MM first lien senior secured floating rate term loan To support refinancing |
| 2021/08/03 | Avaamo Software |
Liquidity Capital Lender |
7 | |
| 2021/08/03 | TILT Holdings Cannabis |
Alternative Finance Network Lender |
10 | Revolver For general corporate purposes and capital projects |
| 2021/08/04 | Siena Lending Group Financial Services |
Wells Fargo Capital Finance Lender |
400 | |
| 2021/08/04 | City Electric Factors Electrical Services |
Wells Fargo Capital Finance Lender |
208.9 | To provide liquidity for growth and working capital |
| 2021/08/04 | French Transit Health and Wellness |
Gerber Finance Lender |
5 | Line of credit To support expansion of health and skincare portfolio |
| 2021/08/05 | Corvias Infrastructure Solutions Infrastructure Development |
Goldman Sachs Asset Management Lender |
75 | To finance municipal stormwater and green infrastructure programs |
| 2021/08/05 | Silverpeak Cannabis |
Green Ivy Capital Lender |
10 | Term loan To refinance existing indebtedness and to support growth |
| 2021/08/06 | Boxed E-Commerce |
BlackRock Lender |
45 | |
| 2021/08/06 | INDUS Realty Trust REIT |
JPMorgan Chase Admin agent |
100 | Revolver Replaces previous facilities |
| 2021/08/06 | Karbon Software |
CIBC Innovation Banking Lender |
5 | To support hiring plans and invest in product set |
| 2021/08/09 | Meritage Hospitality Group Restaurants |
City National Bank Lender |
302.8 | To support the company’s ability to meet its five-year plan of 600 restaurants by 2026 |
| 2021/08/10 | Pretivm Mining |
Bank of Nova Scotia Admin agent |
350 | $250MM revolver/$100MM term facility Upsizes previous facility/Term facility refinances term loan/Revolver to be used for general corporate purposes |
| 2021/08/10 | Organogenesis Regenerative Medicine |
Silicon Valley Bank Lead agent |
200 | $125MM revolver/$75MM term loan For general corporate purposes and to pay off prior facility |
| 2021/08/10 | Saks OFF 5TH Retail |
Citibank, Citizens Lenders |
125 | Revolver To support online business and for general corporate and working capital purposes |
| 2021/08/10 | Saks OFF 5TH Retail |
Callodine Commercial Finance Lender |
20 | Term loan |
| 2021/08/10 | Bed Bath & Beyond Retail |
JPMorgan Chase Admin agent |
1000 | Revolver Upsize from $850MM |
| 2021/08/11 | MPC Container Ships Container Ships |
CIT Lead arranger |
70 | For additional fleet equipment investments, potential acquisitions and general corporate purposes |
| 2021/08/11 | Trading Technologies Software |
Ares Commercial Finance Lender |
20 | Revolving line of credit To support general working capital needs |
| 2021/08/11 | Unchained Labs Scientific Tools |
Midcap Financial, Golub Capital Lenders |
155 | Revolver/term loan/delayed draw term loan To support future acquisitions |
| 2021/08/11 | Associa Community Management |
Owl Rock Lender |
1270 | Revolver/delayed draw term loans To refinance an existing facility and to fund general corporate purposes and continued M&A |
| 2021/08/12 | The Lion Electric Company Electric Vehicles |
National Bank of Canada Admin agent |
100 | Revolver For working capital, capital expenditure requirements and general corporate purposes |
| 2021/08/12 | ClearOne Advantage Debt Resolution Services |
Comvest Credit Partners Admin agent |
110 | To refinance existing debt and fund ongoing working capital needs |
| 2021/08/12 | F Street Investments Real Estate Lending |
CIT Northbridge Credit Lead arranger |
25 | |
| 2021/08/17 | Intermetal Rebar Metal Manufacturing |
CIT Northbridge Credit Lead arranger |
50 | |
| 2021/08/17 | LivaNova Medical Tech |
Goldman Sachs Bank Agent |
125 | Revolver |
| 2021/08/17 | TeleTracking Technologies Healthcare Tech |
Huntington Business Credit Lender |
60 | |
| 2021/08/20 | My Alarm Center Security |
Pathlight Capital Agent |
50 | Delayed-draw term loan To refinance existing credit facility and fund growth |
| 2021/08/23 | Henry Schein Healthcare Products |
JP Morgan Securities, U.S. Bank Joint lead arrangers |
1000 | Revolver Expansion and extension of facility |
| 2021/08/24 | Rite Aid Pharmacies |
Bank of America Admin agent |
3150 | $2.8B revolver/$350MM FILO term loan Extension and amendment to previous facility |
| 2021/08/24 | Haivision Systems Video Streaming |
Bank of Montreal Lender |
35 | Revolving LOC For general working capital, general corporate requirements and financing for acquisitions |
| 2021/08/24 | Evolve Transition Infrastructure Energy Infrastructure |
Royal Bank of Canada Lender |
70 | $65MM term loan/$5MM revolver Amendment to previous facility |
| 2021/08/25 | NuBridge Commercial Lending Real Estate Lending |
Cadence Business Finance Agent |
73.5 | Revolver The bank group also includes Sunflower Bank, Congressional Bank and Dominion Bank |
| 2021/08/25 | W.B. Mason Office Products |
Citizens Lead arranger |
325 | $275MM revolver/$50MM FILO To repay existing debt and to support future growth |
| 2021/08/26 | Addus HomeCare Health Services |
Capital One Admin agent |
600 | Revolving LOC To support M&A opportunities |
| 2021/08/31 | Honey Stinger Sports Nutrition |
Gerber Finance Lender |
5 | To provide additional working capital |
| 2021/08/31 | Premier Health of America Health Tech |
Royal Bank of Canada Lender |
19.8 | Revolver To refinance debt and for general corporate purposes and acquisitions |
| 2021/08/31 | MamaMancini’s Food Products |
M&T Bank Lender |
10.5 | Expansion of $6MM For acquisition financing |
| 2021/08/31 | Ascend Wellness Holdings Cannabis |
Seaport Global Securities Lead manager |
210 | Term loan To repay debt, finance an investment and support growth |
| 2021/08/31 | Quisitive Technology Solutions Payment Solutions |
BMO Lender |
75 | $70MM revolver/$5MM term loan To pay out debt and for acquisition and working capital purposes |
| 2021/08/31 | The Greenbrier Companies Transportation Equipment |
Bank of America Admin agent |
1000 | $600MM revolver/$292MM term loan/$200MM term loan for Greenbrier Leasing subsidiary |
| 2021/09/01 | VetCare Canada Veterinary Practices |
Northleaf Capital Lead arranger |
175 | To support VetCare’s continued expansion across Canada |
| 2021/09/01 | BeLeaf Medical Cannabis |
AFC Gamma Lender |
23 | To expand three Missouri cultivation facilities |
| 2021/09/02 | EquipmentShare Equipment Rental |
Capital One Lender |
1200 | Revolving LOC with $800MM accordion option/$500MM term loan also part of the deal |
| 2021/09/02 | Pasadena Private Finance Commercial Lending |
East West Bank Lender |
30 | To increase portfolio and take advantage of trends in the guaranteed business loan market |
| 2021/09/03 | TransPerfect Language and Tech Services |
Bank of America Admin agent |
500 | $250MM term loan/$250MM revolver Replaces previous facility |
| 2021/09/03 | Integer Holdings Medical Devices |
Wells Fargo Admin agent |
1000 | $400MM revolver/$350MM term loan B/$250MM term loan A Reduces overall borrowing costs in addition to other enhancements |
| 2021/09/07 | PHX Minerals Minerals |
Independent Bank Lender |
100 | Revolver |
| 2021/09/07 | Gold Royalty Precious Metals |
BMO Lender |
10 | Revolver/Includes $15MM accordion For general corporate purposes, acquisitions and investments |
| 2021/09/08 | Altus Power Energy |
Blackstone Credit Lender |
503 | Upsize To fund the acquisition of a 79-megawatt portfolio of operating solar projects |
| 2021/09/08 | Corsair Gaming Video Game Equipment |
Bank of America Lender |
350 | $250MM term loan/$100MM revolving LOC |
| 2021/09/08 | TNT Crane & Rigging Crane Services |
Wells Fargo Lender |
504 | $385MM revolver/$119MM second lien term loan To repay priority first lien credit agreement and takeback first lien credit agreement |
| 2021/09/09 | Bayloff Stamped Products Detroit Metal Stamped Components |
Huntington Business Credit Lender |
15 | |
| 2021/09/10 | Nuula Financial Technology |
Ares Management Lender |
100 | To provide scale to Nuula's app's integrated credit product |
| 2021/09/13 | RF Capital Group Wealth Management |
Canadian Imperial Bank of Commerce Lender |
200 | Revolver/$75MM accordion |
| 2021/09/14 | Flowserve Flow Control Products |
Bank of America Lender |
1100 | $800MM revolver/$300MM term loan Includes a sustainability-linked option |
| 2021/09/14 | Maurices Retail |
Wingspire Capital Agent |
200 | $100MM revolving LOC/$100MM term loan |
| 2021/09/15 | Hammond’s Candies Candy |
TAB Bank Lender |
7.5 | Revolver To support working capital needs |
| 2021/09/15 | NorthCape International Outdoor Furniture |
Gerber Finance Lender |
10 | For working capital |
| 2021/09/15 | National Group Earthmoving Equipment |
Gordon Brothers Lender |
190 | To support refinancing of existing debt facilities |
| 2021/09/17 | Ranger Energy Services Oil & Gas Industry Equipment |
Eclipse Business Capital Lender |
77.5 | $50MM revolver/$15MM term loan B/$12.5MM M&E term loan To pay off existing indebtedness |
| 2021/09/20 | IFS Intermediate Industrial Vacuuming |
Great Rock Capital Lender |
13.2 | For refinancing and to support additional growth |
| 2021/09/21 | Information Services Corporation Land Titles |
Royal Bank of Canada Admin agent |
150 | |
| 2021/09/21 | Phantom Pharmaceuticals Pharmaceuticals |
Hercules Capital Lender |
200 | Term loan |
| 2021/09/22 | Ritchie Bros. Equipment Sales |
Bank of America Admin agent |
1045 | $750MM multicurrency revolver/$295MM delayed draw term loan |
| 2021/09/22 | MVP Payroll Financing Human Resources Services |
CIT Northbridge Credit Sole lead arranger |
45 | |
| 2021/09/22 | Pact Apparel |
Gerber Finance Lender |
7.5 | Line of credit |
| 2021/09/23 | Maurices Retail |
SLR Credit Solutions Lender |
200 | |
| 2021/09/23 | bebe store Retail |
SLR Credit Solutions Lender |
55 | Term loan |
| 2021/09/23 | Kaspien Holdings E-Commerce |
Eclipse Business Capital Lender |
25 | Revolver |
| 2021/09/23 | CareCloud Healthcare Tech |
Silicon Valley Bank Lender |
20 | LOC |
| 2021/09/24 | SageSure Homeowners Insurance |
Citizens Lender |
125 | |
| 2021/09/24 | Wings Capital Partners Aircraft Leasing |
Goldman Sachs Structuring agent |
500 | To acquire a portfolio of predominantly narrow-body commercial jet aircraft |
| 2021/09/24 | AirBoss of America Manufacturing |
TD Bank Lead arranger |
250 | Revolver/Accordion of $75MM To execute existing and potential future contracts and growth strategies |
| 2021/09/28 | Corium Biopharmaceuticals |
Hercules Capital Lender |
235 | Term loan |
| 2021/09/29 | Virtus Investment Partners Asset Management |
Morgan Stanley Lead arranger |
450 | $275MM term loan/$175MM revolver To repay existing term loan and for general corporate purposes |
| 2021/09/29 | Physicians Realty Trust REIT |
KeyBank Admin agent |
1000 | Increase and extension of credit agreement |
| 2021/09/30 | Wishpond Technologies Marketing |
National Bank of Canada Lender |
6 | Revolver To fund working capital requirements |
| 2021/09/30 | Blue Cloud Pediatric Surgery Centers Healthcare |
CIBC Innovation Banking Lender |
15 | For expansion |
| 2021/09/30 | Betterment Investment Advisory |
ORIX Agent |
100 | To accelerate growth |
| 2021/09/30 | Kore.ai Software |
Sterling National Bank Lender |
20 | Part of $70MM financing package |
| 2021/09/30 | Ericsson Telecommunications |
Swedbank Agent |
2000 | Sustainability-linked revolver For general corporate purposes |
| 2021/09/30 | Ford Automobiles |
JPMorgan Chase Admin agent |
15000 | Sustainability-aligned revolvers |