Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 7/01/21 through 9/30/21.

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