Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 10/01/21 through 12/31/21. All dollar amounts are in millions.
| DATE | BORROWER/INDUSTRY | LENDER/ROLE | AMOUNT | STRUCTURE/NOTES |
|---|---|---|---|---|
| 2021/10/01 | America’s Car-Mart Car Sales |
BMO Lender |
600 | Revolver Increase of previous version of the facility |
| 2021/10/01 | Centerspace Real Estate |
BMO Admin agent |
250 | Revolver Amendment of previous version of the facility |
| 2021/10/01 | Helix Energy Solutions Group Oil & Gas |
Bank of America Admin agent |
80 | Revolver |
| 2021/10/01 | Huttig Building Products Building Materials |
JPMorgan Chase Admin agent |
250 | Replaces previous facility |
| 2021/10/04 | Ranger Energy Services Oil & Gas |
Eclipse Business Capital Lender |
77.5 | $50MM revolver/$15MM term loan/$12.5MM M&E term loan To acquire Basic Energy Services, pay off existing indebtedness and provide working capital |
| 2021/10/05 | Overseas Shipholding Group Energy Transportation |
Stonebriar Commercial Finance Lender |
325 | Term loan To partially refinance previous facility and for working capital |
| 2021/10/05 | Renewable Energy Group Energy |
Bank of America, Fifth Third, Wells Fargo Lenders |
250 | Line of credit Increase and extension to previous facility |
| 2021/10/06 | OppFi Fintech |
BMO Admin agent |
45 | Expansion of previous facility |
| 2021/10/06 | Taseko Mines Limited Mining |
National Bank of Canada Arranger |
50 | Revolver For working capital and general corporate purposes |
| 2021/10/06 | Orion Engineered Carbons Carbon Manufacturing |
Goldman Sachs Bookrunner |
650 | Sustainability-linked term loan Replaces previous term loan |
| 2021/10/06 | Speed Leasing Motorcycle Leasing |
Encina Lender Finance Lender |
35 | |
| 2021/10/06 | Marathon Digital Holdings Bitcoin Mining |
Silvergate Bank Lender |
100 | Revolving LOC For general corporate purposes |
| 2021/10/07 | Thentia Software-as-a-Service |
Espresso Capital Lender |
15 | To support investments and acquisitions |
| 2021/10/07 | Sandstorm Gold Royalties Royalties |
BMO Sustainability structuring agent |
350 | Sustainability-linked revolver |
| 2021/10/07 | Saratoga Investment Business Development Company |
Encina Lender Finance Lender |
50 | |
| 2021/10/08 | MAP Health Management Healthcare |
Espresso Capital Lender |
14 | To scale business and fuel M&A strategy |
| 2021/10/11 | SmartStop Self Storage Storage |
KeyBank Admin agent |
700 | $450MM revolver/$250MM term loan SmartStop exercised $200MM accordion |
| 2021/10/11 | Dye & Durham Software |
Ares Capital Management Admin agent |
1800 | To repay existing facility and to finance acquisitions |
| 2021/10/11 | Carnival Cruises |
JPMorgan Chase Coordinator |
2300 | Syndicated term loan To redeem 11.5% first priority senior secured notes due in 2023 |
| 2021/10/12 | Apical Group Agri-Business |
First Abu Dhabi Bank Lead arranger |
750 | Sustainability-linked revolver and term loan To finance working capital and capital expenditure requirements |
| 2021/10/13 | Ampla Technologies Fintech |
Atalaya Capital Management Lender |
250 | |
| 2021/10/14 | Creative Energy Developments Energy |
HSBC Bank Canada and TD Bank Lenders |
53 | Includes $22MM green loan facility To support future low-carbon projects |
| 2021/10/14 | Outdoor Adventure Brands Retail |
Tiger Finance Lender |
8.2 | |
| 2021/10/14 | FinTap Specialty Finance |
Arena Investors Lender |
50 | |
| 2021/10/15 | Azalea Health Health Technology |
CIBC Innovation Banking Lender |
30 | To aid in acquisition of dashboardMD |
| 2021/10/15 | Queen Esther Shipping Limited Shipping |
CIT Lead arranger |
26.5 | |
| 2021/10/18 | High Tide Cannabis |
ATB Financial Lender |
25 | Revolver To finance acquisitions and for working capital and general corporate purposes |
| 2021/10/18 | Interpace Biosciences Life Sciences |
Comercia Bank Lender |
7.5 | Revolver |
| 2021/10/19 | inTEST Industrial Services |
M&T Bank Lender |
35 | $25MM delayed draw term loan/$10MM revolver Replaces previous facility/To fund acquisitions and growth and for working capital and general corporate purposes |
| 2021/10/19 | Axsome Therapeutics Biopharmaceuticals |
Hercules Capital Lender |
300 | Term loan Increase of facility |
| 2021/10/20 | Locus Biosciences Biotechnology |
Hercules Capital Lender |
25 | |
| 2021/10/20 | Humm Kombucha Food & Beverage |
Gerber Finance Lender |
8 | Line of credit To fuel growth and for working capital |
| 2021/10/20 | ePlus Technology |
Wells Fargo Commercial Distribution Finance Admin agent |
475 | $375MM floorplan facility/$100MM revolver |
| 2021/10/20 | Stingray Group Entertainment |
National Bank of Canada, Bank of Montreal, Fédération des Caisses Desjardins Lead arrangers |
442.5 | $375MM revolver/$67.5MM term loan Increase and extension of previous facility |
| 2021/10/20 | Teck Mining |
BMO Co-sustainability structuring agent |
4000 | Sustainability-linked revolver |
| 2021/10/21 | Red River Valley Alliance Infrastructure |
SMBC Admin agent |
642 | To finance construction of flood diversion channel and associated infrastructure |
| 2021/10/21 | Verano Holdings Cannabis |
Chicago Atlantic Advisors Admin agent |
250 | Term loans upsized by $120MM |
| 2021/10/22 | Castle Rock Entertainment Film Production |
CIT Admin agent |
95 | To support relaunch of company |
| 2021/10/22 | Jushi Holdings Cannabis |
SunStream Bancorp Lender |
100 | To fund acquisition of Nature’s Remedy of Massachusetts |
| 2021/10/25 | Mid America Freight Logistics Logistics |
Huntington Business Credit Lender |
10 | To refinance existing indebtedness and for working capital |
| 2021/10/26 | Exagen Autoimmune Testing |
Innovatus Capital Partners Lender |
27.2 | Term loan |
| 2021/10/26 | Accel Entertainment Gaming |
Capital One Admin agent |
900 | $400MM delayed draw term loan/$350MM term loan A/$150MM revolver Upsize of facility |
| 2021/10/26 | Gateway Casinos & Entertainment Gaming |
Fortress Credit, Morgan Stanley Senior Funding Joint lead arrangers |
1250 | Term loan To refinance capital structure and fund cash to balance sheet |
| 2021/10/26 | RH Furniture |
Bank of America Admin agent |
2000 | Term loan For general corporate purposes and to pay the principal amount of outstanding convertible notes that elect early conversion |
| 2021/10/27 | Fair Harbor Apparel |
Gerber Finance Lender |
7 | Line of credit |
| 2021/10/27 | AppLovin Marketing Software |
JPMorgan Chase Joint lead arranger |
1500 | Term loan For general corporate purposes/Lending syndicate includes eight banks |
| 2021/10/28 | Medsphere Healthcare Tech |
Wells Fargo Lender |
50 | |
| 2021/10/29 | Titan International Tires |
BMO Harris Bank Agent |
125 | Revolver Increase of previous facility |
| 2021/10/29 | Shippabo Shipping and Logistics |
Bridge Bank Lender |
10 | Line of credit To support working capital needs and to finance growth |
| 2021/10/29 | QVC Home Shopping |
JPMorgan Chase Admin agent |
3250 | Multi-currency revolver |
| 2021/11/01 | Pipestone Energy Oil & Gas |
BMO and National Bank Financial Co-leaders |
280 | $250MM revolver/$30MM bi-lateral operating facility Increase of previous facility |
| 2021/11/01 | Lear Automotive Technology |
JPMorgan Chase, BofA Securities, Barclays, Citibank, HSBC Lenders |
2000 | Revolver Increase of previous facility |
| 2021/11/02 | MarketWise Investment Research |
HSBC Bank Admin agent |
150 | Revolver To finance acquisitions and for working capital/general corporate purposes |
| 2021/11/02 | Trinity Capital Specialty Finance |
KeyBank Admin agent |
300 | |
| 2021/11/03 | Summit Midstream Energy |
Bank of America Agent |
400 | Revolver To repay previous credit agreeemnt and fund redemption of notes and for general corporate purposes |
| 2021/11/03 | Interpace Biosciences Life Sciences |
BroadOak Lender |
8 | Term loan To repay principal and interest on short-term promissory notes |
| 2021/11/03 | Boston Battery Automotive Batteries |
Crown Partners Arranger |
8 | $5MM revolving LOC/$2.5MM real estate term loan/$500K capex LOC To support growth and fund future acquisitions |
| 2021/11/03 | PRO Unlimited Workforce Management |
CIT Joint lead arranger |
1160 | To facilitate acquisition of Workforce Logiq and for general corporate purposes |
| 2021/11/04 | HRB Brands Consumer Brands |
White Oak Global Advisors Lender |
51.5 | For acquisition of portfolio of brands from Helen of Troy |
| 2021/11/05 | New Day Healthcare Healthcare |
CIT Lead arranger |
55.5 | Senior secured loan, delayed draw term loan and revolving line of credit |
| 2021/11/05 | GameStop Retail |
Wells Fargo Admin agent |
500 | Replaces existing facility |
| 2021/11/08 | Viracta Therapeutics Pharmaceuticals |
Oxford Finance and Silicon Valley Bank Lenders |
50 | Replaces existing facility |
| 2021/11/09 | Nicholas Financial Auto Lending |
Wells Fargo Agent |
175 | |
| 2021/11/09 | Elis Textile, Hygiene and Facility Services |
BNP Paribas Sustainability Coordinator |
1040 | ESG-linked revolver |
| 2021/11/09 | Advent International Private Equity |
JPMorgan Chase Bank Lender |
6660 | Term loan/Part of $9.98B financing To support acquisition of McAfee/JPMorgan is one of 10 lending institutions |
| 2021/11/09 | Leonhardt & Blumberg Container Ships |
CIT Lender |
58 | Term loan and delayed draw components To refinance four container ships |
| 2021/11/10 | PlateletBio Biotechnology |
Oxford Finance Lender |
20 | Term loan For general working capital and to advance development pipeline |
| 2021/11/11 | Theragenics Medical Devices |
Wingspire Capital Lender |
40 | $20MM revolving LOC/$20MM term loan To refinance existing debt and fund working capital and general corporate needs |
| 2021/11/11 | Hercules Capital Specialty Finance |
SMBC Lender |
100 | Multi-currency credit facility |
| 2021/11/11 | Kezar Life Sciences Biotechnology |
Oxford Finance Lender |
50 | Term loan For general growth capital and further advancement of clinical candidates KZR-616 and KZR-261 |
| 2021/11/11 | Procentrix Technology Services |
Citizens Admin agent |
75 | Supported an investment in Procentrix by Macquarie Capital |
| 2021/11/11 | Exiger Technology Services |
Monroe Capital Admin agent |
70 | |
| 2021/11/15 | Ares Commercial Real Estate Real Estate |
City National Bank Lender |
75 | Revolver Increase of existing facility |
| 2021/11/16 | Tecnoglass Manufacturing |
PNC Admin agent |
150 | Increase of existing facility |
| 2021/11/16 | MAG Silver Mining |
BMO Lender |
40 | Revolver For working capital, general corporate purposes and development of mining site in Juanicipio, Mexico |
| 2021/11/16 | iPower Equipment |
JPMorgan Chase Lender |
25 | Revolver wtih $25MM accordion |
| 2021/11/16 | Destination XL Group Retail |
Citizens Admin agent |
125 | Revolver |
| 2021/11/16 | GA Telesis Aviation |
HSBC Bank, Fifth Third Bank Joint lead arrangers |
225 | For general corporate purposes and acquisitions and to fund growth |
| 2021/11/18 | Parts Town Retail |
Citizens Lead arranger |
150 | Revolver To refinance existing debt, support a minority equity investment, fund an acquisition and for working capital |
| 2021/11/19 | The Children’s Place Retail |
Wells Fargo Lender |
400 | $350MM revolver/$50MM term loan Refinances existing facility |
| 2021/11/19 | BridgeBio Pharma Biopharmaceuticals |
Morgan Stanley Placement agent |
750 | To advance pipeline programs, support commercialization and pursue business development |
| 2021/11/19 | Kafene Fintech |
Credit Suisse Lender |
50 | To scale retail footprint and expand delivery of financing platform |
| 2021/11/19 | Kafene Fintech |
Hudson Cove Capital Management Lender |
10 | To scale retail footprint and expand delivery of financing platform |
| 2021/11/22 | Espresso Capital Specialty Finance |
KeyBank Lender |
200 | To further expand lending activities to technology and healthcare companies |
| 2021/11/22 | Merchant Financial Group Specialty Finance |
IDB Bank Admin agent |
400 | Expansion of previous facility |
| 2021/11/22 | Digital Realty Technology |
Bank of America, Citibank Sustainability structuring agents |
3000 | Sustainability-linked revolver Expansion of previous facility |
| 2021/11/22 | Digital Realty Technology |
SMBC Sustainability structuring agent |
290 | Yen-denominated revolver Amendment of previous facility |
| 2021/11/22 | Holley Auto Parts |
Wells Fargo Admin agent |
825 | $600MM term loan/$125MM revolver/$100 delayed draw term loan Refinances previous facility |
| 2021/11/23 | CrossCountry Mortgage Real Estate |
Ares Management Lender |
400 | |
| 2021/11/24 | Stran & Company Marketing |
Salem Five Bank Lender |
7 | Revolving LOC |
| 2021/11/24 | Tupperware Brands Consumer Products |
Wells Fargo Admin agent |
880 | $480MM revolver/$400MM term loan Refinances existing credit facilities |
| 2021/11/29 | Myer Retail |
Gordon Brothers, J.P. Morgan Lenders |
153.6 | To refinance existing facilities and provide liquidity |
| 2021/11/29 | KBR Technology |
Bank of America Admin agent |
162.92 | Term loan For KBR subsidiary |
| 2021/11/30 | TTEC Holdings Technology |
Wells Fargo Securities Left lead arranger |
1500 | Upsize of $300MM |
| 2021/11/30 | Texas Contracting Manufacturing Group Manufacturing |
MidCap Business Credit Lender |
6 | |
| 2021/11/30 | Sun Valley Raisins Agriculture |
BizCap Lender |
15 | Line of credit To finance growth initiatives |
| 2021/11/30 | Air Industries Group Aerospace |
Sterling National Bank Lender |
20 | Revolver incresed by $4MM Sterling is also providing a term loan |
| 2021/12/01 | NMI Holdings Mortgage Insurance |
JPMorgan Chase, Citibank, RBC Capital Markets, Truist Securities Joint lead arrangers |
250 | Revolver Expansion of existing credit facility |
| 2021/12/03 | Boralex Renewable Energy |
BMO Co-sustainability structuring agent |
525 | Sustainability-linked revolver Amendment to previous facility |
| 2021/12/03 | Mersino Management Pumping Services |
Great Rock Capital Lender |
50 | Term loan, revolver and delayed draw term loan Expansion of previous facility |
| 2021/12/06 | Claros Mortgage Trust Real Estate |
JPMorgan Chase Admin agent |
763 | Term loan Repriced |
| 2021/12/07 | WeWork Real Estate |
SoftBank Group Lender |
1250 | Letter of credit facility Maturity date extended to Feb. 9, 2024 |
| 2021/12/07 | Alpha Metallurgical Resources Coal Mining |
Citibank Admin agent |
155 | Revolver Refinances prior facility |
| 2021/12/07 | Celestica Supply Chain Solutions |
Bank of America Admin agent |
965 | $600MM revolver/$365MM term loan Expansion of existing credit facility |
| 2021/12/08 | Mercuria Commodities |
Societe Generale Admin agent |
2200 | |
| 2021/12/08 | Falcone Capital Holdings Transportation |
InterNex Capital Lender |
10 | Revolver |
| 2021/12/08 | Ames Copper Group Copper Production |
Huntington Business Credit Lender |
25 | To finance startup expenses and provide working capital |
| 2021/12/09 | Esports Technologies Gaming Tech |
Columbia Pacific Advisors Lender |
30 | Term loan To acquire assets and operations of Aspire Global |
| 2021/12/09 | USA Compression Partners Natural Gas |
J.P. Morgan Lender |
1600 | Maturity date extended to December 2026 |
| 2021/12/10 | Stonegate Capital Holdings Specialty Finance |
Citizens Lead arranger |
70 | Revolver To support acquisition by SG Credit Partners |
| 2021/12/10 | WideOpenWest Finance Internet/Cable |
Morgan Stanley Senior Funding Lead left arranger |
980 | $730MM term loan/$250MM revolver To refinance existing facility and pay fees and expenses |
| 2021/12/10 | Conecuh Brands Food & Beverage |
Northpoint Commercial Finance Lender |
15 | Revolving LOC To refinance existing indebtedness and support growth |
| 2021/12/10 | CEMEX Building Materials |
Crédit Agricole Lead arranger |
3250 | Includes sustainability-linked financing framework |
| 2021/12/13 | Electrolux Home Appliances |
Citi and SEB Lead arrangers |
1120 | Sustainability-linked revolver |
| 2021/12/13 | Pacira BioSciences Healthcare |
JPMorgan Chase Lead arranger |
375 | Term loan |
| 2021/12/14 | SmartRent Building Automation |
Silicon Valley Bank Admin agent |
75 | Revolver |
| 2021/12/14 | Essent Group Insurance |
JPMorgan Chase, BofA Securities, Royal Bank of Canada Capital Markets Lead arrangers |
825 | Revolver and term loan Increase to previous facility |
| 2021/12/14 | Kiwetinohk Energy Oil & Gas |
BMO, ATB, National Bank of Canada Co-leads |
315 | Revolver Increase to previous facility |
| 2021/12/14 | Darling Ingredients Food & Beverage |
JPMorgan Chase Admin agent |
1900 | Includes $400MM delayed draw term loan Increase to previous facility |
| 2021/12/15 | Promise to Perform Industries Equipment Manufacturing |
Fifth Third Business Capital Lender |
9.8 | To fund acquisitions and for working capital |
| 2021/12/15 | Titan Production Equipment Equipment Manufacturing |
MidCap Business Credit Lender |
9 | |
| 2021/12/15 | Installed Building Products Building Products |
Royal Bank of Canada Lender |
500 | Term loan To refinance previous term loan and for acquisitions and general corporate purposes |
| 2021/12/16 | GT Technologies Manufacturing |
Great Rock Capital Lender |
27.9 | Term loan Refinanced a portion of GTT’s existing debt |
| 2021/12/16 | Resolute Forest Products Paper |
Bank of America Admin agent |
450 | Revolver Maturity reset |
| 2021/12/16 | EzFill Mobile Fueling |
City National Bank of Florida Lender |
16 | Revolving LOC For general corporate purposes |
| 2021/12/16 | Brown Jordan Furniture |
Marathon Asset Management Lender |
155 | First lien and second lien term loan To repay existing loan |
| 2021/12/16 | Bunge Agriculture |
BNP Paribas, Credit Agricole, ING, Natixis, SMBC Lead arrangers |
1750 | Sustainability-linked revolver Refinance of facility |
| 2021/12/16 | Veeco Instruments Tech Manufacturing |
HSBC Bank Admin agent |
150 | Revolver |
| 2021/12/16 | JCPenney Retail |
Wells Fargo and PNC Lenders |
1910 | $1.75B ABL credit facility/$160 term loan To refinance and reduce debt |
| 2021/12/20 | Restaurant Brands International Restaurants |
JPMorgan Chase Admin agent |
1250 | Term loan Increase to previous facility |
| 2021/12/20 | Mogo Fintech |
Fortress Investment Group Lender |
60 | Lowers the effective interest rate and extends maturity |
| 2021/12/20 | Interfor Lumber |
RBC Capital Markets, TD Securities, Wells Fargo Lenders |
387 | Revolver Increase to previous facility |
| 2021/12/20 | NOW Inc. Drilling Equipment |
Wells Fargo Admin agent |
500 | Revolver Amendment to existing facility |
| 2021/12/20 | Russel Metals Metal Processing |
RBC Capital Markets Lender |
450 | Extension to existing facility |
| 2021/12/21 | Black Diamond Group Workspace Rental |
Bank of Nova Scotia and BMO Lenders |
300 | Revolver Renewal of previous facility |
| 2021/12/21 | PRO Unlimited Global Solutions Workforce Management |
Citizens Lender |
900 | $825MM revolver/$75MM FILO To support EQT Private Equity’s acquisition of the company |
| 2021/12/21 | PRO Unlimited Global Solutions Workforce Management |
Citizens Lender |
265 | Upsize to previous facility To support acquisition of Workforce Logiq |
| 2021/12/21 | PRO Unlimited Global Solutions Workforce Management |
Citizens Lender |
1165 | $1.065B revolver/$100MM FILO |
| 2021/12/21 | Oportun Fintech |
WebBank Lender |
150 | Secured by credit card receivables To meet demand and growth of credit card program |
| 2021/12/21 | Ryder Transportation |
BofA Securities and MUFG Bank Lead arrangers |
1400 | Revolver For working capital and other general corporate purposes |
| 2021/12/21 | Hilton Grand Vacations Hospitality |
Bank of America Admin agent |
1000 | Revolver/Increase to previous facility For working capital and general corporate purposes |
| 2021/12/22 | Harte Hanks Marketing |
Texas Capital Bank Lender |
25 | Revolving LOC For working capital, to repay existing debt and to create growth opportunities |
| 2021/12/22 | A-Mark Precious Metals Metals |
CIBC Bank Admin agent |
350 | Replaces previous facility |
| 2021/12/27 | Arcutis Biotherapeutics Biopharmaceuticals |
SLR Capital Partners Lender |
225 | Term loan Matures in January 2027 |
| 2021/12/27 | P10 Private Markets |
JPMorgan Chase and Texas Capital Bank Lenders |
250 | $125MM term loan/$125MM revolver To pay off prior facility and seller's notes and pay transaction-related expenses |
| 2021/12/28 | Dominion Lending Centres Mortgages |
TD Bank Lender |
35 | $20MM term loan/$10MM revolving acquisition credit line/$5MM revolving working capital credit line |
| 2021/12/28 | Aterian Consumer Products |
MidCap Financial Trust Lender |
50 | To repay previous facility |
| 2021/12/28 | OSI Systems Electronics Manufacturing |
Wells Fargo Admin agent |
750 | $600MM revolver/$150MM delayed draw term loan Increase to previous facility |
| 2021/12/29 | Casella Waste Systems Waste Removal |
Bank of America Admin agent |
650 | $350MM term loan/$300MM revolver Replaces prior facility |