Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 10/01/21 through 12/31/21.

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