Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 4/1/23 through 6/30/23. All dollar amounts are in millions.
| DATE | BORROWER | INDUSTRY | LENDER | ROLE | AMOUNT | STRUCTURE | NOTES | SECOND NOTES |
|---|---|---|---|---|---|---|---|---|
| 4/4/2023 | CrossAmerica | Retail | Citizens Bank | Lender | $925 | Revolving Credit Facility | Entered into an ameded and restated five year credit facility agreement with a sydicate of lenders led by Citizens Bank. | Amended facility provides borrowing capacity up to $925 million |
| 4/5/2023 | Ignitis Grupe | Energy | Citibank | Lender | $109.4 | Credit Facility | ||
| 4/5/2023 | Modus Subsea Services | Robotics | Gordon Brothers | Lender | $6.2 | Term Loan | ||
| 4/13/2023 | Collectors Holdings | Sports Memorabilia | JP Morgan and Keybank Capital Markets | Lender | $125 | Revolving line of credt | ||
| 4/14/2023 | StratCap Wireless | Financial Services | Sunflower Bank | Lender | $35 | Credit Facility | Already completed the acquisition of more than $35 million and added an additional $35 million | |
| 4/17/2023 | Quinn Residences | Single Home Communities | JP Morgan and Keybank Capital Markets | Lender | $500 | Revolving Credit Facility | ||
| 4/18/2023 | Optalis Health & Rehabilitation | Healthcare | Siena Healthcare | Lender | $15 | Working Capital Facitlity | Provided line of credit for Optalis's acquisition of a new SNF group | |
| 4/19/2023 | 36th Street Capital | Equipment Financing | Capital One | Agent | $110 | Revolving Credit Facility | 36th street extended and upsized its senior secured revolving credit facitily to $280 million, marking an increase of $110 million. | |
| 4/19/2023 | Corridor Group | Healthcare | Brightwood Capital | Agent | $75 | Senior Credit Facility | Expanded the Corridor Groups existing senior secured credit facitlity to more than $75 million to support the companys acquisition to Comprehensive HEalthcare Solutions | |
| 4/19/2023 | Grove Collaborative | Consumer Products Company | Siena Lending | Agent | $35 | Revolving Credit | ||
| 4/20/2023 | Legendary Entertainment | Mass Media Production | JP Morgan | Agent | $800 | Credit Facility | ||
| 4/21/2023 | Habi | Residential Technology | Victory Park Capital | Agent | $100 | Credit Facility | ||
| 4/24/2023 | Medstream Anesthesia Solutions | Healthcare | Texas Capital Bank | Agent | $125 | Senior Secured Debt Facility | Medstream Anesthia Solutions joined National Partners in Healthcare | |
| 4/25/2023 | Convergent Dental | Healthcare | Trinity Capital | Agent | $40 | Credit Facility | Convergent drew $20 million at closing and has option to draw and additional $20 million | |
| 4/25/2023 | Channel | Equipment Financing | Truist | Agent | $75 | Credit Facility | Provides financing for both working capital and equipment finance originations | |
| 4/27/2023 | Firebirds Wood Fired Grill | Restaurant | Comvest | Agent | $185 | Senior Credit Facility | ||
| 4/28/2023 | FitLife Brands | Nutritional Supplements | First Citizens Bank | Agent | $16 | ? | ||
| 4/28/2023 | Flux Power | Lithium ion energy solutions | First Citizens Bank | Agent | $14 | Credit Facility | renewed the available credit under its existing $14 million facility with First Citizens | |
| 4/28/23 | Ninepoint Partners | Alternative Investments | BMO | Agents | $100 | Revolving Credit Facility | $50 million committed and an additional $50 million available through the accordian feature | |
| 5/2/2023 | FibroGen | Healthcare | Morgan Stanley | Lender | $150 | Term Loan | Non-dilutive loan facility with investment funds managed by Morgan Stanley | |
| 5/2/2023 | GTT Communications | Networking Services | Wingspire Captial | Lender | $30 | Senior Secured Revolving Credit Faciility | Using the revolver to support working capital requirements for the company | |
| 5/8/2023 | ABD Group (Village Fertility Pharmacy) | Medical | MidCap Financial | Lender | $20 | Senior Revolving Credit Facility | Includes an option to increase the total facility size up to $35 million | |
| 5/10/2023 | Tellus Equipment Solutions | Equipment Dealer | Truist | Agent | $115 | Credit Facility | Truist is the lead arranger and sole bookrunner for the facility | |
| 5/11/2023 | TideRock | B2B Businesses | California Bank & Truist, CIBC and Manufacturers Bank | Lender | $100 | Revolving Loan Facility | ||
| 5/11/2023 | MPOWER Financing | Financial Technology | Goldman Sachs | Lender | $150 | Revolving Asset Backed Warehouse Facility | ||
| 5/12/2023 | Daktronics | Technology | JPMorgan | Lender | $75 | Senior Credit Facility | ||
| 5/15/2023 | UMH Properties | RealEstate | FirstBank | Lender | $25 | Term Loan | Term loan has a five year term with a fixed rate. | |
| 5/16/2023 | Above Lending | Consumer Loans | Comvest Credit Partners | Lender | $220 | Credit Facility | ||
| 5/17/2023 | Cardless | Technology | i80 Group | Lender | $75 | Credit Facility | The deal is a warehouse facility | |
| 5/19/2023 | Airspan Networks | Telecommunications | Fortress Investment Group | Lender | $25 | Term Loan | It is a delayed draw term loan | |
| 5/19/2023 | Tronair | Parts and Equipment | CIT Northbridge | Lender | $40 | Credit Facility | ||
| 5/22/2023 | Huhtamaki Oyj | Packaging Solutions | OP Corporate Bank | Lender | $135 | Bilateral Term Loan Facility | ||
| 5/23/2023 | Tubular Synergy Group | Marketing and Supply Chain Services Distributor | CIT Northbridge | Lender | $45 | Credit Facility | Will refinance and upsize a secured credit facility | |
| 5/24/2023 | National Railway Equipment | Equipment | Siena | Lender | $25 | Credit Facility | ||
| 5/24/2023 | Climb Global Solutions | IT Channel Company | JP Morgan | Lender | $50 | Credit Facility | Five year, $50 million secured revoloving credit facility | |
| 5/26/2023 | SafelyYou | Technology | Horizon Technology | Lender | $30 | Venture Loan Facility | $10 million of the facility initially funded | |
| 5/31/2023 | TTM Technologies | Technology | J.P. Morgan | Agent | $350 | Senior Secured Loan | $350 million senior secured loan and a US asset based revolving credit facility with comitted borrowing capacity of $150 million. | |
| 6/1/2023 | PostWorks | Digital Motion Picture Provider | Legacy Corporate Lending | Lender | $7 | Credit Facility | ||
| 6/1/2023 | Ranger Energy Services | Energy | Wells Fargo | Lender and Agent | $75 | Asset based Lending Faciility | ||
| 6/8/2023 | Precision Optics | Medical | Main Street Bank | Lender | $750 | Term Loan | Line of credit was expanded ti $1.25 million from $500,000 | |
| 6/9/2023 | Rubicon Technologies | Technology | MidCap Financial and Avenue Sustainable Solutions | Lender | $165 | Term Loan | $75 term loan and revolving credit line of up to $90 million | |
| 6/9/2023 | ARM Energy Services | Energy | Rabobank | Agent and Arranger | $110 | Credit Facility | ||
| 6/9/2023 | Merit Medical Systems | Medical | Wells Fargo | Agent | $700 | Credit Facility | $700 credit facility and $150 term loan | |
| 6/14/2023 | Corcentric | Software | Bank of America and JPMorgan Chase TCW | Lender | $315 | Credit Facility | $250 million senior secured asset based revolver from BOA and JPMorgan Chase and a $65 million term loan from TCW Private Credit Group | |
| 6/15/2023 | Andrew Peller Limited | Beverage | Bank of Montreal | Agent and Arranger | $275 | Credit Facility | Royal Bank of Canada is also co-lead arranger | |
| 6/19/2023 | SFL | Ship owning | BNP Paribas and CaixBank | Sustainability Coordinators | $911.80 | Credit Facility | The five year facility partially replaces existing lines and enhances the groups liquidity | |
| 6/21/2023 | Invacare Holdings | Medical Equipment | White Oak ABL and White Oak Commercial Finace | Lender | $40 | Credit Facility | ||
| 6/22/2023 | PFSweb | E-commerce order fufillment | Texas Capital Bank | Lender | $25 | Asset based Lending Faciility | ||
| 6/22/2023 | The Eastern Company | Engineering Solutions | TD Bank | Arranger | $90 | Credit Facility | ||
| 6/23/2023 | Slide Insurance | Insurance | Regions Bank | Lender | $35 | Credit Facility | ||
| 6/26/2023 | Helix Energy Solutions | Energy | Bank of America | Lender | $120 | ABL Facility | It is an amendment of its existing asset-based, incresing the borrowing base and committments of the lenders from $100 million to $120 | |
| 6/28/2023 | EQ Holdings | Investements | MidCap Business | Lender | $12 | ABL Facility | ||
| 6/28/2023 | Intersect Power | Energy Platform | Deutsche Bank, Nomura Securities and Santander | Lender | $800 | Credit Facility | ||
| 6/29/2023 | Designer Brands | Footwear | Pathlight Capital | Agent | $135 | Senior Secured Term Facility | ||
| 7/6/2023 | COMPASS PAthways | Biotech | Hercules Capital | Lender | $50 | Term Loan Facility | ||
| 7/6/2023 | FINN | Auto Subscription | Avellinia Capital | Lender | $27.2 | Asset based Lending Faciility | This facility complements FINN's existing asset-backed securitization program, increasing the advance rate from 95% to 100%. | |
| 7/7/2023 | Myriad Genetics | Genetic Testing | JP Morgan | Lender | $90 | Asset based Credit Faciility | JPMorgan Chase Bank is administrative agent and issuing bank. | |
| 7/7/2023 | Service Properties Trust | RealEstate | Wells Fargo, PNC Capital, and BMO Harris Bank | Lender and Arrangers | $650 | Credit Facility | ||
| 7/7/2023 | First Solar | Solar Panels | JP Morgan | Arranger and Agent | $1,000 | Credit Facility | Facility includes up to $250 million and is available for the issuance of credit. | |
| 7/10/2023 | IGC Pharma | Pharmaceutical | O-Bank | Lender | $12 | Revolving Line of credt | ||
| 7/10/2023 | Bausch Receivables | Healthcare | KKR | Lender | $600 | Financing Facility | ||
| 7/11/2023 | Nutritional | Siena Lending Group | Lender | $35 | Revolving Credit Facility | Facility used to refinance Nutritionals existing senior debt and support its working capital needs. | ||
| 7/12/2023 | Aspen Power | Distributed Generation Platform | JP Morgan and First Citizens | Lender | $90 | $70 million credit facility with JP Morgan and $20 million equipment supply loan with First Citizens Bank | ||
| 7/12/2023 | Pilot Wave Holdings | Technology | Aequum Capital | Lender | $6 | Credit Facility | ||
| 7/12/2023 | Madison-Kipp Corporation | Aluminum Supplier | Great Rock Capital | Lender | $23.80 | Senior Secured Term Facility | ||
| 7/12/2023 | Majestic Steel | Steel Products | White Oak ABL, White Oak Commercial Finance, and White Oak Global Advisors | Lender | $287.50 | Credit Facility | ||
| 7/14/2023 | Skydance Media | Entertainment | JP Morgan | Lender | $1,000 | Credit Facility | ||
| 7/14/2023 | Direct Digital Holdings | Advertising and Marketing Technology | East West Bank | Lender | $5 | Credit Facility | ||
| 7/14/2023 | Henry Schein | Healthcare Solutions | JP Henry | Lender | $750 | Credit Facility | Has a maturity date on July 2026 | |
| 7/17/2023 | Intelligent Transportation Services | Transportation Systems | nFusion Capital | Lender | $20 | Asset-based Facility | ||
| 7/18/2023 | Express Funeral Funding | Financial Institution | Huntington Business Credit | Agent | $70 | Credit Facility | Proceeds of the facility to refinance the existing debt |