Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 7/1/22 through 9/30/22. All dollar amounts are in millions.
| DATE | BORROWER | INDUSTRY | LENDER | ROLE | AMOUNT | STRUCTURE | NOTES | SECOND NOTES |
|---|---|---|---|---|---|---|---|---|
| 7/1/2022 | Acutus Medical | Healthcare | Deerfield Management | Lender | $35 | To refinance existing debt | ||
| 7/1/2022 | Consumer Portfolio Services | Specialty Finance | Ares Agent Services | Lender | $200 | $100MM increase | ||
| 7/1/2022 | Chemed | Holding Company | JPMorgan Chase | Admin agent | $550 | $450MM revolver/$100MM term loan | ||
| 7/1/2022 | Ryerson Holding | Metal Distributor | Bank of America | Admin agent | $1,300 | Revolver | ||
| 7/1/2022 | Maple Leaf Foods | Food & Drink | BMO Capital Markets | Sole bookrunner | $2,000 | Sustainability-linked facility | ||
| 7/5/2022 | Performance Shipping | Shipping | Piraeus Bank | Lender | $31.9 | Term loan | To refinance existing facility | |
| 7/6/2022 | Birch Creek Development | Solar Energy | Fundamental Renewables | Lender | $250 | To fund development and construction of solar projects and acquisitions | ||
| 7/6/2022 | Ferroglobe | Metallurgical Products | BMO | Lender | $100 | Revolver | ||
| 7/6/2022 | Ardisam | Sporting Goods | Huntington Business Credit | Lender | $63.2 | To refinance existing indebtedness and provide working capital | ||
| 7/6/2022 | Belcam Beauty | Beauty Products | FrontWell Capital Partners | Lender | $10.5 | Revolver and term loan | For working capital, acquisitions and growth opportunities | |
| 7/7/2022 | Swift Lending | Real Estate | Encina Lender Finance | Lender | $30 | |||
| 7/7/2022 | RefleXion Medical | Healthcare | Oxford Financial | Lender | $125 | For commercialization of RefleXion X1 platform and introduction of RefleXion’s BgRT technology | ||
| 7/7/2022 | Helix Energy Solutions Group | Offshore Energy Services | Bank of America | Admin agent | $100 | |||
| 7/8/2022 | Dollarama | Retail | RBC Capital Markets, CIBC | Co-sustainability structuring agents | $808 | Sustainability-linked loan | ||
| 7/11/2022 | Star Group | Home Energy | JPMorgan Chase | Admin agent | $400 | Revolver | Ability to borrow up to $550MM during heating season from December to April | |
| 7/11/2022 | Virginia Explosives & Drilling Company | Drilling and Blasting Services | MidCap Business Credit | Lender | $17 | |||
| 7/13/2022 | The Carlstar Group | Automotive Products | Carlyle Global Credit | Admin agent | $275 | Hybrid ABL and cash flow senior secured credit facilities | ||
| 7/13/2022 | Nicole Miller | Retail-Apparel | First Eagle Alternative Credit | Lender | $20 | Term loan | To build e-commerce presence and develop strategic relationships | |
| 7/14/2022 | Panhandle Oilfield Services | Oil & Gas | SSG Capital Advisors | Investment banker | $12 | To refinance existing indebtedness and provide additional liquidity | ||
| 7/15/2022 | Greenbrook TMS | Healthcare | Madryn Asset Management | Lender | $75 | $55MM term loan/additional $20MM single draw | $10.1MM used to repay outstanding balance under existing term loan | |
| 7/18/2022 | Theratechnologies | Biopharmaceuticals | Marathon Asset Management | Lender | $100 | Term loan | ||
| 7/18/2022 | Airbase | Spend Management | Goldman Sachs | Lender | $150 | |||
| 7/19/2022 | Fort Amsterdam Capital | Real Estate Lending | Crayhill Capital Management | Lender | $100 | |||
| 7/20/2022 | Scent Beauty | Beauty Products | Gibraltar Business Capital | Lender | $10 | |||
| 7/21/2022 | PlayMonster | Retail-Toys | Ares Commercial Finance | Lender | $40 | Revolver | To refinance existing indebtedness and for working capital | |
| 7/22/2022 | Gritstone bio | Biotechnology | Hercules Capital, Silicon Valley Bank | Lender | $80 | |||
| 7/22/2022 | VoltaGrid | Energy | BMO Capital Markets | Admin agent | $60 | Revolver expandable to $150MM | For capital expenditures, working capital and general corporate purposes | |
| 7/22/2022 | Trecora Resources | Petrochemicals | White Oak Global Advisors | Lender | $130 | Term loan | To consummate a take-private acquisition transaction by Balmoral Funds | |
| 7/25/2022 | Capstone Copper | Copper Production | Canadian Imperial Bank of Commerce | Admin agent | $500 | Revolver with $100MM accordion | ||
| 7/26/2022 | DXP Enterprises | Industrial Distribution | Bank of America | Agent | $135 | Revolver | ||
| 7/28/2022 | Kenda | Tires | Huntington Business Credit | Lender | $35 | To refinance existing indebtedness and provide working capital | ||
| 7/29/2022 | Converge Technology Solutions | Cloud Solutions | J.P. Morgan, Canadian Imperial Bank of Commerce | Joint lead arrangers | $500 | Revolver | Features accordion of $100MM | |
| 8/2/2022 | Marathon Digital Holdings | Mining | Silvergate Bank | Lender | $100 | Term loan | Marathon also refinanced $100MM revolver | |
| 8/2/2022 | MISTRAS Group | Asset Protection | JPMorgan Chase | Lender | $315 | $190MM revolver/$125MM term loan | ||
| 8/2/2022 | Concrete Pumping Holdings | Waste Management Services | JPMorgan Chase | Lender | $160 | Facility increased by $35MM | ||
| 8/2/2022 | Eos Energy Enterprises | Energy Storage | Atlas Credit Partners | Lender | $85 | Term loan | For manufacturing capacity expansion, development of next generation energy storage systems and general corporate purposes | |
| 8/3/2022 | PS Energy Group | Energy | Ares Commercial Finance | Lender | $15 | Revolver | To refinance existing indebtedness and for ongoing working capital | |
| 8/4/2022 | 8×8 | Cloud Communications | WSFS | Lender | $250 | Term loan | To fund the cash portion of an exchange of the company’s convertible notes and repurchase company stock | |
| 8/4/2022 | FreshBooks | Accounting Software | BMO, JP Morgan | Lender | $100 | Included uncommitted $25MM accordion | ||
| 8/4/2022 | MeiraGTx | Gene Therapy | Perceptive Advisors | Lender | $100 | Term loan | For development of product candidates, preclinical programs, technology platforms and general corporate purposes | |
| 8/4/2022 | Greenbrier Companies | Equipment Manufacturing | Bank of America | Admin agent | $150 | Term loan | To finance leasing fleet | |
| 8/4/2022 | EliseAI | Technology | Bridge Bank | Lender | $15 | Recurring revenue line of credit | ||
| 8/5/2022 | Alliance Entertainment | Media | Bank of America | Lender | $225 | Expanded from $175MM | ||
| 8/5/2022 | Altisource Asset Management | Alternative lending | Flagstar Bank | Lender | $50 | Line of credit | ||
| 8/5/2022 | LiveOne | Music Platform | East West Bank | Lender | $7 | Revolver | Extended to 2024 | |
| 8/5/2022 | Quisitive Technology Solutions | Payment Solutions | BMO | Lender | $9.5 | Term loan | To fund earn-out obligations on previously completed acquisitions and for general corporate purposes | |
| 8/8/2022 | Direct Digital Holdings | Marketing Technology | Lafayette Square | Lender | $26 | Upsize to facility | ||
| 8/8/2022 | Hersha Hospitality Trust | Hospitality | Citibank | Admin agent | $500 | $400MM term loan/$100MM revolver | ||
| 8/8/2022 | Eos Energy Enterprises | Energy Storage | Atlas Credit Partners | Lender | $94.7 | Term loan upsize | For manufacturing capacity expansion, development of next generation energy storage systems and general corporate purposes | |
| 8/9/2022 | Vista Outdoor | Brand Management | Capital One | Admin agent | $600 | Revolver | To support acquisition of Fox Racing | |
| 8/9/2022 | Vista Outdoor | Brand Management | JPMorgan Chase | Admin agent | $350 | Term loan | To support acquisition of Fox Racing | |
| 8/9/2022 | CBRE Group | Real Estate | Wells Fargo Securities | Joint lead arranger | $3,500 | Revolver | Includes incentives linked to achieving certain sustainability goals | |
| 8/9/2022 | Radiant Logistics | Transportation Services | Bank of America | Admin agent | $200 | Revolver | ||
| 8/9/2022 | Tattooed Chef | Food & Drink | UMB Bank | Lender | $40 | Revolver upsize | For general corporate purposes | |
| 8/10/2022 | Signal Hound | Radio Equipment | Columbia Pacific Advisors | Lender | $17 | Term loan | Support acquisition by Bridgehouse Capital | |
| 8/10/2022 | Broadwind | Manufacturing Services | Wells Fargo | Lender | $35 | Revolver | For general corporate purposes, including strategic growth opportunities | |
| 8/10/2022 | Broadwind | Manufacturing Services | Wells Fargo | Lender | $7.5 | Term loan | For general corporate purposes, including strategic growth opportunities | |
| 8/10/2022 | MarineMax | Recreational Boats | M&T Bank | Admin agent | $1,350 | $750MM floorplan LOC/$400MM delayed-draw term loan/$100MM revolver/$100MM delayed draw mortgage facility | To finance acquisition of IGY, fund purchase of marine product inventory and provide financial capacity | |
| 8/11/2022 | Aziyo Biologics | Pharmaceuticals | SWK Holdings | Lender | $25 | $21MM term loan and additional $4MM term loan | ||
| 8/11/2022 | Inseego | Device-to-Cloud Solutions | Siena Lending Group | Lender | $50 | |||
| 8/15/2022 | Oryx Stainless Group | Steel | HSBC Germany | Mandated lead arranger | $127.5 | Refinance of previous facility | ||
| 8/15/2022 | Precision Marshall | Manufacturing | Fifth Third Business Capital | Lender | $43 | Upsize to facility | ||
| 8/16/2022 | ADC Therapeutics | Biotechnology | Owl Rock, Oaktree Capital Management | Lender | $175 | Term loan | ||
| 8/16/2022 | Quipt Home Medical | Medical Tech | CIT | Lender | $80 | $55MM delayed-draw term loan/$20MM revolver/$5MM term loan | To finance future acquisitions and for general working capital purposes | |
| 8/16/2022 | atai Life Sciences | Biopharmaceuticals | Hercules Capital | Lender | $175 | Term loan | ||
| 8/16/2022 | Sabre Corporation | Technology | Bank of America | Admin agent | $675 | Term loan | For refinancing | |
| 8/17/2022 | G.P. De Silva Spices | Food & Drink | Huntington Business Credit | Lender | $13 | To refinance indebtedness and for working capital | ||
| 8/17/2022 | Amware Fulfillment | Third-Party Logistics | Gibraltar Business Capital | Lender | $10 | |||
| 8/17/2022 | Prime Group | Self Storage | Slate Asset Management | Lender | $147 | |||
| 8/17/2022 | Plainville Farms | Food & Drink | Gordon Brothers | Lender | $12 | Term loan | For working capital and to support increased demand | |
| 8/18/2022 | Wabtec | Transportation Solutions | PNC | Admin agent | $1,500 | Revolver upsize | ||
| 8/18/2022 | Wabtec | Transportation Solutions | PNC | Admin agent | $250 | Delayed-draw term loan | ||
| 8/18/2022 | Saks | Retail-Apparel | Bank of America | Lender | $450 | Revolver upsize | ||
| 8/18/2022 | Saks | Retail-Apparel | Pathlight Capital | Admin agent | $175 | Term loan upsize | ||
| 8/19/2022 | Torex Gold Resources | Gold Production | BMO | Lender | $250 | $150MM revolver/$100MM term loan | ||
| 8/19/2022 | Gran Tierra Energy | Oil & Gas | Trafigura | Lender | $150 | |||
| 8/19/2022 | Benefitfocus | Admin Tech | JPMorgan Chase | Admin agent | $140 | $125MM delayed-draw term loan/$15MM revolver | ||
| 8/19/2022 | Puraglobe Syntainics | Motor Oil | Fifth Third Business Capital | Lender | $15 | Capex and revolving credit facility | ||
| 8/22/2022 | High Tide | Cannabis | connectFirst Credit Union | Lender | $19 | To fund growth and for working capital and M&A activities | ||
| 8/23/2022 | Phoenix Tower International | Wireless Infrastructure | Scotiabank | Lead arranger | $2,000 | $1.4MM term loan/$540MM delayed-draw term loan/$56MM revolver | ||
| 8/23/2022 | AmeriTex Holdings | Concrete Products | U.S. Bank | Lender | $380 | |||
| 8/23/2022 | Blackline Safety Corp. | Safety Devices | ATB Financial | Lender | $15 | |||
| 8/23/2022 | Charles River Associates | Management Consulting Services | Bank of America | Lender | $250 | Revolver | To repay outstanding amounts under existing facility and for working capital and general corporate purposes | |
| 8/24/2022 | Mol-Son | Precision Tooling | Huntington Business Credit | Lender | $53 | To refinance existing indebtedness and provide working capital | ||
| 8/24/2022 | DeepIntent | Advertising Tech | SLR Digital Finance | Lender | $40 | Revolver | ||
| 8/24/2022 | NWI Nashville | Airplane Parts | Great Rock Capital | Lender | $25 | Revolver | To refinance a portion of the company’s existing debt and provide flexible capital | |
| 8/24/2022 | Alex and Ani | Retail-Jewelry | Second Avenue Capital Partners | Lender | $17.5 | To support working capital needs and further develop business operations following corporate restructuring | ||
| 8/25/2022 | PDS Biotechnology | Immunotherapy | Horizon Technology Finance | Lender | $35 | Term loan | To support clinical development of PDS0101 and other product candidates and for general working capital | |
| 8/29/2022 | good natured Products | Plant-Based Products | Wells Fargo | Lender | $55 | $30MM revolver/$25MM uncommitted revolver | ||
| 8/30/2022 | Monolith Brands Group | Consumer Product Investment | Ares Commercial Finance | Lender | $30 | To refinance existing indebtedness, provide ongoing working capital and help fund future acquisitions | ||
| 8/30/2022 | Schweizer | Helicopter Manufacturing | BizCap | Lender | $20 | |||
| 8/30/2022 | Plum Investments | Financial Tech | Garrington Capital | Lender | $7.4 | Term loan | To complete Plum’s planned restructuring and consolidation of six existing entities under the Plum umbrella | |
| 8/31/2022 | FOX Rehabilitation | Healthcare | CIT | Lender | $172.3 | Increase of $50MM | ||
| 8/31/2022 | Alladapt Immunotherapeutics | Biopharmaceuticals | Hercules Capital | Lender | $50 | Term loan | For development of ADP101 and completion of manufacturing facility | |
| 8/31/2022 | TimePayment | Financial Tech | BMO Harris Bank | Lead agent | $375 | Revolver | Includes $50MM accordion | |
| 8/31/2022 | Sunbelt Modular | Manufacturing | Huntington Business Credit | Lender | $35 | To finance acquisition and provide working capital | ||
| 9/1/2022 | DAVIDsTEA | Food & Drink | Bank of Nova Scotia | Lender | $11.4 | Revolver | ||
| 9/1/2022 | Provention Bio | Biopharmaceuticals | Hercules Capital | Lender | $125 | Term loan | ||
| 9/1/2022 | Wilson Creek Energy | Mining | LSQ | Lender | $15 | |||
| 9/2/2022 | Cascadia Healthcare | Healthcare | White Oak Healthcare Finance | Lender | $42.3 | To fund growth and for working | ||
| 9/2/2022 | Bed Bath & Beyond | Retail | J.P. Morgan | Lender | $1,130 | Revolver | To drive traffic and sales, gain back customer relevance and rebalance inventory position | |
| 9/2/2022 | Bed Bath & Beyond | Retail | Sixth Street Partners | Lender | $375 | FILO | To drive traffic and sales, gain back customer relevance and rebalance inventory position | |
| 9/6/2022 | Wesdome Gold Mines | Mining | National Bank Financial | Lender | $80 | Revolver | Expandable to $150MM upon declaration of commercial production at Kiena site in Quebec | |
| 9/8/2022 | Inseego | Wireless Products | Siena Lending Group | Lender | $50 | Revolver | ||
| 9/9/2022 | Blue Sky Specialty Pharmacy | Healthcare | CIT | Lender | $10 | |||
| 9/9/2022 | Pathway Homes | Real Estate | Bank of America | Admin agent | $225 | |||
| 9/9/2022 | PWCC Marketplace | Trading Cards | WhiteHawk Capital Partners | Lead arranger | $175 | To create further liquidity for commercial financing business | ||
| 9/9/2022 | Ash NYC | Interior Design | Pitney Bowes Financial Services | Lender | $5.2 | $3MM LOC/$2.2MM term loan | To augment primary source of capital | |
| 9/9/2022 | Digital Terrain | IT Services | Pitney Bowes Financial Services | Lender | $5 | $2.5MM revolver/$2.5MM term loan | To augment primary source of capital | |
| 9/12/2022 | Sports Endeavors | Sporting Goods | Huntington Business Credit | Lender | $35 | To finance acquisition by Seawall Capital and for working capital | ||
| 9/13/2022 | EMCORE | Technology | Wingspire Capital | Lender | $46 | To facilitate acquisition from KVH Industries | ||
| 9/15/2022 | CherCo | Energy Infrastructure | WhiteHawk Capital Partners | Lender | $55 | For acquisitions of assets and service contracts and to provide ongoing liquidity | ||
| 9/15/2022 | TalentBridge | Staffing | eCapital | Lender | $15 | Revolver | ||
| 9/16/2022 | Everlane | Retail-Apparel | CIT Northbridge Credit | Lender | $65 | Revolver | ||
| 9/16/2022 | Fundamental Renewables | Renewable Energy Financing | Delaware Life Insurance | Lender | $400 | To support long-term growth | ||
| 9/16/2022 | BRT Apartments | Real Estate | Valley National Bank | Lender | $60 | For the acquisition and repayment of mortgage debt on multi-family properties | ||
| 9/16/2022 | Greenbacker Renewable Energy Company | Renewable Energy | KeyBank | Admin agent | $182.6 | To build two of the biggest solar projects in company history | ||
| 9/19/2022 | Gold Royalty | Precious Metals | BMO | Lender | $25 | Revolver extension | For general corporate purposes, acquisitions and investments | |
| 9/19/2022 | Crosslake Technologies | Technology Advisory | Citizens | Admin agent | $50 | $25MM revolver/$25MM term loan | To refinance debt and fund acquisitions | |
| 9/20/2022 | Quipt Home Medical | Medical Equipment | CIT | Lender | $110 | Delayed draw term loan and revolver | To refinance existing debt and provide capital for future growth | |
| 9/20/2022 | Whitestone REIT | Real Estate Investing | BMO Capital Markets | Admin agent | $515 | $265MM term loan/$250MM revolver | Amendment and extension | |
| 9/22/2022 | Nexus Renewables | Renewable Energy | Scale Microgrid Solutions | Lender | $5 | To advance 100+ MW of late-stage distribution-scale solar and energy storage projects | ||
| 9/22/2022 | Academy Bus | Transportation | Gordon Brothers | Lender | $72.5 | For debt refinancing and to support growth | ||
| 9/23/2022 | Itafos | Fertilizer | RBC Capital Markets | Lead arranger | $200 | $85MM term loan/$80MM revolver/$35MM LOC | To refinance the company’s indebtedness | |
| 9/26/2022 | Enento Group | Information Services | OP Corporate Bank, Danske Bank, Nordea Bank | Lead arrangers | $173.6 | Includes $28.9MM revolver | ||
| 9/26/2022 | Spectrum Pharmaceuticals | Pharmaceuticals | SLR Capital Partners | Lender | $65 | Term loan | To optimize the commercial launch of ROLVEDON injection | |
| 9/27/2022 | Nivagen Pharmaceuticals | Pharmaceuticals | BizCap | Lender | $45 | $25MM term loan/$20MM revolver | To build out manufacturing R&D facility | |
| 9/27/2022 | inTEST | Manufacturing Testing Services | M&T Bank | Lender | $50.5 | Delayed draw term loan | Increase to facility | |
| 9/27/2022 | GreenFirst Forest Products | Forestry | BMO | Lender | $140 | $125MM revolver/$15MM term loan | Replaces previous facility | |
| 9/28/2022 | Gamida Cell | Cell Therapies | Highbridge Capital Management | Lender | $25 | Convertible term loan | ||
| 9/28/2022 | Dynasty Financial Partners | Financial Services | Royal Bank of Canada | Admin agent | $50 | Revolver | ||
| 9/29/2022 | Centre Lane Partners | Investing | BMO | Admin agent | $250 | Revolver | To support merger of portfolio company Hollander Sleep & Décor with Keeco | |
| 9/29/2022 | Gogoro | Technology | Mega International Commercial Bank | Lead arranger | $337 | |||
| 9/30/2022 | Six One Commodities | Natural Gas | ING Capital, Wells Fargo, MUFG, Société Générale | Lead arrangers | $745 | Revolver with $255MM accordion | To support future growth | |
| 9/30/2022 | Medexus Pharmaceuticals | Pharmaceuticals | MidCap Funding IV Trust | Agent | $25 | Revolver increase of $5MM | ||
| 9/30/2022 | Sitetracker | Software | Bridge Bank | Lender | $30 | Revolver | Part of $96MM financing package |