Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 7/1/23 through 9/30/23. All dollar amounts are in millions.
| DATE | BORROWER | INDUSTRY | LENDER | ROLE | AMOUNT | STRUCTURE | NOTES | SECOND NOTES |
|---|---|---|---|---|---|---|---|---|
| 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 | |
| 7/18/2023 | New Regency | Entertainment | Carlyle | Lender | $175 | Asset Backed Term | ||
| 7/20/23 | Elevate Services | Software | Runway Growth | Lender | $40 | Senior Secured Term Loan | ||
| 7/21/2023 | Howard-Sloan Search | Hire Staffing | Access Capital | Lender | $5 | Credit Facility | ||
| 7/21/2023 | Rayonier Advanced Materials (RYAM) | Cellulose Specialties | Oaktree Capital Management | Lender | $250 | Term Loan Facility | ||
| 7/25/2023 | Leadpoint Business Services | Workforce Solutions | Cambridge Savings Bank | Lender | $10 | Revolving line of credt | ||
| 7/26/2023 | Okinus | Bation Management | Agent | $100 | Senior Debt Investment | $40 million with accordians up to $100 million | ||
| 7/26/2023 | SMG Facilities | Transportation | Great Rock Capital | Agent | $31.70 | Term Loan Facility | ||
| 7/27/2023 | Performance Energy Services | Energy Services Construction | nFusion Capital | Lender | $4 | Asset-based Facility | ||
| 7/28/2023 | ChargePoint | Electric Vehicle Charging Network | JPMorgan | Agent and Arranger | $150 | Credit Facility | Revolving Credit Facility | |
| 7/28/2023 | Harmony Biosciences | Medical | JPMorgan | Agent and Arranger | $185 | Term Loan Facility | ||
| 8/3/2023 | Franklin Baker | Coconut Products | Legacy Corporate | Lender | $10 | Credit Facility | ||
| 8/3/2023 | Lottery.com | UCIL | Lender | $50 | Credit Facility | Initial loan of $1 million along with additional credit facility of up to $49 million. | ||
| 8/4/2023 | Hallador Energy | Energy | PNC Bank | Lender | $140 | Credit Facility | Extends the terms of agreeement through 2026 | |
| 8/4/2023 | X4 Pharmaceuticals | Pharmaceuticals | Hercules Capital | Lender | $115 | Loan Facility | The company also announced that it drew down 22.5 million upon the transaction's closing | |
| 8/4/2023 | Flux Power Holdings | Lithium Ion Energy Storage | Gibraltar Business Capital | Lender | $15 | Credit Facility | ||
| 8/7/2023 | Auramet | Precious Metals Merchant | Macquarie Bank | Agent and Arranger | $275 | Credit Facility | $275 million syndicated revolving credit faciltiy. Macquarie acted as lead arranger. bookrunner, and agent for the facitlity, which was oversubscribed. | |
| 8/10/2023 | SumUp | Financial Technology | Victory Park Capital | Lender | $100 | Credit Facility | ||
| 8/10/2023 | Haversine Funding | Finance | Horizon Bank | Lender | $45 | Credit Facility | ||
| 8/16/2023 | Modo Labs | Medical | SG Credit Partners | Lender | $8 | Credit Facility | ||
| 8/17/2023 | OneBlinc | Financial Technology | Clear Haven | Lender | $100 | Credit Facility | ||
| 8/17/2023 | ThirdLove | Apparel | Second Avenue Capital | Lender | $12 | Revolving Credit Facility | ||
| 8/18/2023 | The Liberty Company Insurance Brokers | Insurance | JP Morgan Agents | Agent | $340 | Credit Facility | Credit facility, term loan, and delayed draw term loan | |
| 8/21/2023 | Sprout Social | Software | Mitsubishi UFJ Financial Group | Agent | $100 | Credit Facility | ||
| 8/21/2023 | Greenbacker Renewable Energy Company | Energy | Wells Fargo | Agent and Arranger | $75 | Warehouse Facility | ||
| 8/23/2023 | Beyond Finance | Debt Resolution Services | Comvest Credit Partners | Agent | $635 | Credit Facility | ||
| 8/23/2023 | Meitheal Pharmaceuticals | Pharmaceuticals | JP Morgan | Lender | $35 | Credit Facility | Senior secured revolving credit agreement | |
| 8/23/2023 | Delphinus Medical Technologies | Medical Imaging | Trinity Capital | Lender | $12 | Growth Capital | ||
| 8/24/2023 | Alex Lee | Wholesale Food Distribution | First Citizens Bank | Arranger and Agent | $400 | Credit Facility | ||
| 8/24/2023 | E.R. Wagner | Manufacturing | MidCap Business Credit | Lender | $16 | Asset based Credit Faciility | ||
| 8/25/2023 | Ameresco | Energy Efficiency | HASI | Lender | $300 | Secured Loan Facility | ||
| 8/25/2023 | Cushman & Wakefield | Real Estate Services | JP Morgan | Lender | $1,000 | Term Loan Facility | JP Morgan is the administrative and collateral agent for the facility | |
| 8/28/2023 | Black Rifle Coffee Company | Coffee | WhiteHawk Capital Partners | Lender | $56 | Credit Facility | ||
| 8/29/2023 | Lion Equity Partners | Private Equity Firm | Gibralter Business Capital | Lender | $26.40 | Senior Credit Faciility | Supporting its acquisition of Country Life, which operates a portfolio of brands in the natural supplements, sports nutrition and personal care markets | |
| 9/6/2023 | Olema Pharmaceuticals | Pharmaceuticals | First Citizen's Silicon Valley Banks | Lender | $50 | Credit Facility | Silicon Bank is a division of First Citizens Bank | |
| 9/6/2023 | Aviation Capital Group | Aircraft Asset Manager | BNP Paribas and Societe Generale | Lender | $500 | Credit Facility | ||
| 9/6/2023 | Prime Healthcare Services | Healthcare | Royal Bank of Canada | Arranger and Agent | $425 | Revolving Credit Facility | Due to strong lender support, the credit facility is expected to be upsized to $450 million in early September | |
| 9/8/2023 | Capteris | Equipment Finance | Truist and Bank of America | Lender | $350 | Credit Facilty | Truist is serving as the adminisrative agent and BOA is also partnering with Capteris on the facility | |
| 9/12/2023 | Senseonics Holdings | Medical Technology | Helcules Capital | Lender | $50 | Loan Facility | ||
| 9/12/2023 | SEACOR Marine Holdings | Transport Solutions | EnTrust Global | Lender | $122 | Senior Secured Term Loan | ||
| 9/13/2023 | Sharper Image | Retail | Siena Lending Group | Lender | $37 | Revolving Credit Facility | Refinanced existing debt and support the companys working capital needs | |
| 9/14/2023 | Unlock Technologies and Saluda Grade | Home Equity Investment and Alternative Real Estate | Texas Capital Bank | Lender | $100 | Credit Facility | ||
| 9/14/2023 | Allstar Marketing Group | Product Development and Marketing | Second Avenue Capital | Lender | $50 | Credit Facility | Second Avenue was also the agent for an additional $6 million term loan | |
| 9/15/2023 | Ecopetrol | Banco Latinoamericano de Comercio Exterior | Lender | $1,000 | Term Loan Facility | Bladex acted a joint arranger and three additional financial institutions joined the faciltiy | ||
| 9/15/2023 | AP Equipment Financing | Equipment Finance | Wells Fargo | LEnder | $200 | Credit Facility | ||
| 9/15/2023 | Leonid Capital Partners | Speciality Credit Fund | Victory Park Capital | Lender | $200 | Credit Facililty | ||
| 9/15/2023 | HighPeak Energy | Energy | Texas Capital Bank | Lender | $1,200 | Term Loan Facility | Texas Capital as adminstrative agent and Chambers Energy Mgnt as collateral Agent | |
| 9/18/2023 | Wind Turbine & Energy Cables | Electric Cable Manufacturer | Santander Bank | Lender | $250 | Credit Facility | ||
| 9/19/2023 | USAopoly | Publisher and Manufacturer of board games | Gibralter Business Capital | Lender | $13 | Financing Facility | ||
| 9/19/2023 | Enfusion | Software | Bank of America | Lender | $100 | Credit Facility | ||
| 9/19/2023 | Essex Technology Group (dba Bargain Hunt) | Technology | SLR Credit Solutions | Agent | $40 | Credit Faciltiy | ||
| 9/21/2023 | Hyland Software | Software | Golub Capital | Agent and Arranger | $3,400 | Unitranche facility | ||
| 9/22/2023 | Nauticus Robotics | Ocean Robots and AI | Transocean, ATW Partners, Material Impact and RCB Equities | Lender | $20 | Term Loan Facility | ||
| 9/22/2023 | Stampede Drilling | Energy Services | HSBC Bank Canada and TD Bank | Lender | $50 | Credit Facility | $20 million term loan and two $15 million revolvers | |
| 9/25/2023 | Sparrow Financial | Student Loans | Encina Lender Finance | Lender | $25 | Senior Credit Faciility | ||
| 9/27/2023 | Tucows | Internet Services | Bank of Montreal | Agent | $240 | Revolving Credit Facility | Revolving credit facility of up to $240 million with an accordion for $60 million. | |
| 9/29/2023 | Anaergia and Rhode Island Bioenergy | Energy | East West Bank | Lender | $20 | Term Loan Facility |