Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 10/1/22 through 12/31/22. All dollar amounts are in millions.
| DATE | BORROWER | INDUSTRY | LENDER | ROLE | AMOUNT | STRUCTURE | NOTES | SECOND NOTES |
|---|---|---|---|---|---|---|---|---|
| 10/3/2022 | Dext Capital | Financial Services | Bank of America | Lender | $200 | Increases facility capacity to $550MM to support origination channels | ||
| 10/3/2022 | Latshaw Drilling | Drilling | WhiteHawk Capital Partners | Lender | $41 | To support a refinancing of Latshaw’s indebtedness following out-of-court restructuring | ||
| 10/5/2022 | Bloomreach | Software | J.P. Morgan | Lender | $30 | Includes accordion that may permit up to $130MM in funding | ||
| 10/5/2022 | Biery Cheese | Food & Drink | CIT Northbridge Credit | Agent | $40 | Revolver | Refinances senior debt and supports increased production | |
| 10/6/2022 | Caesars Entertainment | Entertainment & Hospitality | JPMorgan Chase | Admin agent | $3,000 | $2.25B revolver/$750MM term loan | Increase and extension to existing facility | |
| 10/7/2022 | Beyond Finance | Debt Resolution Services | Comvest Credit Partners | Admin agent | $400 | Delayed-draw term loan | To support ongoing operations and continued growth | |
| 10/7/2022 | ClearStream Energy Services | Energy & Industrial | TD Bank | Lender | $50 | Increase to revolver | ||
| 10/10/2022 | Regents Capital | Financial Services | Bank OZK | Lender | $100 | Revolver | To fund new originations and support additional growth | |
| 10/10/2022 | Oxford Biomedica | Gene & Cell Therapy | Oaktree Capital Management | Lender | $85 | |||
| 10/10/2022 | Replimune Group | Biotechnology | Hercules Capital | Lender | $200 | Term loan made up of six tranches | ||
| 10/11/2022 | CherCo | Energy Infrastructure Services | Armory Securities | Placement agent | $55 | Term loan | Supports acquisition of assets and provides ongoing liquidity | |
| 10/11/2022 | Warby Parker | Retail-Eyewear | Comerica Bank | Admin agent | $100 | Revolver | ||
| 10/12/2022 | NextBank International | Banking | Savi Capital Partners | Lender | $200 | Revolver | To fund loans secured by domestic U.S. commercial real estate properties | |
| 10/12/2022 | Kodiak Robotics | Technology | Horizon Technology Finance | Lender | $30 | |||
| 10/13/2022 | Utz Brands | Food & Drink | City National Bank | Admin agent | $88.14 | Real estate senior secured term loan | To pay outstanding amount under subsidiary's revolver, with excess cash going to balance sheet | |
| 10/14/2022 | Avid | Technology | JPMorgan Chase | Admin agent | $306.7 | $186.7MM term loan/$120MM revolver | Amends and replaces previous facility | |
| 10/14/2022 | EquipmentShare | Equipment Rental | Capital One | Admin agent | $2,100 | Revolver | ||
| 10/18/2022 | Surmodics | Healthcare | MidCap Financial | Lender | $125 | $100MM term loan/$25MM revolver | Partially used to retire existing $25MM revolver with Bridgewater Bank | |
| 10/18/2022 | The Healing Company | Healthcare | i80 Group | Lender | $150 | To support acquisition of Your Super | ||
| 10/19/2022 | MD Helicopters | Aerospace Manufacturing | Siena Lending Group | Lender | $50 | Revolver | To partially repay a DIP credit facility and for future working capital needs | |
| 10/19/2022 | B. Riley Financial | Financial Services | Pathlight Capital | Lender | $148.2 | Term loan | Borrower is an SPV majority-owned by a subsidiary of B. Riley Financial | |
| 10/20/2022 | Greenbelt Capital Partners | Private Equity | LBC Credit Management | Agent | $180 | To support acquisition of Unirac | ||
| 10/20/2022 | The Singing Machine Company | Consumer Electronics | Fifth Third | Lender | $15 | |||
| 10/20/2022 | Nelo | Consumer Payments | Victory Park Capital | Lender | $100 | For expansion | ||
| 10/20/2022 | Purr-Ferred PetFood | Pet Supplies | Edge Capital | Lender | $10 | Also includes $2MM accordion | ||
| 10/21/2022 | Big Lots | Retail | PNC | Admin agent | $900 | For general corporate purposes and working capital needs | ||
| 10/21/2022 | Flexport Capital | Trade Financing | KKR | Lender | $200 | To continue building financing product and further invest in client growth and geographic expansion | ||
| 10/24/2022 | Kitchen Cabinet Designers | Cabinetry Services | Fifth Third | Lender | $35 | To support growth | ||
| 10/24/2022 | Flagship Healthcare Trust | Real Estate Investment | Fifth Third | Arranger | $265 | $165MM term loan/$100MM revolver | Expansion to facility | |
| 10/25/2022 | Federal Signal | Safety Solutions | Wells Fargo | Admin agent | $800 | $675MM revolver/$125MM term loan | Replaces previous facility | |
| 10/25/2022 | Callon Petroleum Company | Oil & Gas | JPMorgan Chase | Admin agent | $2,000 | Revolver | Extended to Oct. 19, 2027 | |
| 10/26/2022 | Nalu Medical | Medical Devices | Runway Growth Capital | Lender | $45 | Term loan | To support expanded commercial operations and clinical research | |
| 10/27/2022 | PARTS iD | Digital Commerce | JGB Capital | Lender | $5.5 | Term loan | For working capital purposes | |
| 10/27/2022 | Gladiator Energy | Oil & Gas Services | Siena Lending Group | Lender | $45 | Revolver | To support growth | |
| 10/31/2022 | TL Management | Healthcare Facilities | BHI | Lender | $42.5 | |||
| 10/31/2022 | Kin | Insurance | Runway Growth Capital | Lender | $145 | To support the expansion of the Kin Interinsurance Network | ||
| 11/1/2022 | Alumni Staffing | Staffing | Access Capital | Lender | $5 | To sustain growth and maximize financial flexibility | ||
| 11/1/2022 | Icertis | Software | Silicon Valley Bank | Lender | $150 | Revolver and convertible financing | To further expand in contract lifecycle management (CLM) category | |
| 11/1/2022 | ALX Oncology | Pharmaceuticals | Oxford Finance and Silicon Valley Bank | Lenders | $100 | To support development of evorpacept, a CD47 blocking therapeutic | ||
| 11/2/2022 | Lendbuzz | Financial Technology | J.P. Morgan | Lender | $150 | To expand borrower base on Lendbuzz’s AI-based auto finance platform | ||
| 11/2/2022 | ePlus | Technology and Finance | Wells Fargo Commercial Distribution Finance | Admin agent | $575 | $425MM floorplan facility/$150MM revolver | Increase to previous facility | |
| 11/4/2022 | Dwight Funding | Financial Services | IDB Bank | Admin agent | $100 | Revolver | To support growth and investment in technology | |
| 11/7/2022 | Approved Oil | Fuel Services | JPMorgan Chase | Admin agent | $185 | Includes $25MM accordion | ||
| 11/7/2022 | Avtech Capital | Equipment Leasing | Capital One | Lender | $75 | Revolver | To support growth | |
| 11/7/2022 | Acrisure | Insurance | JPMorgan Chase | Admin agent | $1,000 | Term loan | To fund future acquisitions and to pay related fees and expenses | |
| 11/7/2022 | Outset Medical | Medical Tech | SLR Capital Partners | Lender | $300 | $250MM term loan/$50MM revolver | ||
| 11/8/2022 | Alto Ingredients | Specialty Alcohols | Orion Infrastructure Capital | Lender | $125 | Term loan | ||
| 11/8/2022 | Swiss Water Decaffeinated Coffee | Food & Drink | CIBC, Business Development Bank of Canada, Farm Credit Canada, Mill Road Capital II | Lenders | $33.25 | |||
| 11/9/2022 | Aequum Capital | Financial Services | Texas Capital Bank | Lender | $50 | Revolver | To support loan origination volume | |
| 11/9/2022 | Quotient Technology | Media & Tech | PNC | Lender | $50 | Revolver | To retire maturing convertible note obligations and to fund capital expenditures | |
| 11/9/2022 | Quotient Technology | Media & Tech | Blue Torch Capital | Lender | $55 | Term loan | To retire maturing convertible note obligations and to fund capital expenditures | |
| 11/9/2022 | Brivo Systems | Technology | Runway Growth Capital | Lender | $75 | To continue developing ecosystem of access control solutions | ||
| 11/10/2022 | Alida | Experience Management | National Bank of Canada | Lender | $60 | Syndicated Credit Facility | To continue its long-term growth trajectory | |
| 11/10/2022 | One Liberty Properties | Real Estate | Manufacturers and Traders Trust Company | Lender | $100 | Credit Facility | To be borrowed for renovation and operating expense purposes | |
| 11/10/2022 | B12 Transportation Group | Transportation | Fifth Third Bank | Lender | $9.4 | Asset-based lending credit facility | ||
| 11/10/2022 | Tropical Products | Consumer Goods | Cambridge Savings Bank | Lender | $16 | Funding | To support the expansion | |
| 11/10/2022 | Rise Line Business Credit | ABL | Texas Capital Bank | Lender | $30 | Financing | The financing includes an accordion for growth and is a continuation of an existing financing program | |
| 11/15/2022 | Horizon Funding Trust 2022-1 | Lender | Horizon Technology Finance | Subsidiary | $158 | Securitization | ||
| 11/15/2022 | ViewRay | Health/Eyecare | MidCap Financial | Lender | $125 | Term loan and revolver | The agreement consists of a term loan of up to $100 million and a revolving line of credit of up to $25 million | |
| 11/15/2022 | Monro | Automotive | Citizens | Lead left arranger, bookrunner and administrative agent | $600 | Revolver | The amended facility will be used to refinance debt, fund acquisitions and for general corporate purposes | |
| 11/17/2022 | Casper Sleep | Sleep Products | Second Avenue Capital Partners | Lender | $80 | Credit Facility | To retire an existing credit facility and support ongoing working capital needs | |
| 11/17/2022 | Priority Power Management | Energy Optimization and Infrastructure | BMO | Administrative Agent | $250 | Credit Facility | Refinancing | |
| 11/17/2022 | Oak Street Health | Healthcare | Silicon Valley Bank | Lender | $300 | Credit Facility | For operational and strategic capital | |
| 11/17/2022 | Cadence Bank | Lender | SWK Holdings | Lender | $50 | Credit Facility | Upsize | |
| 11/17/2022 | Huron | Professional Services | Bank of America | Lender | $600 | Credit Facility | Amended and Restated | |
| 11/17/2022 | Biodesix | Diagnostics | Perceptive Advisors | Lender | $50 | Term Loan | For repayment of existing debt facilities, working capital and general corporate purposes | |
| 11/17/2022 | Pearl Street Dental Partner | Healthcare | Oxford Finance | Lender | $115 | Credit Facility | To support the acquisition of the business and provide ongoing working capital | |
| 11/18/2022 | Corsicana Mattress Company | Sleep Products | Wingspire Capital | Lender | $40 | Revolver | ||
| 11/18/2022 | Immersive Group Gaming | Gaming | Finacity, a White Oak company | Lender | $12 | Venture Debt | ||
| 11/18/2022 | Fourth Street Barbecue | Food Services | Huntington Business Credit | Lender | $88 | Credit Facility | To refinance existing debt and provide ongoing working capital growth financing | |
| 11/21/2022 | SurgePays | Telecommunications | Horizon Capital | Lender | $25 | Credit Facility | ||
| 11/23/2022 | Balance | B2B payments | Viola Credit | Lender | $350 | Credit Facility | To continue enabling B2B commerce and ease working capital | |
| 11/28/2022 | Main Street Capital | Financial Services | Truist | Administrative agent | $240 | Revolver | To purchase certain investments and participation interests from Main Street and to finance a SPV’s direct investments thereafter | |
| 11/29/2022 | Centerspace | Housing Technology | PNC | Administrative Agent | $100 | Term Loan | To repay a portion of the balance on Centerspace’s existing credit facility | |
| 11/30/2022 | Greenbacker Renewable Energy Company | climate-focused investment manager and independent power producer | Fifth Third | Administrative Agent | $150 | senior secured sustainability revolving credit facility | to support projects with environmental and social benefits. | |
| 11/30/2022 | Leader Global Solutions | Trade Finance | Huntington Business Credit | Administrative agent, bookrunner and lead arranger | $150 | To refinance existing debt and provide ongoing working capital growth financing | ||
| 11/30/2022 | Pilot Wave E-Commerce | Consumer Goods | Tiger Finance | Lender | $20 | Credit Facility | To support Pilot Wave E-Commerce’s data-driven approach to acquiring, operating and scaling e-commerce businesses | |
| 11/30/2022 | Everlane | Apparel | Gordon Brothers | Lender | $25 | Term Loan | ||
| 11/30/2022 | Viemed Healthcare | Healthcare | Regions Bank | Administrative and Collateral Agent | $30 | Revoler and Delayed-Draw Term Loan | To refinance existing indebtedness, to finance future potential acquisitions, for working capital purposes and for capital expenditures | |
| 11/30/2022 | Viemed Healthcare | Healthcare | Regions Bank | Administrative and Collateral Agent | $30 | Delayed-Draw Term Loan | o finance future potential acquisitions and to pay transaction fees, costs and expenses related to such acquisitions | |
| 11/30/2022 | SilverCrest Metals | Mining | Bank of Nova Scotia | Lender | $120 | $70MM Revolver/$60MM Term Facility | ||
| 12/1/2022 | Sterling Check | Security & Information Services | KeyBanc Capital Markets | Joint Lead Arranger | $700 | Credit Facility | ||
| 12/1/2022 | Nautilus | Fitness | Wells Fargo | Lender | $30 | Term Loan | Enhance financial position and flexibility by optimizing the company’s capital structure and allocation capacity | |
| 12/2/2022 | Superior Biologics | Pharmaceuticals | CIT | Lead Arranger | $135.6 | Term Loan and Revolver | To refinance existing debt, fund a shareholder dividend, provide working capital and support growth initiatives | |
| 12/5/2022 | EVERTEC | Technology | Truis | Left Lead Arranger, Administrative Agent and Collateral Agent | $675 | Term Loan | To repay in full the company’s existing term loan A and term loan B | |
| 12/5/2022 | Blaschak Anthracite | Energy | Great Rock Capital | Lender | $34 | Credit Facility | To support the future acquisition and capital expenditure needs of the business | |
| 12/5/2022 | Endodontic Practice Partners | Healthcare | Twin Brook Capital Partners | Lender | $100 | Debt Facility | To continue growth | |
| 12/6/2022 | Dynatrace | Software Intelligence | BMO Harris | Lead arranger | $400 | Revolver | ||
| 12/7/2022 | Utopia Deals | Online Marketplace | CIT | Lender | $35 | Revolver | to support the company’s working capital needs and growth strategy | |
| 12/7/2022 | Prodigy Health | Healthcare | Gibraltar Business Capital | Lender | $25 | Senior Working Capital Facility | To support the acquisition and future growth of a newly formed combined entity | |
| 12/7/2022 | Extensiv | Omnichannel Fulfillment Solutions | Runway Growth Capital | Lender | $80 | Terrm Loan | To refinance existing debt and provide additional working capital | |
| 12/8/2022 | NineDot Energy | Energy | CIT | Lender | $85 | Construction-to-Term Debt Facility | ||
| 12/9/2022 | Evolus | Beauty Products | Pharmakon Advisors | Lender | $125 | Credit Facility Extension | ||
| 12/9/2022 | Surterra Holdings | Cannabis | SunStream Opportunities | Lender | $10 | Bridge Term Loan | For general working capital purposes. | |
| 12/12/2022 | Gibraltar Industries | Energy | KeyBanc Capital Markets | Joint Lead Arranger | $400 | Revolver | Liquidity to fund M&A opportunities to strengthen Gibraltar’s portfolio, maintain its share buyback program and to use for general corporate purposes | |
| 12/12/2022 | Ahold Delhaize | Food | ABN AMRO Bank | Coordinator | $1,580 | Sustainability-Linked Revolver | Upsize | |
| 12/13/2022 | Trumbull Industries | Inventory Management | Huntington Business Credit | Lender | $36 | Credit Facilities | To refinance existing debt, support a partial recapitalization of the company and provide ongoing working capital growth financing | |
| 12/13/2022 | Walker & Dunlop | Legal Services | J.P. Morgan | Lender | $200 | Term Loan | Reduces annual debt service payments and creates greater operational efficiency as the company manages its capital strategy | |
| 12/13/2022 | BJ Energy Solutions | Energy | Eclipse Business Capital | Lender | $100 | Revolver | To refinance outstanding debt and to fund capital expenditures needed for the growth and expansion of next generation fleets | |
| 12/13/2022 | Fundare Resources Company | Oil & Gas | BOK Financial | Admin agent | $500 | Reserve-Based Credit Facility | To refinance existing indebtedness, fund future development of the borrower’s oil and gas properties and for other corporate development opportunities and general corporate purposes | |
| 12/15/2022 | The ONE Group Hospitality | Hospitality | Goldman Sachs | Admin agent | $50 | Credit Facility | ||
| 12/15/2022 | Fortuna Silver Mines | Mining | BNP Paribas | Lender | $250 | Revolver | To redeeem, repurchase or acquire capitl stock | |
| 12/16/2022 | Azalea Health | Healthcare | CIBC Innovation Banking | Lender | $45 | syndicated debt financing | to finance ongoing working capital requirements | |
| 12/16/2022 | Lendbuzz | Technology | Regions Bank | Lender | $135 | credit facility | to fund revenue cycle management for community-based healthcare providers | |
| 12/16/2022 | Aziyo Biologics | Medical Devices | SWK Holdings | Lender | $4 | term loan | to fuel continued growth of its dealership floor planning portfolio | |
| 12/16/2022 | DSD Renewables | Industrial | Credit Suisse Securities | Lender | $155 | debt financing | to continue development of CanGaroo RM | |
| 12/16/2022 | Xeal | Technology | Bridge Bank | Lender | $10 | line of credit | to fund solar asset-backed securities | |
| 12/19/2022 | Mervin Manufacturing | snowboard equipment manufacturer | MidCap Financial | Lender | $10 | revolving line of credit | to fund EV charging solutions | |
| 12/19/2022 | SES | Connectivity Solutions | European Investment Bank | Lender | $318.20 | term loan | to refinance prior credit facilities | |
| 12/19/2022 | ASK Chemicals | Industrial materials | Goldman Sachs | Lead Arranger | $238.50 | secured term loan | ||
| 12/19/2022 | Ero Copper | Copper producer | BMO | Lead Arranger | $75 | credit facility | ||
| 12/19/2022 | BillionToOne | Diagnostics | Bridge Bank | Lender | $35 | term loan facility | ||
| 12/19/2022 | Evelo Biosciences | Biotechnology | Horizon Technology Finance Corporation | Lender | $45 | secured term loan | ||
| 12/20/2022 | OppFi | Fintech | Castlelake | Lender | $150 | credit facility | will enable them to finance receivables growth | |
| 12/20/2022 | Audigent | Data Management | SLR Digital Finance | Lender | $5 | Credit facility | Provides additional working capital | |
| 12/21/2022 | Gatos Silver | Mining | BMO | Lender | $50 | Amended revolver | Available for general corporate purposes, working capital, acquisitions and investments | |
| 12/21/2022 | Evans Transportation Services | Transportation | PNC | Lender | $400 | Credit facility | Includes a revenue increase from $80MM to $400MM | |
| 12/27/2022 | Guess | Apparel-Retail | Bank of America | Lender | $150 | Revolver | Includes a sustainability-linked component | |
| 12/28/2022 | Knight Therapeutics | Pharmaceuticals | International Finance Corporation | Lender | $39 | Secured loan | ||
| 12/28/2022 | Invacare | Medical Equipment | Highbridge Capital Management | Lender | $5.5 | Term loan | ||
| 12/28/2022 | Clean Energy Fuels | Energy | Riverstone Credit Partners | Lender | $150 | Term loan | ||
| 12/29/2022 | Cellectis | Clinical Stage Biotechnology Company | European Investment Bank (EIB) | Lender | $43 | Credit Facility | ||
| 12/29/2022 | Enefit Green | SEB and Swedbank | Lender | $53 | Term Loan | Refinancing term loans that were due in 2023 | ||
| 12/29/2022 | Towner County Medical Center | Medical | Stroudwater GCL | Lender | $58 | Consolidation |