Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 10/1/23 through 12/31/23. All dollar amounts are in millions.

DATE BORROWER INDUSTRY LENDER ROLE AMOUNT STRUCTURE NOTES SECOND NOTES
10/3/2023 Conserv Capital Equipment Financing Wingspire Capital Agent $50 Credit Facility
10/4/2023 Borealis Foods Food Technology FrontWell Capital Lender $25 Credit Facility
10/4/2023 Fora Financial Financial Services Truist Lender $130 Credit Facility Truist is senior lender and joined by Castlelake as participating lender
10/5/2023 Emerald Creek Capital Real Estate M&T Bank, Bank United and Webster Bank Lenders $110 Revolver
10/6/2023 Willdan Group Engineering Services BMO Lender and Agent $150 $100MM Term Loan/$50MM Revolver
10/9/2023 Hilton Grand Vacations Tourism & Hospitality Bank Of America Lender $1,300 Term Loan B Matures Aug. 2, 2028. The new pricing will be SOFR plus 275 basis points, down from SOFR plus 300 basis points.
10/11/2023 Express Wash Concepts Car Wash Franchisor MidCap Financial Lender $150 Credit Facility
10/12/2023 SWK Holdings Healthcare Woodforest National Bank and First Horizon Bank Lenders $60 Credit Facility The amended credit facility provides total commitments of $60 million, including a new $15 million commitment from Woodforest National Bank and an existing $45 million commitment from First Horizon Bank
10/13/2023 Koppers Wood Products Wells Fargo Agent $399 Term Loan B Repricing of seven-year, $399 million senior secured term loan B due April 10, 2030
10/13/2023 Phaxis Workforce Solutions Access Capital Lender $15 Credit Facility
10/13/2023 Vantiva Technologies Technology Barclays Bank Ireland Lender $89.45 Term Facility Also participated in by certain funds managed/and or advised (directly or indirectly) by Angelo Gordon
10/18/2023 4Front Ventures Cannabis ALT Debt II Lender $10 Credit Facility The funds will be disbursed in two tranches and are committed to building out the company’s retail operations in Illinois
10/18/2023 Revolution Foods Food Services Gibraltar Business Capital Lender $20 Credit Facility
10/19/2023 Capital Health Partners Medical Supply Siena Lending Group Lender $21.8 Credit Facility
10/31/2023 Premier Health of America Healthcare Royal Bank of Canada and BDC Capital Lender $36.10 Secured Credit including a refinancing of its current revolving facility and new term loans to finance the transaction. The secured financing is led by the Royal Bank of Canada and BDC Capital.
11/1/2023 LDC Stone Manufacturer and supplier of kitchen, bath stone and cabinet products MidFirst Business Credit Lender $25 Working Capital Facility
11/1/2023 Altius Renewable Royalties Energy MUFG Bank and Natixis CIB Lender and Agent $247 Credit Facility MUFG Bank and Natixis Corporate & Investment Banking are coordinating lead arrangers, bookrunners, syndication agents and hedge providers with respect to the facilities.
11/2/2023 Performant Financial Corporation Healthcare Wells Fargo Lender $25 Revolving Loan refinancing of its existing credit facility with a new credit facility with Wells Fargo that has a $25 million revolving loan commitment, subject to customary asset-based loan borrowing base limitations.
11/6/2023 Stoneridge Security Systems PNC, BofA and JP Morgan Arranger $275 Revolving Loan
11/6/2023 Click Therapeutics software HSBC Lender $20 Term Loan
11/7/2023 Strata Clean Energy Energy Nomura Securities Lender $300 Revolving Credit
11/8/2023 New Fortress Energy Energy BNDES, Lumina and BTG Lender $575 Asset based financing
11/8/2023 Paragon 28 Medical Devices Ares Capital Lender $150 Credit Facility
11/9/2023 Wine.com Alcohol Products MidCap Financial Lender $23 Senior Revolving Credit Facility
11/13/2023 Acumen Pharmaceuticals Pharmaceuticals K2 HealthVentures Lender $50 Credit Facility
11/14/2023 ICU Eyewear Retail Mountain Ridge Capital Lender $15 Credit Facility
11/14/2023 Fisher Dynamics Automotive Industry Great Rock Capital Lender $40 Term Loan Facility
11/16/2023 Access Capital Equipment Leasing and Financing Valley Bank Lender $130 Revolving Credit Facility
11/17/2023 Wheels Up Aviation Kore Capital, Whitebox Advisors Lender $40 Term Loan Kore Capital and Whitebox Advisors joined Delta Air Lines, Certares Management, Knighthead Capital Management and Cox Enterprises in providing Wheels Up, a provider of on-demand private aviation, with a $40 million term loan facility.
11/17/2023 Pollo Tropical Restaurant Comvest Credit Partners Lender $115 Senior Secured Credit Facility
11/20/2023 Blue Bird Transportation BMO Capital Lender $250 Credit Facility The new credit agreement provides for a $100 million term loan and a $150 million revolving credit facility.
11/22/2023 Colibri Group Leadership Golub Capital Lender $490 Term Loan The proceeds will be used to fund two acquisitions and repay an existing second lien term loan.
11/28/2023 AES Dominicano Renewable Energy Energy Bladex Lender $400 A/B Loan Facility closed a $368 million A/B loan facility, under IDB Invest´s A/B loan structure, and $27 million associated debt service reserve letter of credit facility for AES Dominicana Renewable Energy.
11/28/2023 Fluence Energy Energy Barclays Administrative Agent $400 Asset based financing Barclays is serving as administrative agent, joint lead arranger and joint bookrunner for the transaction.
12/1/2023 Land & Sea Industries Metal Fabrication NFusion Capital Lender $7 Asset based financing
12/1/2023 Grindr Social Networking App JP Morgan, bofA, Citizens, and SVB Lead Arrangers $350 Term Loan Facility
12/1/2023 Turning Point Brands Tobacco First Citizens Bank Agent $75
12/4/2023 N/A Exercise Equipment Mountain Ridge Capital Lender $25 The facility refinanced the debt of another lender
12/5/2023 Genco Shipping & Trading Dry Bulk Shipowner Nordea Bank Lead Arrangers $500 Credit Facility
12/6/2023 Best Egg Financial Technology Cross River Bank Lender $150
12/6/2023 HarbourView Equity Partners Alternative Asset Management Fifth Third Bank Lender $300 Capacity increase To acquire music royalty assets and for general corporate purposes
12/6/2023 Stella & Chewy’s Pet Food CIT Northbridge Credit Administrative Agent $75 Revolver
12/7/2023 Output Services Group Print and Digital Billing and Payments MidCap Financial Lender $50 Revolver Part of reorganization
12/7/2023 Kizik Footwear JPMorgan Chase Lender $25 Revolver Capacity increase from $10MM
12/8/2023 CDB Aviation Aircraft Finance Crédit Agricole Agent $625 Term Loan Sustainability-Linked
12/11/2023 N/A Technology Oxford Commercial Finance Lender $2 Asset-Based Loan
12/11/2023 N/A Food & Drink Austin Financial Services Lender $4.5 Asset-Based Loan To refinance and provide ongoing working capital
12/11/2023 Alto Ingredients Specialty Alcohols Orion Infrastructure Capital Lender $125 Term Loan Extension of commitment period
12/11/2023 Dorel Industries Home Furnishing & Child Care Equipment First Eagle Investments Administrative Agent $88 Term Loan
12/12/2023 Capital Southwest Financial Services ING Capital Lender $460 Credit Facility ING led a $25MM increase of the facility
12/12/2023 QualDoc Staffing LSQ Lender $1 Credit Facility
12/12/2023 Kimbell Royalty Partners Oil & Gas Citi Administrative Agent $550 Revolver Borrowing base increase from $400MM
12/12/2023 CareRx Corporation Healthcare Crown Private Credit Partners Arranger $50 Term Loan Refinancing
12/12/2023 Digi International Internet of Things Products BMO Administrative Agent $250 Revolver
12/13/2023 N/A Transportation InterNex Capital Lender $7 Revolver
12/13/2023 QuickLogic Semiconductors Heritage Bank of Commerce Lender $20 Credit Facility Facility increased and maturity extended
12/14/2023 SunOpta Food & Drink Bank of America Administrative Agent $265 $180MM Term Loan/$85MM Revolver To repay existing credit agreement and repay and terminate certain capital lease obligations
12/14/2023 Vertiv Digital Infrastructure Citibank Administrative Agent $2,100 Term Loan
12/14/2023 Motorcar Parts of America Automotive Parts PNC Lender $238.62 Revolver
12/14/2023 SellersFi Financial Technology Citi Lender $135 Potential to grow up to $300MM
12/15/2023 ARM Energy Services Natural Gas Rabobank Lender $160 Revolver Facility increased from $50MM
12/15/2023 Phathom Pharmaceuticals Biopharmaceuticals Hercules Capital Lender $300 Term Loan Facility increased and maturity extended
12/15/2023 Bluebird Network Communications Infrastructure TD Securities Administrative Agent $285 To refinance indebtedness and fund ongoing capital expenditures
12/18/2023 N/A Automotive Testing Services First Business Bank Lender $10 Revolver & Term Loan
12/19/2023 N/A Consumer Beverages Mountain Ridge Capital Lender $15 To refinance debt and achieve company growth and operational objectives
12/19/2023 UG Construction Construction Gemini Finance Lender $10 Revolver
12/19/2023 Armored Republic Body Armor FrontWell Capital Partners Lender $6 Revolver & Term Loan To refinance debt and provide additional working capital
12/19/2023 ADMA Biologics Biopharmaceuticals Ares Management Lender $135 $72.5MM Revolver/$62.5MM Term Loan To repay obligations under prior facility.
12/20/2023 N/A Food & Drink Rosenthal & Rosenthal $1 ABL Facility To provide working capital
12/20/2023 Taysha Gene Therapies Gene Therapy Trinity Capital Administrative Agent $40 Term Loan To fund operating expenses and capital requirements into 2026
12/20/2023 Catalent Healthcare Product Development JPMorgan Chase Administrative Agent $600 Term Loan To repay a portion of outstanding borrowings and to pay related fees and expenses
12/20/2023 Ampla Financial Solutions Citi and Waterfall Asset Management Lenders $275 Credit Facility For expansion initiatives
12/21/2023 N/A Communications Austin Financial Services Lender $5 ABL Facility To refinance bank facility and support growth
12/21/2023 Connext Networks Internet Infrastructure Woodforest National Bank Arranger $70 Credit Facility To accelerate deployment fiber optic network across Utah
12/21/2023 Mara Technologies Electronics Manufacturing FrontWell Capital Partners Lender $33.7 Revolver & Term Loan Facility increase
12/21/2023 Vensure Employer Solutions HR/HCM Technology & Services Stone Point Capital Markets Lender $500 $450MM Delayed-Draw Term Loan/$50MM Revolver To continue pursuing M&A strategy
12/22/2023 Alliance Entertainment Entertainment White Oak Commercial Finance Lender $120 Revolver
12/22/2023 Harmonic Video Streaming Citi Arranger $160 $120MM Revolver/$40MM Delayed-Draw Term Loan
12/26/2023 Margo Cryptocurrency ATM Operator Chicago Atlantic Lender $16 Term Loan
12/28/2023 Salem Media Group Media Siena Lending Group Lender $26 Revolver Refinances prior facility
12/28/2023 Calliditas Therapeutics Biopharmaceuticals Athyrium Capital Management Lender $102.30 To fully repay existing loan with Kreos Capital
12/28/2023 SSA Holdings Mexico Port Operator BBVA Mexico Administrative Agent $200 Revolver