Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 4/1/22 through 6/30/22. All dollar amounts are in millions.
| DATE | BORROWER | INDUSTRY | LENDER | ROLE | AMOUNT | STRUCTURE | NOTES | SECOND NOTES |
|---|---|---|---|---|---|---|---|---|
| 4/1/2022 | Boston Battery | Automotive | Eastern Bank | Lender | $8 | |||
| 4/1/2022 | HG Global | Manufacturing | Hudson Structured Capital Management, Security Benefit Life Insurance Company | Lender | $150 | Term loan | A portion of proceeds will be used to pay a $120MM dividend | |
| 4/1/2022 | Statkraft | Energy | DNB | Sustainability coordinator | $1,430 | Sustainability-linked revolver | ||
| 4/4/2022 | Everstream Solutions | Telecommunications | DigitalBridge Group | Lender | $220 | Term loan | ||
| 4/4/2022 | Mobile Infrastructure | Infrastructure | KeyBank | Lender | $75 | Includes $75MM accordion | For refinancing and acquisitions | |
| 4/4/2022 | The Swiss Helvetia Fund | Investments | U.S. Bank | Lender | $15 | Revolver | For general corporate purposes | |
| 4/5/2022 | Stride Funding | Financial Services | Encina Lender Finance | Lender | $105 | |||
| 4/5/2022 | Viridian Therapeutics | Biotechnology | Hercules Capital | Lender | $75 | |||
| 4/6/2022 | Smith Micro Software | Software | Wells Fargo | Lender | $7 | Revolver | For working capital requirements and other general corporate purposes | |
| 4/6/2022 | Ares Capital | Financial Services | JP Morgan, Bank of America, Truist, MUFG Bank, SMBC, Wells Fargo | Lenders | $4,800 | Increased and extended to March 31, 2027 | ||
| 4/6/2022 | Tangelo | Financial Technology | HSBC | Lender | $149.7 | |||
| 4/6/2022 | Revelle Aesthetics | Medical Devices | Runway Growth Capital | Lender | $25 | Term loan | To support manufacturing of product for the reduction of cellulite | |
| 4/7/2022 | Juvo+ | E-commerce | Victory Park Capital | Lender | $100 | |||
| 4/8/2022 | Oscar de la Renta | Fashion Retail | SLR Credit Solutions | Lender | $20.5 | Term loan | To refinance existing debt and provide for enhanced flexibility | |
| 4/8/2022 | E2open Parent Holdings | Supply Chain Software | Golub Capital | Lender | $190 | Incremental term loan | Increased E2open's overall credit facility to $1.255B | |
| 4/8/2022 | Jenni Kayne | Retail Apparel | MidCap Financial | Lender | $30 | Revolver | To support growth and working capital needs | |
| 4/11/2022 | Huhtamäki | Packaging | Nordea and SEB | Lead arrangers | $272 | Term loan | For refinancing and general corporate purposes | |
| 4/11/2022 | Global Net Lease | Real Estate | KeyBank | Lender | $1,450 | Revolver | ||
| 4/11/2022 | MidCap Business Credit | Financial Services | Wells Fargo Capital Finance | Lender | $200 | Upsize of previous facility | To support the growth of existing ABL business and launch of equipment finance vertical | |
| 4/12/2022 | Blackstone Products | Cooking Equipment | White Oak Global Advisors | Lender | $75 | Term loan | ||
| 4/13/2022 | OMNIQ | Supply Chain Solutions | Bridge Bank | Lender | $8.5 | |||
| 4/13/2022 | Bridgelink Power | Energy | Crayhill Capital Management | Lender | $200 | To finance late-stage, utility-scale solar projects | ||
| 4/14/2022 | H2 Equity Partners | Investments | FGI | Lender | $39.2 | Cross-border, multi-asset, committed credit facility | To support acquisition of Acal BFi | |
| 4/14/2022 | Protective Life | Insurance | Regions Bank | Admin agent | $1,500 | Sustainability-linked revolver | Replaces previous facility | |
| 4/14/2022 | ProPetro | Oilfield Services | Barclays, JPMorgan Chase, Goldman Sachs, Bank of America | Lenders | $150 | Term extended, commitments reduced from $300MM | ||
| 4/15/2022 | ClearStream Energy Services | Energy | TD Bank | Lender | $25 | Revolver | Replaces existing facility | |
| 4/15/2022 | Oceaneering | Engineering Services | Wells Fargo | Admin agent | $215 | Sustainability-linked revolver | ||
| 4/15/2022 | iFIT Health & Fitness | Fitness | Pathlight Capital | Admin agent | $355 | To invest in focused growth initiatives | ||
| 4/18/2022 | Click Therapeutics | Medical Tech | Silicon Valley Bank | Lender | $15 | Term loan | To retire existing term loan and advance prescription digital therapeutic pipeline | |
| 4/19/2022 | Excelerate Energy | Energy | JPMorgan Chase | Admin agent | $350 | Revolver | For letters of credit, working capital and other general corporate purposes | |
| 4/19/2022 | Recreational Realty | Recreational Vehicles | Truist Securities and Citizens Bank | Lenders | $300 | Syndicated revolver | To finance future acquisitions and support development initiatives | |
| 4/19/2022 | Kalera | Agriculture | Farm Credit of Central Florida | Lender | $30 | To support capital expenditures and working capital needs | ||
| 4/21/2022 | Comfort Research | Furniture | Fifth Third Business Capital | Lender | $27.8 | Revolver | To support acquisition of the North Carolina operations of Spin Master | |
| 4/21/2022 | Perrigo | Self-Care Products | JPMorgan Chase, Morgan Stanley Senior Funding, Wells Fargo Securities, BofA Securities, HSBC Securities | Lead arrangers | $2,600 | $1.1B term loan B/$1B revolver/$500MM term loan A | To finance acquisition of Héra SAS and repay existing indebtedness | |
| 4/22/2022 | Airwavz Solutions | Wireless Infrastructure | AB Private Credit Investors | Lender | $70 | |||
| 4/22/2022 | Bloom Medicinals | Cannabis | AFC Gamma | Lender | $82.5 | To repay existing debt, fund expansion, acquire a Level 1 cultivation license in Ohio and provide additional working capital | ||
| 4/22/2022 | Natural Gas Compression Systems | Natural Gas Compression | CIT Northbridge | Admin agent | $145 | Revolver | Refinance | |
| 4/25/2022 | Savara | Biopharmaceuticals | Silicon Valley Bank | Lender | $26.5 | Term loan | Replaces existing facility | |
| 4/25/2022 | Stansport | Outdoor Goods | Huntington Business Credit | Lender | $16 | To provide acquisition financing and ongoing working capital growth financing | ||
| 4/25/2022 | myGemma | Retail Accessories | Second Avenue Capital Partners | Lender | $10 | To support increased working capital and additional inventory purchases | ||
| 4/26/2022 | Blue Sky eLearn | Software | Bridge Bank | Lender | $7.5 | For working capital | ||
| 4/26/2022 | INDUS Realty Trust | REIT | JPMorgan Chase | Admin agent | $150 | Delayed draw term loan | Increases total credit agreement to $250MM | |
| 4/27/2022 | Establishment Labs | Medical Technology | Oaktree Capital Management | Lender | $225 | Term loan | ||
| 4/27/2022 | AGP Group | Automotive Materials | OMERS Capital Markets and BMO Financial Group | Lenders | $250 | Term loan | To finance expansion plans, including completion of a new North American production facility | |
| 4/28/2022 | Natural Gas Compression Systems | Oilfield Services | Great Rock Capital | Lender | $25 | Part of total $145MM package | ||
| 4/28/2022 | StoneX Group | Financial Services | Bank of America, BMO, Capital One | Lead arrangers | $475 | Revolver | Increase to previous facility | |
| 4/28/2022 | Encina Equipment Finance | Financial Services | Bank of America | Admin agent | $450 | Revolver | ||
| 4/29/2022 | Hello Bello | Retail | CIT Northbridge Credit | Lender | $65 | |||
| 5/3/2022 | CST Industries | Industrial Storage | Siena Lending Group | Lender | $30 | To refinance existing debt and provide additional working capital | ||
| 5/3/2022 | Tourmo | Technology | Bridge Bank | Lender | $5 | Monthly recurring revenue LOC | To support growth | |
| 5/3/2022 | Auto Finance Solutions | Floor Plan Financing | BizCap | Lender | $25 | To refinance existing debt and fund growth | ||
| 5/3/2022 | Designer Brands | Retail | Huntington Business Credit | Admin agent | $550 | To refinance existing debt and provide working capital | ||
| 5/4/2022 | AFC Gamma | Cannabis | East West Bank | Agent | $60 | Revolver | To fund unfunded commitments to borrowers, to originate commercial loans and for working capital and other general corporate purposes | |
| 5/4/2022 | Treace Medical Concepts | Medical Tech | MidCap Financial | Lender | $150 | $120MM term loans/$30MM revolver | To refinance, expand and/or replace exisiting facilities | |
| 5/4/2022 | The AZEK Company | Building Products | Bank of America | Admin agent | $600 | Term loan | To prepay obligations under existing first lien term loan credit agreement | |
| 5/5/2022 | Origis Energy | Renewable Energy | CIT | Lead arranger | $375 | |||
| 5/5/2022 | North Shore Components | Computer Parts | BHI | Lender | $20 | Revolver | To refinance existing line of credit and for working capital | |
| 5/5/2022 | Morningstar Properties | Storage | First Citizens Bank | Lender | $50 | $35MM revolver with $15MM accordion | For growth opportunities and general working capital purposes | |
| 5/5/2022 | Pliant Therapeutics | Biotechnology | Oxford Finance | Lender | $100 | Term loan | To support the continued clinical development of PLN-74809 | |
| 5/5/2022 | Omni Bridgeway | Litigation Financing | Northleaf Capital Partners | Lead arranger | $177.2 | |||
| 5/10/2022 | Omni Recycling | Waste Management | White Oak Global Advisors | Lender | $21.3 | To support Salt Creek Capital’s acquisition of the company | ||
| 5/11/2022 | Walker Midwest and Walker West | Manufacturing | MidCap Business Credit | Lender | $15 | |||
| 5/11/2022 | Logan Ridge Finance | Financial Services | KeyBank | Lender | $75 | Revolver | Increase of $50MM | |
| 5/12/2022 | Deserve | Financial Technology | Goldman Sachs, Cross River, Waterfall Asset Management | Lender | $250 | |||
| 5/12/2022 | CleanCapital | Renewable Energy | Rabobank | Admin agent | $200 | Structured with an accordion and will grow over time | ||
| 5/12/2022 | ABLE Equipment Rental | Equipment Rental | M&T Bank | Admin agent | $175 | $125MM revolver/$35MM accordion/$15MM term loan | To grow rental fleet and provide for general corporate working capital and growth capital | |
| 5/18/2022 | Ashley Stewart | Retail Apparel | Wingspire Capital | Lender | $30 | Revolver | To refinance debt and support future growth | |
| 5/18/2022 | The Jessica Simpson Collection | Retail Apparel | Second Avenue Capital Partners | Lender | $67.5 | Term loan | To retire an existing credit facility and provide additional liquidity | |
| 5/19/2022 | Ascend Wellness Holdings | Cannabis | Seaport Global Securities | Lead manager | $246.5 | Term loan | $36.5MM increase to existing term loan | |
| 5/19/2022 | Aligned Data Centers | Technology Infrastructure | TD Securities | Admin agent | $1,750 | $750MM 24-month delayed-draw term loan/$500MM 12-month delayed-draw term loan/$500MM revolver | Facility is sustainability-linked | |
| 5/19/2022 | Air Industries Group | Manufacturing | Webster Bank | Lender | $5 | Term loan | To retire existing term loan and a capital lease and purchase two CNC milling centers | |
| 5/19/2022 | CVG | Technology/Manufacturing | Bank of America | Admin agent | $325 | $175MM term loan A/$150MM revolver | ||
| 5/23/2022 | Kolibri Global Energy | Energy | BOK Financial | Lender | $75 | Revolver | ||
| 5/24/2022 | Rotolo Consultants | Landscaping | Gibraltar Business Capital | Lender | $12 | To support ongoing working capital needs | ||
| 5/24/2022 | Curtiss-Wright | Manufacturing | J.P. Morgan | Admin agent | $750 | Revolver | For general corporate purposes | |
| 5/24/2022 | ZenFi Networks | Digital Infrastructure | TD Securities, Regions Securities, Société Générale | Lenders | $175 | To refinance existing debt and support continued growth | ||
| 5/24/2022 | Responsible Energy Operations | Mining | MidCap Business Credit | Lender | $12 | |||
| 5/26/2022 | PBF Energy | Oil & Gas | Bank of America | Admin agent | $4,300 | Revolver | Multi-year extension made up of two tranches | |
| 5/27/2022 | Zebra Technologies | Technology | J.P. Morgan and Wells Fargo | Co-left lead arrangers | $3,250 | $1.75B term loan/$1.5B revolver | To fund pending acquisition of Matrox Imaging | |
| 6/1/2022 | TELA Bio | Medical Tech | MidCap Financial | Lender | $50 | |||
| 6/1/2022 | Silk Road Medical | Healthcare | Oxford Finance | Lender | $250 | $200MM term loan/$50MM revolver | Partially to retire existing facility | |
| 6/1/2022 | Cvent | Software | PNC | Lender | $500 | Revolver | Replaces prior facility | |
| 6/2/2022 | U.S. Steel | Metal Production | JPMorgan Chase | Admin agent | $1,750 | Sustainability-linked credit facility | ||
| 6/2/2022 | Acme United | Consumer and Industrial Products | HSBC | Lender | $65 | Revolver | Increase to previous facility | |
| 6/2/2022 | Cannara Biotech | Cannabis | BMO | Lender | $50 | Term loan | To repay and close all debt associated with previous credit facility and to invest capital into its Valleyfield facility | |
| 6/2/2022 | Selux Diagnostics | Medical Devices | Oxford Finance | Lender | $30 | Term loan | To fund the commercialization of the company’s NGP rapid antimicrobial susceptibility testing platform | |
| 6/3/2022 | Shryne Group | Cannabis | Silver Spike Investment | Co-leader | $170 | Term loan | ||
| 6/3/2022 | Raven Engineered Films | Specialty Plastics | Comvest Credit Partners | Admin agent | $175 | To support the acquisition of Raven in a corporate carve-out from CNH Industrial by Industrial Opportunity Partners | ||
| 6/3/2022 | Standard Motor Products | Automotive Parts | JPMorgan Chase | Agent | $500 | $400MM revolver/$100MM term loan | To repay existing facility, pay expenses in connection with the new credit facility and for general corporate purposes | |
| 6/6/2022 | Bob’s Stores and Eastern Mountain Sports | Retail | MidCap Financial | Lender | $60 | $50MM revolver/$10MM term loan | To support GoDigital Media Group’s acquisition of Bob’s and EMS and for working capital | |
| 6/7/2022 | Archaea Energy | Natural Gas | Comerica Bank | Admin agent | $920 | $520MM revolver/$400MM term loan | To finance capital expenditures and for working capital and/or other general corporate purposes | |
| 6/8/2022 | Northern Oil and Gas | Oil & Gas | Wells Fargo | Admin agent | $1,300 | Revolver | $450MM borrowing base increase | |
| 6/8/2022 | Crozier Welding | Equipment Manufacturing | MidCap Business Credit | Lender | $5 | |||
| 6/8/2022 | Tuesday Morning | Retail | Gordon Brothers | Lender | $10 | Term loan | To refinance and pay off existing debt and for working capital purposes | |
| 6/8/2022 | HireRight Holdings | Staffing Support Services | Bank of America | Admin agent | $145 | Revolver | ||
| 6/9/2022 | SMART Financial | Pawn Shops | Comvest Credit Partners | Admin agent | $68 | To refinance existing debt and fund further growth | ||
| 6/9/2022 | KLA | Technology | JPMorgan Chase | Admin agent | $1,500 | Sustainability-linked revolver | ||
| 6/10/2022 | DarioHealth | Healthcare | OrbiMed | Lender | $50 | Term loan | To fund development | |
| 6/10/2022 | Snowden Lane Partners | Wealth Advisory | ORIX | Lender | $50 | To support growth | ||
| 6/10/2022 | Freepoint Commodities | Commodity Financing | BNP Paribas | Admin agent | $2,630 | Revolver | ||
| 6/14/2022 | DHI Group | Software | JPMorgan Chase | Admin agent | $100 | Revolver | ||
| 6/14/2022 | Castleton Commodities International | Commodity Trading | BNP Paribas | Admin agent | $2,200 | Borrowing base facility | ||
| 6/15/2022 | Spire Global | Space Services | Blue Torch Capital | Lender | $120 | |||
| 6/15/2022 | Metaltec Steel Abrasive Company | Metal Manufacturing | Fifth Third Business Capital | Lender | $19.5 | |||
| 6/15/2022 | Goodnight Midstream | Water Infrastructure | Wells Fargo | Lender | $100 | Revolver | ||
| 6/15/2022 | H-D Advanced Manufacturing Company | Manufacturing | MidCap Financial | Lender | $30 | Revolver | To refinance a prior facility and for working capital | |
| 6/16/2022 | Hercules Capital | Financial Services | MUFG Bank | Lender | $545 | Expansion of previous facility | ||
| 6/16/2022 | Hercules Capital | Financial Services | Sumitomo Mitsui Banking Corporation | Lender | $175 | Expansion of previous facility | ||
| 6/16/2022 | Mills Products | Manufacturing | Huntington Business Credit | Lender | $13.5 | To provide acquisition financing and ongoing working capital growth financing | ||
| 6/16/2022 | Lucid Group | Car Manufacturing | Bank of America | Admin agent | $1,000 | Revolver | ||
| 6/17/2022 | Kane Biotech | Biotechnology | Pivot Financial | Lender | $4 | For funding research and development and general working capital | ||
| 6/20/2022 | Whole Earth Brands | Food & Drink | TD Securities | Agent | $125 | Revolver | ||
| 6/21/2022 | OppFi | Financial Technology | Atalaya Capital Management | Lender | $200 | To further fund receivables growth and refinance existing debt | ||
| 6/22/2022 | U.S. Physical Therapy | Healthcare | Bank of America | Admin agent | $325 | $175MM revolver/$150MM term loan | ||
| 6/22/2022 | Koppers | Wood Products | PNC and Wells Fargo | Admin agents | $850 | $800MM revolver/$50MM swingline facility | ||
| 6/24/2022 | Dhanani Group | Restaurant Franchises | Monarch Alternative Capital | Lender | $500 | Secured bank loan | To support existing business and future growth | |
| 6/24/2022 | Reveam | Food Safety Tech | Bay Point Advisors | Lender | $10 | Line of credit | ||
| 6/24/2022 | Producers Midstream | Oil & Gas | Texas Capital Bancshares, Bank of Oklahoma, Cadence Bank | Lenders | $200 | Syndicated facility | ||
| 6/27/2022 | Mercuria Energy Trading | Energy and Commodities | D.Z. Bank | Mandated lead arranger | $2,170 | Multi-currency revolvers | ||
| 6/27/2022 | Stepan Company | Chemical Manufacturing | JPMorgan Chase, BofA Securities | Joint lead arrangers | $450 | $350MM multi-currency revolver/$100MM delayed draw term loan | To make unsecured borrowings for working capital, acquisitions, capital expenditures and general corporate purposes | |
| 6/27/2022 | Acerus Pharmaceuticals | Pharmaceuticals | First Generation Capital | Lender | $37.9 | For ongoing general working capital | ||
| 6/28/2022 | Waldencast Acquisition | SPAC | JPMorgan Chase | Admin agent | $225 | Term loan and revolver | Part of $1.02B financing package | |
| 6/28/2022 | FLEETCOR Technologies | Business Payments | Bank of America | Admin agent | $4,500 | $3B term loan/$1.5B revolver | $490MM increase | |
| 6/29/2022 | Luna Innovations | Fiber Optic-Based Tech | PNC | Lender | $35 | $20MM term loan/$15MM revolver | ||
| 6/29/2022 | Rand Capital | BDC | M&T Bank | Lender | $25 | Revolver | For future portfolio investments | |
| 6/30/2022 | Evolent Health | Healthcare | Ares Management | Lender | $225 | To support acquisition of IPG | ||
| 6/30/2022 | Alcoa | Aluminum | JPMorgan Chase | Admin agent | $1,250 | Revolver | Includes sustainability-linked metrics | |
| 6/30/2022 | Interactions | Technology | Runway Growth Capital | Lender | $50 | Term loan | To refinance existing debt and provide growth and working capital | |
| 6/30/2022 | Business Interiors | Furniture | Cadence Business Finance | Lender | $11.25 | |||
| 6/30/2022 | PRO Unlimited Global Solutions | Workforce Management | Citizens | Lender | $1,800 | $1.66B revolver/$140MM FILO | To support acquisition of Geometric Results |