Blue Torch Capital, a New York-based private credit investment firm, closed Blue Torch Credit Opportunities Fund III and its affiliated entities with total investor commitments of $2.3 billion, exceeding its $2 billion target.
The Beachbody Company, a health and fitness company, amended certain financial covenants and other terms of its original $50 million term loan with Blue Torch Capital. As part of the amendment, The Beachbody Company is paying down $4 million in debt.
Retail apparel company Lands’ End entered into a new term loan of $260 million. The lending group for the facility includes Blue Torch Capital, Sculptor Capital Management, JPMorgan and Arbour Lane Capital Management.
B. Riley Securities, a middle-market investment bank and subsidiary of B. Riley Financial, served as advisor and placement agent to Transom Capital Group in connection with its acquisition of the professional division of Bose Corporation. B. Riley arranged financing by Blue Torch Capital in support of the acquisition.
Great Rock Capital closed a $90 million senior secured term loan facility with Astronics, an aerospace electronics corporation that provides advanced technologies to the world’s aerospace, defense and other mission critical industries.
Quotient Technology and PNC Bank closed a senior secured asset-based revolving credit facility in an initial aggregate principal amount of $50 million. Blue Torch Capital also committed to provide a senior secured term loan facility in an aggregate principal amount up to $55 million.
Spire Global, a global provider of space-based data, analytics and space services, obtained a credit facility of up to $120 million led by Blue Torch Capital.
Land’s End secured a $275 million term loan with a lending group consisting of affiliates of Fortress Investment Group, STORY3 Credit Partners and Blue Torch Capital. In addition, maximum availability under Land’s End’s ABL facility was expanded to $275 million.