According to an 8K filed with the SEC, CIT Finance and Jefferies Finance approved an extension to the existing forbearance agreements on J.Jill’s ABL and term loan credit facilities. The forbearance period was extended from July 23 to July 30.
According to an 8K filed with the SEC, J.Jill J.Jill and its lenders amended the company’s existing forbearance agreements on facilities for which CIT Finance and Jefferies Finance are serving as administrative agents.
Omnichannel retailer and women’s apparel brand J.Jill announced a number of actions in response to the continued spread of COVID-19, including a draw down of $33 million from its $40 million secured revolving credit facility with CIT Finance as administrative agent.
Independence Contract Drilling extended its existing credit facility with a syndicate of financial institutions led by CIT Finance by two years. A $65 million accordion feature was also added to the facility.
Hemisphere Media Group successfully extended its existing $213 million senior secured term loan B to February 2024. JPMorgan Chase served as administrative agent for the transaction.
Independence Contract Drilling amended its existing senior secured revolving credit facility agented by CIT. Commitments were reduced to $85 million with an uncommitted $25 million accordion feature.
Rush Enterprises entered into an amendment with a lender group led by GE Capital Commercial as administrative agent for a facility that will provide $850 million to finance the company’s purchase of vehicle inventory and working capital.
ExteNet Systems said Digital Bridge Holdings and Stonepeak Infrastructure Partners have committed or arranged for over $1 billion in a recap of the company. SunTrust Robinson Humphrey was said to be administrative agent for the debt financing.
Nuverra Environmental Solutions announced it revised its existing revolver to increase the maximum availability under the Revised Facility from $200 million to $245 million.
Waypoint Leasing announced it closed on a five-year $335 million revolver. Credit Suisse acted as joint lead arranger, joint bookrunner and administrative agent.