Industrial Logistics Properties Trust closed on a $1.235 billion debt financing with a final maturity date of Oct. 9, 2027. The financing is secured by a portfolio of 104 industrial properties containing approximately 18.6 million square feet across 31 states.
Lucid Group entered into a credit agreement on June 9 with a syndicate of banks providing a secured asset-based revolving credit facility with an initial committed amount of up to $1 billion. Bank of America is the administrative agent and swingline lender.
AppLovin, a marketing software company, closed a seven-year, $1.5 billion term loan. JPMorgan Chase Bank, BofA Securities, KKR Capital Markets, Citigroup, Credit Suisse Loan Funding, Goldman Sachs Bank, Morgan Stanley Senior Funding and UBS Securities acted as joint lead arrangers for the facility.
CCC Intelligent Solutions completed the refinancing of its existing secured credit facility with a new credit agreement. Bank of America, JPMorgan Chase, Goldman Sachs, Citigroup, Barclays, Credit Suisse, Jefferies Finance and Morgan Stanley acted as joint lead arrangers and joint bookrunners for the facility.
Horizon Technology Finance appointed Daniel S. Devorsetz COO, effective immediately. In addition, Horizon Technology Finance concurrently appointed Devorsetz COO of its external investment advisor, Horizon Technology Finance Management.
Eagle Point Credit Management appointed Nate Morse head corporate trader. Morse has more than 20 years of industry experience. Prior to joining Eagle Point Credit Management, he spent five years as a credit trader at Aristeia Capital.
The banking app Dave and VPC Impact Acquisition Holdings, a special purpose acquisition company sponsored by Victory Park Capital, entered into a business combination agreement that will result in Dave becoming a publicly traded company with an expected equity value of approximately $4 billion.
Owl Rock Capital Group and the Dyal Capital Partners division of Neuberger Berman Group entered into a definitive business combination agreement with Altimar Acquisition Corporation to form Blue Owl Capital, an alternative asset management firm with more than $45 billion in assets under management.
A syndicate of banks including Citi, UBS Investment Bank, Credit Suisse and BNP PARIBAS committed to provide exit financing to the KPS Capital stalking horse acquisition vehicle to acquire Garrett Motion in a recently filed Chapter 11 case.
Taira Hall joined Pacific Western Bank as the executive vice president of products and partnerships. Hall previously worked at Visa Business Solutions, Citigroup and Deloitte Consulting.