Physicians Realty Trust entered into a third amended and restated credit agreement, which, among other things, increased the amount of commitments under the revolving credit facility to $1 billion. KeyBank served as administrative agent for the amended credit facility.
L.B. Foster Company entered into a fourth amended and restated credit agreement to, among other considerations, extend the facility maturity date to Aug. 13, 2026 and increase borrowing capacity to $130 million. PNC Bank is leading the five-bank syndicate for the facility as administrative agent.
Organogenesis Holdings, a regenerative medicine company, entered into a credit agreement with Silicon Valley Bank and several other lenders. The agreement provides for a credit facility in the aggregate principal amount of $200 million.
Cantor Fitzgerald Income Trust (CFIT), an institutionally managed real estate investment trust, secured a new $100 million revolving credit facility with an accordion feature of up to $200 million. Citizens Bank led and arranged the facility.
Stonebriar Commercial Finance extended its $1 billion revolving warehouse credit facility agented by Bank of America to 2025. Mitsubishi UFJ Financial Group (MUFG) joined the facility as a new participating lender.
Asset-based lending is a versatile and attractive option for companies experiencing everything from rapid growth to inconsistent earnings, which has only been magnified by the COVID-19 pandemic. Brent Hazzard, head of asset-based lending and asset finance at Citizens Bank, outlines why ABL matters now more than ever.
MaxLinear entered into a new $350 million, seven-year senior secured term B loan facility and a new $100 million, five-year senior secured revolving credit facility. Wells Fargo Securities, MUFG Securities Americas, BMO Capital Markets and Citizens Bank acted as joint lead arrangers and bookrunners.
Frontdoor, a provider of home service plans, closed a transaction to refinance its capital structure, including entry into new credit facilities totaling $890 million with JPMorgan Chase as administrative agent.
Douglas Dynamics refinanced its existing $375 million senior secured credit facilities with a new $225 million term loan A facility and a $100 million senior secured revolving credit facility due June 2026. JPMorgan Chase Bank acted as administrative agent for the refinancing.
Citizens Bank entered into an agreement to acquire 80 East Coast branches from HSBC Bank as well as HSBC’s national online deposit business. Under the agreement, Citizens will acquire approximately $9 billion in deposits and approximately $2.2 billion in loans.