DataBank closed its initial recapitalization led by Swiss Life Asset Management AG, EDF Invest, Northleaf Capital Partners and Ardian. Structured as a sale of ownership interests from existing investors for $1.5 billion, the new investor consortium will now own 35% of the fully-diluted equity interests in DataBank.
UMB Bank is serving as administrative agent for an amended $1.5 billion senior secured warehouse facility for two entities jointly established by Griffin Global Asset Management and Bain Capital Credit.
Hersha Hospitality Trust closed on the refinancing of a $500 million senior secured credit facility and the closing of the first tranche of six of the previously announced disposition of seven non-core Urban Select Service properties.
Airbase, a spend management platform for mid-market and enterprise companies, completed $150 million in debt financing led by Goldman Sachs. This latest funding will allow Airbase to expand its innovative charge card program to its increasing base of customers.
Hercules Capital increased its existing credit facilities with MUFG Bank and Sumitomo Mitsui Banking Corporation from a combined $500 million to $720 million, subject to a borrowing base, leverage and other restrictions.
HireRight Holdings amended and upsized its revolving credit facility, increasing the committed line under the revolving facility to $145 million. Goldman Sachs, Royal Bank of Canada and Barclays joined the syndication, which is led by Bank of America as administrative agent.
Deserve, a venture-backed financial technology company expanding and powering the real-time credit card economy, secured a new $250 million credit facility with Goldman Sachs, Cross River and Waterfall Asset Management.
Goldman Sachs Supports Allegion’s Acquisition of Stanley Black & Decker’s Access Technologies Business
Allegion agreed to acquire Stanley Access Technologies and assets related to the automatic entrance solutions business from Stanley Black & Decker for $900 million. Allegion obtained fully committed financing from Goldman Sachs to support the deal.
ProPetro extended its existing asset-based loan facility to a five-year term with a reduction of commitments from $300 million to $150 million.
Club Car entered into a definitive agreement to acquire Garia, a Denmark-based manufacturer of electric low-speed vehicles for the utility, consumer and golf markets, from Lars Larsen Group. Goldman Sachs is leading the debt financing on the transaction.