Astronics amended and expanded its revolving line of credit and refinanced its term loan. The refinancing provides improved liquidity, lower cash costs and greater financial flexibility for the company.
Nabors Industries closed, on June 17, 2024, an amendment and restatement of its secured credit facility. The new $475 million facility is comprised of $350 million for revolving credit and $125 million for letters of credit.
AvAir, an inventory solutions provider for the aviation aftermarket, closed a new three-year syndicated senior credit facility led by HSBC Bank USA as administrative agent and lead arranger. The syndicate also includes First Citizens Bank and Western Alliance Bank.
Click Therapeutics, a provider of digital therapeutics as prescription medical treatments, closed on a $20 million term loan from HSBC Innovation Banking, a division of HSBC Bank USA. The term loan was partially drawn at closing, with the proceeds used to retire Click’s previous term loan.
Freepoint Commodities closed a $2.63 billion revolving bank facility. The facility consists of a $1.57 billion, three-year committed tranche and a $1.05 billion, one-year uncommitted tranche. Additionally, the facility has a $570 million accordion feature. BNP Paribas is the administrative agent for the facility.
Tetra Tech, a provider of consulting and engineering services in water, environment and sustainable infrastructure, established a $1 billion sustainability-linked credit facility. Bank of America led the lender group for the facility with joint lead arrangers Wells Fargo Bank, U.S. Bank and Bank of Montreal.
ING Capital led a $300 million syndicated financing on behalf of Auramet Trading and Auramet International, a precious metals merchant. ING acted as mandated lead arranger, bookrunner and administrative agent on the oversubscribed deal, which closed on July 30.
HSBC Bank USA, part of the HSBC Group, will begin offering sustainability-linked loans (SLL) that will enable U.S businesses to tie their borrowing to activities that support sustainability initiatives.
SYNNEX entered into a new $5 billion credit facility consisting of a $1.5 billion term loan and a $3.5 billion revolving credit facility. Citigroup Global Markets is the joint lead arranger and joint bookrunner for the new revolving credit and term loan facilities.
BofA Securities, BBVA Securities and PNC Capital Markets acted as joint lead arrangers and joint bookrunners on a three-year, $670 million secured credit facility for Diodes Incorporated.