Bank of America acted as sole lead arranger on an amendment to a senior secured asset-based revolving credit facility while Pathlight Capital acted as sole lead arranger for a new $70 million term loan for Armstrong Flooring.
Pier 1 Imports is seeking bankruptcy court approval for a wind-down of its retail operations. The company’s DIP lenders, including Bank of America and Pathlight Capital, agreed to allow Pier 1 to overdraw the DIP facility by approximately $40 million to support continued operations.
Bank of America served as administrative agent and collateral agent for the $256 million DIP revolver for Pier 1 Imports. Pathlight served as agent for the DIP term loan.
Pier 1 Imports has entered into a Plan Support Agreement with a majority of its term loan lenders and is pursuing a sale of the company.
Wells Fargo Bank acted as administrative agent, collateral agent and term loan agent on a new $25 million term loan for Stage Stores, bringing the total availability under the company’s senior secured revolver to $475 million.
Summer Infant closed a $60 million asset-based revolving credit facility with Bank of America and a $17.5 million term loan with Pathlight Capital.
Summer Infant amended and extended its $60 million asset-based revolving credit facility with Bank of America and committed to a $17.5 million term loan with Pathlight Capital.
To support acquisition by Fred’s of 865 Rite Aid stores, Bank of America, Merrill Lynch and Regions Capital have provided $1.05 billion of committed ABL financing.
Pathlight Capital hired David Helmes as managing director. Helmes, who will be based in New York, NY, will focus on sourcing first and second lien financing solutions for companies operating in a variety of industries.
Lightyear Capital has acquired a majority stake in Pathlight Capital, a commercial finance company focused on providing asset-based loans to companies in the consumer and retail sector.