Pathlight Capital served as the administrative agent on a $355 million senior secured credit facility for iFIT Health & Fitness, a provider of connected fitness and interactive content.
Armstrong Flooring amended its asset-based lending credit facility and term loan facility. In conjunction with the term loan amendment, Pathlight Capital, Armstrong Flooring’s current term loan lender, provided the company an additional $35 million aggregate principal amount of term loans.
JCPenney paid off its $506 million term loan and completed a refinancing of its asset-based loan and first in, last out facilities. Wells Fargo and PNC led the refinanced ABL facility, which totals $.175 billion, while Pathlight Capital led the FILO facility, which totals $340 million.
Pathlight Capital closed its sophomore funds, Pathlight Capital Fund II and Pathlight Capital Offshore Fund II, with $1.16 billion of capital commitments.
Pathlight Capital is serving as agent on a $50 million senior secured delayed-draw term loan facility for My Alarm Center, a provider of security and smart home automation solutions for residential and small business customers.
Wells Fargo provided an ABL facility and Pathlight Capital provided a FILO facility for a total of $1.5 billion in financing for JCPenney after the company sold its retail and operating assets to Simon Property Group and Brookfield Asset Management to exit Chapter 11.
Pathlight Capital provided a $150 senior secured term loan facility for HBC, a holding company of portfolio businesses operating at the intersection of retail and real estate, including HBC Properties and Investments, Saks Fifth Avenue, Hudson’s Bay and Saks OFF 5TH.
Pathlight Capital is serving as administrative agent on a $180 million senior secured credit facility for Christmas Tree Shops, a brick-and-mortar discount retailer with a focus on seasonal products, to finance the company’s acquisition by Handil Holdings.
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.