Federal Signal, a provider of environmental and safety solutions, completed a new five-year, $800 million credit facility to replace its existing $500 million credit facility. Wells Fargo will serve as administrative agent, swingline lender and issuing lender for the facility.
PNC Bank closed a $900 million senior secured credit facility for Big Lots. PNC served as administrative agent for the facility and PNC Capital Markets served as joint lead arranger and joint bookrunner.
Avid, a technology provider that powers the media and entertainment industry, entered into an amended secured credit facility with JPMorgan Chase Bank and a syndicate of banks, including $186.7 million in senior secured term loans and a $120 million unfunded revolving line of credit.
Service Properties Trust (SVC) amended the agreement governing its revolving credit facility and exercised its option to extend its maturity date to July 2023.
Sabre Corporation refinanced a portion of its existing indebtedness. Sabre incurred no additional indebtedness as a result of the refinancing above the refinanced amount, other than amounts covering the original issue discount, certain interest, fees and expenses.
Koppers entered into a credit agreement with PNC Bank and Wells Fargo Bank for an $800 million revolving credit facility, a $50 million swingline facility and one or more incremental revolving or term loan facilities.
Protective Life Corporation and its principal subsidiary, Protective Life Insurance, closed a five-year, $1.5 billion sustainability-linked revolving credit facility, which replaces its current $1 billion revolving credit facility. Regions Bank is the administrative agent for the facility.
Diversified Healthcare Trust amended the agreement governing its revolving credit facility and exercised its option to extend its maturity date to January 2024. Wells Fargo is the administrative agent for the facility.
Ryder executed a five-year, $1.4 billion global revolving credit facility, which includes 11 global institutions and will expire on Dec. 14, 2026. BofA Securities and MUFG Bank acted as joint bookrunners and joint lead arrangers for the facility.
Installed Building Products closed a seven-year, $500 million term loan with RBC Capital Markets, BofA Securities and Goldman Sachs Bank. Royal Bank of Canada will serve as term administrative agent and term collateral agent for the new term loan.