PBF Energy completed a multi-year extension of its asset-based revolving credit facility, with an aggregate commitment of $4.3 billion. Bank of America is the joint lead arranger, joint bookrunner and administrative agent for the 35-bank syndicate participating in the credit facility.
AMETEK completed an amended and restated revolving credit facility, increasing the size from $1.5 billion to $2.3 billion. JPMorgan Chase Bank, Bank of America, PNC Bank, Truist Bank and Wells Fargo Bank, acted as joint lead arrangers and joint book managers for the credit facility.
Smith Micro Software entered into a secured revolving credit facility with Wells Fargo Bank. This revolving line of credit provides the company with borrowings of up to $7 million that can be utilized to finance the company’s working capital requirements and other general corporate purposes.
Tenaska Marketing Ventures, the natural gas marketing affiliate of Tenaska, completed a renewal and increase of its committed borrowing base facility that provides up to $2 billion for a four-year term maturing in March 2026.
Select Energy Services transitioned its existing asset-backed loan facility into a sustainability-linked loan facility, while extending the facility through March of 2027. Wells Fargo Bank was the lead arranger for the facility.
Group 1 Automotive completed a $2 billion five-year revolving syndicated credit facility with 21 financial institutions, including U.S. Bank, Bank of America and JPMorgan Chase.
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.
Liquidity Services entered into a new credit facility with Wells Fargo Bank providing revolving loans up to a maximum aggregate principal amount of $25 million with a $10 million sublimit for standby letters of credit.
Progress, a provider of products to develop, deploy and manage high-impact applications, entered into an amended secured credit facility in the aggregate amount of $575 million. JPMorgan Chase Bank acted as administrative agent for the transaction.
Nabors Industries closed a secured $350 million revolving credit facility. Institutions participating in the credit facility are Citibank, Goldman Sachs Bank, HSBC Bank, Morgan Stanley Senior Funding and Wells Fargo Bank. The new credit facility replaces the company’s 2018 revolving credit facility.