The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
PNC Bank, TCW Direct Lending Provide $170MM Financing to Quantum
Lenders/Participants
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PNC Bank [Lender] TCW Direct Lending [Lender]
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Structure
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$80MM Revolver w/ $20MM Accordion; $70MM Term Loans
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Amount
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$170.000
Million
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Borrower(s)
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Quantum Corp.
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Description
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Facilities consist of an $80 million revolving credit facility and an additional $20 million credit line available under an accordion feature, both with PNC, a $50 million term loan with TCW that will be drawn upon closing, and a $20 million delayed draw term loan with TCW available through Dec. 31, 2017.Quantum will use the proceeds of the financing to pay off the approximately $60 million drawn on its former revolving credit facility with Wells Fargo Capital Finance and to address Quantum's $70 million of convertible notes maturing in November 2017. In addition, the company will use the financing for general working capital purposes.
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Industry
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Technology
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Related Tags |
PNC Bank, TCW Direct Lending
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ABL Advisor
Deal Tables
2024
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