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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Royal Bank of Canada Leads Lenders in Chesswood’s Facility Increase
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Lenders/Participants
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Royal Bank of Canada [Lead Lender]
BBVA Compass [Lender]
Bank of Montreal [Lender]
National Bank of Canada [Lender]
TD Securities [Lender]
Laurentian Bank of Canada [Lender]
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Structure
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Revolver Expansion; Renewal
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Amount
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$170.000
Million
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Borrower(s)
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Chesswood Group Limited
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Description
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Chesswood Group Limited has expanded and renewed its corporate revolving credit facility for a term of three years, expiring in December 2019. The existing $150 million credit facility was due to mature in December 2017. The credit facility has been increased to $170 million and now includes a $80 million accordion feature (an increase of $30 million from the current accordion of $50 million), which would expand the facility to $250 million, if exercised. The Company has drawn $140 million under its credit facility as of the end of November. Chesswood's overall leverage remains modest following the sale of its two non-commercial finance businesses over the last year and the subsequent pay-down of this credit facility with a majority of the proceeds.
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Industry
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Lender Finance
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| Related Tags |
Bank of Montreal, Laurentian Bank of Canada, National Bank of Canada, Royal Bank of Canada, TD Securites
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ABL Advisor
Deal Tables
2024
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