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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Gordon Brothers Finance Inks $50MM Term Loan for Stein Mart
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Lenders/Participants
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Gordon Brothers Finance Company, LLC [Lender]
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Structure
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Term Loan
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Amount
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$50.000
Million
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Borrower(s)
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Stein Mart, Inc.
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Description
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In connection with entering into the Term Loan, the Company amended its existing Second Amended and Restated Credit Agreement with Wells Fargo, National Association as administrative agent to provide for the repayment of the existing $25 million first-in, last-out (FILO) A-1 Tranche of the Credit Facility. All other key terms of the Credit Facility remain unchanged. All of the proceeds from the Term Loan were used to pay down borrowings under the Credit Facility, including the A-1 Tranche. This increases unused availability under the Credit Facility by up to $25 million. The Term Loan will mature on the earlier of the termination date of the Credit Facility (currently February 3, 2020) and March 14, 2020.
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Industry
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Retail
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| Related Tags |
Gordon Brothers Finance Company
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ABL Advisor
Deal Tables
2024
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