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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
TPC Group Upsizes Credit Facility with Riverstone Capital Partners
Tuesday, December 19, 2017
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Lenders/Participants
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Riverstone Capital Partners, L.P. [Lender]
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Structure
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Term Loan Upsize, Extension
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Amount
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$65.000
Million
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Borrower(s)
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TPC Group
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Description
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The amendment immediately increases availability to the Company under the Credit Agreement from $50 million to $65 million, includes an accordion that will increase availability to $75 million before year-end and extends the maturity from January 2019 to December 2020. In January 2016, TPC and its subsidiaries entered into the Credit Agreement, which provided for a delayed draw term loan of up to $50 million and a three-year term. The Company drew $25 million on the original closing date. Under the original Credit Agreement, TPC’s ability to draw the additional commitments would have expired on January 15, 2018. This amendment increases the Credit Agreement to $75 million, extends the date for TPC to draw additional funds to December 18, 2019 and extends the maturity of drawn loans to December 18, 2020. At closing of the amendment, the Company drew an additional $25 million, which it used primarily to repay borrowings on its ABL Credit Facility.
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Industry
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Chemicals
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Location
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TX
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| Related Tags |
L.P., Riverstone Capital Partners
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ABL Advisor
Deal Tables
2025
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