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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Cantor Fitzgerald Agents $561.8MM Credit Facility for Contura Energy
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Lenders/Participants
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Cantor Fitzgerald Securities [Administrative Agent, Collateral Agent]
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Structure
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Senior Secured Term Loan
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Amount
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$561.800
Million
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Borrower(s)
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Contura Energy, Inc.
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Description
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The new facility offers Contura more flexibility to return capital to shareholders by allowing for unlimited restricted payments while the company's total leverage ratio is 3.0x or less and there is no default. The interest rate for the new term loan facility is LIBOR plus 700 basis points (bps) for the first two years after closing, increasing to LIBOR plus 800 bps thereafter, with a LIBOR floor of 2.00%. Proceeds from the transaction will be used to repay all outstanding amounts under the company's Amended and Restated Credit Agreement entered into on November 9, 2018 and to pay related fees, costs and expenses associated with the new term loan facility.
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Industry
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Energy
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Location
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TN
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| Related Tags |
Cantor Fitzgerald
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ABL Advisor
Deal Tables
2025
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