The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Wintrust Financial Provides $12MM Credit Facility to Better Choice
Wednesday, January 13, 2021
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Lenders/Participants
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Wintrust Financial [Lender]
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Structure
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Credit Facility
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Amount
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$12.000
Million
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Borrower(s)
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Better Choice Company
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Description
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A new $12.0 million long-term credit facility at LIBOR plus 250 basis point interest rate. Under the terms of this new agreement, Better Choice will simultaneously refinance all existing indebtedness with Citizens Bank and Bridging Finance, which currently totals approximately $13.3 million. In aggregate, this will reduce annual cash interest payments to approximately $300 thousand per year, representing an annual savings of more than $2.0 million relative to 2020, and a blended rate reduction of more than 5%.
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Industry
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Specialty Industries
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| Related Tags |
Wintrust Financial
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ABL Advisor
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2021
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