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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
BMO Harris Bank Agents Revolver Downsize, Extension for Titan International
Friday, February 26, 2021
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Lenders/Participants
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BMO Harris Bank [Agent]
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Structure
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Revolver Downsize
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Amount
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$100.000
Million
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Borrower(s)
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Titan International
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Description
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On February 25, 2021, the Company amended and extended the Credit and Security Agreement (the Agreement), dated as of February 17, 2017 (as amended), with agent BMO Harris Bank. and other financial institutions with respect to its $125 million revolving credit facility (the Credit Facility). The amended Credit Facility was extended for one year with the new maturity occurring on February 16, 2023. The amount available to be borrowed under the amended Credit Facility was reduced to $100 million at the Company's request to better align with the current borrowing base consisting of eligible accounts receivable and inventory balances at certain of its domestic subsidiaries. The amended Credit Facility can be expanded through an accordion provision within the Agreement by up to $50 million. The amended Agreement otherwise has terms substantially similar to those contained in the Agreement prior to the amendment.
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Industry
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Automotive
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| Related Tags |
BMO Harris Bank
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ABL Advisor
Deal Tables
2025
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