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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
JPMorgan Chase, SVB, Well Fargo Arrange $75MM Revolver for PLAYSTUDIOS
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Lenders/Participants
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JPMorgan Chase Bank [Joint Bookrunner, Joint Lead Arranger, Administrative Agent]
Silicon Valley Bank [Joint Lead Arranger, Joint Bookrunner]
Wells Fargo Securities [Joint Lead Arranger, Joint Bookrunner]
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Structure
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Revolving Credit Facility
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Amount
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$75.000
Million
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Borrower(s)
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PLAYSTUDIOS
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Description
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A new $75 million, five-year secured revolving credit facility to support its future growth initiatives. The New Credit Facility also provides the Company with an option to increase the credit facility for up to an additional $75 million. The New Credit Facility replaces the existing revolving credit facility and will mature on June 24, 2026. The interest rates are determined on the basis of either a Eurodollar rate or an Alternate Base Rate plus an applicable margin. The applicable margins are initially 2.50%, in the case of Eurodollar loans, and 1.50%, in the case of Alternate Base Rate loan and are subject to floors of 0.00% and 1.00%, respectively. The applicable margin is subject to adjustment based upon the Company's Total Net Leverage Ratio (as defined in the New Credit Facility agreement). Borrowings under the New Credit Facility may be borrowed, repaid, and re-borrowed by the Company and are available for working capital, general corporate purposes, and permitted acquisitions. The New Credit Facility agreement contains customary financial covenants as well as affirmative and negative covenants customary for transactions of this type, including limitations with respect to indebtedness, liens, investments, dividends, disposition of assets, change in business and transactions with affiliates. Loans under the New Credit Facility are secured by a perfected first priority security interest in substantially all of our tangible and intangible assets.
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Industry
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Consumer Products
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| Related Tags |
JPMorgan Chase Bank, Silicon Valley Bank, Wells Fargo Securities
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ABL Advisor
Deal Tables
2025
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