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SELECTED TRANSACTION DETAILS
Bank Syndicate Amends, Upsizes Senior Credit Facilities for AirBoss
Friday, September 24, 2021

Lenders/Participants Toronto Dominion Bank [Sole Lead Arranger]
National Bank of Canada [Lender, Lender]
Comerica Bank [Lender]
J.P. Morgan Bank [Lender]
Bank of Montreal [Lender]
Canadian Imperial Bank of Commerce [Lender]
Royal Bank of Canada [Lender]
Structure Revolving Credit Facility
Amount $250.000 Million
Borrower(s) AirBoss of America
Description Company updated its senior secured credit facilities with an expanded syndicate of major banks to increase the available size, extend the maturity date, and provide the Company with improved terms, lower pricing and increased flexibility. Key changes include the following: Increased revolving credit availability to USD$250 million (from USD $150 million) with an accordion of USD $75 million (from USD $50 million); Elimination of the Company’s amortizing term loan; The maturity date is now September 23, 2026; No principal payments prior to maturity; More flexible financial covenants and conditions related to size of permitted acquisitions. The increased facilities are intended to cover upfront working capital costs necessary to execute on the Company’s existing and potential future contracts, as well as provide increased flexibility to execute on the Company’s inorganic growth strategies.
Industry Manufacturing
Related Tags Bank of Montreal, Canadian Imperial Bank of Commerce, Comerica Bank, J.P. Morgan, National Bank of Canada, Royal Bank of Canada, Toronto Dominion Bank




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