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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
JPMorgan, CIBC Arrange $500MM Global Revolving Credit Facility for Converge
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Lenders/Participants
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JPMorgan Chase Bank [Joint Lead Arranger]
Canadian Imperial Bank of Commerce [Joint Lead Arranger]
The Bank of Nova Scotia [Participant]
Toronto Dominion Bank [Participant]
Bank of Montreal [Participant]
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Structure
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Refinance - Global Revolving Credit Facility
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Amount
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$500.000
Million
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Borrower(s)
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Converge Technology Solutions
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Description
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Company refinanced its existing $300 million ABL credit facility with a new five-year $500 million global revolving credit facility. The Global Credit Facility also includes an uncommitted accordion feature of $100 million, for a total borrowing capacity of up to $600 million. It will allow the Company to borrow in certain foreign currencies to fund Converge’s ongoing expansion globally, and the cost of borrowing and flexibility will be more favorable than the current ABL. Generally, for U.S. dollar borrowings under the credit facility, the applicable interest rate will be based on SOFR rate plus applicable margin of 1.25% to 2.25%.
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Industry
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Technology
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| Related Tags |
Bank of Nova Scotia, Canadian Imperial Bank of Commerce, JPMorgan Chase Bank, Toronto Dominion Bank
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ABL Advisor
Deal Tables
2025
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