The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
JPMorgan Chase Provides $50MM Senior Revolving Credit Facility to Climb Global Solutions
|
Lenders/Participants
|
JPMorgan Chase Bank [Lender]
|
|
Structure
|
Senior Secured Revolving Credit Facility
|
|
Amount
|
$50.000
Million
|
|
Borrower(s)
|
Climb Global Solutions
|
|
Description
|
A new five-year, $50.0 million secured revolving credit facility with JPMorgan Chase on May 18, 2023. The amount the Company may borrow under the revolving credit facility is subject to a borrowing base calculation, with an "accordion" feature to obtain additional lender commitments to increase the facility size up to $70.0 million in the aggregate. The facility will replace the Company’s $20.0 million secured line of credit with Citibank, N.A. which was set to expire in June 2023. Under the new agreement, the interest rate on borrowings will be based on Adjusted Term SOFR plus 1.50% - 1.75%.
|
|
Industry
|
Technology
|
|
Location
|
NJ
|
| Related Tags |
JPMorgan Chase Bank
|
ABL Advisor
Deal Tables
2023
|
|
|
|