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JPMorgan Chase Provides $50MM Senior Revolving Credit Facility to Climb Global Solutions
Wednesday, May 24, 2023

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

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