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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
BMO Bank Agents Vintage Wine Estates’ Amended Credit Agreement
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Lenders/Participants
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BMO Bank [Administrative Agent]
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Structure
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$200MM Delayed Draw Term Loan; $38MM Revolving Credit Facility
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Amount
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$238.000
Million
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Borrower(s)
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Vintage Wine Estates
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Description
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Amended its credit agreement to, among other things, waive existing events of default, redefine financial covenants and allow for additional asset sales. In exchange for the waiver of defaults and financial covenant modifications, the Amended Credit Agreement, among other things, reduces the aggregate revolving commitment and the aggregate delayed draw term loan commitment to $200 million and $38.1 million respectively, requires term loan prepayments of $10 million by March 31, 2024, an additional $10 million by June 30, 2024 and an additional $25 million by December 31, 2024. In addition, the Company will be required to make prepayments with any cash on hand in excess of $20 million and suspends the exercise of any incremental facilities through December 31, 2024. The rates under the Amended Credit Agreement are initially SOFR plus 3%.
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Industry
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Wine Production
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Location
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CA
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| Related Tags |
BMO Bank
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ABL Advisor
Deal Tables
2025
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