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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Plug Power Signs $525MM Secured Credit Facility from Yorkville Advisors
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Lenders/Participants
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Yorkville Advisors [Lender]
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Structure
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secured Credit Facility
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Amount
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$525.000
Million
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Borrower(s)
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Plug Power
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Description
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Plug has signed a definitive agreement for a secured debt facility with Yorkville Advisors providing for the issuance of up to $525 million of secured debentures. The facility includes an initial $210 million tranche, which will be fully funded at the initial closing and additional tranches of up to $315 million. The initial tranche is expected to close on or around May 2, 2025. With the net proceeds from the initial tranche, Plug intends to use approximately $82.5 million to retire the majority of its existing convertible debenture principal outstanding with Yorkville, which has approximately 55 million associated underlying shares given the conversion price and therefore this refinancing will reduce potential dilution.
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Industry
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Energy
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Location
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NY
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ABL Advisor
Deal Tables
2025
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