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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Citizens Bank Closes $20MM Revolving Credit Facility with Backblaze
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Lenders/Participants
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Citizens Bank [Lender]
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Structure
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Senior Secured Revolving Credit Facility
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Amount
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$20.000
Million
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Borrower(s)
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Backblaze
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Description
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A senior secured revolving credit facility in an aggregate principal amount of up to $20.0 million, of which an aggregate amount of up to $3.0 million will be available through a letter of credit sub facility, with Citizens Bank. The new Credit Facility provides for borrowing capacity at an interest rate based upon the Company’s choice of an adjusted Secured Overnight Financing Rate (SOFR) plus an applicable margin of 3.25%, or an alternate base rate plus an applicable margin of 2.25%. The term of the loan is initially set at 2 years, with a one year extension. The Credit Facility includes customary representations, warranties, and covenants, including financial covenants, and customary closing and administrative fees.
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Industry
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Technology
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Location
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CA
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| Related Tags |
Citizens Bank
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ABL Advisor
Deal Tables
2025
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