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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
JPMorgan Chase Leads $400MM Revolving Credit Facility for Penguin Solutions
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Lenders/Participants
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JPMorgan Chase Bank [Lead Lender]
Citizens Bank [Joint Lead Arranger]
PNC Bank [Joint Lead Arranger]
Santander Bank [Joint Lead Arranger]
Fifth Third Bank [Co-Documentation Agent]
Goldman Sachs Bank USA [Co-Documentation Agent]
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Structure
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Revolving Credit Facility
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Amount
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$400.000
Million
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Borrower(s)
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Penguin Solutions
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Description
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A $400 million revolving credit facility, which includes a $35 million letter of credit subfacility. The transaction refinances and replaces the $300 million Term Loan A Facility due 2027 and the $250 million Revolving Credit Facility due 2027 (collectively, the “Existing Credit Facilities”). The Existing Credit Facilities were repaid and terminated in connection with the transaction. The Credit Facilities closed on June 24, 2025, and the Company borrowed $100 million under the new Revolving Credit Facility. The Company repaid in full the $300 million outstanding under the Existing Credit Facilities with a mix of the $100 million in borrowings under the Credit Facilities and $200 million in available cash, reducing the Company’s funded debt by $200 million. The Credit Facilities mature in 2030. Interest on the Credit Facilities will be based on a Total Net Leverage grid, with the initial interest rate being the Secured Overnight Financing Rate (“SOFR”) plus 1.75%.
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Industry
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Technology
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| Related Tags |
Bank of America Securities, Citizens Bank, Fifth Third Bank, Goldman Sachs Bank USA, JPMorgan Chase Bank, PNC Bank, Santander Bank
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ABL Advisor
Deal Tables
2025
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