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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
M&T Bank Closes New $150MM Syndicated Revolving Credit Facility with Transcat
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Lenders/Participants
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M&T Bank Corporation [Lead Lender]
Wells Fargo Bank [Lender]
Bank of America [Lender]
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Structure
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Revolving Credit Facility
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Amount
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$150.000
Million
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Borrower(s)
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Transcat
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Description
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A new 5-year $150 million secured credit facility with a syndicate led by Manufacturers and Traders Trust Company (“M&T”) and includes additional lenders Wells Fargo Bank and Bank of America, replacing the existing $80 million credit facility with M&T which has been terminated. M&T and Wells Fargo are joint lead arrangers and joint bookrunners.
The new credit facility includes a $150 million revolving credit facility (“Credit Facility”). Borrowing options under the Credit Facility include a revolving loan option, a swingline loan option, and letters of credit, each of which is provided on a committed basis, and now permits a temporary increase to the leverage ratio covenant in the event of a material permitted acquisition. Any Base Rate Loan or Swingline Loan under the Credit Facility will bear interest at the Base Rate plus the Applicable Margin. Any SOFR Loan will bear interest at the daily simple SOFR rate plus the Applicable Margin. Borrowings under the credit facility may be used to refinance the replaced facility, for permitted acquisitions, and to provide for working capital and general corporate purposes.
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Industry
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Specialty Industries
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Location
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NY
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| Related Tags |
M&T Bank
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ABL Advisor
Deal Tables
2025
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