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PNC Bank Provides $225MM to TaylorMade Golf Company, Inc.

January 05, 2018, 07:14 AM
Filed Under: Sports

PNC Bank announced that it has closed a $225 million senior secured asset-based revolving credit facility for TaylorMade Golf Company, Inc., a portfolio company of New York-based KPS Capital Partners.
Headquartered in Carlsbad, California, TaylorMade Golf is a leading manufacturer of high performance golf equipment, golf balls and accessories under the TaylorMade brand. TaylorMade is a major force on the PGA Tour and has one of the strongest athlete portfolios in golf, with five players in the current Top 12 in the Official World Golf Rankings, including Dustin Johnson, Rory McIlroy, Jason Day, Justin Rose and Jon Rahm.
TaylorMade Golf Company, Inc. will use the funds to support ongoing working capital needs. PNC Bank, N.A., served as administrative, collateral and documentation agent. PNC Capital Markets served as joint lead arranger and syndication agent.

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