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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Truist, Fifth Third Bank Arrange $275MM Credit Facility for Digita Media Solutions
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Lenders/Participants
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Truist Securities [Joint Lead Arranger, Joint Bookrunner]
Truist Bank [Administrative Agent, Collateral Agent, Lender, Issuing Agent]
Fifth Third Bank [Joint Lead Arranger, Joint Bookrunner]
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Structure
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Senior Secured Credit Facility
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Amount
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$275.000
Million
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Borrower(s)
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Digital Media Solutions
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Description
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A new $275 million five-year senior secured credit facility, which consists of term loans in an aggregate principal amount of $225 million and a $50 million revolving credit facility. Proceeds from the term loans were used to repay and terminate the previous $220 million senior secured credit facility, which consisted of term loans in an aggregate principal amount of $205 million and a $15 million revolving credit facility. At closing, the new revolver was undrawn. The new credit facility provides increased borrowing capacity, a new five-year tenor and lower amortization, along with greater strategic and operational flexibility. The revolving facility can be used to finance working capital needs, permitted acquisitions and investment, capital expenditures, and general corporate purposes. The new credit facility is governed by a maximum net leverage covenant of 5.00x, with a step down to 4.50x over time.
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Industry
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Media
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| Related Tags |
Fifth Third Bank, Truist Bank, Truist Securities
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ABL Advisor
Deal Tables
2024
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