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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Callodine Commercial Finance Provides $160MM Senior Credit Facility to Southland
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Lenders/Participants
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Callodine Commercial Finance [Lender]
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Structure
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Senior Secured Credit Facility
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Amount
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$160.000
Million
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Borrower(s)
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Southland Holdings
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Description
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The new facility consists of a $140.0 million initial draw term loan and a $20.0 million committed delayed draw term loan, which are due in 2028. The delayed draw is a committed facility in which Southland may request all or a portion of the delayed draw to be available to the company. From the initial total term loan proceeds of $140.0 million, approximately $96.0 million was used to refinance existing indebtedness, $37.8 million will be available for general corporate purposes, and the remaining will cover costs and expenses related to the transaction. Borrowings from the new facility were used to refinance Southland’s existing revolving credit facility balance in full and certain equipment notes. Concurrently with the closing, Southland terminated its previously existing revolving credit facility.
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Industry
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Infrastructure
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Location
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TN
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| Related Tags |
callodine Commercial Finance
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ABL Advisor
Deal Tables
2024
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