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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Castlelake Leads $235MM Senior Secured Term Loan for Oportun
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Lenders/Participants
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Castlelake L.P. [Lead Lender]
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Structure
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Secured Term Loan
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Amount
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$235.000
Million
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Borrower(s)
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Oportun
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Description
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Company entered into a Credit Agreement to refinance its existing corporate financing facility with a new $235 million Senior Secured Term Loan (“Term Loan”). The refinancing will improve Oportun’s operational and balance sheet flexibility with covenants that reflect the performance improvements made by the Company to date, including the agreement to sell the Company’s credit card portfolio, and reward accretive actions and cash flow generation. The Term Loan will be provided by two firms (the “Lenders”), funds managed by Castlelake L.P., a global alternative investment manager specializing in asset-based private credit that led the refinancing, and funds managed by Neuberger Berman, a private employee-owned investment manager. The Term Loan will carry a 15% fixed rate and mature in November 2028.
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Industry
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Lender Finance
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Location
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CA
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| Related Tags |
Castlelake, Oportun
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ABL Advisor
Deal Tables
2024
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