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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
MidCap Financial Closes $30MM Asset-Based Revolving Credit Facility for Arq
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Lenders/Participants
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MidCap Financial [Lender]
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Structure
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Asset-Based Revolving Credit Facility
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Amount
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$30.000
Million
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Borrower(s)
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Arq, Inc.
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Description
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Proceeds from the Facility are expected to be utilized to refinance Arq's outstanding CF Global Term Loan, finance ongoing growth capital expenditures and working capital requirements related to the Company's strategic growth investment at its Red River plant, as well as support general corporate purposes. Under the terms of the Facility, Arq may draw up to $30 million, based on a borrowing base equivalent to 85% of Arq's eligible accounts receivable, plus 85% of the net orderly liquidation value of eligible inventory. The Facility has a five-year term and the interest rate on the outstanding balance of the Facility will be Adjusted Term SOFR + 4.50%, subject to a SOFR floor of 2.5%.
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Industry
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Environmental Services
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Location
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CO
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| Related Tags |
Environmental, MidCap Financial, Non-bank Lender
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ABL Advisor
Deal Tables
2025
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