Gibson Brands has completed a new round of refinancing, securing a new series of loans.
Investment bank B. Riley, serving as financial advisor to the Company, organised a new five-year, $55 million domestic ABL Facility, a new six-year, $70 million Last-Out Domestic Term Loan, and a new six-year, $60 million International Term Loan.
Bank of America is serving as the administrative agent and the sole lender on the new $55 million Domestic ABL Facility. Funds managed by GSO Capital Partners provided financing for the new Last-Out Domestic Term Loan and the new International Term Loan.
The Refinancing provides additional working capital and extinguished the Company’s existing domestic and international ABL facilities, as well as other third party debt.
