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1 | Transactions covered in Q3'26 of DEBT SERIOUS | ||||||||||||||||||||||||||
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3 | Numbers in thousands | ||||||||||||||||||||||||||
4 | Read comments for important details | ||||||||||||||||||||||||||
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6 | Lender (Agent Only) | Borrower | Sponsor | Total Debt | Term Loan | Revolver | DDTL | Other | Benchmark | Margin | Discount | Tenor | Purpose | Comments | Source | ||||||||||||
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8 | Hercules Capital | 4D Molecular Thera | Public | $ 200,000 | $ 200,000 | $ - | $ - | $ - | All-in | 8.75% | - | 5 | General | The loan is structured into multiple tranches, with each tranche being subject to the occurrence of certain milestones | www.sec.gov/Archives/edgar/data/1650648/000119312526286880/d146057d8k.htm | ||||||||||||
9 | JPMorgan | Core & Main | Public | $ 800,000 | $ 800,000 | $ - | $ - | $ - | SOFR | 1.75% | - | 7 | General | C&M also issued $750m of 6% notes to refinance a portion of its maturing term loan. The new tranche of the term loan was priced at S+1.75%, while the remaining outstanding prior tranches were priced at S+2% to S+3%. | www.sec.gov/Archives/edgar/data/1856525/000119312526294978/d150669d8k.htm | ||||||||||||
10 | BSL (N/A) | PrimeSource | ClearLake | $ 150,000 | $ 150,000 | $ - | $ - | $ - | SOFR | 4.50% | - | 5 | Acquisition | Proceeds will be used alongside a $150m ABL drawing to fund a $170m acquisition. | source: Fitch | ||||||||||||
11 | GoldenTree | Alvotech | Public | $ 75,000 | $ 75,000 | $ - | $ - | $ - | All-in | 12.50% | - | 1.5 | Upsize | Upsized from $100m (closed Dec. 2025) to $175m. | www.sec.gov/Archives/edgar/data/1898416/000117184326004413/exh_991.htm | ||||||||||||
12 | Stifel Bank | Shoulders Innovations | Public | $ 45,000 | $ 15,000 | $ 30,000 | $ - | $ - | PRIME | 0.00% | - | 5 | General & Refinance | Refinanced Trinity Capital's facility. Priced at the greater of Prime and 5% | www.sec.gov/Archives/edgar/data/1699350/000169935026000044/si-20260626.htm | ||||||||||||
13 | JPMorgan | Voyager Technologies | Public | $ 250,000 | $ 250,000 | $ - | $ - | $ - | SOFR | 2.25% - 2.75% | - | 3 | Upsize | The facility was upsized from $50m to $250m, with pricing determined by a liquidity-based grid. | www.sec.gov/Archives/edgar/data/1788060/000162828026047657/exhibit101-fourthamendment.htm | ||||||||||||
14 | Bank of America | FTI Consulting | Public | $ 1,500,000 | $ - | $ 1,500,000 | $ - | $ - | SOFR | 1.00% - 1.625% | - | 5 | Upsize | Upsized from $900m. Pricing is based on the credit rating. | www.sec.gov/Archives/edgar/data/887936/000119312526291542/fcn-20260630.htm | ||||||||||||
15 | Goldman Sachs | Proofpoint | Thoma Bravo | $ 5,000,000 | $ 5,000,000 | $ - | $ - | $ - | SOFR | 4.50% | - | 2 | Amend & Extend | Goldman is engaging lenders to amend the $5B TLB due in 2028, currently priced at SOFR + 3.00%. Pricing could increase by 100-150 bps | source: 9Fin | ||||||||||||
16 | Fortress Credit | Battalion Oil | Public | $ 162,500 | $ 162,500 | $ - | $ - | $ - | SOFR | 6.50% | - | 3.5 | Upsize | The SOFR + 6.50% pricing replaced the leverage-based SOFR + 7.75% to 8.50% pricing. | www.sec.gov/Archives/edgar/data/1282648/000110465926079612/batl-20260630x8k.htm | ||||||||||||
17 | BSL (N/A) | Imprivata | Thoma Bravo | $ 1,300,000 | $ 1,200,000 | $ 100,000 | $ - | $ - | SOFR | 3.75% | 99 | 2.5 | Amend & Extend | 2-year maturity extension and pricing increase from SOFR + 3.00% to SOFR + 3.75%. | www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3590945 | ||||||||||||
18 | BSL (N/A) | Birdsboro Power | Strategic Value | $ 450,000 | $ 450,000 | $ - | $ - | $ - | SOFR | 3.75% | - | 7 | Acquisition | The term loan will finance Strategic Value Partners' acquisition of the remaining 66.7% stake in the 485 MW PJM natural gas facility. | source: Fitch | ||||||||||||
19 | Bank of America | Carrix | Blackstone | $ 3,000,000 | $ 2,500,000 | $ - | $ 500,000 | $ - | SOFR | 2.00% - 2.25% | 99.5 | 7 | Dividend & Refinance | Proceeds from the transaction will be used to refinance existing debt, fund a distribution to shareholders. | https://finance.yahoo.com/markets/stocks/articles/carrix-launches-3b-loan-financing-113625009.html | ||||||||||||
20 | Truist | Malibu Boats | Public | $ 350,000 | $ 100,000 | $ 250,000 | $ - | $ - | SOFR | 1.25% - 2.00% | - | 5 | Refinance | Leverage-based grid; includes an incremental $100m facility, subject to leverage being below 2.5x and lender approval. | www.sec.gov/Archives/edgar/data/1590976/000159097626000029/mbuu-20260710.htm | ||||||||||||
21 | Wells Fargo | Everforth | Public | $ 600,000 | $ - | $ 600,000 | $ - | $ - | SOFR | 1.75% - 2.75% | - | 5 | Upsize | The facility was upsized from $500m to $600m, and its maturity was extended by 3.5 years. | www.sec.gov/Archives/edgar/data/890564/000089056426000045/asgn-20260709.htm | ||||||||||||
22 | Mitsubish UFJ | Aditya Birla | Private | $ 1,500,000 | $ 1,500,000 | $ - | $ - | $ - | SOFR | 1.60% | - | 5 | Acquisition | To fund the acquisition of Shell's renewable energy assets in India. | www.bloomberg.com/news/articles/2026-07-14/india-s-birla-taps-mufg-for-1-5-billion-shell-acquisition-loan | ||||||||||||
23 | BSL (N/A) | ABB Robotics | Public (spin-off) | $ 2,080,000 | $ 1,750,000 | $ 330,000 | $ - | $ - | SOFR/Euribor | 4.00% / 4.25% | - | - | Acquisition | ABB Robotics launched a $600m U.S. dollar, $1.15 billion equivalent euro term loan, and $330m RCF at S/E+400-425 bps to fund SoftBank $5.375B acquisition | https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3591514 | ||||||||||||
24 | JPMorgan | QTS Data Centers | Blackstone | $ 3,250,000 | $ 3,250,000 | $ - | $ - | $ - | SOFR | 2.25% | 99.5 | 7 | Refinance | Proceeds will be used to repay existing debt under construction credit facilities, fund a debt service reserve account to the extent not satisfied by an acceptable letter of credit, and for general corporate purposes | https://pitchbook.com/news/articles/blackstones-qts-secures-upsized-3-25b-leveraged-loan | ||||||||||||
25 | Pharmakon Advisors | Kestra Medical | Public | $ 200,000 | $ 200,000 | $ - | $ - | $ - | SOFR | 5.50% | 98.25 | 5 | General & Refinance | Structured as four separate tranches, with the first $75m funded at closing and the remaining tranches subject to milestone achievement. | www.sec.gov/Archives/edgar/data/1877184/000119312526303169/ck0001877184-20260710.htm | ||||||||||||
26 | Bank of Nova Scotia | Centerra Gold | Public | $ 600,000 | $ - | $ 600,000 | $ - | $ - | SOFR | 1.875% - 3.00% | - | 4 | Upsize | Upsized the facility from $400m and amended pricing from 2.25%-3.25% | www.globenewswire.com/news-release/2026/07/15/3328145/0/en/centerra-gold-announces-extension-and-increase-of-its-corporate-credit-facility.html | ||||||||||||
27 | BSL (N/A) | Chromalloy | Veritas Capital | $ 900,000 | $ 900,000 | $ - | $ - | $ - | SOFR | 2.75% | - | 5 | Upsize | Upsized the facility from $882m and amended pricing from S+3.25% | source: Fitch | ||||||||||||
28 | BSL (N/A) | IQ-EQ | Astorg | $ 1,690,000 | $ 1,690,000 | $ - | $ - | $ - | SOFR/Euribor | 3.00% / 3.25% | - | 7 | Amend & Extend | Amend & extend the $1.12B and €500m of term loan debt at S+300 bps and E+325 bps. The transaction extends maturities to 2033, funds a €105m dividend and repays €55m of revolver borrowings. | source: Fitch | ||||||||||||
29 | JPMorgan | CoreWeave | Public | $ 2,600,000 | $ - | $ - | $ 2,600,000 | $ - | SOFR | 5.50% | 96 - 97 | - | Capex | CoreWeave has sweetened the terms on the DDTL by 1.25% and tightened the documents. | www.bloomberg.com/news/articles/2026-07-29/coreweave-boosts-yield-on-2-6-billion-loan-tied-to-anthropic | ||||||||||||
30 | Bank of America | Ancestry.com | Blackstone | $ 1,050,000 | $ 1,050,000 | $ - | $ - | $ - | SOFR | 4.25% | 98.5 | 5 | Refinance | Raised $2B of debt, including a $1.05B TL and $950m of 9% junk bonds. The size of the loan was cut from $1.75B, while the junk bond was boosted from $450m. | www.bloomberg.com/news/articles/2026-07-29/ancestry-com-revises-debt-refinancing-terms-to-attract-investors | ||||||||||||
31 | Royal Bank of Canada | EnergySolutions | Energy Capital | $ 1,100,000 | $ 1,100,000 | $ - | $ - | $ - | SOFR | 2.75% | - | 7 | Acquisition | Pricing was tighten twice througout the process from 3.25% | source: Fitch | ||||||||||||
32 | BSL (N/A) | SkyVest Renewable | Arclight Capital | $ 700,000 | $ 650,000 | $ 50,000 | $ - | $ - | SOFR | 2.50% - 2.75% | - | 7 | Refinance | Includes 1.10x DSCR | source: Fitch | ||||||||||||
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36 | Just to be clear: more deals surfaced, but I only flagged ones with details beyond size (pricing, attachment, etc.). If you catch wind of more, send them over - anonymity guaranteed. | ||||||||||||||||||||||||||
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