Target Hospitality extends ABL credit facility maturity to 2028, switches to SOFR

Target Hospitality Corp.

Maturity of ABL facility extended to February 1, 2028.
Interest rate benchmark converted from LIBOR to Term SOFR.
New revolver commitments replace existing; non-consenting lenders repaid.
Bank of America remains administrative agent under amended agreement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Target Hospitality Corp. amended Amendment with Bank of America, N.A., as administrative agent, and the lenders party thereto (effective 2023-02-01).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent, and the lenders party thereto
Effective: 2023-02-01

Exact text from the filing

On February 1, 2023, Arrow Bidco, LLC (“Arrow Bidco”) and certain other subsidiaries of Target Hospitality Corp. entered into a first amendment (the “Amendment”) to the ABL Credit Agreement, dated as of March 15, 2019, (as amended, amended and restated, supplemented or otherwise modified from time to time prior to the date of the Amendment, the “Credit Agreement”), by and among Arrow Bidco, the borrowers and guarantors party thereto from time to time, the lenders and fronting banks party thereto from time to time and Bank of America, N.A., as administrative agent and collateral agent.

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Target Hospitality Corp. filing history →

Source: SEC EDGAR

accession 0001104659-23-009471

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