BRC Inc. subsidiary enters $40M term loan, amends ABL credit agreement to lower rates and extend maturity

BRC Inc.

Authentic Brands LLC, subsidiary of BRC Inc., closed a $40M term loan facility maturing Dec 2029, with optional $20M expansion.
Proceeds used to retire existing term loan with Whitehawk Capital Partners, pay fees, and for corporate purposes.
ABL credit agreement amended with PNC Bank to lower interest rates (Base Rate +0.50%-1.50%, Term SOFR +1.50%-2.50%) and revise financial covenants.
$12.8M borrowed under ABL facility to help fund the term loan payoff and transaction costs.
New term loan requires quarterly repayments starting at 0.625% of principal, increasing to 1.25% after first year.

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