Target Hospitality amends ABL credit agreement, extends maturity to Feb 2028

Target Hospitality Corp.

Second Amendment to ABL Credit Agreement dated Aug 10, 2023 modifies springing maturity trigger.
Revolver Facility Termination Date extended to February 1, 2028.
If Senior Secured Notes remain outstanding, termination accelerates to 91 days prior to their maturity (previously six months).
Amendment executed with unanimous lender consent; no default on effective date.
All loan parties reaffirmed guarantees and collateral pledges.

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 collateral agent (effective 2023-08-10).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent and collateral agent
Effective: 2023-08-10

Exact text from the filing

On August 10, 2023, Arrow Bidco, LLC (“Arrow Bidco”) and certain other subsidiaries of Target Hospitality Corp. entered into a second 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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Source: SEC EDGAR

accession 0001712189-23-000052

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