ABF Journal

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Middle Market Debt Weekly - June 1, 2025

6 days ago | abfjournal.com | Brianna Wilson

Economic contraction meets cooling inflation in pivotal weekThe middle market debt landscape faced a week of significant crosscurrents as the U.S. economy posted its first quarterly contraction in three years while inflation showed encouraging signs of moderation. These divergent signals created both opportunities and challenges for lenders navigating an increasingly complex environment shaped by trade policy uncertainty and shifting Federal Reserve dynamics.
Huntington Business Credit Closes $40MM Credit Facility with Profound Alloys

6 days ago | abfjournal.com | Brianna Wilson

Huntington Business Credit closed a new $40 million credit facility with Profound Alloys, a distributor of raw material alloys to the foundry and steel mill industries in the United States, on April 18, 2025. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.
Group 1 Automotive Upsizes Revolving Credit Facility to $3.5B

6 days ago | abfjournal.com | Brianna Wilson

Group 1 Automotive, a Fortune 250 automotive retailer with 263 dealerships located in the U.S. and UK, upsized its $1 billion revolving syndicated credit facility to $3.5 billion and extended the maturity to May 30, 2030. The syndicated credit facility can be expanded to $4.5 billion total availability, subject to lender approval. The 18 lending parties in the syndicated facility include six manufacturer-affiliated finance companies and 12 commercial banks.
Vero and First Business Bank Go Live with Advanced Title Management System

6 days ago | abfjournal.com | Brianna Wilson

Vero Technologies, a provider of innovative financial technology solutions for asset-based lending, has successfully launched its Title Management System (TMS) with First Business Bank, streamlining the bank’s title processing operations. Vero has enabled straight-through processing for the bank’s entire title management workflow.
NowVertical Secures Up to $26MM in Financing with HSBC to Fuel Growth

6 days ago | abfjournal.com | Brianna Wilson

NowVertical Group, a data and AI solutions provider, and certain of its affiliates have entered into a senior secured facilities agreement with HSBC UK Bank as arranger, original lender and agent. Pursuant to the facilities agreement, NowVertical UK and NowVertical Group, as borrowers, have access to credit facilities of up to $18 million which may be increased by up to an additional $8 million upon the approval of HSBC, for total credit of up to $26 million.
Nexxen Transitions to Reduced $50MM Revolving Credit Facility

6 days ago | abfjournal.com | Brianna Wilson

Nexxen International, a global, flexible advertising technology platform with expertise in data and advanced TV, successfully completed an amendment to its existing revolving credit facility. Nexxen amended the revolving credit facility to, among other things, reduce the committed facility size from $90 million to $50 million and extend the maturity to September 2027.
James Hardie Syndicates of New Credit Facilities

6 days ago | abfjournal.com | Brianna Wilson

James Hardie Industries successfully syndicated new credit facilities to support its operations and its planned transaction with The AZEK Company. The company syndicated new senior secured credit facilities totaling $3.5 billion with broad support including 30 participating banks. Specifically, the company secured a $1 billion revolving credit facility and $2.5 billion senior secured term loan A split between a $750 million 3-year tranche and $1,750 million 5-year tranche.
Woodsboro Bank Elevates Ohnmacht to CEO

6 days ago | abfjournal.com | Brianna Wilson

In a move to support the strong trajectory of growth and impact throughout the Frederick community, the board of directors of Woodsboro Bank will elevate Rich Ohnmacht, current president of Woodsboro Bank, to the role of president and CEO, effective July 1. Ohnmacht will succeed current CEO, Steve Heine, who will transition into a senior advisor role with the bank while continuing to serve as a member of the board of directors.
Wellness Pet Company Secures Financing to Support Strategic Initiatives

6 days ago | abfjournal.com | Brianna Wilson

Wellness Pet Company, a pet nutrition company, successfully completed a refinancing transaction supported by substantial majorities of its existing lenders. As part of this transaction, Wellness Pet has secured a $100 million capital investment and extended the maturities of its existing loans and asset-based lending facility to 2029. In addition to securing new capital, the company enhanced its liquidity position and financial flexibility by refinancing loans with participating term loan lenders.
VOX Funding Secures $150MM Credit Facility from Raven Capital

1 week ago | abfjournal.com | Rita Garwood

NEW YORK, May 28, 2025 – VOX Funding, a leading provider of flexible financing options for U.S. businesses, today announced closing a $150 million credit facility with Raven Capital, a New York-based investment firm specializing in asset-based direct lending. This transaction marks a major milestone in VOX Funding’s ongoing expansion and reflects the strength of its platform, which has delivered consistent results across market cycles.