GA Telesis has upsized its ABL credit facility by $50 million to $275 million led by HSBC Bank USA and Fifth Third Bank as joint lead arrangers.
The company states that the upsize was met with “overwhelming interest”, which enabled it to expand its existing bank group. Concurrently with the upsize, certain amendments were also made to the facility to expand availability and create more opportunities to grow in the current environment.
""GA Telesis' record growth and performance are supported by our flexible capital structure, and this ABL credit facility is a cornerstone to that. We are very pleased with the outcome of this process,"" said Alvin Khoo, chief financial officer of GA Telesis. ""Support from our existing lenders as well as new banks that wanted to initiate a banking relationship with GA Telesis reflects our strong performance in successfully navigating a global pandemic and Ukraine conflict with little financial impact,"" added Khoo.
In addition, GA Telesis recently renewed a $100 million unsecured credit facility. Combined with its non-recourse facilities and managed capital pools, the company state that it “maintains significant liquidity and financial flexibility to execute its growth plans”.
GA Telesis upsizes $275 million syndicated ABL credit facility
