Andersen Group entered a $50 million asset-based revolving credit facility led by JPMorgan to support working capital, acquisitions, refinancing and general corporate purposes. The three-year facility bears interest at Term SOFR plus 1.75%, includes a 0.25% unused line fee and a 0.25% upfront fee, and provides a $5 million letter of credit sublimit. Borrowing availability is based on up to 85% of eligible receivables and includes a springing 1.00x fixed charge coverage covenant if availability falls below thresholds. In support, the company granted a first-lien security interest over loan party assets and subordinated certain notes owed to Andersen Aggregator, with limited permitted payments.
Agreement 1: Andersen Group Secures $50 Million Three-Year Asset-Based Revolving Credit Facility With JPMorgan
- Agreement type: Three-year $50 million asset-based revolving credit facility
- Counterparty: JPMorgan Chase Bank, as Administrative Agent, and lenders
- Signed / Effective: Jun 25 2026 / same
- Duration / Termination: 3 years
- Reason: Enhance liquidity for working capital, refinancing and acquisitions
Agreement 2: Andersen Group Grants First-Lien Security to JPMorgan Under New Credit Facility
- Agreement type: Pledge and security agreement granting first-lien on assets
- Counterparty: JPMorgan Chase Bank, as Administrative Agent
- Signed / Effective: Jun 25 2026 / same
- Duration / Termination: Coterminous with facility
- Reason: Provide collateral support for the revolving credit facility
Agreement 3: Andersen Group Subordinates Aggregator Notes to JPMorgan to Support Credit Facility
- Agreement type: Subordination agreement for certain promissory notes
- Counterparty: Andersen Aggregator and JPMorgan Chase Bank
- Signed / Effective: Jun 25 2026 / same
- Duration / Termination: Coterminous with facility
- Reason: Subordinate junior debt and permit limited payments
Original SEC Filing:
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