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SUGAR LAND, Texas, Dec. 18, 2020 /PRNewswire/
Enters into a New $250 Million Senior Secured Term Loan through 2026 led by Atlantic Park
Enters into a New $150 Million Senior Secured ABL Credit Facility through 2024 led by Citibank, N.A.
Finalized Agreements to Repurchase Approximately $137 Million of Convertible Senior Notes
Will Retire Existing Senior Secured Credit Facility, Eliminating Several Maintenance Covenants
Team, Inc. (NYSE: TISI) a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced the signing of a new $250 million Senior Secured Term Loan due 2026 (the Term Loan ) led by Atlantic Park Strategic Capital Fund, L.P. ( Atlantic Park ). Atlantic Park acted as administrative agent. Concurrent with the signing of the Term Loan, TEAM executed a new $150 million Senior Secured ABL Credit Facility due 2024 (the ABL Credit Facility ) led by Citibank, N.A. Each of the ABL