BrightView details $300 million revolver in facilities refinancing

Chicago, April 25 – BrightView Landscapes provided details for its $300 million revolver that was part of a broader refinancing that included a previously reported $1.2 billion seven-year term loan in an 8-K filed with the Securities and Exchange Commission on Monday.

The refinancing agreement was signed on Friday with JPMorgan Chase Bank, NA as administrative agent and collateral agent.

The revolver matures on April 22, 2027.

Interest will be at SOFR plus 200 basis points to 250 bps. The grid has three tiers and is based on the company’s leverage ratio. The initial rate is the middle tier, 225 bps.

The commitment fee is either 25 bps or 37.5 bps per year.

At closing, no amounts were outstanding on the revolver.

For both the term loan and the revolver, the joint lead arrangers and bookrunners are JPMorgan Chase Bank, NA, KKR Capital Markets LLC, MUFG Union Bank, NA, PNC Bank, NA, Goldman Sachs Bank USA, Mizuho Bank, Ltd., Citizens Bank, NA, Wells Fargo Securities, LLC, ING Capital LLC and Sumitomo Mitsui Banking Corp.

The revolver may be used for general corporate purposes.

BrightView is a Blue Bell, Pa.-based provider of landscape services.

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