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Target Hospitality increases ABL facility to $175 million
By Wendy Van Sickle
Columbus, Ohio, Oct. 12 – Target Hospitality Corp. said it increased the available borrowing capacity under its credit agreement, dated March 15, 2019, by $50 million, for total available capacity of $175 million, subject to compliance with borrowing base requirements, according to a news release.
The additional credit capacity secured by the company will be used for general corporate purposes, as needed. There is no outstanding balance on the expanded credit facility.
Target Hospitality said it has remained focused on optimizing its financial position, centered on materially strengthening its balance sheet to maximize financial flexibility. Since 2020, it has reduced total net debt by about 80%.
Target Hospitality is a food service management, concierge, laundry, logistics, security and recreational facilities services provider.
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