Loan & DebtJul 2, 2026, 04:14 PM
Abacus Global Management Secures $75M Incremental Term Loan
AI Summary
Abacus Global Management, Inc. entered into an amendment to its Credit Agreement, securing an additional $75 million in incremental term loans. This increases the total aggregate principal amount available under the facility to $225 million, with a maturity date of December 10, 2030, and an interest rate based on adjusted term SOFR plus 5.25%. Separately, Sean McNealy resigned from his role as a director, effective June 30, 2026, due to planned retirement, with no disagreements cited.
Key Highlights
- Abacus Global Management secured $75,000,000 in incremental term loans.
- The total aggregate principal amount under the Amended Credit Agreement is now $225,000,000.
- The loans mature on December 10, 2030, with quarterly amortization payments of 1.00% per annum.
- Interest rate is adjusted term SOFR plus 5.25% per annum, with a stepdown to 5.00% based on EBITDA metrics.
- A 1.00% prepayment premium applies if incremental term loans are prepaid within 12 months.
- At the Amendment Date, $148,125,000 was outstanding under the Amended Credit Agreement.
- Sean McNealy resigned as a director, effective June 30, 2026, due to planned retirement.
Price Impact
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