Southland Holdings, Inc. announced on October 3, 2024, the closing of a new $160.0 million senior secured term loan facility with Callodine Commercial Finance, LLC. This facility is due in 2028 and includes a $140.0 million initial draw term loan and a $20.0 million committed delayed draw term loan.
Approximately $96.0 million from the initial term loan proceeds was utilized to refinance existing indebtedness, while $37.8 million will be available for general corporate purposes. The company concurrently terminated its previously existing revolving credit facility and refinanced certain equipment notes.
Frank Renda, Southland's President and CEO, stated that this new credit facility significantly strengthens the company's balance sheet. It also offers ample financial flexibility to execute on its strategic plan and pursue opportunities in its core markets.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.