RideNow Group, Inc. Announces $220 Million Senior Secured Term Loan Refinancing; In Advanced Discussions for $50 Million Asset Backed Lending (ABL) Facility
RideNow Group, Inc. announced it has entered into a new $220 million senior secured term loan credit agreement with affiliates of Centerbridge Partners, L.P., refinancing its debt with a maturity extended to 2031. The company is also in advanced discussions for a separate $50 million asset-backed lending (ABL) facility. The refinancing is described as optimizing the company's capital structure.
Why it matters — The refinancing extends RideNow's debt maturity to 2031 and optimizes its capital structure, which could affect the company's financial flexibility and long-term financing outlook.