Penfund, the Toronto, Canada-based provider of junior capital to middle market companies in the US and Canada, announced it completed of a $150 million second lien debt investment in Caliber Collision Centers as part of a small club of lenders providing a $600 million second lien credit facility.
The proceeds of this facility, together with the proceeds of a $1.85 billion first lien term loan and $300 million revolving credit facility were used to finance Caliber’s merger with ABRA Auto Body Repair of America. The merger, announced in December, closed earlier this month.
Jeremy Thompson, a partner of Penfund,
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