Target Hospitality closes new USD 660 million asset-based revolving credit facility

Reuters2026/07/27 10:45

By:Reuters

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Target Hospitality closed a USD 660 million asset-based revolving credit facility, replacing its USD 175 million senior secured revolver.
Five-year term matures in July 2031; includes an accordion for up to USD 190 million, lifting total commitments to as much as USD 850 million.
Borrowings priced at Term SOFR + 2.25% to 3.00%, tied to the total leverage ratio; cuts borrowing costs by up to 250 basis points.
JPMorgan Chase serves as administrative agent; PNC Bank, Wells Fargo participate as joint lead arrangers and joint bookrunners.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Target Hospitality Corp. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202607270645PR_NEWS_USPR_____DA12186) on July 27, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Target Hospitality closes new USD 660 million asset-based revolving credit facility

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