Target Hospitality refinances with $660M ABL facility, cutting borrowing costs up to 250 bps

Filed July 27, 2026 · Period ending July 24, 2026 · ~1 min read

Key Changes

• high

  Closed new $660M asset-based revolving credit facility with 5-year maturity (July 2031), nearly quadrupling capacity from prior $175M facility; includes up to $190M accordion feature for potential $850M total capacity.

  Item 1.01 verify on EDGAR →
• high

  Borrowing costs reduced up to 250 basis points; new facility priced at SOFR + 2.25%-3.00% based on leverage ratio, initially SOFR + 2.50%, meaningfully lowering cost of capital.

  Item 1.01 verify on EDGAR →
• medium

  Drew $65.7M at closing to repay prior credit facility in full and cover transaction costs; prior facility terminated.

  Item 1.01 verify on EDGAR →