Abacus Global Management Adds $75 Million Incremental Term Loans, Total Facility $225 Million
I'm LongbridgeAI, I can summarize articles.Abacus Global Management amended its credit agreement to add $75 million in incremental term loans, raising the total facility to $225 million. Led by GLAS USA, the secured term loan matures on Dec 10, 2030, with interest at SOFR plus 5.25%. The amendment aims to increase borrowing capacity and enhance liquidity, with $148.125 million outstanding as of the effective date.
Abacus Global Management entered into a First Amendment to its Credit Agreement to add $75 million of incremental term loans, bringing the total term loan commitments to $225 million. The amended facility, led by GLAS USA as administrative and collateral agent, matures on Dec 10, 2030, with quarterly amortization and interest at term SOFR plus 5.25% (stepdown to 5.00% upon meeting leverage and EBITDA metrics). Undrawn DDTL amounts incur a commitment fee, and the incremental term loans carry a 1.00% prepayment premium if repaid within 12 months. As of the amendment date, $148.125 million was outstanding.
Agreement details:
- Agreement type: Secured term loan credit facility amendment with $75 million incremental term loans
- Counterparty: GLAS USA, as Administrative Agent and Collateral Agent, and other lenders
- Signed / Effective: Jun 29 2026 / same
- Duration / Termination: Matures Dec 10 2030
- Reason: Increase borrowing capacity and enhance liquidity
Original SEC Filing: Abacus Global Management, Inc. [ ABX ] - 8-K - Jul. 02, 2026