RideNow Group Refinances $220M Debt, Eyes $50M Credit Line
RideNow Group secured a $220M term loan through 2031 and is in advanced talks for a $50M ABL facility to strengthen its capital structure.
RideNow Group, Inc. (NASDAQ: RDNW) announced Monday it has completed a $220 million senior secured term loan refinancing through affiliates of Centerbridge Partners, L.P., extending the Chandler, Arizona-based company's debt maturity to 2031 and reshaping its near-term financial obligations.
The new term loan credit agreement replaces existing debt and is designed to give RideNow greater financial flexibility as it operates in the powersports retail sector. By pushing the maturity horizon to 2031, the company reduces near-term refinancing risk while locking in terms with an established private credit partner.
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Beyond the term loan, RideNow said it is in advanced discussions to secure an additional $50 million asset-backed lending facility. ABL structures typically allow borrowers to draw against eligible assets such as inventory and receivables, offering a revolving liquidity cushion that complements longer-duration term debt.
Taken together, the two facilities would give RideNow access to up to $270 million in committed and prospective credit, a combination the company characterized as an optimization of its overall capital structure. The ABL arrangement has not yet been finalized, and terms remain subject to negotiation.
The refinancing reflects a broader trend among mid-market retailers seeking to proactively manage debt maturities ahead of potential shifts in the interest rate environment. Continue reading at All Financial Services & Investing.
