Gordon Brothers Has Agented A $200M Delayed Draw Term Loan For Big Lots

Author: Benzinga Newsdesk | April 24, 2024 09:21am

Gordon Brothers, the global asset experts, has agented a $200 million delayed draw term loan for Big Lots Inc.

The U.S. home discount retailer of general merchandise will use the loan's delayed draw feature to execute on strategic initiatives with the remaining amount to draw upon for available working capital and flexibility as needed.

"Having established a working relationship with Big Lots over the last few years, we combined our flexible financial structure with our full suite of holistic services for a complete solutions-driven package," said Kyle C. Shonak, Senior Managing Director, Transaction Team & Head of North America Lending at Gordon Brothers. "We provide the capital and solutions to unlock the future and enable businesses to execute on their short- and long-term strategy."

"The financing gives us additional flexibility as we continue our turnaround strategy and focus on delivering extreme bargains and unmistakable value to our customers," said Jonathan Ramsden, Executive Vice President and Chief Financial and Administrative Officer at Big Lots.





Gordon Brothers provides both short- and long-term capital to clients undergoing transformation. The firm lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services.

Gordon Brothers partners with management teams, private equity sponsors, strategic buyers and asset-based lenders globally to provide its expertise and additional capital in special situations. The firm's tailor-made solutions provide clients additional capital alongside traditional debt and equity, and its structures complement senior asset-based lending facilities and include credit and yield enhancements.

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