RideNow Group Secures $220M Term Loan, Eyes $50M ABL Facility
RideNow Group refinances with a $220M term loan extending debt maturity to 2031 and is in advanced talks for an additional $50M credit line.
RideNow Group, Inc. (NASDAQ: RDNW) announced Monday it has entered into a new $220 million senior secured term loan credit agreement with affiliates of Centerbridge Partners, L.P., pushing the company's debt maturity out to 2031 and restructuring its capital base in the process.
The Chandler, Arizona-based company said the refinancing is designed to optimize its capital structure, providing greater financial flexibility as it manages ongoing operations. By extending the maturity runway by several years, RideNow reduces near-term repayment pressure and gains room to pursue strategic priorities without the constraint of an imminent debt deadline.
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In addition to the completed term loan, RideNow disclosed it is in advanced discussions to establish a $50 million asset-backed lending facility. An ABL facility of this type would typically allow the company to borrow against eligible assets such as inventory and receivables, giving it a revolving source of liquidity on top of the longer-term term debt. The company did not specify a closing timeline for the ABL arrangement.
Taken together, the two transactions signal a broader effort by RideNow management to shore up the company's balance sheet and ensure access to capital across different market conditions. Centerbridge Partners, the private credit firm serving as lender on the term loan, is a well-established player in corporate financing and has backed similar capital structure transactions across multiple industries.
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