PITTSBURGH, Jan. 4, 2018 – PNC Bank, N.A., announced today that it has closed a $225 million senior secured asset-based revolving credit facility for TaylorMade Golf Company, Inc., a portfolio company of New York-based KPS Capital Partners.
Headquartered in Carlsbad, California, TaylorMade Golf is a leading manufacturer of high performance golf equipment, golf balls and accessories under the TaylorMade brand. TaylorMade is a major force on the PGA Tour and has one of the strongest athlete portfolios in golf, with five players in the current Top 12 in the Official World Golf Rankings, including Dustin Johnson, Rory McIlroy, Jason Day, Justin Rose and Jon Rahm.
TaylorMade Golf Company, Inc. will use the funds to support ongoing working capital needs. PNC Bank, N.A., served as administrative, collateral and documentation agent. PNC Capital Markets served as joint lead arranger and syndication agent.
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.