RideNow Group Closes $220M Term Loan, Eyes $50M Credit Line
RideNow Group refinances debt through 2031 with Centerbridge Partners and is in advanced talks for an additional $50M ABL facility.
RideNow Group, Inc. announced Monday it has finalized a $220 million senior secured term loan with affiliates of Centerbridge Partners, L.P., extending the company's debt maturity profile to 2031 and reshaping its capital structure amid a competitive powersports retail landscape.
The Chandler, Arizona-based company, which trades on the Nasdaq under the ticker RDNW, said the refinancing replaces existing debt obligations and is designed to provide greater financial flexibility as it pursues operational and growth initiatives over the next several years.
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Beyond the term loan, RideNow said it is in advanced discussions to establish a $50 million asset-backed lending facility. ABL facilities typically allow borrowers to draw against collateral such as inventory and receivables, giving companies a revolving source of liquidity that can be deployed quickly for working capital needs.
The dual-track financing effort signals that RideNow is prioritizing balance sheet durability, pushing near-term debt obligations well into the next decade while simultaneously positioning for day-to-day liquidity through the proposed credit line. Refinancing activity at this scale often reflects a company's effort to lock in favorable terms before potential shifts in the interest rate environment.
No financial terms were disclosed for the prospective ABL facility, and the company indicated negotiations remain ongoing. Continue reading at All Financial Services & Investing.
