RideNow Group Refinances $220M Term Loan, Eyes $50M Credit Line
RideNow Group secured a $220M term loan through Centerbridge Partners, extending debt maturity to 2031 while pursuing an additional $50M ABL facility.
RideNow Group, Inc. announced Monday it has completed a $220 million senior secured term loan refinancing arranged with affiliates of Centerbridge Partners, L.P., extending the powersports retailer's debt maturity profile out to 2031 and reshaping its capital structure heading into the next several years.
The Chandler, Arizona-based company, which trades on the Nasdaq under the ticker RDNW, said the new term loan credit agreement replaces existing debt obligations and is designed to optimize the balance sheet. Management characterized the move as a proactive step to reduce near-term refinancing risk and improve financial flexibility.
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Beyond the term loan, RideNow disclosed it is in advanced discussions to secure a separate $50 million asset-backed lending facility. ABL facilities typically allow companies to borrow against liquid assets such as inventory and receivables, providing an additional liquidity buffer for day-to-day operations and opportunistic growth moves.
The back-to-back financing actions signal that RideNow's leadership is focused on shoring up the company's long-term capital foundation. Extending maturities to 2031 gives management a longer runway before facing a major refinancing event, a priority for many mid-market retailers operating in cyclical consumer sectors like powersports.
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