GA Telesis has closed a new five year, US$225m ABL credit facility led by HSBC Securities USA and Fifth Third Bank as Joint Lead Arrangers. The company originally sought a new US$200m facility. Due to overwhelming interest from existing and new banks, however, the company upsized the facility with better terms than its previous credit facility. The facility comprises seven global, super-regional, and regional banks with HSBC Bank USA as Administrative Agent. The facility is a refinancing of an existing US$150m ABL facility led by HSBC which was set to expire in 2018. The new facility has a higher loan amount, longer maturity, and pricing and terms consistent with or better than the current facility with the support of a larger and more diverse bank group. The proceeds from the facility will be used for general corporate purposes, acquisitions, and funding of future growth. The five year term and competitive borrowing costs will provide for financial stability while also allowing the company to make longer term acquisition decisions.