MODG plans to issue a new, $1.1 billion secured term loan facility with a seven-year term to refinance two separate Callaway and Topgolf International term loans, along with other revolving credit facility outstanding balances from both pre-merger companies. It is also seeking a lender to provide a new $525 million, 5-year ABL revolver to provide flexibility going forward. The new debt will be used to pay off Callaway’s $432 million term loan and $136 million revolver, along with TGI’s $337 million term loan and $110 million revolver, with the remaining $85 ... Log in to view full article.