Siena Lending Group LLC ("Siena")is pleased to announce the closing of a $25 million asset-based credit facility for TRM NRE Acquisition LLC to finance the acquisition of certain assets of National Railway Equipment Co. (“NRE” or the “Company”). Siena’s revolving credit and delayed draw term loan facility was closed in only 19 days to finance TRM Equity’s (“TRM”) purchase of certain assets of NRE and their ongoing working capital needs. Armory Securities, LLC (“Armory”) acted as the Company’s advisor on their restructuring, sale and financing.

 

The Secured Finance Foundation’s Corporate Giving Campaign, created to help prepare the next generation of leaders, provide essential data that drives smart business decisions, and invest in the communities of which our members are a part, will conclude on September 30. 

As the secured finance industry continually grows and evolves, it takes knowledge, effort, and financial support for the Secured Finance Foundation (SFFound) to keep up with these changes and fulfill its mission. The Secured Finance Foundation encourages, facilitates, and supports education, innovation, and charitable works for the betterment of organizations and professionals who deliver and enable secured finance— and for the communities of which they are a part. Since it was founded 31 years ago, the Foundation has raised approximately $9.5 million to date.