- SFNet Midwest Chapter Annual Meeting
- Avid Technology Announces Closing of Debt Refinancing Resulting in Expected $10 Million Annual Interest Savings
- Main Street Announces New $240 Million Secured Credit Facility
- Monroe Capital Supports Formation of Magnolia Wash Holdings
- Globavend Holdings Limited Enters Into a US$20,000,000 Equity Line of Credit Facility to be Registered on Form F-1
Encina Business Credit Provides $65 Million Facility to Leading Oilfield Services Provider
September 17, 2019
Source: Encina Business Credit
Encina Business Credit, LLC (EBC) announced today that it has provided a $65 million senior secured credit facility to an oilfield services company. This facility consists of a revolving line of credit based on accounts receivable. The loan proceeds will be used to refinance an existing facility and to support working capital.
Launched in March 2016, EBC is an independent asset-based lending platform targeting middle-market borrowers in the U.S. and Canada. The firm provides revolving lines of credit and term loans ranging in size from $10–$100 million that are secured by accounts receivable, inventory, machinery & equipment and real estate. The platform lends to both privately-owned and publicly-traded companies across a wide range of industries, including manufacturing, retail, automotive, oil & gas, services, distribution and consumer products. Borrowers use loan proceeds to fund working capital, acquisitions, refinancings, growth, restructurings/turnarounds, debtor-in-possession (DIP)/exit financings and other special situations. Positive cash flow is not a requirement.
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