The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Siena Lending Group Provides $12MM Credit Facility to New Age Beverages
Wednesday, August 15, 2018
Lenders/Participants
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Siena Lending Group LLC [Lender]
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Structure
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Line of Credit
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Amount
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$12.000
Million
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Borrower(s)
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New Age Beverages Corp.
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Description
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The new $12 million line of credit is in an asset-backed loan (ABL) and provides the working capital for New Age to invest in inventory to meet demands from its recently expanded distribution. The ABL is for a period of 3 years, and provides working capital for the Company on up to 85% of accounts receivable and 60% of inventory, with loaned amounts incurring an annualized interest rate of a base rate plus 2.75%, but not less than 7.5%.
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Industry
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Beverage
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Location
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CO
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Related Tags |
Siena Lending Group LLC
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ABL Advisor
Deal Tables
2024
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