Big Shoulders Capital (BSC) recently provided a $1 million debtor-in-possession loan for a steel fabrication business in Texas. Funds will provide working capital and enable a going-concern sale process. Due to the fabricator’s high urgency needs...
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Huntington Business Credit closed a $45,000,000 new credit facility with SDB Trade International, LLC on February 16, 2024. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.SDB Trade...
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Uncaged Capital announced a series-A financing round of $39.5 million for a CO-based manufacturer of steel & steel products; the funds will be used for working capital purposes."Uncaged Capital is committed to growing its leadership position in the...
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White Oak ABL, White Oak Commercial Finance, and other affiliates of White Oak Global Advisors, closed a new $287.5 million 3-year Senior Secured Credit Facility with Majestic Steel USA Inc., a Midwest based distributor and value-added service...
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Clifford Chance advised BlackRock and Silver Point Finance in connection with a US$350 million asset-based term loan facility for InfraBuild, Australia’s largest fully vertically-integrated steel manufacturer, processor and distributor. The proceeds...
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Eclipse Business Capital provided a $40 million M&E term loan facility to an existing customer in the steel industry. In conjunction with the term loan, EBC increased the company’s revolving credit facility by $25 million from $125 million to $150...
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December 20, 2022, 07:37 AM
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United States Steel Corporation completed an amendment and restatement of the company’s $1.75 billion asset-based sustainability-linked credit facility (the “ABL”). JPMorgan Chase Bank acted as Administrative Agent and Collateral Agent. J.P. Morgan...
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Eclipse Business Capital (“EBC”) completed a revolving credit facility for a vertically integrated manufacturer of steel products. The credit facility will be used to refinance existing bank indebtedness and provide ongoing working capital...
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Fifth Third Business Capital provided $14,400,000 in refinancing including a revolving credit facility, real estate term loan and capital expenditure line for Energy Steel Products.Energy Steel Products (“ESP”) is a master distributor of stainless...
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January 11, 2022, 07:37 AM
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United States Steel Corporation announced changes to two asset-based credit facilities that reward performance for meeting sustainability targets. This is part of the ongoing execution of the company’s Best for All? strategy of creating profitable...
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Olympic Steel, a leading national metals service center, amended and extended the maturity of its existing $475 million, five-year asset-based revolving credit facility through June 16, 2026. Bank of America is the Administrative Agent and Joint Lead...
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Ideal Steel needed a financing partner that could provide a flexible structure and improved liquidity as the business looked to transform into a more streamlined operation and position itself for future growth opportunities. GBC was able to support...
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Universal Stainless & Alloy Products amended and restated its five-year $120 million asset-based lending (ABL) credit agreement with PNC Bank. The new agreement includes a revolving credit facility of $105 million and increases the term loan facility...
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BHI, a full-service commercial bank, announced that its Commercial & Industrial Group has closed a $6 million credit facility for Pisec Group America LLC. The financing provides a one-year line of credit that the company will employ for working...
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Gibraltar Business Capital provided $5.5 million in new financing to steel manufacturer Spokane IndustriesTimeliness was vital for Spokane Industries, an international manufacturer with a nearly 60-year history. As a second-generation, family-owned...
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November 23, 2020, 07:00 AM
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SSG Advisors, LLC ("SSG") acted as the investment banker to Metal Partners Rebar, LLC and its affiliates (collectively "MPR" or the "Company") in the sale of substantially all of its assets to JRC OpCo LLC ("JRC"). The sale was effectuated through a...
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October 30, 2020, 08:25 AM
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Citizens Capital Markets, Inc. announced that it served as financial advisor to Liberty Steel Products, Inc. in its divestiture of Welded Tubes, Inc. (“WTI”) to Lock Joint Tube LLC, a subsidiary of Steel Warehouse Company, LLC. WTI’s President, Joe...
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September 28, 2020, 08:50 AM
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Tiger Finance, a wholly owned affiliate of Tiger Capital Group, today announced that it has closed on a $10 million delay draw term loan to Nu-Steel Trade that provides working capital for growth and acquisition opportunities.“Nu-Steel is thrilled...
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September 22, 2020, 09:20 AM
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Reliance Steel & Aluminum Co. announced that it has entered into an amended and restated $1.5 billion five-year unsecured revolving credit facility that will replace its existing credit agreement. The Facility includes an increase option for up to an...
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September 08, 2020, 08:00 AM
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Encina Business Credit, LLC (EBC) announced that it has provided a $25 million senior secured credit facility to a value-added master steel distributor and processor. The facility consists of a senior secured revolving line of credit based on...
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Cambridge Savings Bank (CSB) announced the closing of $4,500,000 in senior secured credit facilities with a New England based steel framing manufacturer and fabricator.The credit facilities provided by CSB’s Asset-Based Lending Team allowed the...
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Amerisource Business Capital announced the closing and funding of a $1 million credit facility for a steel fabrication company based in Texas. Proceeds of the facility are being used for growth capital.Daniel Martinez, Regional Market Manager for...
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Encina Business Credit, LLC (EBC) announced that it has provided a senior secured credit facility to Associated Steel Group, LLC and certain of its subsidiaries.
The financing, which is comprised of a revolving line of credit and two term loans...
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September 13, 2018, 07:21 AM
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Universal Stainless & Alloy Products, Inc. announced that it has entered into an amended and restated five-year $120 million asset-based lending (ABL) credit agreement with PNC Bank, National Association. The new agreement increases the maximum line...
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August 07, 2018, 07:12 AM
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Olympic Steel Inc., a national metals service center, announced that it has entered into an amended and restated five-year loan and credit agreement. The amended and restated facility, led by Bank of America as agent bank, replaces the Company’s...
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December 13, 2017, 07:40 AM
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MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $9,257,000 senior credit facility to Valley City, Ohio-based Boehm Pressed Steel Company. Founded in 1918, Boehm is a manufacturer of custom metal...
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Wells Fargo Capital Finance acted as lead arranger on a $185 million senior secured credit facility for Heidtman Steel Products, Inc., an industry leading steel processing company, that will be used to support the company’s working capital needs. “We...
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November 30, 2016, 07:44 AM
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Marquette Business Credit, LLC recently funded a $14.1 million credit facility to WireTech, Inc. Headquartered in Commerce, CA, WireTech is the premier supplier of aerospace, commercial and industrial steel wire and bars to the fastener and related...
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September 13, 2016, 07:11 AM
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Siena Lending Group announced the completion of a three-year $4.5 million asset based revolving credit facility for Amstek Metal LLC to refinance their existing senior debt and to provide additional working capital for the business. Located in Joliet...
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August 30, 2016, 07:42 AM
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Marquette Business Credit, Inc. recently provided funding to Jackson Pipe and Steel under a new $4.5 million revolving line of credit to provide growth working capital and allow for inventory expansion. Operating from its facilities in Texarkana...
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