FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Articles / Read Article

Print

Lighthouse Provides $3.675MM Credit Facility to Manufacturer of Metal Tubular Products

Date: Dec 15, 2022 @ 07:00 AM
Filed Under: Manufacturing

Lighthouse Financial completed a $3,675,000 credit facility to a North Carolina-based manufacturer of metal, tubular products. The company was originally set up to produce diesel injection lines and has since expanded to produce a full range of industrial products, supplying tubing solutions to some of the world's largest blue chip companies for over 3 decades.

The parent company for this borrower filed for bankruptcy protection in the UK, leading to its purchase by a new investment firm earlier in the year. Lighthouse was asked to refinance the original bank debt remaining after the purchase. A $2,500,000 Line of Credit, a $625,000 Term Loan, and a $550,000 Mortgage were utilized to complete the transaction. Lighthouse's credit facilities not only paid back the prior lender, but provided additional liquidity to support the company's working capital needs.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.