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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
PNC Bank Provides $15MM Senior Facility to Singing Machine Company
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Lenders/Participants
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PNC Bank [Lender]
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Structure
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Senior Secured Facility
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Amount
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$15.000
Million
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Borrower(s)
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Singing Machine Company
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Description
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The facility is for three years and provides for borrowing against eligible accounts receivable and inventory, with sub limits on inventory up to $4 million and for letters of credit up to $3 million. It provides Singing Machine with immediate cash availability on its eligible assets and is expected to provide the company with expanded access to working capital to operate and grow its business. This PNC Facility replaces a previous $5 million receivables-based borrowing facility with another bank.
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Industry
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Specialty Industries
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| Related Tags |
PNC Bank
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ABL Advisor
Deal Tables
2025
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