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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
CIBC Bank Expands Credit Facility to $35MM for Broadwind Energy
Wednesday, February 27, 2019
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Lenders/Participants
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CIBC Bank USA [Lender]
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Structure
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Credit Line
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Amount
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$35.000
Million
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Borrower(s)
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Broadwind Energy, Inc.
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Description
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An increase in its credit line with CIBC Bank, USA to $35 million, and the extension of the term for 3 years. Under the terms of the new credit agreement, Broadwind will have the ability to borrow up to $35 million against a borrowing base consisting of (a) 85% of the face value of eligible receivables of the Company, plus (b) 50% of the lower of cost or market value of eligible inventory of the Company, not to exceed $12.5 million, plus (c) the sum of (i) 75% of the appraised net orderly liquidation value of the Company's eligible machinery and equipment plus (ii) 50% of the fair market value of the Company's mortgaged property, not to exceed $12 million.The Company separately announced it has received $8M of new wind tower orders, which will be produced in Manitowoc, WI in 2019
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Industry
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Manufacturing
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| Related Tags |
CIBC Bank USA
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ABL Advisor
Deal Tables
2025
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