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PNC Canada Closes C$38MM Financing for DCM Group

November 03, 2016, 07:42 AM
Filed Under: Energy Services

PNC Bank Canada Branch, the Canadian branch of PNC Bank, N.A., completed a C$38.0 million financing package for DCM Group, a leading provider of construction, maintenance, fabrication and shutdown services for industrial projects throughout Canada. The PNC financing includes a C$30 million revolving line of credit and an C$8 million revolving letter of credit facility.  The company will use the funds to refinance existing senior bank debt, to issue letters of credit and for ongoing working capital.
Based in Montreal, Quebec, DCM Group supports downstream infrastructure for oil and gas companies, servicing the oil and gas, mining and metals, manufacturing, infrastructure, and power/generation and utilities industries.
In Canada, commercial bank deposit, treasury management, lending (including asset-based lending) and leasing products and services, are provided by PNC Bank Canada Branch.
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.

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