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Reich Brothers Closes $2.5MM Term Loan Facility for Waste-to-Oil Recycler

October 17, 2017, 08:00 AM
Filed Under: Recycling

Reich Brothers Business Solutions, LLC closed a $2.5 million multi-draw term loan facility backed by the assets of the first continuous process plastic waste-to-oil products recycling facility in the United States.

RBBS worked closely with the owner of the plant, a highly-regarded infrastructure private investment group, to provide a customized, non-dilutive debt solution that supports the near-term liquidity needs of the plant while relieving the sponsor of the need to call incremental equity capital from its limited partners.

Kyle Sligar, President of RBBS, indicated that, "Reich Bros. is pleased to support a successful group of infrastructure investors in what is likely to be the first of several continuous process waste-to-oil plant facilities in the US. The ability to reduce the flow of plastics into landfills combined with the production of value-added petroleum products that are profitable at current oil prices make a great deal of sense for the economy, the environment, and for investors. The reputation of the plant ownership group combined with the plant assets in place made the deal a strong fit for the debt solutions we provide for the owners of industrial facilities and assets."


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