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Bank of America Business Capital Provides $32.5MM ABL to MIQ Logistics

August 30, 2013, 07:38 AM
Filed Under: Logistics

Bank of America Business Capital announced it has provided a $32.5 million asset-based working capital facility to MIQ Logistics, including its operations in the United States and in the United Kingdom. Bank of America Merrill Lynch also is providing global treasury management services as part of the transaction.

“We’re very pleased to enter into this relationship with Bank of America Merrill Lynch,” said Brenda Stasiulis, chief financial officer of MIQ Logistics. “This is an important step in the evolution of our business as it will help us improve our global liquidity and manage it more efficiently as we serve our customers around the world.”

“Our new relationship with MIQ Logistics is a terrific example of the ability of Bank of America Merrill Lynch to deliver seamless and efficient credit and liquidity management solutions to our customers on a global level,” said Jeff McLane, president of Bank of America Business Capital. “We look forward to helping MIQ grow and prosper in the coming years.”

MIQ Logistics is a global logistics company headquartered in Overland Park, KS., with offices in North America, Asia, Europe and Latin America. MIQ Logistics enables companies to improve their transportation network and overall supply chain efficiency by offering flexible logistics solutions supported by Web-native technology and global logistics management capabilities.

Bank of America Business Capital is one of the world’s largest asset-based lenders, with more than ten primary offices serving the United States, Canada and Europe. It provides corporate borrowers with senior secured loans of $10 million or more, cash management, interest rate and foreign exchange risk management, and a broad array of capital markets products.

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