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Bank of America Business Capital Provides $20MM Credit Facility to Teters Floral Products

March 05, 2014, 07:24 AM
Filed Under: Distribution

Bank of America Business Capital has completed a senior secured revolving credit facility for Teters Floral Products, Inc., to refinance the company’s existing debt and provide ongoing working capital financing. 

“Teters Floral Products is pleased to have entered into this financing agreement with Bank of America Merrill Lynch,” said John Silvestri, president and CEO of Teters Floral Products. “We value the collaborative relationship we have developed and look forward to continuing to grow together.”

Jeff McLane, president of Bank of America Business Capital, said, “We look forward to supporting Teters Floral Products through this financing and helping the company’s continued growth.”

Teters Floral Products is a leader in the permanent floral and home décor industries. Founded in 1957, the company has grown into a leading multi-national permanent botanical supplier – importing, assembling and distributing artificial floral products to wholesale and retail customers around the globe. Its extensive products include a full range of permanent botanical SKUs, including stem flowers, bushes, vines, garlands, swags, pre-made arrangements and foliage, as well as domestically assembled wreaths, sprays and other accessories.

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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