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Renasant Business Credit Funds $3.5MM Revolver for Printing Company

March 07, 2014, 07:14 AM
Filed Under: Printing

Renasant Business Credit is pleased to announce the funding of a $3.5 million asset-based revolving line of credit for a commercial printing company based in Georgia. The closing was part of a complete recapitalization of the printing company’s balance sheet, including a substantial dividend to shareholders and a sizeable senior term loan provided by a prominent Southeast equity and debt investor.

“This was a tremendous opportunity to engage with the borrower and other stakeholders involved for a successful recapitalization. Through Renasant’s quick turnaround time, the deal allowed their shareholders to realize a return on their investment while maintaining their interest in the company,” said Mike Knuckles, head of Renasant Business Credit. “The opportunity was successfully sourced and closed, and will be managed by Bill Drmacich in our Renasant Atlanta office.”

Renasant Business Credit, the Atlanta-based lending division of Renasant Bank, provides asset-based lines of credit in the $2 million-to-$10 million range to lower middle-market companies throughout the Southeast.

Renasant Corporation, a 110-year-old financial services institution, is the parent of Renasant Bank and Renasant Insurance. Renasant has assets of approximately $5.7 billion and operates over 120 banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia.

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