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PNC Bank Provies $64MM ABL Facility to Fiberon

July 01, 2014, 07:23 AM
Filed Under: Manufacturing

PNC Bank, N.A., a member of The PNC Financial Services Group, announced the closing of a $64 million asset-based loan for Fiberon. The transaction consisted of a $50 million asset-based revolver and a $14 million term loan. Based in New London, North Carolina, the company is using the funds to refinance existing debt and for ongoing working capital.

Fiberon is a leading manufacturer of wood-alternative decking, railing and fencing products.
The PNC Financial Services Group, Inc. is one of the United States’ largest diversified financial services organizations providing 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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