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Alcentra CapitalProvides $15MM Term Loan to NARL Marketing

December 01, 2014, 07:26 AM
Filed Under: Energy

Alcentra Capital Corporation has provided $15 million in a first lien term loan to NARL Marketing, Inc., the retail and marketing operations of North Atlantic Refining Limited. 

NARL Marketing is headquartered in St. John's, Newfoundland. The business activities of the company include 52 retail gas stations, of which three have commercial card locks on site; a branded home heating business that provides furnace oil and propane to approximately 20,000 residential heating and commercial customers throughout the island of Newfoundland; a commercial business that sells refined products to construction companies, restaurants, hotels, fisheries and other community establishments; and a wholesale business that engages blue chip customers in Canada including various major oil and gas companies.

Alcentra is an externally-managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Alcentra's investment objective is to generate both current income and capital appreciation primarily by making direct investments in lower middle-market companies in the form of subordinated debt and, to a lesser extent, senior debt and minority equity investments. Alcentra's investment activities are managed by its investment adviser, Alcentra NY, LLC.

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