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TAB Bank Provides $4MM Credit Facility to Support Related Canadian Entity of an Existing Client

November 16, 2020, 08:25 AM
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Related: TaB Bank

TAB Bank announced it has provided an additional $4 million revolving credit facility to support the related Canadian entity of an existing client.  This entity of TAB’s existing client is a key provider of aftermarket support solutions for the global aerospace and defense industries including the maintenance, repair, and overhaul of engines, components, and related accessories.

The relationship was first formed in May of 2018 to refinance and restructure the debt of the US parent and its three domestic operating entities and to provide additional liquidity for growth.  The new facility for the Canadian arm of this US client will be used to refinance previous senior debt facilities in Canada and provide capital for ongoing working capital requirements.  By having all facilities with one institution it will streamline the internal management of funds and improve efficiencies in the day to day operations.

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