Polymeric Resources (PLYR) 7.7300 $PLYR Phoenix
Post# of 273242
Posted On: 09/17/2016 9:14:33 AM
Polymeric Resources (PLYR) 7.7300 $PLYR
Phoenix Capital Resources(R) Assists Polymeric Resources Corporation in Completing a Successful Refinancing Through Ares Commercial Finance
Marketwired - Wed Jan 06, 10:37AM CST
Phoenix Capital Resources, a leading middle market situations investment bank, acted as the exclusive financial advisor and investment banker to Polymeric Resources Corporation in arranging, structuring and negotiating a refinancing of $47 million through Ares Commercial Finance. The new refinancing consists of two senior secured revolving credit facilities for both their U.S. and Canadian operations totaling $30 million, two term loans totaling $12.5 million secured by real estate and machinery and equipment in Canada, a $500,000 term loan secured by the machinery and equipment in the U.S., and a consolidated $4 million capital expenditure facility. The proceeds from the new refinancing will be utilized to fund the continued growth of Polymeric, as well as ongoing working capital needs and capital expenditure projects.
Phoenix Capital Resources(R) Assists Polymeric Resources Corporation in Completing a Successful Refinancing Through Ares Commercial Finance
Marketwired - Wed Jan 06, 10:37AM CST
Phoenix Capital Resources, a leading middle market situations investment bank, acted as the exclusive financial advisor and investment banker to Polymeric Resources Corporation in arranging, structuring and negotiating a refinancing of $47 million through Ares Commercial Finance. The new refinancing consists of two senior secured revolving credit facilities for both their U.S. and Canadian operations totaling $30 million, two term loans totaling $12.5 million secured by real estate and machinery and equipment in Canada, a $500,000 term loan secured by the machinery and equipment in the U.S., and a consolidated $4 million capital expenditure facility. The proceeds from the new refinancing will be utilized to fund the continued growth of Polymeric, as well as ongoing working capital needs and capital expenditure projects.
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