Daily News: July 1, 2014

Fiberon Closes ABL Revolver with PNC Bank

PNC Bank 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. The New London, NC-based company is using the funds to refinance existing debt and for ongoing working capital.

Fiberon is a manufacturer of wood-alternative decking, railing and fencing products.