Daily News: August 20, 2014

First Capital Provides ABL Facility to Skincare Manufacturer

First Capital announced that it provided a $17.5 million asset-based senior credit facility to a manufacturer of skincare products. The senior credit facility consists of a $17.5 million working capital revolver collateralized by accounts receivable and inventory.

The company needed to refinance its existing senior debt facilities to expand its borrowing capabilities to include seasonal advances and additional liquidity. First Capital was able to quickly create a tailored financing facility specific to the company’s current and future needs.

This transaction was sourced by Mark Pickering and will be serviced by First Capital’s Eastern Region, managed by John Nooney and located in Atlanta, GA.