Daily News: March 21, 2012

Huntington Bank ABL Closes $13 Million to Benore Logistic Systems


Huntington Bank Asset Based Lending announced that it closed a new $13 million senior secured credit facility to Benore Logistic Systems, Inc. The credit facility is comprised of a $9 million revolving credit facility and a $4 million equipment lease. Proceeds of the facility were used to refinance existing debt, purchase equipment and provide additional working capital.

Benore Logistic Systems, Inc. is a fully integrated logistics provider primarily for the automotive industry. Benore is located in Erie, MI with additional operations in South Carolina.

Huntington Bank Asset Based Lending provides working capital and term loan credit facilities to middle-market companies for mergers and acquisitions, management buyouts, recapitalizations, seasonal borrowing needs, rapid growth, restructurings and turnarounds.