Daily News: February 28, 2018

Huntington Closes Two Revolvers Totaling $35.54MM


Huntington Business Credit closed two new revolvers totaling $35.54 million dollars. They were:

  • A $10.54 million revolving credit loan and term loan facility to Major Metals Company, a distributor of steel and steel tube supporting the furniture, carport, conveyor system and solar panel markets. Proceeds of the facility were used to refinance existing debt, provide working capital and growth financing.
  • A $25 million revolving credit loan facility to Venture Logistics, a regional logistics and trucking company based in Indianapolis. Proceeds of the facility were used to refinance existing debt, provide working capital and growth financing.

Huntington Business Credit provides working capital and term loan facilities to middle-market companies for acquisitions, LBO’s, MBO’s recapitalizations, rapid growth, seasonal working capital build-up and turnaround situations.