Daily News: January 6, 2015

PNC Closes $26.5MM Facility for MAYCO Industries

PNC Bank closed a $26.5 million financing facility for MAYCO Industries. The facility consisted of a $17 million asset-based revolver, a $9.5 million term loan and treasury management services.

The company is using the funds for acquisition, growth and working capital needs.

Birmingham, AL-based MAYCO is a manufacturer of non-battery lead products for industries, such as plumbing, pharmaceutical, electronics and chemical.