Daily News: March 13, 2014

PNC Closes $50MM ABL for Hamilton Metals

PNC Bank announced the closing of a $50 million asset-based loan for Hamilton Metals. The transaction also includes capital markets and foreign exchange services.

The company is using the funds to refinance existing debt and provide ongoing working capital.

Houston-based Hamilton Metals is one of the largest stocking distributors of corrosion resistant alloys for the oil and gas industry.