PNC Provides ABL Revolver to Xerium Technologies
PNC provided a $40 million senior secured revolving line of credit for Raleigh, NC-based Xerium Technologies. In addition to an asset-based revolver that provides for both Canadian and U.S. Dollar advances, PNC will also provide treasury management and foreign exchange services.
Xerium is a global manufacturer and supplier of industrial consumables for machines used primarily in the production of paper and paperboard, as well as other specific industrial applications. The company has operations in North America, Europe, South America and the Asia Pacific.