Daily News: March 7, 2014

Renasant Funds $3.5MM Revolver for Commercial Printing Co.

Renasant Business Credit announced the funding of a $3.5 million asset-based revolving line of credit for a commercial printing company based in Georgia.

The closing was part of a complete recapitalization of the printing company’s balance sheet, including a substantial dividend to shareholders and a sizeable senior term loan provided by a prominent Southeast equity and debt investor.

“This was a tremendous opportunity to engage with the borrower and other stakeholders involved for a successful recapitalization. Through Renasant’s quick turnaround time, the deal allowed their shareholders to realize a return on their investment while maintaining their interest in the company,” said Mike Knuckles, head of Renasant Business Credit. “The opportunity was successfully sourced and closed, and will be managed by Bill Drmacich in our Renasant Atlanta office.”