Daily News: September 10, 2014

Siena Lending Closes $10MM Facility for Horizon Coach Lines

Siena Lending Group announced the completion of a three-year $10 million senior secured revolving credit facility as part of a $25 million refinancing for Horizon Coach Lines (HCL). The financing was completed in conjunction with a capital lease from Nations Equipment Finance.

David Grende, president and CEO of Siena Lending Group, said, “We are pleased to be able to work in conjunction with Nations Equipment Finance to provide an overall credit facility that will give HCL the ability to maximize the return on their fleet investment. We look forward to working with the company as they continue to execute their business plan.” Frank Sherman, CEO of TMS, said, “We are very pleased with Siena’s execution in closing the transaction and their coordination with Nations Equipment Finance. They were able to act quickly and worked very hard in bringing the transaction to a quick close.”

Dallas, TX-based HCL is a motor coach company that provides transportation for groups ranging from 10 to 100,000 with a fleet that includes luxury and standard motor coaches, transit and mini buses.