Daily News: June 12, 2014

Utica Completes $6.7MM Sale/Leaseback

Utica Leaseco announced the completion of participation in a sale/leaseback transaction in the amount of $6.7 million.

Utica’s portion was $3.35 million. Utica closed and funded the sale/leaseback for a Tulepo, MS-based luxury coach transportation services company. Utica and its transaction partner were able to provide the needed working capital by unlocking the equity that existed in the company’s specialty luxury coaches.

Utica relied on the company’s equipment as the sole collateral for the transaction.