Daily News: November 22, 2017

WesternOne Closes $35MM ABL Revolver with CIBC


WesternOne, a provider of construction and infrastructure services, closed a new three-year $35 million secured asset-based revolving credit facility with Canadian Imperial Bank of Commerce.

WesternOne drew funds under the new ABL facility to fully repay the outstanding balance of its previous $20 million demand facility. At closing, WesternOne’s senior bank indebtedness, net of cash on hand, was $7 million.