CIBC Bank USA’s asset-based lending team closed a new senior credit facility to Spartanburg Steel Products, which was used to refinance existing debt and support the company’s ongoing working capital and growth initiatives. The comprehensive facility includes a revolving line of credit, a term loan secured by real estate and an equipment acquisition line.
“We are proud to support Spartanburg Steel Products, Inc. with a tailored financing solution that aligns with their strategic objectives,” Ron Kerdasha, regional originations manager at CIBC Bank USA, said. “Our team’s deep industry knowledge and commitment to a partnership with SSP and its ownership group will help the company strengthen its market position, invest in innovation and achieve its long-term growth ambitions.”
