Engs Commercial Finance added PNC Bank and its $75 million commitment to its $455 million ABL credit facility. PNC will assume the roles of syndication agent and joint lead arranger on the transaction. The ABL facility is agented by the Bank of Montreal.
Scott Franklin, senior vice president of capital markets at ENGS, said, “We are pleased to have PNC join our ABL facility in an important lead role. PNC’s suite of financial offerings and knowledge of the equipment finance market will provide immeasurable assistance as we continue to grow our business. We welcome PNC and are excited to add them to our facility.”