Daily News: May 23, 2012

Huntington Bank ABL Closes Facility for Dianne’s Fine Desserts

Huntington Bank Asset Based Lending announced that it closed a new $10 million senior secured credit facility for Dianne’s Fine Desserts, Inc., a portfolio company of Superior Capital Fund, Detroit, MI. Proceeds of the facility, in conjunction with equity from the Sponsor, were used to fund the acquisition of assets and provide additional working capital.

Dianne’s Fine Desserts, Inc., Newburyport, MA, is a manufacturer of custom, frozen, gourmet desserts including gourmet cakes, cheesecakes, mini desserts, and brownie bars, sold primarily through the foodservice channel, as well as through national restaurant chains.

Huntington Bank Asset Based Lending provides working capital and term loan credit facilities to middle-market companies for mergers & acquisitions, management buyouts, recapitalizations, seasonal borrowing needs, rapid growth, restructurings and turnarounds.