Daily News: August 2, 2012

Huntington Bank Asset Based Lending Closes $12.5 Million Facility

Huntington Bank Asset Based Lending announced that it closed a new $12.5 million senior secured credit facility for Brodart Co. Proceeds of the facility were used to replace existing financing and provide additional working capital.

Brodart Co. is a supplier of shelf-ready books and library supplies, as well as a manufacturer of high-quality wooden furniture. The company is headquartered in Williamsport, PA.

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.