Daily News: May 24, 2012

Huntington Bank Asset Based Lending Closes $12MM Revolver

Huntington Bank Asset Based Lending announced that it closed a new $12 million senior secured revolving credit facility for House of Stainless, Inc. Proceeds of the facility were used to refinance existing debt and provide additional working capital.

House of Stainless, Inc. is a non-ferrous metals service center headquartered in Chagrin Falls, Ohio. The company processes copper, brass, and aluminum from two operating divisions, Scott Brass, located in Cranston, RI, and Scott Aluminum, located in Clarksburg, WV.

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.