Daily News: October 20, 2017

PNC Agents $150MM Revolver for Staffing Firm CDI

PNC Bank closed a $150 million revolving line of credit for CDI, a portfolio company of AE Industrial Partners. PNC Bank served as administrative agent.

CDI will use the funds, in part, to repay existing debt, partially finance the acquisition by AE Industrial Partners and provide for ongoing working capital needs. Products associated with the transaction include treasury management services.

Philadelphia-based CDI is a global staffing company in more than 35 countries with more than 30 locations across North America, including hubs in Atlanta, Dallas and Phoenix.