Daily News: February 17, 2012

Rising Bird Secures $7.75 Million Facility for Butler-Johnson

Rising Bird, Inc. announced that it has secured a $7.75 million credit facility for Butler-Johnson Corporation with an investment firm. The funds will be used to refinance existing debt with better terms, help with day-to-day operations and administrative expenses and expand inventory. Rising Bird worked closely with the lead arranger of this credit facility to bring it to a successful and timely conclusion.

“This new facility increases the capacity from our former banking facility,” said Rolston Johnson, Butler-Johnson’s CEO. “It provides greater flexibility and reduces our cost of capital. Rising Bird took a creative approach and found us what we need today and what we will need during our expansion. I highly recommend Ali Neesaneh and his partners to any company trying to get financing in today’s challenging economy.”

Ali Neesaneh, founder and president of Rising Bird, Inc., also commented on the new credit facility, “It was an honor for me to work with Mr. Rolston Johnson, CEO and co-founder of Butler-Johnson Corporation and his very professional team. I am thankful to be given the opportunity to help better position Butler Johnson for today