Eclipse Business Capital, formerly known as Encina Business Credit, provided a $100 million senior secured revolving credit facility to a global electronic component sourcing and distribution company.
The company used the senior secured revolving line of credit, which is collateralized by accounts receivable, to refinance its existing facility and to provide ongoing working capital financing.
Originally founded in 2016, Eclipse Business Capital is an independent asset-based lending platform targeting both privately-owned and publicly-traded companies across a range of industries. The firm recently announced a recapitalization and an expanded capital base provided by affiliated funds of Barings along with participation from management.
