Warren Resources announced that Bank of Montreal, as syndicate agent, as well as a group of lenders underwriting the company’s $300 million senior secured credit facility has increased the borrowing base to $140 million.
Phillips Edison-ARC Shopping Center REIT entered into a revolving credit facility with KeyBank for up to $250 million of availability. It will be used to finance the acquisition of shopping centers throughout the U.S.
Veritas Financial closed a $7.8 million senior secured credit facility for a business-to-business seller of flooring, cabinets, counter tops, and artificial turf.
Innophos Holdings amended and restated its credit facility increasing the borrowing capacity to $325 million and reducing interest rates. Wells Fargo served as administrative agent and Bank of America as syndication agent.
PRA closed a $600 million credit facility to fund business operations and expansion. Bank of America Merrill Lynch led arrangements for the facility with Wells Fargo Securities and SunTrust Bank.
While traditional financing options are well suited to most companies, they don’t fit the needs of every business. As a result, lenders are increasingly providing financial products that offer new levels of flexibility. This rising tide of creative financing vehicles is giving companies more options. The advantage to businesses is clear: They can enhance their working and growth capital to fuel business plans and help maintain a competitive edge. Enter the hybrid loan.