Eclipse Business Capital completed a $125 million revolving credit facility for a vertically integrated manufacturer of steel products, which will use the facility to refinance existing bank indebtedness and provide ongoing working capital financing.
Eclipse Business Capital provided a $15 million senior secured revolving credit facility to a commercial hospitality furniture manufacturer and designer. The credit facility is secured by accounts receivable and inventory.
Team completed a series of related transactions consisting of a $130 million revolving credit facility provided by Eclipse Business Capital and a $35 million delayed draw term loan facility provided and managed by Corre Partners Management.
Eclipse Business Capital, formerly known as Encina Business Credit, provided an aggregate $142 million senior secured credit facility consisting of a $125 million revolving credit facility, an $11.5 million real estate term loan facility and a $5.5 million M&E term loan facility to a global distributor of metals.
Eclipse Business Capital, formerly known as Encina Business Credit, provided a $45 million senior secured revolving credit facility to a coal mining company based in the United States and Canada.
Alpha Metallurgical Resources, a supplier of metallurgical products for the steel industry, refinanced its asset-based revolving credit facility, which was previously set to expire in April 2022. Citibank is serving as administrative agent and collateral agent on the refinancing.
Eclipse Business Capital provided a $77.5 million senior secured credit facility consisting of a $50 million revolving credit facility, a $12.5 million M&E term loan facility and a $15 million term loan B facility to Ranger Energy Services.
Jim Gurgone joined Eclipse Business Capital as chief risk officer. In this role, Gurgone will oversee Eclipse’s credit processes for its existing portfolio management verticals in addition to providing input into new opportunities and strategies.
With an expanded capital base and a new funding partner in Barings, Encina Business Credit (now Eclipse Business Capital) is taking the next step on its growth trajectory, but as much as things change, the company’s successful approach to the market will stay the same.
Kaspien Holdings entered into an amended loan agreement with Eclipse Business Capital. Kaspien previously entered into a loan agreement with Eclipse (then operating as Encina Business Credit) for up to $25 million in loans under a three-year, secured revolving credit facility.