Encina Business Credit provided an $80 million senior secured revolving credit facility to a global provider of business process services. Collateralized by accounts receivable, the facility was used to finance ongoing working capital financing.
Tracy Salyers and John Whetstone have joined Encina Business Credit as executive vice presidents, oo-heads of Portfolio responsible for leading all facets of account and relationship management.
National Stores initiated a court-supervised restructuring with the support of its lenders and suppliers integral to the business. As part of the restructuring, the company will be closing 74 of its 344 stores.