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PNC Delivers $135MM ABL to Covia in Chapter 11 Emergence

PNC delivered a $135 million asset-based loan to Covia in the company’s recent Chapter 11 emergence. As of emergence, Golden Gate Capital invested in Covia and is now the largest individual shareholder.

PNC Agents $75MM AR Facility for Covia

According to an 8K filed with the SEC, PNC Bank served as administrative agent and PNC Capital Markets served as structuring agent on a new three-year $75 million accounts receivable facility for Covia.

April 14, 2020 Covia | PNC Bank | PNC Capital Markets | Richard Navarre Phil Neuffer

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PNC Delivers $135MM ABL to Covia in Chapter 11 Emergence

PNC Agents $75MM AR Facility for Covia