White Oak Europe and White Oak Commercial Finance (WOCF), affiliates of White Oak Global Advisors, closed an asset-based lending (ABL) facility of up to $125 million provided by Wells Fargo Bank.
The ABL facility will support White Oak’s lending activities throughout the United States, Canada, the United Kingdom and Australia. Proceeds will be used to fund WOCF’s increasing origination of ABL loans and refinancing opportunities for borrowers across multiple jurisdictions.
“We are excited to deepen our partnership with Wells Fargo through this new facility that expands our ability to provide creative financing solutions throughout the U.S., Canada, the U.K., and Australia,” Tom Otte, CEO of White Oak Commercial Finance, said. “This transaction highlights White Oak’s continued dedication to supporting middle-market companies with flexible capital.”
“Wells Fargo is pleased to provide this new facility to White Oak as they continue to execute their strategy of delivering tailored ABL solutions to borrowers scaling their businesses across multiple jurisdictions,” David Koshenina, head of lender finance for Wells Fargo Capital Finance, said.
