| Capital
One Bank closed
a three-year $18 million revolving credit line for Hamilton
Acquisition, Inc., an international provider of engineering
and consulting services to oil and gas exploration and
production companies. Proceeds of the facility will
be used for ongoing working capital needs and to fund
Hamilton Acquisition’s future growth. With its global
footprint and offices in Texas, Louisiana, Brazil and
India, Hamilton Acquisition’s experienced and skilled
personnel focus on bringing forward unique technologies
to help clients succeed. The company offers a suite
of technical and execution services from consulting
to drilling and completion project management services,
as well as reservoir and geoscience consulting.
CIT
Group Inc. announced the pricing of a registered
public offering of $1.75 billion aggregate principal
amount of senior unsecured notes due 2017 (the “2017
Notes”) and $1.25 billion aggregate principal amount
of senior unsecured notes due 2022 (the “2022 Notes,”
together with the 2017 Notes, the “Notes”). The 2017
Notes priced at par and will bear interest at a rate
of 4.25%. The 2022 Notes priced at par and will bear
interest at a rate of 5.00%. The Notes will be senior
unsecured obligations of CIT, and will not be guaranteed
by any of CIT’s subsidiaries. CIT expects the offering
to close on or about August 3, 2012, subject to customary
closing conditions.
“This
is our fourth bond offering this year, which highlights
our efforts to further transform our funding profile
and reflects the increased investor interest in CIT,”
said John A. Thain, Chairman and Chief Executive Officer.
CIT plans to use the net proceeds from the offering
of the Notes for general corporate purposes and the
refinancing of its outstanding 7% Series C Notes due
2016 and/or 2017. he Joint Book-Running Managers for
the offering are BofA Merrill Lynch, Deutsche Bank Securities,
Goldman, Sachs & Co. and J.P. Morgan.
Crestmark
is pleased to announce four new clients from July 9
to July 31. Crestmark funded an $800,000 ledgered line
of credit for a North Carolina transportation company
on July 9. The company hauls furniture from manufacturers
to retailers throughout the northwest.
On July 19 Crestmark provided a $700,000 ledgered line
of credit to a Texas-based general contractor company.
Funding will be used to pay off their prior financing
company and provide working capital for the organization.
Crestmark also provided a $500,000 traditional factoring
arrangement for a New Jersey-based toy company on July
23.
On July 27, Crestmark provided a mobile phone company
a $2 million accounts receivable purchase facility.
The Texas company will use the financing as additional
working capital.
First
Business Capital Corp.: Chuck Batson, president
and CEO, announced that First Business Capital Corp.
recently funded the following deals: $5.5 million revolving
line of credit to a Kentucky distributor of kitchen
and bath products and a $5 million revolving line of
credit to a Texas manufacturer of residential cabinetry.
First Business Capital Corp. is a part of First Business
Financial Services, Inc.
Keltic
Financial Services announced the recent funding
of a $1,750,000 senior secured credit facility consisting
of a $1.5 million revolving line of credit and $250,000
term loan to Sasco Safety, LLC. The company, headquartered
in Barnwell, SC is a manufacturer of highway safety
products that has established a manufacturing and distribution
facility in Barnwell, SC.
North
Mill Capital LLC is pleased to announce the
funding of a $2 million factoring facility for an importer
of displays for consumer businesses located in New York.
The total facility will be utilized for working capital.
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