The European Business Credit Group of Bank of America (BABC) has today announced that it has completed the syndication of a GBP75million revolving credit facility to Ideal Hardware and other European subsidiaries of Bell Microproducts Inc. This will be used to repay the company`s existing facility and to provide ongoing and larger working capital facilities to allow the European businesses to fund organic growth and acquisitions.
In what is believed to be a groundbreaking transaction and the first of its kind outside of North America, BABC announced the first ever fully syndicated asset based lending transaction provided to a Pan-European corporate group.
